Builder Confidence Healthy in July

Builder confidence is healthy, according to the latest National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI). The Index reading is 68; an above-50 reading indicates more builders have a positive outlook than a negative one. “Consumer demand for single-family homes is holding strong this summer, buoyed by steady job growth, income gains […]

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Premium Shrinks for Waterfront: Zillow

The inventory issue is permeating to properties on the waterfront. Access to a beach or dock is expensive, but less so now than it was in recent years, according to an analysis newly released by Zillow. In the first quarter of the year, the average homebuyer paid a 36 percent premium for waterfront; in the […]

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What Do You Do When Inventory’s This Low? Innovate

From the beginning, Simon Chen has abided by a clear credo: to enhance, not replace. “It’s all about using technology in the right way to make the agent that much more productive,” Chen, CEO and president of ERA Real Estate, says. “The focus for us is to use technology as an enabler, and less as […]

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Rents Stir Up to Sustainable Trend

Appreciation heated up on rentals this spring, with the May median monthly rent totaling $1,440, an increase of 2.1 percent year-over-year, according to the May Zillow® Real Estate Market Report. Last May, the increase in median rent was 0.7 percent. “Over the past two years, rent growth slowed across the country as new apartments hit […]

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CoreLogic: May Prices Up 7.1 Percent

Analysts are anticipating home prices to tick up, but decelerated to a lesser pace, according to CoreLogic’s latest Home Price Index (HPI®) report. CoreLogic data found that May prices rose 1.1 percent month-over-month and 7.1 percent year-over-year. According to a forecast in the report, prices will have risen 0.3 percent in June, and increase 5.1 […]

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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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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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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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Economy Expands in May—Where Does Housing Stand?

The economy in May remained on a soaring streak, with a lift in jobs and the lowest unemployment in years. The expansion is a help for the housing market, but is it enough to relieve supply woes? According to Lawrence Yun, chief economist of the National Association of REALTORS® (NAR), there is an imbalance between […]

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Realtor.com: Early Signs of a Slowdown

Home prices and sales are at their speediest yet, but there are indicators of tempering, according to data from realtor.com®. In May, listings were at a median $297,000, which is 2 percent higher than in April and 8 percent higher than in May 2017. Annual growth, however, lost steam; in February, home prices were up […]

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