Improvement Seen In Nearly 80% Of Metro Markets

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The housing market’s recovery has been gradual and, at times, volatile. But, according to new data from Freddie Mac, most local housing markets are showing improvement. In fact, 36 of 50 states are showing an improving three-month trend and 77 of the 100 cities tracked by Freddie Mac’s Multi-Indicator Market Index continue to see gains. The Index – which tracks …

Mortgage Rates Dip But So Does Demand

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According to the Mortgage Bankers Association’s Weekly Applications Survey, average mortgage rates fell last week across all loan categories, including 30-year fixed-rate loans with both conforming and jumbo balances, loans backed by the Federal Housing Administration, and 15-year fixed-rate loans. But despite the drop in rates, both refinance and purchase demand fell from the week before. In fact, the Refinance …

Majority Of Recently Sold Homes Were Affordable

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Nearly two thirds of new and previously owned homes sold between January and the end of March were affordable to a family earning the median U.S. income of $65,800, according to new data from the National Association of Home Builders. The NAHB’s Housing Opportunity Index found that housing affordability continues to improve due to favorable market conditions, including historically low …

Buying A House Now Will Save You Money

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According to a new report from the National Association of Realtors, buying a home today will save you more than $200,000 over the next 30 years. The data – part of an effort to weigh the financial benefits of owning a home vs. renting – revealed that the longer you wait to buy a home, the less money you’ll save. …

Americans Say Homeownership Is A Good Investment

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A recent survey conducted by the Federal Reserve Bank of New York found a majority of current homeowners and renters believe owning a home in their zip code is a good investment. In fact, more than 60 percent of survey participants said it was a very or somewhat good investment, while just 10 percent said it was a bad investment. …

Pending Home Sales Reach 9-Year High

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The National Association of Realtors’ Pending Home Sales Index measures the number of contracts to buy homes signed each month. Because the index tracks contract signings but not closings, it’s a good indicator of future home sales. According to the most recent release, pending home sales rose for the fourth consecutive month in April and reached their highest level since …

Home Loan Demand 14% Higher Than Last Year

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According to the Mortgage Bankers Association’s Weekly Applications Survey, applications for loans to buy homes are now 14 percent higher than they were one year ago. The year-over-year improvement is a positive sign for the housing market and indicates that there are more prospective home buyers looking to buy this spring. Still, on a week-over-week basis, purchase applications were virtually …

New Home Sales Beat Expectations In April

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New data released by the U.S. Census Bureau and the Department of Housing and Urban Development shows sales of newly built single-family homes rose 6.8 percent in April from the month before. The increase, which beat economists’ expectations for the month, put sales 26.1 percent above last year’s level. The results join other recent reports indicating that the housing market’s …

Residential Real Estate Gains Momentum

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Each month, Fannie Mae’s Economic & Strategic Research Group updates their outlook for the housing market and the broader economy. According to the most recent release, the group still expects the economy to pick up from a slow first quarter but they’ve adjusted their forecast for annual growth downward. Despite the change, however, Fannie Mae sees positive momentum in the …

Existing Home Sales Up 6% From Last Year

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In April, sales of previously owned homes were 6.1 percent higher than they were at the same time last year. But, though sales levels were elevated from the year before, they slowed a bit from March’s pace, dropping 3.3 percent on a month-over-month basis. Lawrence Yun, NAR’s chief economist, said the drop was due to a lack of available homes …