Sellers Win: Average Homeowner Gaining $40,000 at Resale

Sellers are winning. According to an analysis recently released by Zillow, the average homeowner pocketed $38,856, or a 20.8 percent return, when selling, having had their home for 8.4 years. “In a housing market that’s been plagued by low inventory and increasing demand, homeowners in the nation’s hottest markets have been able to cash in […]

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Realtor.com: Days on Market and Prices at Records

Amid nationwide shortages in supply, homebuyers in June had more options, but their choices were fast-moving and pricey, according to data from realtor.com®. The average home was listed for a median $299,000 and sold in 54 days—both new realtor.com records. On an annual basis, inventory in June sunk 4 percent, which is a departure from […]

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Report: Buying Is Eating Up More Income

A bigger piece of the pie. The average homeowner is forking over 17.1 percent of their income for their mortgage, an allocation that has grown from 15.9 percent in 2017, according to a recent report by Zillow. The increase is the second-most significant since the recession. Why the jump? “For the past few years, historically […]

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Again, Mortgage Rates Settle

For the fourth time in five weeks, mortgage rates have settled, with the average 30-year, fixed mortgage at 4.55 percent, a decline from 4.57 percent the prior week, according to Freddie Mac’s Primary Mortgage Market Survey® (PMMS®). The average 15-year, fixed mortgage was at a 4.04 percent rate, flat from the prior week, but the […]

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Infographic: Baby Boomers Are Market Movers

Baby boomers are the biggest generation of homebuyers behind millennials, at 32 percent, according to the National Association of REALTORS® (NAR) 2018 Profile of Home Buyer and Seller Generational Trends. For more information, please visit www.nar.realtor. For the latest real estate news and trends, bookmark RISMedia.com.

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For Fifth Month Straight, Pending Home Sales Slide

In a continuing downtrend, May’s pending home sales slid, declining 0.5 percent for the fifth month in a row (year-over-year), according to the National Association of REALTORS® (NAR) Pending Home Sales Index (PHSI). Despite gains in three of the four major regions in the U.S., a considerable drop in the South tamped down the total. […]

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Case-Shiller: Home Prices Stack Up

April home prices stacked up, 6.4 percent year-over-year, according to the S&P CoreLogic/Case-Shiller Indices. The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index’s 10-City Composite, which is an average of 10 metros (Boston, Chicago, Denver, Las Vegas, Los Angeles, Miami, New York, San Diego, San Francisco and Washington, D.C.), rose 6.2 percent year-over-year, a […]

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Buyers Deflated by Inventory Woes: NAR

Buyers are holding out hope in peak real estate season, but against the inventory squeeze, their confidence was shaken this spring, according to the National Association of REALTORS® (NAR). The amount of buyers confident in their housing market prospects stalled at 68 percent, according to NAR’s Housing Opportunities and Market Experience (HOME) second quarter survey—identical […]

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Existing-Home Sales Hit a Snag

Existing-home sales in May were snagged by supply, the National Association of REALTORS® (NAR) reports. Activity in May declined 0.4 percent to 5.43 million, down 3 percent from the prior year. Inventory increased 2.8 percent to 1.85 million, but was 6.1 percent lower than the prior year. “Closings were down in a majority of the […]

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CoreLogic: April Home Prices Rise 6.7 percent

April home prices rose 1.2 percent month-over-month and 6.7 percent year-over-year, according to the CoreLogic Home Price Index (HPI™) and HPI Forecast™. Home prices are projected to rise 0.2 percent from April to May, and 5.3 percent from April 2018 to April 2019. Additionally, of the 100 largest markets, 40 percent are overvalued, or have […]

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