Home prices are slowing compared to a year ago. That’s prompting the share of properties considered “equity rich” to decrease and the share of “seriously underwater” properties to grow to 9.1% of all U.S., homes, according to a newly released report reflecting first-quarter data from ATTOM Data Solutions.At the end of the first quarter, more than 5.2 million U.S. properties were seriously underwater, meaning the combined balance of
For years, California markets dominated realtor.com®’s hottest housing market list. But the Midwest and Northeast are drawing in more house hunters online. Several newer markets, including some known for housing affordability, are gaining momentum among home buyers, according to realtor.com®’s monthly rankings for April.Each month, realtor.com® ranks markets based on how fast homes are selling and how many views the metro’s listings rece
A remodeling labor shortage continues to impact housing projects by increasing prices and delaying timetables, a new survey from the National Association of Home Builders shows. Remodeling jobs that involve carpenters, framing crews, bricklayers, and electricians are seeing some of the largest shortages.“The labor shortage continues to be one of the top concerns for remodelers across the country,” says Tim Ellis, the NAHB’s Remodelers chair
A Texas board is concerned appraisals could inflate following a potential breach in home price data to a county’s appraisal district. The Austin Board of REALTORS® is accusing the vendor of its MLS—CoreLogic—of selling home-sold data to a local appraisal organization and enabling “unauthorized exploitation” of MLS home price data in 2018.CoreLogic runs ABoR’s multiple listing service. ABoR claims that CoreLogic “inappropriatel
In the majority of cities, buyers who earn the median income where they live can afford a median-priced home there as well, according to a new study by online loan marketplace LendingTree. Therefore, most households considered middle-class are not being priced out of the housing market.However, “middle class” can be a broad term that consists of a variety of income levels. A household earning anywhere between two-thirds of the national median
It can be financially harmful to borrowers and investors to repeatedly refinance their mortgages, warns Ginnie Mae, a government-backed firm that guarantees government mortgage bonds. That’s why the institution is taking steps to crack down on the practice of “churning,” where lenders push borrowers to refinance their home loans over and over again.Homeowners may be drawn to the idea of lowering their monthly mortgage payments, but multiple
Following four weeks of rate increases, fixed-rate mortgages posted a drop this week. Rates remain well below their averages from a year ago, and Freddie Mac predicts that will be a boon to home sales over the next couple of months. This comes after the Federal Reserve voted Wednesday not to increase its benchmark rate.“Slightly weaker inflation and labor economic data caused mortgage rates to dip this week,” says Sam Khater, Freddie Mac
Corporate relocation volumes and budgets are increasing, helping employees to more easily make a move for a job. In particular, 60% of mid-size firms with 500 to 4,999 salaried employees reported relocation budget increases, according to national moving company Atlas Van Lines’ Corporate Relocation Survey. For comparison, about 40% of small firms (fewer than 500 salaried employees) and 40% of large firms (5,000-plus) saw employee relocation inc
Homeowners have been less transient in the last few years. In the first quarter of 2019, homeowners who sold their homes had owned them an average of 8.05 years, down slightly from a record high of 8.17 in the fourth quarter of 2018, reports real estate research firm ATTOM Data Solutions. Still, that's up a 7.75-year average recorded a year ago.Prior to the Great Recession, from the first quarter of 2000 to the third quarter of 2007, homeownershi
The median list price in the U.S. reached $310,000 in April—another record high that surpassed March’s high, realtor.com® reported in its April 2019 housing trend report this week. Listing prices continue to grow, despite an uptick in For Sale signs and home seller competition.“The U.S. median listing price set another record this month, which we expect it to continue to do through summer when prices typically hit their seasonal peak,” s
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