Are the Kids Finally Moving Out?
During the recession, many young adults graduating from college were forced to move back in with their parents. This caused new household formations to drop dramatically from the long term average of 1.2 million formations annually to half that number. However, this may be the year this turns back around.
Low Inventory Causes Home Prices to Accelerate
The National Association of Realtors (NAR) released their latest Quarterly Metro Home Price report earlier this month. The report revealed that home prices are not only continuing to rise but that the increases are accelerating. Lawrence Yun, Chief Economist at NAR, discussed the impact of low inventory on buyers in the report:
How To Create Real Family Wealth [INFOGRAPHIC]
Buying a home is often the biggest financial decision that any family will make.
The average net worth of a homeowner is 45x greater than that of a renter.
Homeownership puts your housing costs to work for you.
Infographic was creat…
Mortgage Rates Again at Historic Lows
Just two weeks ago, we posted an article discussing where mortgage interest rates may be heading over the next twelve months. We quoted projections from Fannie Mae, Freddie Mac, the Mortgage Bankers’ Association and the National Association of Realtors. Each predicted that rates would begin to rise slowly and steadily throughout 2016.
Homeowner’s Net Worth is 45x Greater Than a Renter’s
Every three years the Federal Reserve conducts a Survey of Consumer Finances in which they collect data across all economic and social groups. The latest survey, which includes data from 2010-2013, reports that a homeowner’s net worth is 36 times greater than that of a renter ($194,500 vs. $5,400).
Existing Home Sales Bounce Back [INFOGRAPHIC]
Sales in December were 14.7% higher than those in November, marking the largest month-over-month increase ever recorded.
Inventory levels are still below historic norms at 3.9-months supply.
Median home price is up 7.6% from last yea…
Homeownership Finally Makes Political Debate
This is not a political post!
Finally, the issue of homeownership has become a platform talking point in this year’s presidential debate. Yesterday, one of the candidates running for President spoke out about the importance of homeownership in America.
Thinking of Selling? Why Now May Be The Time
It is common knowledge that a large number of homes sell during the spring-buying season. For that reason, many homeowners hold off on putting their home on the market until then. The question is whether or not that will be a good strategy this year.
Will Appraisals Continue to be a Challenge in 2016?
First American Title issues a quarterly report, the Real Estate Sentiment Index (RESI), which “measures title agent sentiment on a variety of key market metrics and industry issues”. Their 2015 4th Quarter Edition revealed some interesting information regarding possible challenges with appraisal values as we head into 2016.