Today’s News Synopsis:
Marriage delays mean buying homes later in life. The National Association of Realtors reported existing home sales remined about the same after seeing a four-month decline. For the first time in six year, rents remained the same year-over-year.
In The News:
Redfin – “More than One in Four Home-Sellers Dropped their Price Last Month” (9-20-2018)
“Signs continue to point toward a changing market that’s letting homebuyers be more selective as supply constraints begin to ease in the hottest markets.”
ThinkRealty – “Bucking Concerns, Construction Expert Says Marriage Delays Will Help Housing Market” (9-20-2018)
“As more Americans delay marriage, housing analysts are concerned that delays in matrimony might postpone homeownership, thereby hurting the new-construction sector.”
Realtor.com – “It Pays to Be a Homeowner: Here’s How Much Home Equity Shot Up in Just One Year” (9-20-2018)
“It pays to be a homeowner—quite a bit, actually. In certain parts of the country, it’s even wildly profitable. Cha-ching!”
National Association of Realtors – “Existing-Home Sales Remain Flat Nationally, Mixed Results Regionally” (9-20-2018)
“Existing-home sales remained steady in August after four straight months of decline, according to the National Association of Realtors. Sales gains in the Northeast and Midwest canceled out downturns in the South and West.”
Zillow – “Rents Unchanged Year-Over-Year for First Time Since 2012” (9-20-2018)
“For the first time since 2012, rents nationwide remained at the same level as they were a year earlier, with a median rent of $1,440.”
Bloomberg – “U.S. Household Wealth Hit Record $106.9 Trillion Last Year” (9-20-2018)
“U.S. household wealth rose by $2.19 trillion to a fresh high in the second quarter, boosted by a stock-market rally and higher property values, figures from the Federal Reserve showed Thursday.”
The Washington Post – “Higher mortgage rates have repercussions beyond the home market” (9-20-2018)
“The ultra low mortgage interest rates that fueled a revival of the housing market after the Great Recession are moving higher, posing a potential threat to the economic boom.”
“When it comes to real estate investing in single-family residences (SFRs) versus commercial real estate (CRE), there is a common misperception of grouping the two into the single broader category of ‘real estate investing.'”
Bruce Norris will be giving a Market Update with the Chino Valley Real Estate Professionals on Friday, Septemeber 21.
The Norris Group will be presenting its 11th annual award-winning black-tie event I Survived Real Estate 2018 on Friday, September 28.
Bruce Norris will be speaking at the 2018 Cutting-Edge Financial Tactics Brunch on Saturday, October 27.
First home purchase entirely by Bitcoin occurred this week in Texas. The National Association of Realtors reported a 1.7% decrease in existing-home sales the previous month. Mortgage applications decreased 9.7% in the wake of the hurricanes and increased rates.
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