Tag Archives: housing market

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The 5 Hottest Single-Family Markets Are…

The national housing market is regaining steam after a slowdown in late 2013 and early 2014 and a handful of areas are seeing a surge in home prices and sales growth.

Auction.com highlights the “hottest” major single-family markets based on current and expected future housing measures. Of the 49 largest U.S. markets, the five emerging at the top of the rankings have shown consistently strong demand, home price appreciation, and economic and demographic growth. Three of the top five ranking markets are located within the Southwest region, and two are located in the Southeast.

Read where they are…

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The 20 Most Active Housing Markets

United States

Home buyers are turning out in markets across the country for the spring selling season, and some markets are seeing more action than others.

Homes are selling faster too. The median number of days on the market fell to 89 in March – 13 percent lower than a year ago.

Read about the 20 markets that had homes selling at some of the fastest speeds, and see where Seattle is on the list…

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Gen Y Shaping Housing Trends

Front Door 2

Gen Y — those 34 and younger — make up 32% of home buyers. That’s a larger share than any other segment of buyers, according to NAR’s latest “Generational Trends” report. The percentage would be even higher if four factors weren’t working against younger buyers, says NAR Chief Economist Lawrence Yun. See highlights here. Dig into details on attitudes and incomes of each generation of buyers here.

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In Seattle, Zillow says more than 16% of homeowners still underwater on mortgage

Neighborhood

In the Seattle metro area, more than 16 percent of all homeowners — or 106,900 — remain underwater on their mortgages and owe more money than their house is worth.

That’s according to Seattle online real estate company Zillow Inc., which said that’s down from an underwater equity rate of 21.9 percent a year ago and down from the peak of 39.6 percent in the first quarter of 2012.

For 2015, Zillow estimates the negative equity rate in Seattle will drop to 13.3 percent, compared with the predicted national average next year of 15.2 percent.

Read more…

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FHA to lower cost of Mortgage Insurance

In a move designed to bring more first-time homebuyers into the housing market, President Barack Obama said last week the Federal Housing Administration (FHA), the government insurer of home loans, will lower its annual insurance premiums from 1.35 percent to 0.85 percent.

In a statement, the White House said the move was part of the president’s efforts “to expand responsible lending to creditworthy borrowers.” The president is scheduled to talk about improvements in the housing market at a speech on Thursday in Phoenix, one of the hardest-hit markets of the housing crash.

Read the article…

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Flurry of year-end home sales brings strong finish to 2014

Front Door 3

King County’s housing market ended 2014 with a flurry of sales, but with the lowest supply of active listings in any month going back more than a decade.

The median price of single-family homes sold in December was $440,000, up 4.8 percent over the year, the Northwest Multiple Listing Service reported last week.

Read more…

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10 Housing Markets to Watch in 2015

US

Is your local housing market one to watch in 2015? Trulia’s Chief Economist shares his picks for the hottest, must-watch markets for the new year.

See if your area made the list and find out what you can expect next year!

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4 Trends in the Year Ahead

Front Door 2

In a mortgage industry that has spent a lot of time looking back at the turbulence, tumult and tension of a few short years ago, it is refreshing to see industry professionals focusing on the future with a renewed sense of optimism and resolve.

With 2014 drawing to a close, it is time to look ahead to the next 12 months and examine the ongoing and emerging trends that will shape the industry in the year to come. From regulatory pressures to potential consolidation, and from new players to old principles, 2015 promises to be an eventful and intriguing year for mortgage professionals.

Read more…

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5 Real Estate Predictions for 2015

Expect the home-purchase market to strengthen along with the economy in 2015, according to Freddie Mac’s U.S. Economic and Housing Market Outlook for November.

“The good news for 2015 is that the U.S. economy appears well-poised to sustain about a 3 percent growth rate in 2015 — only the second year in the past decade with growth at that pace or better,” says Frank Nothaft, Freddie Mac’s chief economist. “Governmental fiscal drag has turned into fiscal stimulus; lower energy costs support consumer spending and business investment; further easing of credit conditions for business and real estate lending support commerce and development; and consumers are more upbeat and businesses are more confident, all of which portend faster economic growth in 2015. And with that, the economy will produce more and better-paying jobs, providing the financial wherewithal to support household formations and housing activity.”

Freddie Mac economists have made the following projections in housing for the new year…

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What’s Housing’s Big Game Changer?

Home

Marriage and real estate often go hand-in-hand. But a drastic decline in the number of married young adults is emerging as “one of the biggest game changers in the housing industry,” according to John Burns Real Estate Consulting.

The share of 25 to 29 year olds who are married has plunged by nearly 48 percent for men and 43 percent for women since 1970.

“The housing market is unquestionably fueled by life stage changes, particularly the change of marital status and the addition (and subtraction) of children,” John Burns Real Estate Consulting notes in a recent blog post. “These changes significantly affect where consumers want to live and what kind of home and community they will choose.”

Read more…