The area where residents have the most remaining income even after purchasing a home is Washington, D.C. Big week for homes. New homes sales increased in December by 3.7% to 621,000 according to the Commerce Department. Home prices increased 4.4% year-over-year in January according to CoreLogic.
Wall Street Journal – “U.S. New Home Sales Rose in December” (3-5-2019)
“Sales of new homes in the U.S. rose in December, closing a weak year for the housing market.”
HousingWire – “VA loans skyrocket in popularity for first-time homebuyers” (3-5-2019)
“Servicemembers are far more likely to opt for a Department of Veterans Affairs mortgage than any other type of loan when buying their first home, a new report from the Consumer Financial Protection Bureau shows.”
Forbes – “10 Cities Where You Can Own A Home For About $1,000 A Month” (3-5-2019)
“While housing affordability continues to be a concern across the country, there are some metropolitan areas where homes are a relative bargain.”
“Minneapolis has the nation’s highest homeownership rate for low-income families. In the Minneapolis area, 57.7 percent of households with incomes in the bottom 25th percentile for the metro area were homeowners in 2017, followed by Pittsburgh (55.8%) and St. Louis (55.5%), all inland areas where the typical home sells for the less than the national median of $285,000.”
MarketWatch – “As more millennials become homeowners, seniors are becoming renters” (3-5-2019)
“High home prices aren’t stopping more Americans from becoming homeowners. But seniors are bucking that trend.”
“Amid worsening affordability in the U.S., people in the Washington, D.C., metro area have the most money left over after they pay their mortgage, according to a new Zillow® analysis.”
CoreLogic – “CoreLogic Reports January Home Prices Increased by 4.4 Percent Year Over Year” (3-5-2019)
“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 January 2019, which shows home prices rose both year over year and month over month.”
Forbes – “How Modular Fits Into The Future Of Real Estate Construction” (3-5-2019)
“Real estate and construction are two industries that have intersected for generations. There has always been an inexorable link between the two, and there always will be.”
Bruce Norris will be presenting 10 Decisions to Make Before The Next Downturn with OC FIBI TONIGHT.
Bruce Norris will be giving his latest Real Estate Market Update with IVAR on Wednesday, March 6.
Bruce Norris will be speaking at the 2019 Real Estate Market Forecast with Coldwell Banker Town & Country on Wednesday, March 6.