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Home Price Growth Hit Six-Year Low in December as Sales Fell 11 Percent

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U.S. home-sale prices increased just 1.2 percent in December compared to a year ago to a median of $289,800, according to a housing market analysis from Redfin, the next-generation real estate brokerage. The year-over-year increase in home prices was the smallest since the number went positive in March 2012. The median sale price of homes sold in December fell since last year in nine of the ...

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Millennial Home Buyers Most Likely to Put Less Than 20% Down

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The largest generation of home buyers also gets the most money from friends or family to make it work and is most likely to tap multiple sources Putting 20 percent down is conventional wisdom, but fewer than half of buyers do it. First-time buyers are more likely to cash out investments or use retirement funds toward a down payment. Buyers ...

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Luxury Home Prices Rose at Lowest Growth Rate in Nearly Two Years

Luxury home prices rose 3.2 percent year over year to an average of $1.7 million in the third quarter of 2018, according to Redfin, the next-generation real estate brokerage. This is the lowest growth rate since the fourth quarter of 2016, when prices were up 1.1 percent from a year earlier. The Redfin analysis tracks home sales in more than 1,000 cities ...

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Take a Peek Inside Santa’s $765,000 Custom North Pole Home

Santa Claus’ home and state-of-the-art toy workshop at the North Pole is currently worth an estimated $764,389 after gaining 7.6 percent in value over the past year, according to Zillow. Santa and Mrs. Claus claimed their home on Zillow in 2016, updating the home facts on the 3-bedroom, 2-bathroom log cabin. They also added new photos, giving the world a glimpse into Santa’s life ...

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Housing Demand Posts Strong Gains in Q3

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The Redfin Housing Demand Index increased 5.1 percent from August to 131 in September, after remaining essentially flat around 124 since May, according to Redfin (www.redfin.com), the next-generation real estate brokerage. The month-over-month increase in demand was driven more by growth in early-stage home-buying activity than in the more serious stage of offer-writing. The number of people requesting home tours increased 11.2 ...

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Existing-Home Sales Decline Across the Country thanks to Fed’s rate-raising

Existing-home sales declined in September after a month of stagnation in August, according to the National Association of Realtors. All four major regions saw no gain in sales activity last month. Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, fell 3.4 percent from August to a seasonally adjusted rate of 5.15 million in September. ...

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U.S. Home Affordability Drops To Lowest Level In 10 Years

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Home Prices Less Affordable Than Historic Averages In 78 Percent of Local Markets 30 Percent of Population in Markets Requiring $100,000+ in Annual Income to Buy a Home A report out Thursday shows that the U.S. home prices in the third quarter were at the least affordable level since Q3 2008 — a 10-year low. The report calculates an affordability ...

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Pending Home Sales Dip 1.8 Percent in August

Pending home sales fell slightly in August and have now decreased on an annual basis for eight straight months, according to the National Association of Realtors. The Pending Home Sales Index, a forward-looking indicator based on contract signings, decreased 1.8 percent to 104.2 in August from 106.1 in July. With last month’s decline, contract signings are now down 2.3 percent year-over-year. ...

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Millennial Homebuyers Driving 2018 Hottest ZIP Codes in America

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A new report out today announced the Hottest ZIP Codes in America. The new list shows high-income millennials are helping to drive a nearly 10 percent increase in how fast homes are sold in the most popular areas of the country, which spans emerging suburban areas near Silicon Valley, throughout the Midwest, and on the East Coast. As millennials get ...

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Home Prices Rise Three Times Faster than Rents

Only 41 percent of the U.S. population lives in a county where a median-income household can afford to buy a median list price home As home prices rise across the U.S., choosing to rent has become increasingly popular. New analysis by realtor.com® reveals the monthly costs of buying a home have risen by 14 percent over the past year. This ...

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Millennials’ View of Home Buying Turns Negative

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Millennials’ perceived value in buying a home dropped below 50 percent, down significantly from post-Brexit high, according to the latest ValueInsured quarterly Modern Homebuyer Survey: In the third quarter of 2018, 48 percent of all millennials believe buying a home in America today is a good investment; this is a record low, down from 54 percent in the second quarter. The previous high ...

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More than Six Million Homes Missing From U.S. Housing Market

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One of the defining characteristics of today’s housing market is the lack of available inventory, and much of this scarcity can be traced back to the lack of building following the bubble’s burst. Between 1985 and 2000, there were 3.9 permits issued for single-family homes per 1,000 residents. Since 2008, that mark stands at just 1.9 permits per 1,000 people. ...

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Pending Home Sales Rise 0.9 Percent in June

Pending home sales increased in all four major regions in June, but overall activity lagged year-ago levels for the sixth straight month, according to an industry report. The Pending Home Sales Index, a forward-looking indicator based on contract signings, rose 0.9 percent to 106.9 in June from 105.9 in May. Despite last month’s increase, contract signings are still down 2.5 percent ...

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Half of All U.S. Homes Are More Valuable than Pre-Recession Peak

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In seven of the 35 largest U.S. housing markets, more than 95 percent of homes are worth more than their peak value during the housing boom The median U.S. home value is $217,300, up 8.3 percent over the past year Home values are 8.4 percent higher than they were at the height of the housing bubble Median rent rose 1.3 ...

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