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Existing-Home Sales Hit Highest Numbers Since Recession

The spring home-buying market was off to a strong start in March as buyers closed on the highest number of existing homes in a decade. And that's despite the lack of residences on the market. Sales of existing homes (that is, ones that have previously been lived in) hit about 5.71 million last month, according to the seasonally adjusted numbers in the most recent National Association of Realtors® report. That was a 4.4% rise from February and a 5.9% increase from the same month a year earlier. "Sales are the highest since the recession," says Joseph Kirchner, senior economist of rea... Read More

Mortgage Tips for Newbie Buyers

DAILY REAL ESTATE NEWS | TUESDAY, JULY 18, 2017 The more your home buyers know about mortgages, the better prepared they’ll be. The Motley Fool recently featured a range of mortgage tips to help educate first-time buyers, including: Know their credit score. The credit score can be a big key to knowing how much buyers can afford and how much interest they’ll be paying. Home shoppers should be encouraged to check their credit report and FICO score before even starting the homebuying process. Estimate how much can be borrowed. Lenders generally don’t like to see a mont... Read More

Case-Shiller: Pace of Home Price Growth ‘Not Alarming’

Home prices in the U.S. hiked to their highest level in more than two years in December, posting a 5.8 percent annual gain, according to the recently released S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index. Their pace, though substantial, is not “not alarming,” says David M. Blitzer, S&P Dow Jones Index Committee chairman and managing director. “Home prices continue to advance, with the national average rising faster than at any time in the last two-and-a-half years,” Blitzer says. “With all 20 cities seeing prices rise over the last year, questions ab... Read More

Existing-Home Sales Begin 2017 with a Bang

Existing-Home Sales Begin 2017 with a Bang Existing-home sales began 2017 with a bang, growing 3.3 percent and hitting a 10-year high in January, according to the National Association of REALTORS® (NAR). With the exception of the Midwest, every region saw gains, with total sales reaching 5.69 million—the fastest pace since February 2007. “Much of the country saw robust sales activity last month as strong hiring and improved consumer confidence at the end of last year appear to have sparked considerable interest in buying a home,” says Lawrence Yun, NAR chief economist. ... Read More

Jersey Shore town named one of East Coast’s most scenic spots by travel website

The beach at Beach Haven on Long Beach Island at sunset, Feb. 10, 2017. (Kelly Roncace | For NJ.com) Kelly Roncace | For NJ.com BEACH HAVEN -- One of Long Beach Island's most popular boroughs has been named one of the East Coast's most scenic spots. Beach Haven, the charming and serene seaside town, made Expedia Viewfinder's list as one of the most picturesque destinations between Maine to Florida. Nicknamed the "Queen City," the Ocean County borough was established in 1873 as a summer retreat for wealthy Philadelphians. In the 194... Read More

Over Half of Housing Markets Hit Price Peaks

More than half of housing markets saw home sale prices peak at the end of 2016, according to the National Association of REALTORS®’ (NAR) recently released quarterly report, contributing to the best quarterly sales pace of the year. Eighty-nine percent of markets saw home prices increase in the fourth quarter, compared to 87 percent in the third quarter, with 17 percent experiencing double-digital increases. “Buyer interest stayed elevated in most areas thanks to mortgage rates under 4 percent for most of the year and the creation of 1.7 million new jobs edging the job market clo... Read More

The One Big Real Estate Trend You Need to Understand in 2017

Housing Market Trends The One Big Real Estate Trend You Need to Understand in 2017 Kerry Close,Money Updated: Nov 27, 2016 9:58 AM EST Forget a tale of two cities: Extreme housing market fragmentation is now creating different experiences for home buyers and sellers in a wide range of locations and segments. Nationally, home prices are expected to keep rising, albeit more slowly— 3.5% in 2017, vs. 4.5% in 2016, per Moody’s Analytics projections. But even more so than in recent years, your position is now g... Read More

Zillow’s 2017 predictions

1. “Cities will focus on denser development of smaller homes close to public transit and urban centers.” Last week economist John Burns also pointed to development happening in certain parts of California reflecting the “surban” movement (when urban and suburb collide), in which revitalized suburban downtowns are starting to authorize new housing. (Read more about the Pacific Union forecast in full).  2. “More millennials will become homeowners, driving up the homeownership rate. Millennials are also more racially diverse, so more homeowners will be people of color,... Read More

If you’ve been on the fence about buying a home, 2016 is the year to take the plunge.

Mortgage rates have been bouncing around record lows for a while now. But even though they're likely to start going up, you haven't missed your chance to get a deal on a house. A number of factors are coming together, making next year a good time to buy: 1. Home prices will finally calm down Real estate values have been on the rise for a while, but are likely to slow their pace next year. Prices are expected to rise 3.5%,according to Zillow's Chief Economist Svenja Gudell. Buyers who've been stuck behind the wave of rising prices may finally get the chance to jump in. And... Read More