ORRA HOUSING MARKET REPORT – JANUARY 2019

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Orlando inventory jumps 8 percent as sales slip 14 percent and median price hangs tight The Orlando housing market in January saw its third consecutive month of year-over-year increases in the number of homes available for purchase, along with a slide in sales and a holding steady of the median price. Orlando Regional REALTOR® Association President Jeffrey M. Fagan, Watson …

Home Buyers Finally Beginning To See Options

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Finding the right home involves a little bit of luck. After all, the chances that there’ll be a place in your price range, with all of the features you desire, in the neighborhood you want to live in, at the exact time you’re looking aren’t necessarily great. But, the more homes there are available for sale in the area you’re …

Mortgage Rates Are Dropping But So Is Demand

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According to the Mortgage Bankers Association’s Weekly Applications Survey, average mortgage rates were down across all loan categories last week. Rates fell for 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 rates having become more favorable over the past several weeks, demand for loans to buy …

Analysis Looks At Down Payments By State

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Saving for a down payment is often a big hurdle for buyers, especially those purchasing their first home. Without the benefit of equity from a previous home’s sale, first-time home buyers have to come up with the money from scratch. That can be difficult, especially if they live in an area where there are fewer homes available in an affordable …

How Long Do Buyers Spend Looking For A Home?

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Choosing a home to buy is a pretty big decision. For the amount of money and time you’ll end up investing, it wouldn’t be smart to make it a hasty one. But depending on how competitive your market is, you also can’t spend too much time deliberating over a particular property. So what’s a normal amount of time to expect …

Number Of Equity Rich Properties On the Rise

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Buying a home means making an investment in the real estate market. And, while it may not be your main motivation for buying, the chance that you’ll see a return on that investment is undoubtedly a good thing. It’s among the reasons that homeownership has retained its appeal over the years. It’s also why new numbers from ATTOM Data Solutions …

Americans See Affordability Conditions Improving

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Last year’s housing market had its challenges. Though there was plenty of interest from home buyers, too few homes for sale, rising interest rates, and high prices dampened some of the enthusiasm. Now, according to the most recent Home Purchase Sentiment Index from Fannie Mae, Americans may be feeling more optimistic about their options. That’s because, in addition to an …

Mortgage Demand Slips Even As Rates Fall

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According to the Mortgage Bankers Association’s Weekly Applications Survey, average mortgage rates fell sharply 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 though rates were more favorable, requests for mortgage loan applications still fell. In fact, overall demand was down …

Average Home Seller Profit Hits 12-Year High

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Homeowners who sold a house in 2018 saw an average gain since purchase of $61,000, according to new numbers from ATTOM Data Solutions. ATTOM’s Year-End 2018 U.S. Home Sales Report found that home sellers averaged a 32.6 percent return on investment when comparing the price their home sold for with the original purchase price. The improvement was an $11,000 increase …

Lenders Say More Homes For Sale Are Needed

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Fannie Mae’s quarterly Mortgage Lender Sentiment Survey asks senior mortgage executives for their perceptions of the market and forecast for the future. According to the most recent release, lenders point to an “insufficient supply of homes available for sale” as the primary reason for slow home sales growth last year. In fact, 48 percent of responding lenders said that too …