Today’s News Synopsis:
LA considering pet-friendly requirement for affordable housing. New home sales in the U.S. decreased 1.7% last month according to the Commerce Department. Mortgage rates continue to show signs of decrease with 30-year rates now at 4.51% and 15-year rates at 3.98%.
In The News:
ATTOM Data Solutions – “ATTOM Data Solutions Launches Consolidated API Platform with Premium Property, Neighborhood and Boundary Data” (8-23-2018)
“ATTOM Data Solutions, curator of the nation’s premier property database, today announced the launch of a streamlined real estate API (application program interface) platform that consolidates its property-centric tax, deed, mortgage and foreclosure data with enhanced neighborhood-centric schools, crime, and other community data along with neighborhood and school attendance zone boundaries — all available nationwide.”
Zillow – “Home-Value Growth Slowing in Nation’s Hottest Housing Markets” (8-23-2018)
“Home-value growth is slowing in almost two-thirds of the nation’s largest housing markets, according to the July Zillow Real Estate Market Report. Seattle, Tampa, Sacramento, Calif., and Portland reported the greatest slowdown in home value appreciation over the past year.”
“Confidence in the multifamily housing market edged down in the second quarter of 2018, according to the Multifamily Production Index (MPI) released today by the National Association of Home Builders (NAHB).”
Freddie Mac – “Mortgage Rates Maintain Downward Trend” (8-23-2018)
“Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey (PMMS®), showing that mortgage rates decreased for the third straight week.”
Bloomberg – “U.S. Home Price Gains Slow in Second Quarter, With 6.5% Increase” (8-23-2018)
“U.S. home prices climbed 6.5 percent in the second quarter from a year earlier, a slower pace that adds to signs of a cooldown in the market. Prices rose 1.1 percent on a seasonally adjusted basis from the previous three months, the smallest quarterly gain in four years, the Federal Housing Finance Agency said in a report Thursday.”
National Association of Realtors – “Don’t Let Mortgage Rates Throw You Off Course” (8-23-2018)
“For three months, Koki Adasi worked hard to help his buyer find the perfect one-bedroom condo on Capitol Hill in Washington, D.C. Finally, in the spring, the right listing emerged for $450,000, slightly above the buyer’s budget.”
Curbed – “LA considering pet-friendly requirements for affordable housing” (8-23-2018)
“Los Angeles pet owners could have an easier time finding affordable housing if a proposal moving through the city council becomes law.”
AP News – “US new-home sales fell 1.7 percent in July” (8-23-2018)
“Sales of new U.S. homes slumped 1.7 percent in July, the second straight monthly decline as the broader housing market appears to have lost some of its momentum despite an otherwise solid economy.”
Bruce Norris will be presenting Cashing In On A Boom on Saturday, Septemeber 8.
Bruce Norris will be speaking at the Stay Put or Cash Out with SJREI on Thursday, Septemeber 13.
Bruce Norris will be giving a Market Update with the Chino Valley Real Estate Professionals on Friday, Septemeber 21.
They won’t really touch the mortgage interest tax deduction….right? 3D photography was allowing customers to see even more detailed pictures of a home as if they were on location. The Commerce Department reported new home sales decreased the previous month to their lowest in 7 months, down 9.4% month-over-month and 8.9% year-over-year to 571,000.
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