Items Tagged with 'National Association of Realtors'

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Realtors: Majority of metros hit peak levels in 2016

Housing supply hit record lows
In 2016, the housing market saw existing home prices hit new highs in many markets, and housing inventory hit new lows. While this sounds great for sellers, homebuyers struggle to find an affordable home. NAR explains when homebuyers should start searching for a home to avoid competition and get the best price.
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Realtors ask Trump to reinstate FHA mortgage insurance premium cut

Estimates reduced MI premiums could bring in 40,000 new homebuyers
The National Association of Realtors believes that the Trump administration’s recent decision to suspend a reduction in the Federal Housing Administration’s annual mortgage premiums will keep as many as 40,000 potential homebuyers from becoming actual homebuyers in 2017, and wants the premium cut reinstated “as soon as possible.”
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Ten-X predicts increase in January existing home sales

But will struggle with low inventory
After December’s decrease in existing home sales, Ten-X predicts January will bring a fresh start with new increases. It also predicts a continued rise in home prices for the month. Here’s more on the company’s predictions, and how close those predictions were in December.
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Pending home sales close out 2016 on a high note

NAR explains what to watch for in 2017
Pending home sales finished the year out strong with an increase in December. However, sales were still weighed down by low inventory levels. The National Association of Realtors’ chief economist explains why that burden could start to lessen in 2017.
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Existing home sales close 2016 as best year in a decade

Even after 2.8% decrease in December
Home sales slipped in December, but not enough to keep 2016 from being the best year in a decade for existing home sales. However, despite this slip in home sales, inventory continues to struggle. In fact, housing inventory just hit the lowest level in the history of NAR’s report.
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Housing industry welcomes FHA mortgage insurance premium cut

Positive reaction from across the industry
The Federal Housing Administration surprised some in the housing industry on Monday by reversing course and announcing plans to cut its annual mortgage insurance premiums, less than two months after saying there were no plans for further cuts. Reactions to the FHA’s announcement varied from welcoming the cuts to wondering why it took the FHA so long to make the move.
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Rising interest rates already slowing home sales

Pending home sales fall to lowest level since January
Recent reports showed the impact of the post-election rise in mortgage interest rates on borrowers looking to refinance, with higher interest rates shrinking the pool of borrowers who have incentive to refinance. Now, the housing industry is getting its first look at how higher interest rates may also affect the purchase market, as a new report from the National Association of Realtors shows that pending home sales slowed in November to the lowest level since January.
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