Norris Bruce
Aug 13, 2019

And In Both Corners Of the Ring We Have…The Buyers and Sellers!

Today’s News Synopsis:

The slow home price growth last month could be a sign of tension between buyers and sellers.  The Mortgage Bankers Association reported a rise in mortgage delinquencies in the second quarter to a rate of 4.53%.  Meanwhile, the supply of new homes available decreased by 1% in the same quarter, the biggest decrease in 6 years.

In The News:

MarketWatch “America’s zip codes are becoming more economically segregated – here’s how it’s already hurting the middle class” (8-13-2019)

“It’s not a coincidence that income inequality has worsened as residential segregation has become more common.”

Realtor.com “Should You Prepay Your Mortgage?  The Pros and Cons” (8-13-2019)

“Should you prepay your mortgage? For some homeowners, it’s a financially savvy move—but for others, beefing up their loan payments just doesn’t make sense.”

HousingWire “July’s sluggish home price growth highlights tension between the nation’s buyers and sellers” (8-13-2019)

“The average American home listing price rose 5.5% to $315,000 in July, according to Realtor.com’s Housing Trend Report.”

Mortgage Bankers Association “Mortgage Delinquencies Rise in the Second Quarter of 2019” (8-13-2019)

“The delinquency rate for mortgage loans on one-to-four-unit residential properties increased to a seasonally adjusted rate of 4.53 percent of all loans outstanding at the end of the second quarter of 2019, according to the Mortgage Bankers Association’s (MBA) National Delinquency Survey.”

Redfin “New-Home Supply Down 1% in the Second Quarter, the Biggest Decline in 6 Years” (8-13-2019)

“Sale prices for newly built homes dropped 0.5 percent year over year to a median of $372,900 in the second quarter of 2019.”

CNBC “More signs point to a softer housing market, even as mortgage rates fall” (8-13-2019)

“Homebuilders and buyers alike are pulling back, even as mortgage rates fall to multiyear lows. The housing market is simply too pricey, and consumers are starting to worry about the economy and their personal finances.”

CoreLogic – “CoreLogic Reports U.S. Overall Delinquency Rate Remains Steady at 20-Year Low in May” (8-13-2019)

“CoreLogic® (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, today released its monthly Loan Performance Insights Report.”

Zillow “Most Young Adults Expect Climate Change to Affect Them Personally” (8-13-2019)

“As we enter the start of hurricane and fire season, a new survey by Zillow® shows half (50%) of residents of major U.S. metro areas believe climate change will affect their homes or communities within their lifetime.”

 

California Real Estate Investor Events

Bruce and Aaron Norris will be hosting a Florida Boot Camp in Fort Myers Florida August 15-16.

Bruce Norris will be presenting his latest talk 10 Decisions To Make Before The Next Downturn with InvestClub on Wednesday, August 21.

Aaron Norris will be presenting his latest talk Innovative Real Estate Marketing with WEREP on Friday, August 23.

 

Looking Back:

What were the best neighborhoods for buying rental homes?  The multifamily market continued to remain strong according to the latest analysis from Freddie Mac.  Meanwhile, luxury home prices showed a 5% slowdown in their growth.

 

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