National

Builder Confidence Healthy in July

July 21st, 2018
Builder confidence is healthy, according to the latest National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI). The Index reading is 68; an above-50 reading indicates more builders have a positive outlook than a negative one. “Consumer demand...

NAR: 6 Percent Bump in Memberships, With Diverse Entrants

July 22nd, 2018
Membership in the National Association of REALTORS® (NAR)—which, for agents and brokers, denotes higher standards than what is required by their respective states—has increased in the last year, from 1.22 million to 1.3 million, according to the 2018 NAR Member...

Employment Gains Push Rents Up

July 23rd, 2018
Driven by employment growth, the cost of a single-family rental rose 2.9 percent year-over-year, according to the April CoreLogic Single-Family Rent Index (SFRI). Rents have risen for the past eight years, but have been decelerating since February 2016, when they...

Existing-Home Sales Slip, but Inventory Stirs

July 23rd, 2018
Barely budging against imbalanced inventory, existing-home sales slipped at the start of summer, the National Association of REALTORS® (NAR) reports. Activity in June declined 0.6 percent to 5.38 million, down 2.2 percent from the prior year; however, inventory increased 4.3...

Mortgage Rates Roused After Slipping for Weeks

July 28th, 2018
Mortgage rates roused this week, with the average 30-year, fixed mortgage at a 4.54 percent rate, up from 4.52 percent the prior week, according to Freddie Mac’s Primary Mortgage Market Survey® (PMMS®). The average 15-year, fixed mortgage rate was 4.02...

Homeownership Rate Ticks Up

July 29th, 2018
At the height of real estate season, the homeownership rate ticked up. According to Census data, the homeownership rate has risen to 64.3 percent—a departure from the first quarter of 2018, when the homeownership rate was 64.2 percent, as well...

International Real Estate Sales Slide in U.S.

July 29th, 2018
Against insufficient inventory and mounting prices, international sales are sliding, according to the National Association of REALTORS® (NAR) 2018 Profile of International Transactions in U.S. Residential Real Estate, an annual survey. Foreign home purchases sank 21 percent from April 2017...

Appreciation on a Decelerating Trend

July 30th, 2018
Appreciation is on a decelerating trend, according to ATTOM Data Solutions’ latest quarterly report. On a national scale, prices rose 6.3 percent in the second quarter of 2018—the fifth quarter in a row of slowing. “Annual home price appreciation nationwide...

Contracts Flicker in June, but Pending Sales Still Underwhelm Year-Over-Year

July 30th, 2018
With an 0.9 percent gain month-over-month, June pending sales slightly sparked, according to the National Association of REALTORS® (NAR) Pending Home Sales Index (PHSI)—but, on an annual basis, contracts still underwhelmed, down 2.5 percent. From May to June, activity increased...

Case-Shiller: Housing Market Pressured by Prices

July 31st, 2018
Affordability is beginning to drag on housing, and there is little price relief in sight, according to the latest S&P CoreLogic/Case-Shiller Indices, which found May prices rising steadily, at 6.4 percent year-over-year. “Not only are prices rising consistently; they are...
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