Today’s News Synopsis:
What are real estate agents saying about Facebook’s rental listings? New home sales increased drastically and are at their highest in ten years according to the Commerce Department. Despite this, questions still remain about the health of the housing market. The value of the median U.S. home is $12,500 more than last year.
In The News:
CNBC – “US new home sales surge unexpectedly, hitting 10-year high in October” (11-27-2017)
“Sales of new U.S. single-family homes unexpectedly rose in October, hitting their highest level in 10 years amid robust demand across the country.”
Zillow – “Median U.S. Home is $12,500 More Valuable Today than a Year Ago” (11-27-2017)
“Home values are setting new records, and homes are gaining thousands of dollars in value every month. The national median home value is $12,500 more than it was just one year ago, according to the October Zillow® Real Estate Market Report.”
Black Knight Financial Services – “Black Knight Home Price Index Report: September 2017 Transactions” (11-27-2017)
“Today, the Data and Analytics division of Black Knight, Inc. (NYSE: BKI) released its latest Home Price Index (HPI) report, based on September 2017 residential real estate transactions.”
Inman – “What real estate agents are saying about Facebook’s rental listings” (11-27-2017)
“Facebook has gone full bore into creating a space for rental real estate inside of Marketplace. This endeavor was not just a simple marketplace listing but rather increasing the tools that would-be homesellers have to get their place rented.”
“Russ Chung once lived in a sizable Midwest home, but he recently downsized to a luxury one-bedroom rental in Midtown Manhattan just blocks from Central Park. Now, rather than mowing a lawn, the 60-year-old higher education administrator spends his free time visiting museums and taking in New York’s other cultural offerings.”
Inman – “Think tank says MLSs should be investigated for antitrust” (11-27-2017)
“A Washington, D.C.-based think tank is calling for federal regulators to investigate multiple listing services that restrict data from listing websites for possible antitrust violations.”
National Mortgage News – “Fannie, Freddie loan pilots empower lenders to reshape industry” (11-27-2017)
“Investors like Fannie Mae and Freddie Mac recognize that the people on the front lines can be their best resource. That’s why they’re staging several pilots with lenders that seek to solve conundrums that make it hard to reach borrowers.”
HousingWire – “New home sales rise again, but questions still remain about housing market’s health” (11-27-2017)
“In a sign that there’s still room to grow for the housing market, new home sales climbed significantly over last year’s totals for the second month in a row, a new report shows.”
Aaron Norris will be speaking at OCREIA’s Note Panel on Thursday, December 14.
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