September, 2020

Wow — 6 million existing home sales! However, context is key with 2020 housing market data

Housing Wire

Painter Kenneth Noland said, “Context is key – from that comes the understanding of everything.” Whether that is true in the world of art I could not tell you, but it is most certainly true in the world of economics. What are numbers but meaningless points?

Sales 284

No seasonal slowdown this year as real estate agents report a busier-than-usual fall

Housing Wire

Realtors can usually count on their biggest season being spring, followed by summer, but nothing about 2020 has been normal, including home-buying patterns. With shut-down orders in the spring, summer became the new home-buying season, but homebuyers were still incredibly active in August.

Agents 286
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Commercial Real Estate: Post-Coronavirus Market Outlook

RIS Media

A global view of the pandemic’s impact on the commercial market. The world has changed dramatically since the coronavirus outbreak, and global real estate markets have not escaped its impact. The pandemic has magnified and accelerated a number of sector trends for the longer term.

Why Selling this Fall May Be Your Best Move

Keeping Current Matters

If you’re thinking about moving, selling your house this fall might be the way to go. Here are four highlights in the housing market that may make your decision to sell this fall an easy one. Buyers Are Actively in the Market.

Home Prices Up 13%, Biggest Increase Since 2013

Redfin

Buyers seem undeterred, as pending sales soar 28% and a 9% increase in new listings brings little relief. Key housing market takeaways for 434 U.S. metro areas during the 4-week period ending September 6: Median home sale price increased 13% from 2019 to $319,178—the highest on record.

Sales 114

Short Sale Mortgage Loans: What Borrowers Need To Know

HomeLight

Did you know that around 33% of homebuyers are reduced to tears by the process of buying a home? Doing your research and being prepared can go a long way toward reducing house-hunting anxiety. But what if you’re buying a short sale?

More Trending

Brokerage uses VR to get consumers inside houses that haven’t been built yet

Housing Wire

Urban District Realty , a Washington, D.C.-based based brokerage, announced last week the launch of its custom real estate listing system, PROJETO. This system uses virtual reality technology which allows clients to be put in a virtual representation of a property that hasn’t been built yet.

5 Ways Big Data Drives Innovation in Real Estate

RIS Media

It’s a complicated, competitive world out there, made even more complex by the powerful pandemic that turned life upside-down for so many people. For real estate brokers, agents and investors, the initial freeze on the residential real estate market quickly turned to frenzy.

Homebuyer Demand Is Far Above Last Year’s Pace

Keeping Current Matters

Homebuying has been on the rise over the past few months, with record-breaking sales powering through the market in June and July. Buyers are actively purchasing homes, and the momentum is continuing into the fall. It is, however, becoming harder for buyers to find homes to purchase.

Sales 263

Housing Market Sees Biggest Uptick in New Listings in Almost 2 Years as Pending Sales Surge 21%

Redfin

Record-low inventory of homes for sale has “created a complete storm of insanity,” in small, affordable markets like Boise, which is seeing an influx of buyers leaving the West Coast.

Sales 112

OREA pitches land transfer tax holiday, renovation tax credit

REM Online

The following content may have been republished here without the author's permission. The original post can be found at the following URL: OREA pitches land transfer tax holiday, renovation tax credit.

Land 109

Canadian Mortgage Debt Passes 80% of GDP For The First Time

Better Dwelling

Canadians love mortgage debt, and most households consider it low risk. However, they might love it a little too much. Mortgage debt has seen astronomical growth over the past couple of decades.

Home prices post record two-month gain, FHFA says

Housing Wire

Home prices jumped more than 2% between May and July, the largest two-month gain on record, as Americans emerging from COVID-19 lockdowns bought real estate, the Federal Housing Finance Agency said in a Wednesday report.

Loans 285

Is It Time to Revamp Your Networking Strategy?

RIS Media

Is networking as we know it gone? With the impact of social distancing, the days of wine and cheese gatherings have come to a screeching halt, but that’s no reason to put your networking activities on hold. In the bestselling book, “Build Your Dream Network,” author J.

Homebuyer Traffic Is on the Rise

Keeping Current Matters

One of the biggest surprises of 2020 is the resilience of the residential real estate market. Lawrence Yun, Chief Economist of the National Association of Realtors (NAR), is now forecasting that more homes will sell this year than last year.

Seemingly Invincible, the Housing Market Posts More Strong Gains—Pending Sales Up 20%, Prices up 11%

Redfin

Key takeaways for the 4-week period ending August 23: New listings of homes for sale were up 4% from a year ago—the largest increase since the four-week period ending March 15—but active listings continued to fall, down 28% from 2019.

Sales 109

Christopher Alexander: A decline in real estate prices is unlikely

REM Online

The following content may have been republished here without the author's permission. The original post can be found at the following URL: Christopher Alexander: A decline in real estate prices is unlikely.

Mortgage rate and housing market predictions for late-2020

The Mortgage Report

We asked 10 housing and finance experts for their mortgage rate predictions and housing forecasts for late-2020. Here's what they said. Mortgage Rates Mortgage Strategy Real Estate

Sales of existing homes surge to a 14-year high

Housing Wire

Sales of existing homes rose to a 14-year high of 6 million in August, the National Association of Realtors said in a report on Tuesday. Combined sales of single-family houses, townhomes, condominiums and cooperatively owned apartments rose 2.4% from July, according to the report.

Sales 285

Freddie Mac: Mortgages Hit Another All-Time Low

RIS Media

Freddie Mac recently released the results of its Primary Mortgage Market Survey ®, which showed that the 30-year fixed rate mortgage is averaging 2.86 percent—the lowest in survey history, which goes back to 1971. Here’s the breakdown: 30-Year Fixed-Rate Mortgage. Averaged 2.86

Where Are Home Values Headed Over the Next 12 Months?

Keeping Current Matters

As shelter-in-place orders were implemented earlier this year, many questioned what the shutdown would mean to the real estate market. Specifically, there was concern about home values. After years of rising home prices, would 2020 be the year this appreciation trend would come to a screeching halt?

This Week’s Top Stories: Canadian Real Estate Prices Forecasted To Fall, As Households Make Fewer Payments

Better Dwelling

Time for your cheat sheet on this week’s most important stories. Canadian Real Estate Moody’s Doubles Down On Forecast Of Canadian Real Estate Prices Falling Soon One of the world’s largest credit rating agencies confirmed an early forecast of falling home prices in Canada.

Second homes and the principal residence tax exemption

REM Online

The following content may have been republished here without the author's permission. The original post can be found at the following URL: Second homes and the principal residence tax exemption.

Homebuyers on a $2,500 Monthly Budget Can Afford $33,000 More With Low Mortgage Rates, But Higher Home Prices Cancel Out Increase

Redfin

Historically low rates are motivating homebuyers even though prices were up 8.2% year over year in July, effectively cancelling out the 6.9% increase in purchasing power.

Sales 103

Home-price index gains the most since 2018

Housing Wire

The S&P CoreLogic Case-Shiller index of home prices in 20 U.S. cities gained 3.9% in July from a year ago, the biggest advance since 2018, as rock-bottom mortgage rates made it possible for people to bid higher for properties. The increase was bigger than the 3.5%

Sales 284

STOP giving Zillow your ad money, listing data – today, they’re a competing brokerage

The American Genius for Real Estate

(REAL ESTATE) We've warned of this for years, the industry funded it, and Zillow Homes brokerage has launched, and there are serious questions at hand.

Housing Market on Track to Beat Last Year’s Success

Keeping Current Matters

Back in March, as the nation’s economy was shut down because of the coronavirus, many were predicting the real estate market would face a major collapse. Some forecasts called for a 15-20% decline in transactions. However, six months later, it seems as though the housing market has fully recovered.

How mortgage rates move when the Federal Reserve meets

The Mortgage Report

The Fed adjourns from a 2-day meeting Wednesday. The group doesn't set mortgage rates but it can influence them. How this week's meeting could affect your refinance and purchase mortgage rate. Federal Reserve federal reserve FOMC Housing Mortgage mortgage rates Real Estate

2021 = Market Compression

BubbleInfo

The 2021 selling season should be the craziest market in the history of the world. My theory: The covid-19 pandemic has jumbled the usual timing of the elective movers, and we are experiencing a not-natural compression of reasons to move.

Full Speed Ahead

RIS Media

The CENTURY 21® Brand’s Forward-Thinking Approach. Editor’s Note: This is the cover story in the August 2020 issue of RISMedia’s Real Estate magazine. Subscribe today.