Today’s News Synopsis:
Realtor.com’s 4 key trends to watch in 2019. The Commerce Department reported new home sales decreased to their lowest in three years, now standing at 544,000. Foreclosure activity as a whole was down 4% year-over-year, although it was up in 38% of the local markets.
In The News:
MarketWatch – “New-home sales fall to a nearly 3-year low; inventory surges as housing-market outlook darkens” (11-28-2018)
“New-home sales ran at a seasonally adjusted annual 544,000 rate in October, the Commerce Department said Wednesday.”
Realtor.com – “The 4 Key Trends Home Buyers and Sellers Should Watch in 2019” (11-28-2018)
“We’re entering the home stretch of 2018, when you can actually say, “See you next year!” to someone you’ll see in just a few weeks. It’s a time to look ahead, to make new plans,
to achieve new dreams.”
ATTOM Data Solutions – “U.S. Foreclosure Activity Down From Year Ago in October But Up in 38 Percent of Local Markets” (11-28-2018)
“There were a total of 66,401 U.S. properties with foreclosure filings in October 2018, up 21 percent from an all-time low in the previous month, but still down 4 percent from a year ago, according to ATTOM Data Solutions.”
“The housing market is slowing as 2018 comes to an end, but home shoppers looking for a more affordable buying environment in 2019 might be disappointed.”
ThinkRealty – “The True Cost of Homeownership in 2018” (11-28-2018)
“2018 has been a banner year for homeowners in many regards. For example, cumulatively homeowners gained nearly $1 trillion in home equity in the first half of the year alone.”
Mortgage Bankers Association – “Mortgage Applications Rise in Latest MBA Weekly Survey” (11-28-2018)
“Mortgage applications increased 5.5 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending November 23, 2018.”
San Diego Union-Tribune – “San Diego housing crisis: Is building more homes the answer?” (11-28-2018)
“Project can’t qualify as affordable housing. Re ‘Development will add workforce housing that region badly needs” (Nov. 9): What exactly is “workforce housing?'”
Forbes – “Set Up For Success In 2019: 14 Real Estate Investment Moves To Make Before 2018 Ends” (11-28-2018)
“The real estate market is constantly shifting, with investmentapproaches evolving as new market trends and area-specific information drive change.”
Hard Money Loan Closed
Cathedral City, California hard money loan closed. Real estate investor received loan for $190,000 on this single family property.
Bruce Norris will be presenting his latest market timing report California Real Estate: On Borrowed Time on Saturday, January 26.
Lower priced homes were increasing in value twice as fast as expensive ones. Conforming loan limits were raised again by the FHFA for the second year in a row. The New York-based Conference Board reported consumer confidence increased to its highest in 17 years.
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