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Homeownership Rate Improves for Second Time in 2017

Homeownership Rate Improves for Second Time in 2017

The homeownership rate improved to 63.9 percent in the third quarter—the second time it has inched up this year, slightly topping 63.7 percent in the second quarter and 63.5 percent this time last year, according to the U.S. Census Bureau’s recent Quarterly Housing Vacancies and Homeownership report. Another second-time win? The gap between the ownerRead more about Homeownership Rate Improves for Second Time in 2017[…]

Got 20 Minutes? Then Check Out the NAR Theater

Got 20 Minutes? Then Check Out the NAR Theater

NAR PULSE—If you’re attending the 2017 REALTORS® Conference & Expo Nov. 3-6, stop by NAR Booth #2825 and catch any of the free 20-minute industry presentations that are being offered at the NAR Theater. Learn about sustainability, building an online reputation, digital marketing and more! The complete schedule will be available in your registration bagRead more about Got 20 Minutes? Then Check Out the NAR Theater[…]

First-Time Homebuyers Are Knocking: Are They Being Let In?

First-Time Homebuyers Are Knocking: Are They Being Let In?

First-time homebuyers are eager to enter the housing market. Getting in the door is another story. First-time homebuyers accounted for 34 percent of sales this year, less than the 35 percent share in 2016 and off an average 39 percent historically, the NAR 2017 Profile of Home Buyers and Sellers shows. First-timers bought costlier, butRead more about First-Time Homebuyers Are Knocking: Are They Being Let In?[…]

Double-Digit Growth in the Wild West: Is a Bubble Next?

Double-Digit Growth in the Wild West: Is a Bubble Next?

Demand is forcing home prices out West to keep ticking up, even though the home-buying and -selling season is winding down, according to the September Zillow® Real Estate Market Report. Appreciation is highest in the San Jose, Calif., and Seattle, Wash., metropolitan areas, where prices have rocketed (in order) 10.3 percent, to a median $455,800,Read more about Double-Digit Growth in the Wild West: Is a Bubble Next?[…]

A Cooldown in Housing? Not This Season

A Cooldown in Housing? Not This Season

Autumn began in September, but activity in the housing market remained at summer-like levels through October, according to realtor.com®’s latest data preview. Prices in October were 10 percent higher than those one year ago, with the national median at $275,000 and the national median age of inventory at 73 days. “This month we aren’t justRead more about A Cooldown in Housing? Not This Season[…]

Report: Mortgage Interest Deduction Promotes Inequality

Report: Mortgage Interest Deduction Promotes Inequality

Among the repercussions the tax overhaul proposal can have on the mortgage interest deduction, the National Low Income Housing Coalition (NLIHC) and the Institute on Assets and Social Policy (IASP) at Brandeis University’s Heller School recently released a report, “Misdirected Investments: How the Mortgage Interest Deduction Drives Inequality and the Racial Wealth Gap.” The reportRead more about Report: Mortgage Interest Deduction Promotes Inequality[…]

FHFA: Home Prices Rose in August

FHFA: Home Prices Rose in August

Home prices rose 0.7 percent month-over-month in August 2017, according to the Federal Housing Finance Agency’s (FHFA) recently released House Price Index (HPI). The HPI year-over-year—based on prices for homes with Fannie Mae- or Freddie Mac-backed mortgages—was up 6.6 percent. Per the Index, month-over-month home price changes range from -0.1 percent in the New EnglandRead more about FHFA: Home Prices Rose in August[…]

The tale of two homebuyers (Or why the government should stay out of the mortgage business!)

The tale of two homebuyers (Or why the government should stay out of the mortgage business!)

The tale of two homebuyers (Or why the government should stay out of the mortgage business!) Let me introduce you to two homebuyers, the first is Mr. Frank Doodle and the second is Lisa Normal. They both decided they wanted to buy a house in the next 2 months. Lisa is 47 and has 2Read more about The tale of two homebuyers (Or why the government should stay out of the mortgage business!)[…]

Pending Home Sales at a Standstill

Pending Home Sales at a Standstill

Pending home sales remained at a standstill in September, unchanged in the National Association of REALTORS® (NAR) Pending Home Sales Index (PHSI). The PHSI posted 106.0 in September (repeating August’s reading); however, sales were 3.5 percent lower year-over-year. The Index is based on contract signings. “Demand exceeds supply in most markets, which is keeping priceRead more about Pending Home Sales at a Standstill[…]