Today’s News Synopsis:
2019 Winter home maintenance To-Do list. Existing-home sales increased for the second month in a row by 1.9% to 5.32 million. However, they were lower year-over-year as a result of what was believed to be affordability still being an issue.
In The News:
NAHB – “Single-Family Starts Drop in November as Builders Face Affordability Concerns” (12-19-2018)
“Rising housing affordability issues continue to hinder single-family production even as total housing starts increased in November.”
“We predict that the housing market will continue to cool into the first half of 2019. Inventory will rise back up to 2017 levels, and price growth, while likely still positive, will be the lowest we’ve seen since 2014 or possibly even 2011.”
CoreLogic – “CoreLogic Reports Rent Prices Are Plateauing in Select Metros Despite High Employment Growth” (12-19-2018)
“CoreLogic® (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, today released its latest Single-Family Rent Index (SFRI), which analyzes single-family rent price changes nationally and among 20 metropolitan areas.”
National Association of Realtors – “Existing-Home Sales Increase for Second Consecutive Month” (12-19-2018)
“Existing-home sales increased in November, according to the National Association of Realtors®, marking two consecutive months of increases. Three of four major U.S. regions saw gains in sales activity last month.”
Realtor.com – “Your Winter 2019 Home Maintenance To-Do List: Have You Checked It Twice?” (12-19-2018)
“We won’t sugarcoat it: The thought of doing home maintenance right now is pretty blah—especially with the holidays looming and weeks of gloomy winter days on the horizon.”
HousingWire – “Federal Reserve raises rates at December meeting” (12-19-2018)
“During its two-day December meeting, the Federal Reserve elected to raise interest rates for the fourth and final time in 2018.”
Investing.com – “U.S. Existing Home Sales Continue to Suffer From Affordability” (12-19-2018)
“Investing.com – Although sales of previously-owned U.S. homes unexpectedly increased from a month earlier in November, they remained lower year on year as affordability remained a problem for the American real estate market.”
ZD Net – “Machine learning helps mortgage provider with its digital transformation” (12-19-2018)
“Robotic process automation, advanced data modeling, and predictive analytics also part of a strategy to enhance the business.”
Bruce Norris will be presenting his latest talk 10 Decisions To Make Before The Next Downturn with Prosperity Through Real Estate on Wednesday, January 2.
Aaron Norris will be presenting his latest talk Technology Trends and Effects on Real Estate with WEREP on Friday, January 4.
Bruce Norris will be presenting his latest talk 10 Decisions To Make Before The Next Downturn with Robert Hall & Associates on Wednesday, January 9.
Economy Was Expected to End 2017 on a Cheerful Note. As builder confidence continued to increase, housing starts on single-family homes increased 3.3% in November. The National Association of Realtors said the drive to build more walkable communities was being pushed by both the millennials and silent generation.
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