Home Prices Help Fuel Housing Market
According to the National Association of Realtors report, many metropolitan cities in the U.S. showed exceptionally high year-over-year home price gains. The report also states that the median price posting was the best rates seen in approximately eight years. These rates are all expected to help the housing market grow over the coming months and years.…
Read MoreEconomy Growth Exceeds Expectations
The U.S. economy has exceeded previously estimated rates showing a 0.3% increase from the second quarter of the year to the third quarter, averaging an annual rate of 2.8%. The Bloomberg news had previously said that the annual growth rate of the U.S. economy in the third quarter of this year would be approximately 2%.…
Read MoreChange In Top-Ten List For Growing Housing Markets
The housing market is speeding up in certain locations faster than others. Recent data shows that housing market recovery can be seen at its best in ten metropolitan cities and is ranked by measuring how many days houses are on the market, supply, and median home prices. The top ten turnaround housing markets have changed…
Read MoreHomebuilders Enter Peak Season
According to past data, homebuilders are entering their peak season, as November, December and January make up more than 75% of homebuilders’ annual returns. Experts suggest that the jump in supply is due to anticipation for the spring selling season. Keefe, Bruyette & Woods firm said, “the spring selling season is significant as its strength…
Read MoreHousing Market Continues To Improve
The housing market has been taking a lot of heat over the last few months as inventory decreased and mortgage rates increased, but many experts say the housing market is on the right track. Home prices jumped 12.8% in August according to Robert Shiller’s S&P/Case-Shiller housing index, the largest increase since early 2006. Shiller did not expect…
Read MoreFlood Insurance Premiums Force Homeowners To Move
Monthly premiums for approximately 1 million homeowners living in flood zones have increased due to the new flood insurance plan many coastal states require their homeowners to have. According to the Federal Emergency Management Agency, Florida, Louisiana, New Jersey, California, and Texas account for approximately two-thirds of all flood insurance policies causing monthly premiums to…
Read MoreHome Contracts Drop 5.6%
Existing home sale contracts dropped considerably, falling to the lowest level seen in over three years. Mortgage rates have also continued to increase over the past months, though rates have recently leveled off. According to the National Association of Realtors’ Pending Home Sales Index, contracts dropped 5.6% last month, averaging 101.6. Although experts suggest the…
Read MoreMany Experts Approve Reverse Mortgage Changes
As the reverse mortgage rules have changed, many older Americans are unsure of what the changes actually mean. The program was initially intended to help senior homeowners keep their homes by turning their mortgages into usable money, although the strategy seemed to backfire for many who used the program improperly. The new rule changes made…
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