Today’s News Synopsis:
Fannie and Freddie changes coming. CoreLogic reported home prices increased 3.6% year-over-year in April. Meanwhile, home prices for newly constructed homes decreased by 1% in the first quarter.
In The News:
Forbes – “Expecting? These Cities Are The Most Affordable Places To Raise A Child” (6-4-2019)
“It’s tough to put a price tag on having a little bundle of joy, but a new analysis from Redfin puts it in perspective.”
“Sale prices for newly built homes fell 1 percent year over year to a median of $363,900 in the first quarter, the first such drop in seven years.”
Wall Street Journal – “Source of Cheap Real-Estate Financing Is Getting More Expensive” (6-4-2019)
“A retreat by Chinese investors is raising the cost of a once reliably cheap source of financing for big U.S. real-estate projects.”
CoreLogic – “CoreLogic Reports April Home Prices Increased by 3.6% Year Over Year” (6-4-2019)
“CoreLogic (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, today released the CoreLogic Home Price Index (HPI) and HPI Forecast for April 2019, which shows home prices rose both year over year and month over month.”
CNBC – “New tariffs on Mexican imports would hurt homebuyers” (6-4-2019)
“CNBC’s Diana Olick breaks down how President Trump’s threatened 5 percent tariffs on Mexican imports would impact the housing market.”
Wtop – “How realtors are using augmented reality to tempt you” (6-4-2019)
“Do you ever look at house or condo listings online and think it seems a lot of homeowners have nicer furniture and better taste than you do? They may not actually have any furniture at all. Virtual staging has taken off.”
Apartment Therapy – “Here’s Your A-to-Z Guide to Common Houseplants” (6-4-2019)
“Fiddle-leaf figs. Monstera deliciosa. Prayer plants and umbrella plants… or is it nerve plants and elephant ears?”
Bloomberg – “Fannie and Freddie Changes Could Lower Housing Costs for Millions of Americans” (6-4-2019)
“Starting Monday, the U.S. government is making what’s widely described as the biggest change in a generation to the inner workings of the roughly $4.4 trillion market in mortgage-backed securities issued by the country’s two housing market giants, Fannie Mae and Freddie Mac.”
Aaron Norris will be moderating the ADU Panel for SDCIA on Tuesday, June 11.
Bruce Norris will be speaking at the Southern California Appraisal Institute’s 22nd Annual Inland Empire Market Trends on Thursday, June 13.
Bruce and Aaron Norris will be speaking at the NSDREI 15th Anniversary Dinner Party on Tuesday, June 18.
Millennials to be the next wave of SFR investors??? Home values were continuing to increase and doing so at their fastest pace in twelve years. Meanwhile, housing affordability was showing signs of decrease as both prices and rates continued to increase.
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