Where Americans Moved in 2016
March 9, 2017 By Leave a Comment
- For the 5th year in a row, the Northeast saw a concentration of “High Outbound” activity.
- For the first time ever, South Dakota held the top spot for “High Inbound” states.
- Much of America’s outbound activity can be attributed to Boomers relocating to warmer climates after retiring.
Millennials Want To Buy Homes
March 5, 2017 By Leave a Comment
Despite dwindling savings and the challenges of the housing market, millennials still want to buy homes. Learn more about millennial home buyers from this infographic!
Existing Home Sales Reach Highest Mark Since 2007 [INFOGRAPHIC]
February 27, 2017 By Leave a Comment
- Sales of existing homes reached the highest pace in a decade at a seasonally adjusted annual rate of 5.69 million.
- January marked the 59th consecutive month of year-over-year price gains as the median home price rose 7.1% to $228,900.
- NAR’s Chief Economist, Lawrence Yun had this to say, “Much of the country saw robust sales activity last month as strong hiring and improved consumer confidence at the end of last year appear to have sparked considerable interest in buying a home.”
Prices Rose 7.1% Year-Over-Year
January 14, 2017 By Leave a Comment
- CoreLogic’s latest Home Price Index shows that prices rose by 7.1% across the United States year-over-year.
- With mortgage interest rates rising in the short term, CoreLogic believes price appreciation will slow to 4.7% by this time next year.
- 49 out of 50 states, and the District of Columbia, all had positive appreciation over the last 12 months, with the only exception being the state of Connecticut, which experienced a -0.5% appreciation.
New Home Sales Race to Keep Up with Demand
December 7, 2016 By Leave a Comment
- Many buyers who are searching for their dream homes are turning to new home construction after 10% of all new home buyers sighted a lack of inventory of existing homes as their reason for purchase.
- The median home price decreased slightly from September’s high of $314,100 to $304,500 in October.
- The West saw the largest month over month jump in sales at 28.7%.
Average Time to Foreclose Is Getting Shorter
October 19, 2016 By Leave a Comment
Properties in the third quarter took an average of 625 days to complete a foreclosure, down from 630 days a year ago. It was the first year-over-year decrease since ATTOM Solutions began tracking average foreclosure timelines in the first quarter of 2007.
Nineteen states saw their foreclosure timetables shorten from a year ago, led by Nevada (down 22 percent); Massachusetts (down 22 percent); Michigan (down 21 percent); Oregon (down 20 percent); and Texas (down 20 percent).
Meanwhile, the following states had the shortest foreclosure timelines, as of the third quarter: Virginia (196 days), New Hampshire (230 days), Texas (246 days), Minnesota (250 days), and Mississippi (253 days). All five of these states have non-judicial foreclosure processes.
View this chart of the U.S. to see your state’s average foreclosure timeline as of the third quarter:
Projections For Home Sales in 2017 Expected to Increase
October 2, 2016 By Leave a Comment
The National Association of Realtors, The Mortgage Bankers’ Association, Freddie Mac and Fannie Mae are all projecting that home sales will increase in 2017. Here is a chart showing what each entity is projecting in sales for this year and the next.