Steadier Housing Market In Next Year’s Forecast

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Over the past decade, housing market conditions have changed dramatically. The housing crash and subsequent price rebound have caused a shift from buyer’s to seller’s market. Add to that lower-than-normal mortgage rates and a lack of for-sale inventory and prospective home buyers could be forgiven for not knowing what to expect when they head out to look for a home. …

October Home Sales Increase Is First In Months

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Sales of previously owned homes rose 1.4 percent in October from the month before, according to new numbers from the National Association of Realtors. The increase was the first in six months. Lawrence Yun, NAR’s chief economist, said housing inventory is increasing and it’s bringing buyers back to the market. “After six consecutive months of decline, buyers are finally stepping …

Mortgage Rate Decline Breaks Upward Trend

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According to the Mortgage Bankers Association’s Weekly Applications Survey, average mortgage rates fell last week, reversing an upward trend seen over the past several weeks. Though the decline was slight, it affected all loan categories except those backed by the Federal Housing Administration. Joel Kan, MBA’s associate vice president of economic and industry forecasting, says rates slowed due to economic …

New Home Market Reacts To Rising Mortgage Rates

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For most of this year, new home builders have been optimistic. With high buyer demand and a stronger economy, the market for newly built homes was building some momentum. But, according to the most recent Housing Market Index from the National Association of Home Builders, conditions are changing and builders are reacting. In fact, the index – which measures builder …

How Student Loan Debt Impacts Home Buyers

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Young Americans want to own a home. Research consistently shows large majorities who say they aspire to one day become homeowners. And yet, the number of first-time home buyers active in the market has been lower than what is historically normal for several years. So why aren’t more young Americans buying houses? Well there are a number of factors at …

Number Of Listings With Price Cut Up In October

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One good way of measuring where home prices are headed is to look at how many homes for sale have had to adjust their initial listing price. If there are a lot of homes in your area with price reductions, it could be a sign that the local market is softening. And, according to one national report, it likely is. …

Majority Of Recently Sold Homes Were Affordable

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Naturally, affordability is a big consideration for anyone buying a home. After all, it’s a significant purchase and you want to be sure you’re getting a good deal. For that reason, recent reports of higher prices and rising mortgage rates may give you the impression that buying a house is out of reach. But new data from the National Association …

ORRA HOUSING MARKET REPORT – OCTOBER 2018

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Inventory plunge slows as median price continues rising and sale tip downward The drain of homes available for purchase in Orlando decreased to its slowest pace this year, with October showing just 2.3 percent fewer homes on the market than the same month in 2017. (May has shown the greatest discrepancy so far for 2018, with 17 percent less inventory …

Rising Rates, Stock Volatility Slow Mortgage Demand

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According to the Mortgage Bankers Association’s Weekly Applications Survey, demand for loans to buy homes fell last week. In fact, purchase application demand was down 2.3 percent from one week earlier. Joel Kan, an MBA economist, told CNBC there are a couple of factors that could be contributing to the decline. “Recent volatility in the financial markets and increasing rates …

Softening Market May Be Opportunity For Buyers

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The housing market has been hot for a while. As the number of buyers outpaced the number of houses for sale, competition and prices rose. But just as competition helps push prices higher, higher prices help motivate homeowners to sell. Which is where we are today. Americans feel now is a good time to sell a house and, as more …