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Showing posts from January, 2015

Housing Recovery Moving Slowly Despite Moderate Gains in Home Sales Housing Recovery Moving Slowly Despite Moderate Gains in Sales Author:  Brian Honea November 6, 2014 0 While home sales prices posted moderate gains in September, the housing market recovery as a whole is moving slowly, according to the  Wells Fargo Economics Group  Housing Wrap Up for October 2014. New home sales increased by only 0.2 percent month-over-month in September after shooting up by more than 15 percent in August. And while new home sales have increased by 22.6 percent since September last year, that percentage is perhaps more a reflection on the exceptionally weak sales numbers posted in September 2013, according to Wells Fargo. Existing home sales climbed by 2.4 percent from August to September, the highest percentage in 11 months. Year-over-year, existing home sales were 1.9 percent higher in September. The median price of new homes dropped sharply in September, according to

Millennials Can make a Difference

Tim Garton's Blog By  Tim Garton  | Agent in  94591   Report: Millennials Can Still Make a Difference In Housing Posted under:  Market Conditions ,  Rental Basics ,  Rent vs Buy   |  September 18, 2014 9:33 AM  |  73 views  |  No comments Email Alerts Send to a Friend Post to Facebook Post to Twitter RSS Despite concerns about their current presence, millennials still have a major role to play in shaping the housing market in the coming years, researchers assert in a  new report  from the Demand Institute  (TDI). Based on an analysis of economic and consumer research over the last 18 months, TDI predicts the number of households headed by millennials will reach 21.6 million by 2018, representing an increase of 8.3 million since 2013. That gain in younger household formations is expected to translate to $1.6 trillion spent on home purchases and $600 billion spent on rent in the next few years—more on a per-person basis than any othe

High Negative Equity Among Gen Xers Causing Housing Gridlock

High Negative Equity Among Gen-Xers Causing Housing Gridlock Posted in  Real Estate News  on  August 27, 2014   No comments Author:  Scott Morgan  August 26, 2014 Much has been said, and even more theorized, about why millennials are not buying homes at the same rate their generational predecessors bought when they were new-generation homebuyers themselves.  Zillow , however, may have found a real answer in the fact that generation X and baby boomers are largely underwater. According to Zillow’s latest  Negative Equity Report , high negative equity among Gen-X homeowners is causing gridlock in the U.S. housing market. Nearly 43 percent of homeowners between 35 and 49 are underwater on their mortgages. In contrast, only 15 percent of millennial homeowners (those between 20 and 34 years old) and 31 percent of baby boomers (50 to 64 years old) are underwater. This storehouse of negative equity among the two older generations limits millennials from homeownership mainly b

The Housing Recover and Credit

Opinion  |   December 22, 2014 Is Tight Credit Holding Back a Stronger Housing Recovery? By:  Ted Gayer Share on email Share on twitter Share on facebook Share on linkedin Share on google_plusone_share Share on stumbleupon Share on reddit Share on print The housing market recovery – in particular the recovery of housing starts and new home sales – continued in 2014, but was weaker than one would have expected given the improving labor market and the relatively low level of housing inventory. ADDITIONAL RESOURCES INTERACTIVE Top Economic Stories of 2014 December 22, 2014 Total housing starts in 2014 through November were 927,000, which is slightly higher than the full-year 2013 level of 925,000. New home sales through October were 373,000, up from 366,000 over the same time period in 2013. The changes in starts and sales in 2014 continued the slow annual increases from the lows of 554,000 starts in 2009 and 305,000 sales 2011, but are substantially l