New-Home Sales Still Weighed Down

July new-home sales were still weighed down, dropping 1.7 percent to 627,000, according to the Commerce Department. Inventory in July was 309,000, representing 5.9-months’ supply, and the median price was $328,700. “Although this month marks the lowest sales pace since last October, we continue to see solid housing demand due to economic strengthening and positive […]

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Challenged by a Down Payment? The Easiest Markets to Save For

One of the biggest challenges for first-time homebuyers is saving. Coming up with a down payment is a hurdle for the majority of millennials, shows study after study—but, there are areas where the average earnings are enough to save sufficiently, according to an analysis recently released by RealEstate.com. The easiest market? Chicago, where the average […]

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Existing-Home Sales Stuck

Another Month, Another Sales Slump For the fourth month straight, existing-home sales slid, the National Association of REALTORS® (NAR) reports. Activity declined 0.7 percent in July, to 5.34 million, down 1.5 percent from the prior year. Inventory rewound, as well, down 0.5 percent to 1.92 million. “Led by a notable decrease in closings in the […]

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Disruptor Roundup: Divvy Takes on Rent-to-Own

Editor’s Note: The Disruptor Roundup analyzes companies implementing unconventional models. Divvy This tech-powered, rent-to-own platform was launched at the end of 2017, and provides consumers with the ability to transition from renting to homeownership with a three-year program that amasses a down payment within its required monthly payments. Currently available in Atlanta, Cleveland and Memphis, […]

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Buyers Lured to Midwest: Realtor.com

Buyers are eyeing the Midwest, where, compared to the coasts, there are more practical prices, according to the latest ranking by realtor.com®. July’s hottest housing markets, based on days on market and online views, were: 1. Midland, Texas Age of Inventory (Median): 29 days 2. Fort Wayne, Ind. Age of Inventory (Median): 34 days 3. […]

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NAHB: Affordability Hits Lowest in 10 Years

Affordability has hit its lowest in 10 years, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Opportunities Index (HOI) for the second quarter of 2018. Approximately 57 percent of homes sold in the second quarter were affordable based on income (the median, nationally, is $71,900), down from roughly 62 percent in the […]

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Building Claws Higher in July

Building clawed 0.9 percent higher in July, but still underwhelmed year-over-year, according to the Commerce Department. Combined, housing starts totaled 1.17 million, with 303,000 multifamily (five units or more) starts and 862,000 single-family starts. On an annual basis, starts tumbled 1.4 percent. Approvals for builds, encouragingly, increased 1.5 percent to 1.31 million permits, with approvals […]

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Appraisals Catch Up to Homeowner Opinions

Appraisers and homeowners are on similar wavelengths, with appraisals coming in only 0.28 percent under what homeowners expected in July, according to the Quicken Loans National Home Price Perception Index (HPPI). Appraised home values rose 4.86 percent year-over-year, according to the Quicken Loans National Home Value Index (HVI). “The story the HPPI is currently telling […]

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Homes by the Millions ‘Missing’ Thanks to Underbuilding

With building halted in the recession and construction at insufficient levels since, there is a 6.3 million deficit in the housing stock, according to an analysis newly released by Zillow. From 2008 on, there have been 1.9 approved building permits (single-family) per 1,000 people—but, historically, the number has been 3.9. According to the analysis, if […]

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Homeowner Households Outpaced by Renters: Zillow

From the crest prior to the recession up through 2016, the country’s largest markets now have more renters, according to an analysis recently released by Zillow. In 2000, the rate of renters was 33 percent; from 2006 to 2016, the rate rose from 31 percent to 36 percent. More than half of the 50 largest […]

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