Valuations

Home prices jumped the most in these 10 housing markets

Most expensive metro holds increase double that of national average
As home prices continue to rise, some metros stood above the rest. Unsurprisingly, most metros in the top 10 lie on the West Coast including areas such as San Jose and San Francisco. The latest report from Black Knight shows which metros held the highest increase in home prices in March.
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Experts agree – home prices not back to bubble-era levels

Affordability slips lower in March
Home prices continue to rise across the U.S., leading some to wonder if the housing market is back to its bubble era years. However experts agree home prices are far below pre-crisis levels. Using calculations that show “real home prices” experts explained affordability is decreasing, and even low historically, but not close to the bubble years.
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Pending home sales see largest drop since 2014

Drop for second consecutive month
Pending home sales dropped for the second consecutive month as low inventory levels continue to hold back property purchases. April’s drop represents the first annual decrease since December and the largest decrease since 2014. As for the forecast – inventory levels won’t be increasing anytime soon.
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Seller's market: Experts predict home prices will just keep rising

Good news for sellers, but buyers face a daunting reality
Case-Shiller results showed home prices increased at their fastest annual pace in nearly three years. Now, experts are saying that pace won’t slow anytime soon. And while this is good news for sellers, experts explain buyers face a different and more daunting reality – competition is fierce, budgets may be strained and nerves will be frayed.
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Grassroots military organizations ask Congress to save the CFPB

VoteVets, Common Defense say that CFPB protects servicemembers
As the Financial CHOICE Act winds its way through the House of Representatives, two grassroots organizations that represent current and former members of the military are asking the members of Congress to leave the Consumer Financial Protection Bureau alone and allow the bureau to continue functioning as it does now.
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OfferPad signs on for Zillow's "Instant Offers" home-buying program

Begins making offers to home sellers in pilot program
It’s now been a few days since Zillow sent the housing business into a bit of a fervor when it announced that it was getting into the home-selling business with its “Instant Offers” program, and more details about how the program will work are beginning to emerge. Now, another of the participating investors has revealed itself.
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Have issues with the Zestimate? Zillow is offering $1 million to fix it

Online real estate giant launches contest to improve property valuation algorithm
Zillow knows its “Zestimate,” the online real estate giant’s property value estimation tool, isn’t perfect. Even after years of consistently working on the algorithm that powers the Zestimate, Zillow acknowledges that its Zestimate error rate is still 5% nationwide. But Zillow wants to do something about it, and it’s offering up a sizable carrot for anyone who can make the Zestimate better: $1 million.
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Trump budget surprise: Gutting the CFPB

Budget proposal shifts appropriations to Congress, then slashes funding
The impact of President Donald Trump’s 2018 federal budget proposal would certainly be felt in the housing industry via the 13% cut to HUD's budget, but that’s hardly the only impactful move that the budget proposal holds. Buried on the second-to-last page of Trump’s budget is a move that is sure to please Trump’s fellow Republicans and many in the housing industry as well – gutting the Consumer Financial Protection Bureau.
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Experts: New home sales need to double to hit historic norms

Experts point out new home sales still high compared to 2016
After several months of high gains in new home sales, sales of new single-family homes came tumbling back down in April. Many experts agree the drop was somewhat expected and remains high compared to last year. However, new home sales still lag behind the historic average.
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