united states housing market: Home Value Increase Doubles Inflation Rate - 03/30/16 02:31 AM

Home values in the United States are increasing at twice the rate of the nation’s inflation rate according to Mortgage News Daily. S&P/Case-Shiller released a home value index for January, suggesting that values in the US rose by 5.4% since January 2015, year over year. That rate is the same rate seen in December as well as the whole 3rd quarter of 2015, helping confirm that real estate values are still trending up.
The western region of the United States drove most of the home value appreciation in the nation. Several cities saw 10% home values rise by more than 10 percent. … (0 comments)

united states housing market: Home Equity Continues to Expand Across US - 12/23/15 12:42 AM
More United States borrowers got into the black in 2015 and reported having equity in some form on their home. Now, many of these buyers also have more equity in general, as home prices have improved and the housing market has recovered.
Household holdings in real estate totaled 21.825 trillion dollars in the 3rd quarter of 2015. In 2014, real estate holdings totaled 20.461 trillion. From 2014 to 2015, holdings increased by 1.365 trillion dollars.
Home mortgage debt hit 9.46 trillion dollars in the 3rd quarter. Compared to 2014, that figure rose by 0.078 trillion dollars.
The difference in holdings growth (1.365 trillion) over … (1 comments)

united states housing market: US Housing Market’s Third Quarter Best in Nearly a Decade - 12/22/15 02:38 AM
Existing home sales rose by 3.4% in the 3rd quarter of 2015 and has been one of the best quarters for the housing market in nearly a decade. The quarter has lead to a new annual rate of 5.48 million sales in 2015. Existing home sales increased by 8.4% compared to 2014.
In the United States overall, the single family median home price hit $229,000, up 5.5% from the third quarter of 2014. While home prices and sales continue to climb, their growth rates have slowed to a much healthier pace, providing a bit more depth and consistency to the US housing … (2 comments)

united states housing market: Federal Reserve Raises Short Term Interest Rate - 12/17/15 02:14 AM
By unanimous vote, the Federal Reserve agreed to raise the federal fund rate (aka short-term interest rate) showing their confidence in an improving United States Economy. The Fed will raise their rates from near zero to 0.25 to 0.5 percent, a decision that had been expected to come at several different points in 2015. The Fed will shift between 0.25 and 0.5 based on market conditions. They are also willing to adjust their strategy based on how the economy performs in response to the move.
The Fed has kept rates at near zero since 2008. During the recession, the Fed did all … (0 comments)

united states housing market: Property Taxes Rising Suggests an Improved Economy - 10/07/15 09:11 AM
Property tax collections increased by 3 percent over the past year. Collections increased by 13 billion dollars to a total of 503 billion collected. The figures include both commercial and residential property taxes.
Property taxes might be rising thanks to improving home values. State and local governments might be re-appraising homes to raise their listed value. Whether it has happened enough in different towns and states to affect the national average is unclear.
Interestingly, property taxes have taken up a smaller percentage of total tax collections than in recession years. In 2010, property taxes held 44.9% of the total share whereas now they … (1 comments)

united states housing market: Custom Home Building Increases - 09/28/15 04:43 AM
Custom Home building starts increased this year compared to 2013 and 2014 custom home start figures. Custom home starts are defined as homes built on an owner’s land, with either the owner or the builder acting as general contractor. The owner and builder have an agreement before the construction of a custom home.
Compared to other single family home starts, where the builder still needs to find a buyer for their home after completion, a custom home start can provide a builder with insurance that the home will sell while also providing a homebuyer the opportunity to customize each piece of the … (0 comments)

united states housing market: Home Inventory Improves in July, New Home Sales & Values Up Too - 09/10/15 08:25 AM
New home inventory increased by 218,000 units in July – great news for the overall housing market as it deepens and strengthens. The market has not seen such a high month-to-month improvement since March in 2010. Homebuilders continue to put more faith in the housing market by adding more homes to lure in prospective buyers. Although this time the rise in inventory did not lower home prices, steadily increasing inventory should help normalize the market—ideally to a consistent growth rate.
The housing market can take a big step forward by increasing existing home inventory in the future. Previous homeowners buy most new … (0 comments)

united states housing market: Housing Market Performs Well by Freddie Mac’s Recent Standards - 09/02/15 09:05 AM
According to some new figures released by Freddie Mac, the United States Housing market now may be the strongest it has been in years. Judging by their Multi-Indicator Market Index, it’s hard to disagree. The MiMi, as its called, suggests that our housing market has improved by 35% in comparison to October of 2010. With other recent index’s showing improvement as well, home buyers and seller alike should be heartened.
The index measures the stability of the US’s housing market through a variety of figures: on-time mortgage payments, employment, debt-to-income ratios and home purchase applications. Currently, the housing market is considered to … (0 comments)

united states housing market: Refinancing Drives Mortgage Application Increase - 09/01/15 04:23 AM
Homeowner’s looked to take advantage of low mortgage rates in late August and their attempts to refinance their loan helped raise total mortgage applications by 3.6 percent. Mortgage applications were 18% over numbers seen from a year ago.
As rates have dropped, homeowners have tried to take advantage and lock in low interest rates. According to CNN, turbulence in China caused these lower rates, allowing US homeowners a great opportunity to refinance. Refinancers surged over the week of the 16th, having 7% more applications than the week before – a large shift for an entire country.
The more mortgage activity, the better off … (0 comments)

united states housing market: June Home Sales Beating Prerecession Numbers - 08/11/15 07:09 AM
Existing home sales in June passed the highs for all of 2006 and hit the highest level it has been at since February of 2007. Home sales increased in June by 3.2% to a seasonally adjusted rate of 5.49 million units sold. Existing home sales made notable increases in February and March as well. Having these sales numbers outshining prerecession totals adds more evidence to the narrative that the housing market has returned to form.
The United States Housing market is moving quickly and at high volume. Forty seven percent of the homes sold in June had been on the market for … (0 comments)

united states housing market: Rental Market Hit New Highs in June - 08/07/15 04:33 AM
Rental prices continue to grow in the United States Housing Market making many wonder when and where the tipping point may come. The national effective growth rate for rental values went up by 5.1% in June to a 47 month high. Effective rent growths have also been at 5% for 5 consecutive months, a streak not seen since April 2009.
Tight occupancy has pushed rent even higher as the intense competition has allowed landlords to consistently raise rates while still finding tenants. The US rental occupancy rate now sits at 95.3 percent. Although renters have struggled to keep up with the recent … (3 comments)

united states housing market: Jumbo Loan Market Still Booming in 2015 - 08/06/15 09:31 AM
The US Jumbo Loan market continues to perform extremely well in 2015 after an already wonderful 2015. A jumbo loan is any loan where more than $417,000 is borrowed for a home purchase. In high priced markets, jumbo loans are not counted until someone borrows $625,000.
In 2014, jumbo loans took 19% of the total mortgage market, which had not been seen since 2002. In 2015, that number has risen to 20%. Even more enlightening, after only taking 1% more market share for total mortgages, jumbo loans took 36% more dollar volume than in 2014, reaching 160 billion in the first half … (1 comments)

united states housing market: Buyer Confidence Improves - Real Estate is Investment of Choice - 08/04/15 06:43 AM
For those still wondering if buyer confidence has returned to the United States Housing Market, they will be relieved when they read the new survey for released by Bankrate. According to their survey, real estate now ranks as the number one investment choice for Americans.
The company asked people how they would choose to invest their money if they had extra cash lying around. Twenty seven percent of Americans chose some form of property investment – the highest ranked answer of all other options. With signs of a normalizing real estate market, buyers are feeling confident that once again, real estate will … (0 comments)

united states housing market: Job Growth Bounces Back in April - 05/14/15 04:54 AM
The US continued to add jobs in April—great news for the economy overall as well as the housing industry specifically. The Bureau of Labor Statistics reported payroll employment expanded by 223,000 in April.
After a stagnant March, when only 85,000 jobs were added over the month, experts were worried that job growth had slowed. However, 266,000 jobs were also added in February 2015, suggesting that March may just have been a small blip on the job growth radar.
The unemployment rate fell from 5.5% in March down to 5.4% in April. In total, about 26,000 unemployed Americans found work in April.
The Federal Reserve … (1 comments)

united states housing market: United States Home Sales Down 4.9% in January - 02/23/15 04:11 AM
According to the National Association of Realtors (NAR), existing home sales fell 4.9% in January. Sales have not been so low since April of last year.
The United States has added 1 million new jobs over the past 3 months, but the improvement in wages and labor has not had the impact on the housing market for which experts had hoped. Low mortgage rates and job growth were expected to draw buyers back to the home market.
Now, experts are wondering if a spring sale rush will be had or whether United States real estate may be in for a slow 2015. Currently, … (2 comments)