Items Tagged with 'home sales'

ARTICLES

  • Wondering why low mortgage rates haven't goosed the housing market? Here's the answer

    American household income fell in May, washing out the effect of low rates
    You can't get a mortgage if you don't have enough income to cover the payments. American household income fell in May, even with the unemployment rate at the lowest level in almost 50 years. Stagnant or even falling wages are making it tougher for Americans to buy homes as prices continue to rise, said Robert Dietz, chief economist for the National Association of Home Builders. That explains why cheap rates haven't goosed the housing market, he said.
    Read More
  • Most homebuyers would sacrifice a big yard for a shorter commute, realtor.com says

    New filter allows users to search for properties by their commute
    Realtor.com added a new filter that allows people to look at homes for sale based on the commuting distance to their work. The new search option, created in response to user feedback, is designed to help buyers understand how long it will take to drive to and from work before pulling the trigger on a home purchase, realtor.com said in a statement.
    Read More
  • Annual home-price growth reverses course, finally rises

    Falling rates give home sales a "shot in the arm"
    After 14 months of slowing home-price gains, the pace of growth picked up speed in May, increasing by 3.6% on an annual basis, according to the latest from CoreLogic. And, it seems things may pick up steam, with the forecast predicting home prices will rise 5.6% by May next year.
    Read More
  • Nationwide's Berson: 2019 will be "solid year" for housing market

    Index measuring housing conditions at highest point in three years
    Despite choppy data on the housing market over the last few months, Nationwide Chief Economist David Berson says 2019 will outperform 2018. ”We believe that the housing market is poised for another solid year as slower house price growth and lower mortgage rates help affordability,” said Berson, who was Fannie Mae’s chief economist for 20 years.
    Read More
  • Zillow is watching: New algorithm uses photos of your home to check quality and curb appeal

    Zestimate’s upgrade is a "building block" for expanding Zillow’s iBuying, chief economist says
    You know that dead shrub in the front yard that needs replacing, or that white picket fence that’s flaking paint? Better take care of that if you don’t want your home’s Zestimate to decline. Zillow announced on Thursday it has a new algorithm that uses photos to help decide the appeal and worth of your home. In some cases, Zillow even knows what the inside of your kitchen looks like.
    Read More
  • First American: A lack of housing inventory slows growth in potential existing sales

    In May, potential existing-home sales rose only 0.4% from April
    In May, potential existing-home sales increased only 0.4% from the previous month, according to First American’s Potential Home Sales Model. First American Chief Economist Mark Fleming said May's slowdown can be attributed to the housing market's unprecedented homebody era.
    Read More
  • WSJ: Phoenix is "petri dish" for America’s iBuying experiment

    Arizona's capital is proving ground for computerized flipping
    High-tech flippers such as Zillow and Opendoor are using algorithms to reshape the housing market, and Phoenix is the "proving ground," according to a Wall Street Journal story. The advent of iBuyers is just the latest challenge agents face in the Phoenix area, said Sam Miller, president-elect of the 10,000-member Phoenix Association of Realtors.
    Read More
  • Nantucket home sales jump 48% in May as wealthy Americans prepare for summer

    Average home price outstrips the Hamptons
    Real estate on Nantucket Island, the Massachusetts beach resort that’s pricier than the Hamptons, matched a record in May as wealthy Americans prepared for summer. The volume of home sales jumped 48% to $62.7 million from $42.4 million a year earlier, according to data from Lee Real Estate. The average price for a single-family home on the island 30 miles off the coast of Cape Cod was $2.2 million, a gain of 6.7% from a year ago.
    Read More
  • Home prices will increase 4.7% in the next year, says new CoreLogic estimate

    CoreLogic is more optimistic than other major forecasters such as NAR and MBA
    Home prices will increase by 4.7% on a year-over-year basis from April 2019 to April 2020, according to a CoreLogic estimate. That will be a faster pace than the 3.6% gain in the prior year, the report said. CoreLogic's projection is above forecasts by the Mortgage Bankers Association, Fannie Mae and the National Association of Realtors.
    Read More