According to the latest Census Bureau Report, sales of newly constructed homes soared to new heights in June to a seasonally adjusted rate of 592,000. This marks the highest annual rate in 8 years. Trulia’s Chief Economist, Ralph McLaughlin had this to say: “New home sales jumped sharply in June, and marked the best month [...]
Just over a month ago, the United Kingdom decided to withdraw from the European Union in a decision commonly known as Brexit. At that time there was a lot of speculation on how that decision would impact the U.S. residential mortgage market. Today, we want to look at the impact of the first 30 days. [...]
If you are debating purchasing a home right now, you are probably getting a lot of advice. Though your friends and family will have your best interest at heart, they may not be fully aware of your needs and what is currently happening in the real estate market. Answering the following 3 questions will help [...]
The widespread myth that perfect credit and large down payments are necessary to buy a home are holding many potential home buyers on the sidelines. According to Ellie Mae’s latest Origination Report, the average FICO score for all closed loans in May was 724, far lower than the 750 or 800 that many buyers believe [...]
According to the BMO Harris Bank Home Buying Report, 52% of Americans say they are likely to buy a home in the next five years. Americans surveyed for the report said that they would be willing to pay an average of $296,000 for a home and would average a 21% down payment. The report also [...]
In school we all learned the Theory of Supply and Demand. When the demand for an item is greater than the supply of that item, the price will surely rise. SUPPLY The National Association of Realtors (NAR) recently reported that the inventory of homes for sale stands at a 4.4-month supply. This is considerably lower [...]
With spring right around the corner, you may be wondering if you should wait to enter the housing market. Here are four great reasons to consider buying a home today instead of waiting. Prices Will Continue to Rise CoreLogic’s latest Home Price Index reports that home prices have appreciated by 6.3% over the last 12 [...]
An article in the Union Tribune shared some information about rents paid in major US cities. No doubt, you've heard about how fast rents are going up in the news. Even if you haven't, you may have first hand experience with a new and higher monthly rent on your lease. San Diego came in well behind [...]
I read an "interesting" article on MarketWatch.com. According to Alex Tabarrok, an economics professor at George Mason University, housing is an "overrated investment". Read the article if you like to see if you agree but I find it strange and (more than a little) dangerous of a message. Especially when we are now seeing a deepening [...]
There has been quite a bit of press about how Millennials are the first generation to abandon the traditional American aspiration to own their own home. Several reports and surveys from reputable sources refute that position. Why is this so important? Millennials (as you are likely aware) are the biggest American generation so far and [...]
