Today’s News Synopsis:
Want to throw a rockin holiday-themed open house? Existing-home sales decreased 1.7% in November according to the National Association of Realtors. Mortgage rates remained flat with 30-year rates at 3.73% and 15-year rates at 3.19%.
In The News:
Freddie Mac – “Mortgage Rates Remain Flat” (12-19-2019)
“Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey (PMMS®), showing that the 30-year fixed-rate mortgage (FRM) averaged 3.73 percent, unchanged from a week ago.”
“Annual home value growth has reached its lowest point since January 2013 as the housing market continues its return to historic norms after a red-hot 2017 and 2018. The typical U.S. home value grew 3.8% to $243,225[i], according to the November Zillow® Real Estate Market Report.”
Mortgage Bankers Association – “Commercial/Multifamily Mortgage Debt Increased $75.7 Billion in the Third Quarter of 2019” (12-19-2019)
“The level of commercial/multifamily mortgage debt outstanding rose by $75.7 billion (2.2 percent) in the third quarter of 2019, according to the Mortgage Bankers Association’s (MBA) latest Commercial/Multifamily Mortgage Debt Outstanding quarterly report.”
National Association of Realtors – “Existing-Home Sales Descend 1.7% in November” (12-19-2019)
“Existing-home sales fell in November, taking a small step back after October’s gains, according to the National Association of Realtors.”
Yahoo Finance – “‘Land scarcity has really made it difficult for builders’ to construct affordable homes” (12-19-2019)
“Construction companies want to build affordable housing — but they need help from politicians, they say. Current land use and zoning policies are preventing developers from building enough affordable housing in high-demand areas, said Robert Dietz, chief economist at the National Association of Home Builders, a Washington, D.C.-based trade association.”
Realtor.com – “Need $15K? Here’s the Latest City That’ll Pay You to Move There” (12-19-2019)
“Want to settle in a new city? Then consider Topeka, KS. Although it might not be the top dream destination on your list, a new program will pay you up to $15,000 to move there.”
Redfin – “Home Prices Increased 5% in November Amid Rapid Decline in Number of Homes For Sale” (12-19-2019)
“U.S. home-sale prices increased 5.2% year over year in November to a median of $311,600 across the 217 metros Redfin tracks.”
The Balance – “Buying Post Foreclosures-REOs” (12-19-2019)
“When shopping for a new home, some people want to squeeze extra value out of their dollars by attempting to buy a distressed property at a discount.”
Realtor.com – “Hark, the Buyers Sing! 4 Tips to Throw a Rockin’ Holiday – Themed Open House” (12-19-2019)
“If you’ve decided to keep your home on the market this holiday season (and you totally should), you probably have a few questions. Like, how much should you decorate the house? Or, is it OK to leave presents under the tree?”
Bruce Norris will be presenting his newest talk 6 Things To Succeed In 2020 with Prosperity Through Real Estate on Tuesday, January 7.
Bruce Norris will be presenting his newest talk 6 Things To Succeed In 2020 with Robert Hall & Associates on Wednesday, January 8.
Bruce Norris will be presenting his newest talk 6 Things To Succeed In 2020 with OCREIA on Thursday, January 9.
Bruce Norris will be presenting his newest talk 6 Things To Succeed In 2020 with CVREIA on Thursday, January 14.
Bruce Norris will be presenting Turmoil: The Coming Storm of Negative Interest Rates on Saturday, February 1.
2019 Winter home maintenance To-Do list. Existing-home sales increased for the second month in a row by 1.9% to 5.32 million. However, they were lower year-over-year as a result of what was believed to be affordability still being an issue.
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