Today’s News Synopsis:
Zillow is partnering with builders. The National Association of Realtors Reported existing-home sales increased by 1.3% in August. Mortgage rates increased greatly this week with 30-year rates now at 3.73% and 15-year rates at 3.21%.
In The News:
Freddie Mac – “Mortgage Rates Jump” (9-19-2019)
“Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing that the 30-year fixed-rate mortgage (FRM) rate averaged 3.73 percent.”
National Association of Realtors – “Existing-Home Sales Increase 1.3% in August” (9-19-2019)
“Existing-home sales inched up in August, marking two consecutive months of growth, according to the National Association of Realtors®.”
ATTOM Data Solutions – “U.S. Home Flipping Returns Drop to Nearly Eight-Year Low in Q2 2019” (9-19-2019)
“ATTOM Data Solutions, curator of the nation’s premier property database and first property data provider of Data-as-a-Service (DaaS), today released its Q2 2019 U.S. Home Flipping Report, which shows that 59,876 U.S. single-family homes and condos were flipped in the second quarter of 2019, up 12.4 percent from the previous quarter, but down 5.2 percent from a year ago.”
Curbed – “The 10 trends that will shape real estate in 2020” (9-19-2019)
“A market as large and dynamic as United States real estate rarely moves quickly. But the most striking narrative running throughout the annual Emerging Trends report from the Urban Land Institute is the sense of static and stasis.”
Redfin – “U.S. Home Sales Post Biggest Increase in More Than 2 Years in August” (9-19-2019)
“U.S. home-sale prices increased 2.7 percent year over year in August to a median of $312,200 across the 217 metros Redfin tracks. Home prices have been growing in a tight range between 1 and 3 percent year over year since September 2018.”
Zillow – “New Zillow Offers Partnership with Homebuilders Simplifies Buying a New Home” (9-19-2019)
“Zillow today announced partnerships with select homebuilders across the country to give home shoppers an easier and more convenient way to move into their dream home.”
Mansion Global – “‘Black Friday’ of U.S. Real Estate is Next Week” (9-19-2019)
“Data released by realtor.com shows that nationwide, competition decreases and inventory increases during the first week of fall, creating an opportunity for buyers.”
Mercury News – “Bay Area real estate still a good buy” (9-19-2019)
“Despite high prices and tight inventory, the Bay Area remains a strong market for real estate investors.”
The Norris Group will be presenting its 12th annual award-winning black-tie event I Survived Real Estate 2019 on Friday, September 27.
The Norris Group will be presenting its 9th annual Cutting-Edge Financial Tactics Brunch on Saturday, October 19.
Bruce Norris will be presenting 10 Decisions to Make Before The Next Downturn with the South OC REI Club on Wednesday, October 30.
People misusing HELOC’s. What was it about your house that could be giving you the hint to move? The Commerce Department reported a 9.2% increase in housing starts in August to 1.282 million
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