Here’s how climate change could also change home values Oct. 18th 2019
Poorer communities in the U.S. are more likely to face falling home values as they struggle to adjust to floods and rising insurance costs, according to an article from Bloomberg.
September’s home sales nearly hit 3-year high Oct. 18th 2019
In September, America’s home sales climbed 8.1%, representing the largest year-over-year increase since 2016, according to the RE/MAX National Housing Report. Once again, buyer demand outpaced home sales, resulting in the largest inventory decline in over a year.
Harvard: Number of cost-burdened senior households hits all-time high Oct. 17th 2019
Over the next two decades, households in their 80s will be the fastest-growing age group, according to a recent study by the Joint Center for Housing Studies of Harvard University.
The hidden housing problem: There just aren’t enough houses on the market Oct. 17th 2019
For all the talk about how this year will be a great one for the mortgage business, there's a problem underlying all that good news: There are simply not enough houses on the market to keep up with demand. According to a Zillow report, there are 102,112 fewer homes on the market in the U.S. in September than there were last year during the same month, a 6.4% drop.
Median sale price of luxury homes in Palm Beach more than tripled in Q3 Oct. 17th 2019
The median price of a luxury condominium and single-family home in Palm Beach, location of President Donald Trump’s Mar-a-Lago Club, more than tripled in the third quarter from a year earlier to a record $16.5 million. Demand for luxury homes in Florida has increased as wealthy families flee high-tax states.
U.S. housing starts drop 9% in September Oct. 17th 2019
Housing starts dropped 9.4% in September to a seasonally adjusted annual rate of 1.256 million and the pace for August was revised upward, according to the Department of Commerce.
BuildFax: Housing construction slowdown may be easing up Oct. 16th 2019
For all of 2019, BuildFax Housing Health Reports have revealed that single-family housing authorizations – what it considers a key indicator of historic recessions – have been decreasing. But the latest BuildFax Housing Health Report has a different tune to it. According to the report, single-family housing authorizations rose 3.57% month over month in September.
People still want to live near public transportation, but it’s getting more expensive Oct. 16th 2019
Living near public transportation has become more and more expensive over the last several years, a new study from the National Association of Realtors and the American Public Transportation Association revealed. The study showed that home prices and rents in neighborhoods located within a half-mile of public transit services rose much faster than those in areas located farther from public transit.
U.S. homebuilder confidence rises to a 20-month high Oct. 16th 2019
Low interest rates and a strong job market propelled homebuilder confidence to 71 points in October, the highest reading since February 2018, the National Association of Home Builders and Wells Fargo said in this month’s Housing Market Index. Greg Ugalde, NAHB’s chairman, said a reduction in new-home inventory is helping to support the market.
Total student debt could buy every U.S. house on market…twice Oct. 15th 2019
Total student debt in the U.S. reached $1.5 trillion, a new all-time high, according to a new study by realtor.com. But what does that mean for the housing market? Together, $1.5 trillion is enough to buy every single home on the market in the U.S. Twice.