As more homeowners see their property values rise, the number of homes that are seriously underwater continues to decrease. At the end of the third quarter, there were 4.6 million U.S. properties considered seriously underwater, which is down by more than 1.4 million properties from a year ago, according to ATTOM Data Solutions’ Q3 2017 U.S. Home Equity & Underwater Report. That marks the biggest year-over-year drop since the second quarte
The housing market may be facing some headwinds with ongoing inventory shortages and the looming threat of tax reform from lawmakers, but don’t let these stories spoil your outlook completely. There are several factors sparking more optimism in real estate lately. Here are a few housing indicators you can be thankful for this season:1. New-home sales neared a postrecession high in October.Some inventory relief may be coming to the housing sec
Homeowners should be feeling richer. The share of equity-rich properties rose to a new high—26 percent of homeowners with a mortgage in the third quarter, according to ATTOM Data Solutions’ Q3 2017 U.S. Home Equity & Underwater Report.In the third quarter, there were more than 14 million U.S. properties considered equity rich, which is when the combined loan amount secured by the property is 50 percent or less of the estimated market val
Existing-home sales in October rose to the strongest pace since earlier this summer, the National Association of REALTORS® reported Tuesday.Total existing-home sales—which comprise completed transactions of single-family homes, townhomes, condos, and co-ops—rose 2 percent month over month to a seasonally adjusted annual rate of 5.48 million. Sales are now at the strongest pace since June’s 5.51 million.However, sales remain 0.9 percent bel
Homeowners and appraisers are gradually seeing more eye to eye when it comes to home values. The latest Quicken Loans Home Price Perception Index shows that appraised home values in October were an average of 0.99 percent lower than homeowners’ expectations.That’s much better than it has been in the last two years, as rapid run-ups in home prices across the country have caused homeowner and appraiser perceptions to become misaligned. Over the
Florida is bracing for a potential housing boom as tens of thousands of Puerto Ricans flee to the state, leaving behind the island nation that is still reeling from Hurricane Maria’s devastation. But there are few answers for how to accommodate these refugees’ needs and what impact the population influx will have on Florida’s housing, school districts, and government agencies, real estate experts say.Puerto Rico—home to about 3.4 million
Home buyers say tight inventory and rising home prices are causing several negative trends in the housing market. According to ValueInsured’s latest Modern Homebuyer Survey, a quarterly report based on more than 1,000 responses, buyers say the following trends will leave the housing market in a weaker position: The “no inspection” trend: 58 percent The “offer sight unseen” trend: 57 percent The “co-buying with strangers”
The 30-year fixed-rate mortgage reached its highest average since July this week.“The 10-year Treasury yield ticked up 6 basis points, while the 30-year mortgage rate jumped 5 basis points to 3.95 percent,” says Sean Becketti, Freddie Mac’s chief economist. “Today’s survey rate is the highest rate in nearly four months.”Freddie Mac reports the following national averages with mortgage rates for the week ending Nov. 16: 30-year fixed-r
As anniversaries go, it's a nerve-racking but inescapable one: It's been 10 long years since the widespread real estate crash that precipitated the Great Recession, and all the misery that followed in its wake. So it seems like the perfect time to take a giant step back, peruse and analyze all of the data, and assess what has really happened to the American housing market in the decade since.So where are we, really?Ever-steeper home prices:
The House on Thursday passed a tax reform package that the National Association of REALTORS® calls a tax hike on many middle-class homeowners and says would lower property values for all homeowners. “It’s disappointing to see this legislation move forward, but the real work to shape this debate is just getting started,” NAR President Elizabeth Mendenhall said in a statement.The bill, called the Tax Cuts and Jobs act, was passed by a vote o
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