Valuations

New home sales decrease to new 2017 low in August

Median home price plummets
New home sales in August decreased to a seasonally adjusted annual rate of 560,000, a new low for 2017. However, housing inventory also increased, reaching 6.1 months at the current sales rate. But this uptick in new homes for sale did not bring the housing market to equilibrium, but rather, helped make up for the lack of existing homes for sale.
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Industry veteran Phil Huff joins Altisource as VP and head of valuations

Huff will lead Altisource’s valuation services, serve as president and CEO of Springhouse
Industry veteran Phil Huff will serve as president and CEO of Springhouse, a full-service appraisal management company and subsidiary of Altisource. Springhouse also announced the addition of George Paquette, who will serve as manager of valuations.
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NAR: Home sales may be falling, but housing sentiment is on the rise

Renters saying now is a good time to buy rebound
The number of homeowners saying now is a good time to sell their home hit a record high in the third quarter, and an increasing share of renters claim now is a good time to buy. However, this increase in sentiment is not translating into a higher number of home sales. The National Association of Realtors explains why.
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ATTOM: Americans want to live in high-risk cities

Home prices accelerate twice as fast in higher risk areas
Footage of natural disasters sweeping across the U.S. and the world in the recent weeks might make one believe that home prices would be lower where such terrible disasters are more prominent; however the opposite is actually true. In fact, ATTOM’s latest report shows home prices actually appreciate much faster in the riskiest cities.
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Freddie Mac: New home sales set to take over in 2018

Will help reduce home-price growth
Going into 2018, Freddie Mac predicted new home sales will continue to grow, even becoming the primary driver of home sales. This gradual increase in new homes, combined with gradual increases in mortgage rates, will help reduce rapidly-rising home prices next year. While Freddie Mac forecasts home prices will continue to increase, it will be at a slower pace.
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Homeowners gained nearly $13,000 in equity from last year

Home price increases driving up gains
Homeowners with mortgages continue to see their equity increase in their home. Individually, homeowners earned an average $12,987 in equity between the second quarter of 2016 and the second quarter of this year, but in Western states, this number is much higher.
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Home prices in Midwestern states drop in July

Nationally prices continue to increase
Home prices continue to rise monthly and annually across the nation, reaching all-new highs. But while home prices are increasing across the nation, one region, the West North Central division saw a drop in home prices of 0.5% from June to July.
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