In a market where house prices are low and income growth is strong, such as Columbia, South Carolina (another market in the eastern U.S.), the payments begin the life of the mortgage as 17 percent of the household’s monthly income; by the end of the life of the loan, the payments drop to 6.6 percent
Read More »Stellar October Jobs Report Sets Stage for December Rate Liftoff
“As disappointing as last month’s jobs report was, this one more than makes up for it,” said Curt Long, Chief Economist of the National Associations of Federal Credit Unions (NAFCU). “Job gains surged past analysts’ expectations, while the unemployment rate dropped even as 300,000 workers joined the labor force. Meanwhile, year-over-year wage growth hit its highest mark since mid-2009. Barring catastrophe, everything looks set for the Fed to raise rates in December.”
Read More »Median Homebuyer Age Has Remained ‘Remarkably Steady’ Over the Years
Despite rising shares of homebuyers age 50 and over and shrinking percentages of homeowners ages 35 to 50 and under 30, the median age of homebuyers has remained “remarkably steady” in the last decade.
Read More »Housing Outlook Stays Positive Despite Predicted Moderate Economic Expansion
The predicted moderate economic expansion does not change the Conference Board’s outlook for housing, which is largely positive. Ozyildirim told DS News earlier in the week that, “The single family housing market seems to be heating up, despite some potential volatility. Construction companies and workers are busy while home prices and mortgage rates remain favorable.”
Read More »Favorable Conditions Drive Continued Improvements in Housing Market
"Buoyed by strong employment growth, housing supply is struggling to keep pace with demand, which is driving house prices higher," Kiefer said. "Fortunately, low mortgage interest rates are helping to keep homebuying affordable for some prospective homebuyers."
Read More »Ask the Economist: Consumers, Labor Market Improvements Have Built Momentum in Housing
Ask the Economist is an ongoing series in which DS News talks with an economist about the most pressing issues facing the nation's housing industry and the economy. This installment features Ataman Ozyildirim, Economist and Director, Business Cycles and Growth Research at The Conference Board.
Read More »Despite Economic Headwinds, Housing Market is a Bright Spot for Economy
The macroeconomic picture in the U.S. continues to battle economic headwinds—namely a September jobs report that came in below expectations and an appreciating dollar which will pressure the already growing U.S. trade deficit, Fannie Mae said. Yet, housing remains in a fairly positive zone, considering all of the factors weighing it down.
Read More »Ask the Economist: Rise in Employment, Millennial Demand Will Bring Housing Up in 2016
Ask the Economist is an ongoing series in which DS News talks with an economist about the most pressing issues facing the nation's housing industry and the economy. This installment features Selma Hepp, Chief Economist with Trulia.
Read More »Housing Market Sentiment Rises to Near-Record High
The index showed that four of the six components questioned posted net positive gains. The Good Time to Sell component increased 13 points in September compared to the prior month, with 52 percent indicating that it was a good time to sell, up five percentage points from last month.
Read More »Existing-Home Sales Expected to Pick Up As Market Shifts to Favor Buyers
The data shows home price declines and increased time on the market has moved the September housing market from a seller's market to a buyer's market. This transition means that it is easier for buyers to purchase a home compared to any other time so far this year.
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