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Millennials’ View of Home Buying Turns Negative

Home for sale

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

Home for sale

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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Median Home Sale Price Reaches Nine-Year High, Sales Decline

Halfway through 2018, prices are at record highs, inventory is at record lows and home sales are trailing 2017’s pace, according to the RE/MAX National Housing Report. June sales were 5.5% lower than June 2017 in the 54 metro areas surveyed, marking the seventh consecutive month of year-over-year declines. Headed in the opposite direction, the June Median Sales Price of $258,500 was an all-time high ...

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Rent Prices for Two and Three-Bedroom Homes Rising Fast

Monthly rent for two and three-bedroom homes are appreciating 2.8 percent annually, which is faster than one-bedroom homes and the nation as a whole Rent growth among two and three-bedroom homes are appreciating faster than one-bedroom units and the nation as a whole Rent prices rose 2.8 percent over the past year among both two-bedroom and three-bedroom homes. Median rent ...

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Housing Demand Index Up 7% in May

Home for sale

Housing demand increased 7.4% in May according to the Redfin Housing Demand Index just released. The rise was driven by a 6.3 percent increase in the number of homebuyers requesting tours, and a 9.7 percent increase in the number making offers on homes from April to May. The Demand Index is based on thousands of Redfin customers requesting home tours and ...

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A Guide to Starting Property Flipping

House Flipping

Flipping is where you buy a property, refurbish it, and sell it to make income. You will find that you may get financially or emotionally drained at times and if this happens you might be begging your old boss for a job again. Here is the right and easy way to make money in 7 easy tips: 1. Expect to ...

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U.S. home prices least affordable in a decade

U.S. home prices in the first quarter were at the least affordable level since Q3 2008 according to ATTOM Data Solutions report and California is home to three of the top 5 least affordable counties. The Q2 2018 U.S. Home Affordability Report calculates an affordability index based on percentage of income needed to buy a median-priced home relative to historic averages, with ...

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Homes Selling Faster despite 7.8% rise in prices

Home for sale

In May, homes sold faster than at virtually any other time in the past decade, according to the latest RE/MAX National Housing Report. Low inventory and high demand in May cut Days on Market to 46, the second-lowest monthly number in the nearly 10-year history of the report. May home sales topped April sales by 14.5% and were down by 2.8% from May ...

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May Real Estate Market the Fastest on Record; Prices Up 6.3%

Home for sale

The typical home that sold in May went under contract in 34 days, according to Redfin (www.redfin.com), the next-generation real estate brokerage. May broke April’s record of 36 days, which was the fastest month Redfin had recorded going back to 2010.  Amid the speed, the national median home sale price rose to $305,600, a 6.3 percent increase from May 2017 across the 174 markets that ...

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Mortgage Demand Falls to Three-Year Low

Home for sale

Mortgage lenders reported a net negative profit margin outlook for the seventh consecutive quarter, as rising home prices and tight housing supply continue to put a squeeze on mortgage demand, according to Fannie Mae’s Q2 2018 Mortgage Lender Sentiment Survey®. When asked about consumer demand for GSE eligible and government loans, the net share of lenders reporting growth in the past ...

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Housing Sentiment Continues to Strengthen, but affordability a concern

Home for sale

The Fannie Mae Home Purchase Sentiment Index® (HPSI)rose 0.6 points in May to 92.3, reaching a new all-time survey high for the second consecutive month. However, consumer attitudes about buying and selling a home have continued to diverge as home prices have increased. While the net share of respondents who reported that now is a good time to sell a home increased ...

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Better off Renting? Renters Can Create More Wealth than Buyers in Many U.S. Housing Markets Now

With housing markets around the U.S. nearing the peak in their cycles, renters who reinvest their money have an increasingly better chance at creating wealth than individuals who purchase a home, according to the latest national index produced by Florida Atlantic University and Florida International University faculty. This marginal move in the Beracha, Hardin & Johnson Buy vs. Rent (BH&J) Index shows an increased possibility of ...

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Moving Out: Californians look for houses in other states at twice U.S. average; cite sanctuary policies, affordability

leaving california

Santa Clara, San Mateo, and Los Angeles are the top three California markets where residents are leaving More than half of those searching outside their county are looking to leave California; Nearly half are looking at more affordable counties in state San Diego, San Francisco and Marin counties are generating the most out of California views California’s housing affordability crisis, sanctuary ...

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