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Home | Tag Archives: First-Time Homebuyers

Tag Archives: First-Time Homebuyers

Existing-Home Sales Slip in March

Existing-Home Sales Slip in March

Total existing-home sales in March came in at a seasonally adjusted annual rate of 4.59 million, according to estimates from the National Association of Realtors. March sales fell .2 percent from February’s downwardly revised pace of 4.60 million and hit a nearly two-year low. Compared to March 2013, the sales rate was down 7.5 percent.

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Millennials Grab Greatest Market Share of Home Purchases

Millennials Grab Greatest Market Share of Home Purchases

According to the National Association of Realtor's Home Buyer and Seller Generational Trends study for 2014, Millennials—aka “Generation Y” or “Generation Next”—comprised 31 percent of recent purchases, leading all other age groups. Following that were Generation X (defined as those born between 1965 and 1979), which made up 30 percent.

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Housing Recovery Unmoved by Rising Interest Rates

Housing Recovery Unmoved by Rising Interest Rates

Mortgage rates may be rising, but the housing market doesn’t seem to mind. In fact, several indicators have improved alongside rising rates, according to the HousingPulse Tracking Survey released this week. The lending atmosphere is becoming friendlier, especially to first-time buyers. Simultaneously, the average time on market for non-distressed properties and the average sales-to-list price ratio both improved year-over-year in December.

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Analysts Say Double-Digit Appreciation Will Come to an End by 2014

Although the CoreLogic Case-Shiller Home Price Indexes recorded a 10.1 percent year-over-year increase in national home prices in the second quarter, double-digit appreciation is not expected to continue. While the market will continue to see home prices appreciate, those gains are projected to slip to just 5.4 percent by the beginning of next year, CoreLogic reports.

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Economist Decries New QRM Proposal

Economist Decries New QRM Proposal

While many in the industry laud the recent changes the Consumer Financial Protection Bureau (CFPB) made to the proposed Qualified Residential Mortgage (QRM) rule, one economist says the new proposed rule sets the stage for another housing crisis.

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Survey: Current Homeowners Increase Purchases, Investors Exit Market

Current homeowners are playing a bigger role as housing market participants amid a sharp slowdown in investor activity, according to data from the Campbell/Inside Mortgage Finance HousingPulse Tracking Survey. Last month, current homeowners represented 44.6 percent of the purchase market, up from 43.8 percent in May based on a three-month moving average. As rising home prices discourage investors, HousePulse found home purchases from investors slipped to 19.7 percent.

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Home Price Boost Sends Sales Down in June

Home Price Boost Sends Sales Down in June

Existing-home sales fell 1.2 percent in June to an annual sales rate of 5.08 million as the price of a single-family home rose 13.5 percent from a year earlier--the strongest year-over-year gain since November 2005, the National Association of Realtors reported Monday. Economists surveyed by Bloomberg expected existing-home sales to jump to 5.27 million from May's originally reported sales pace of 5.18 million. The median price of an existing home rose $11,100 or 5.5 percent for the month to $214,200, the highest price since June 2008.

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Report: Traditional Buyers Need to Fill the Widening Cash Buyer Void

Report: Traditional Buyers Need to Fill the Widening Cash Buyer Void

If it wasn't for cash sales during the housing downturn, sales today would look much weaker, and the dramatic price declines over the past few years would have been even steeper, CoreLogic reported Tuesday. From 2000 to 2005, cash sales remained steady, representing around 25 percent of all sales. When the real estate market crashed in 2007 and 2008, the share of cash sales, driven by the rise in REO sales, jumped and eventually peaked above 40 percent two years ago. For 19 straight months now, cash sales have been declining.

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Study Examines Buyer, Seller Satisfaction with Real Estate Companies

Repeat buyers and sellers averaged a higher score when measuring customer satisfaction compared to first-time homebuyers, according to a study from J.D. Power. For the year, repeat homebuyers averaged a score of 817 out of 1,000, while the score for repeat sellers was 803. On the other hand, the score for first-time buyers and sellers was 797. The study also found first-time homebuyers have been more active this year, representing 49 percent of buyers in 2013 compared to 40 percent in 2012.

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