According to the MiMi, current mortgages and employment are the major contributors pushing the MiMi into the stable range. Current mortgages reached 82.7 points in June, up 0.82 percent from May. Meanwhile, employment landed at 101.7 points, up 0.64 points from May.
Read More »Housing Market is ‘Rapidly Cooling’ as a Result of Price Limits and Less Buyer Interest
The August forecast predicts that prices will rise 2.2 percent and sales to increase 4.6 percent compared to this time last year. In September, prices are expected to increase 5.3 percent from last year and sales to rise by 10 percent.
Read More »Soft Economic Growth Projected for the Rest of 2015; Housing Data Mixed
Housing data was mixed in June, but all main indicators increased during the first six months of the year compared to the same period last year. This supports Fannie Mae's expectation of a broad-based improvement in the housing market.
Read More »Existing-Home Sales Continue Surge While First-Time Buyer Sales Fall
Total existing-home sales rose 2.0 percent to a seasonally adjusted annual rate of 5.59 million in July from a downwardly-revised 5.48 million in June.
Read More »Home Sales Up Year-Over-Year; Reach Highest Level Since 2008
According to RE/MAX, home sales over the last six months, including July, have each recorded the highest number of sales in their respective months since the RE/MAX National Housing Report began in 2008.
Read More »Zillow Promotes New Chief Economist
In her new role as chief economist, she will be the face of Zillow’s housing research as she continues to lead Zillow’s economic research team as it produces monthly reports on housing trends for more than 450 metros nationwide, as well as original research on the country’s most important housing topics.
Read More »FHA’s Lowering of MIP Has Had Little Effect on Minority and First-Time Buyer Share
Recent research by Washington, D.C.-based think tank American Action Forum (AAF) showed that as of the end of May, the share of FHA endorsements for both minority borrowers and first-time homebuyers was unchanged from a year earlier–33 percent for minority borrowers and 83 percent for first-time buyers.
Read More »Housing Demand Shifting Toward Central Parts of Cities
According to Fitch, home prices have grown 50 percent faster in urban centers than in the larger metro statistical areas (MSAs) since 2000. City centers are expected to continue to experience growth due to the shift in demand, even in regions lacking significant fundamental support, and are currently considered overvalued.
Read More »Ask the Economist: Recovering Home Prices Can Drive Inventory and Sales Increases
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 Peter Muoio, Chief Economist with Auction.com.
Read More »Nearly All Metro Areas See Home Price Appreciation in Q2
According to the NAR, price gains were recorded in 85 percent of metro areas in the first quarter. In addition, 34 metro areas experienced double-digit increases in the second quarter, a decline from the 51 metro areas in the first quarter.
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