New Home Sales Skyrocket, Best in 10 Years

New Home Sales Skyrocket, Best in 10 Years: Sales of Newly Built Single Family Residences surged by 17.5% in November and 26.6% higher than this time a year ago and reached a level not seen in over 10 years. The sales pace hit 733,000 on an annualized basis (vs 579,000 this time in November 2016), […]

Home Builder Optimism at Highest Level Since 1999

Home Builder Optimism at Highest Level Since 1999: Builder confidence in the market for newly-built single-family homes increased five points to a level of 74 in December on the National Association of Home Builders Housing Market Index (HMI) which is the highest reported level since July 1999, over 18 years ago. “Housing market conditions are […]

Home Equity Gains, Underwater Mortgages Decline

Home Equity Gains, Underwater Mortgages Decline: According to the newly released CoreLogic Q3 2017 Home Equity Analysis, homeowners with mortgages (roughly 63 percent of all homeowners) have collectively seen their equity increase 11.8 percent year over year, representing a gain of $870.6 billion since Q3 2016. Additionally, homeowners gained an average of $14,888 in home […]

Pending Home Sales Best Since June

Pending Home Sales Best Since June: The Pending Home Sales Index, a forward-looking indicator based on contract signings, rose 3.5 percent to 109.3 in October. The index is now at its highest reading since June (110.0). Lawrence Yun, NAR chief economist, says pending sales in October were primarily driven higher by a big jump in […]

New Home Sales Hit 10 Year High, Average Sales Price above $400K for First Time Ever

Home Sales Hit 10 Year High, Average Sales Price above $400K for First Time Ever: The U.S. Census Bureau and the Department of Housing and Urban Development reported that New Home Sales for October hit a 10 year high with 685K units which beat out expectations of 620K. This was a 6.2% monthly gain over […]

New Home Construction Data Shows Strong Market

New Home Construction Data Shows Strong Market Two separate reports show that the housing industry is adding new supply to an inventory-strapped market and home builders are feeling good about it. The U.S. Census Bureau reported that October New Housing Starts were stronger than expected 1.29M vs est of 1.19M and September was revised upward. […]

Single Female First Time Home Buyers Increase to 2011 Levels

Single Female First Time Home Buyers Increase to 2011 Levels: The National Association of Realtors® 2017 Profile of Home Buyers and Sellers, which also identified numerous current consumer and housing trends, including: mounting student debt balances and smaller down payments; increases in single female and trade-up buyers; the growing occurrence of buyers paying the list […]

How Many Hours do Americans Need to Work to Pay their Mortgage?

How Many Hours do Americans Need to Work to Pay their Mortgage?: The visualization uses data from the U.S. Census for household income and Zillow for median home listing price, while calculating mortgage payments based on a standard 30-year term. With about 170 hours in a normal work month, the worst is in New York […]