Existing Home Sales Unfazed By Rising Rates, Shockingly Low Home Inventory

Home sales clocked in at post-downturn bests in January, according to the National Association of REALTORS®. Not since the housing boom of the late-2000s have sales been this strong.

 

Here are the details from the Mortgage Report

 

 

Link: http://themortgagereports.com/25700/nar-existing-home-sales-january-2017-mortgage

It’s Official: Home Buying Is Popular Again

March 2015. That’s the last month in which there were more refinancing applicants in the market than home buyers. Homes are still a good value. Deals can still be found from home builders and home sellers alike. And, current mortgage rates are still low.

The National Association of REALTORS® (NAR) expects home prices to rise another four percent in 2017, after a healthy 6 percent increase last year.

Here are the details from the Mortgage Reports

 

Link: http://themortgagereports.com/25680/ellie-mae-home-purchase-vs-refinance-january-2017

Great Content for your Customers: Home Values Are Now 7% Above 2007 Peak

U.S. home values have continued to rise, pushing home prices to new, all-time highs, non-adjusted for inflation. The Home Price Index, which is published by the Federal Housing Finance Agency (FHFA), shows U.S. property values up another 0.4 percent in December. Home values have risen 59 months in a row, increasing 32% nationwide since 2012.

Here are the details from The Mortgage Reports

 

Link: http://themortgagereports.com/25757/fhfa-home-price-index-december-2016

Sales of mega-mansions geared toward Chinese buyers slump in the San Gabriel Valley submarket in Los Angeles

Mansions geared towards Chinese buyers — some featuring crystal chandeliers, marble floors and no fewer than eight bedrooms — were at one point selling like hot cakes in the San Gabriel Valley.

But more recently, as Chinese investors face stricter guidelines back home, homes have spent months sitting on the market with no takers.

While Chinese banks began cracking down on requests for foreign currency in 2015, a recent move by China’s State Administration of Foreign Exchange to enact stricter guidelines is starting to have broader effects on L.A.’s residential market.

Here are the details from the Real Deal

 

January 2017 Market Report: The Rest Ove

January 2017 Market Report: The Rest Overtake the West – U.S. home values rose 7.2 percent over the past year to a Zillow Home Value Index (ZHVI) of $195,300 in January, just 1 percent shy of peak value hit in April 2007. Several of the nation’s fastest growing housing markets can be found in the South — three Florida markets are among the fastest appreciating, as well as Nashville and Dallas. Rents rose 1.4 percent over the past year to a Zillow Rent Index (ZRI) of $1,… http://ow.ly/EDi6509LD0f

January Existing Home Sales Key Takeaway

January Existing Home Sales Key Takeaways: Strong Start to 2017 http://ow.ly/JIej509K0t7

January Home Sales Forecast: Seasonal Ad

January Home Sales Forecast: Seasonal Adjustment Disorder – Zillow expects existing home sales to fall 0.3 percent in January from December, to 5.47 million units at a seasonally adjusted annual rate (SAAR). New home sales should rise 2.4 percent from December, to 549,000 units (SAAR). Shifting patterns mean that December and January home sales have been less seasonal than historically has been the case. Tight inventory will continue to weigh on existing home sales, acc… http://ow.ly/JR2I509Ipw5

Q4 2016 Housing Affordability: Accelerat

Q4 2016 Housing Affordability: Accelerating Home Values, Rising Rates Cause Rapid Deterioration http://ow.ly/Bkmj509BzwL

Experts: 2017 Looks to be the Year in Wh

Experts: 2017 Looks to be the Year in Which Rising Mortgage Rates Finally Impact Home Value Growth http://ow.ly/1Mnw509srZd

Q4 2016 Homeownership Rate: Western Home

Q4 2016 Homeownership Rate: Western Home Buyers Help 2016 End on a High Note http://ow.ly/cvrR509f4Jq