The National Association of Realtors is reporting that overall pending home sales declined 0.7% in November. The NAR’s Pending Home Sales Index (a forward-looking indicator based on contract signings) declined to 101.4 in November. However, year-over-year contract signings dropped 7.7%, making this the eleventh straight month of annual decreases. “The latest decline in contract signings implies more short-term pullback in the housing sector and does not yet capture the impact of recent favorable conditions of mortgage rates,” Said Lawrence Yun, the NAR’s chief economist. Click here to read the full report at the National Association of Realtors.
Author: Brad Beckett
Brad Beckett
Director of Education & Outreach, National Real Estate Investors Association
Where are the hottest housing markets going to be in 2019? The folks over at Realtor.com have it covered for you. Using data from the 100 largest markets they looked existing home sales & prices and the amount of new home construction. Then they analyzed each area’s local economy along with population trends, unemployment rates, median incomes, and several other factors. Nationally, they predict that the number of overall home sales to decrease 2%, after years of steady climbs. However they point out that these 10 cities have the potential to be overachievers in 2019. Indeed… “The diversity of these…
A new report from online loan provider LendingTree reveals that over half of Americans cannot cover a $1,000 emergency with their savings. The study found that while 48% could handle such a hit, 6 in 10 have had an emergency in the past year that cost more than $1k and one third are in debt from an unrecoverable emergency. They got their data from an online survey of 1,000 Americans which was weighted for demographic representation. Either way, if you’re a homeowner or landlord you know how important it is to be prepared to deal with unforeseen contingencies. “From a…
What happens when you start investing in real estate right before the bubble was about to burst? A recent episode of the ICOR Podcast talks with Clint Macklin who tried to become a Real Estate investor back in the hay day of 2007 and 2008 but quickly realized just how hard the business can be (ups, downs, you name it). Now, after many years, a drive to succeed, and working with a mentor, Clint has been involved with several flips and now has a portfolio of properties in Cleveland, Ohio. Click here to listen at the Investment Community of the…
The chief economist for Redfin, Daryl Fairweather, recently discussed what she saw in the housing market for 2019 on CNBC’s “Power Lunch.” Among her observations, the housing market will continue to “cool,” there will be higher rates of homeownership, less new construction and fewer real estate agents & lenders. Indeed… Click here to read thr full story at CNBC.com.
The final weekend of 2018 is now upon us. We hope you had a great 2018 and wish you nothing but the best for whatever 2019 has in store! Today’s rather large infographic from WalletHub shares over 5o New Years Facts – which are perfect to spark a conversation or keep one going while you’re waiting to ring in 2019! Happy Friday and Happy New Year! Hat tip to WalletHub.
A program that millions of Americans rely on to protect themselves from the financial risks of flooding might be in jeopardy due to the partial government shutdown (taking place as of this posting). As reported by Politico, a bipartisan effort on capitol hill are pressuring FEMA to seek a reversal of a decision that reportedly ignores congressional intent, as Congress recently passed legislation intended to reauthorize the flood program’s operations through May, 2019. “Awful,” one congressional aide said of the agency’s decision. “FEMA botched it.” Click here to read the full story on Politico.com. UPDATE from HousingWire (12/27): FEMA rules…
A while back we had a post about a woman and her emotional support peacock trying to board a United Airlines flight at the Newark Airport. Now, in the spirit of humorous holiday travel (and a good marketing gimmick to boot) the Popeyes Chicken location at the Philadelphia Airport (Terminal C) is offering hungry holiday travelers an “Emotional Support Chicken.” As reported by AdWeek, it comes on the heals of recent questions & controversy about emotional support animals being allowed on flights without limits or any certification. In addition, AdWeek reports that Delta Airlines is no longer allowing puppies or…
According to the latest S&P CoreLogic Case-Shiller Indices, covering all nine U.S. census divisions, shows that home prices shows that the rate of home price increases across the U.S. slowed for the third month in a row. To that end, they reported a 5.5% annual gain in October, remaining the same as September. Their 10-City Composite annual increase came in at 4.7% and their 20-City Composite posted a 5% year-over-year gain. The S&P CoreLogic Case-Shiller Home Price Indices are one of the leading measures of U.S. residential real estate prices, tracking changes in the value of residential real estate both nationally…
A recent “chart of the week” from the Mortgage Bankers Association illustrates the number of owner and rental households with their corresponding income and housing costs burden. Using data from Harvard’s Joint Center for Housing Studies’ State of the Nation’s Housing Report, they show various demographic shifts between renting and owning taking place before and after the last recession. Perhaps most interesting was a post-recession shift from owning to renting among households earning between $30k and $75k. “The numbers tell an important story about affordability, and also about how households and the housing market interacted before, during and after the…
