The Commercial Sector Is Improving! According to Lawrence Yun, NAR chief economist, the commercial real estate market is continuing to improve due to an improved economy and an increase in jobs. Good news! To visit the National Association of Realtors® website and read the original article “Commercial Real Estate Sectors Steadily Improve” please, Click Here!
Mortgage rates for a 30 year mortgage hit a four-month high yesterday at 3.53% according to Bloomberg Businessweek. Just how high will mortgage rates creep this year according to the Mortgage Bankers Association? To read the full article, Click Here. If you have buyers on the fence or wanting to wait out short inventories, this […]
Median Home Prices Hit Seven Year High: The National Association of Realtors (NAR) recently reported in their quarterly findings that the median home prices in the fourth quarter of 2012 showed its highest year-over-year increase in seven years. The median existing single family home prices rose in 133 of the 152 metropolitan statistical areas (MSA’s). […]
In his “State of the Union” address this week, President Obama indicated that although the housing market is “healing”, tight mortgage lending conditions are holding the economy back and this needs to be fixed. Furthermore, the president asked Congress to send him the bill which would give “every responsible homeowner in America the chance to […]
In the News: Buyers are expected to stay in their homes even longer today than ever before. Between 1985 and 2007, the typical buyer could be expected to stay in their home 12 years. Data collected from the 2011 American Housing Survey (AHS) shows that home owner mobility has declined since 2007. Based on these […]
2013 is only three days old, yet it has ushered in a huge economic harbinger with the bill to circumvent the fiscal cliff, signed by the President just hours ago. While approval of these tax cuts for 98% of Americans coupled with curtailing automatic deep spending cuts (including cuts to unemployment) should avert another recession, […]
The 55 plus market is showing strong signs of recovery. There are three segments of the 55 plus market which include: single family housing, multifamily housing and rental housing. In the 3rd quarter of 2012 the single family segment showed significant improvement in the demand for new homes. The 2012 55 plus index tripled over […]
Just when we thought our inventory challenges couldn’t get any worse … well they can. The Mortgage Bankers Association reported that delinquency rates fell 18 basis points in the third quarter of 2012 to 7.4%. This lower rate was driven by a drop in loans 90 days or more past due. The foreclosure inventory rate […]
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No Comments » HOUSING MARKET SHOWS CONTINUAL IMPROVEMENT The National Association of Home Builders reported that the list of expanding markets has increased by 22 to a total 125 markets. The Improving Markets Index (IMI) identifies improvement in metropolitan areas in single family housing permit growth (US Census Bureau), employment (Bureau of Labor Statistics), and house price appreciation […]
Recently one of my clients forwarded an article to me about unemployment in their area. The gist of the article was that jobless claims are up in the Kennewick area. When the contents of this article hit my client’s marketplace (Kennewick, a town in Eastern Washington), he told me the article had people so concerned […]
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