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Business Outlook Archive


NAR: Existing-Home Sales Fizzle in February

After increasing to the highest annual rate in six months, existing-home sales tumbled in February amidst unshakably low supply levels and steadfast price growth in several sections of the country, according to the National Association of REALTORS®. Led by the Northeast and Midwest, all four major regions experienced sales declines ...


Financial Market Conditions Move Forward

Financial market conditions appear to be improving as 2016 progresses, but economic growth is expected to remain flat at 2.0 percent this year. Weakness in net exports and oil-related nonresidential investment as well as the ongoing inventory correction process after unsustainable accumulations ...


Homeowners in Denial: Difference between Expectation and Appraisal Widens

Home appraisals were an average of 1.99 percent lower than what homeowners expected in February, according to Quicken Loans proprietary Home Price Perception Index (HPPI). The study compares actual appraised values to what refinancing homeowners estimated their home was worth at the beginning ...


Additional Areas to be Designated as ‘Rural’

The Consumer Financial Protection Bureau (CFPB) recently announced an application process for requests that areas not currently deemed “rural” receive that designation under federal consumer financial law. Under this process, those now outside rural counties or census blocks can apply to be designated as rural and may be eligible for ...


Update: Using Drones in Real Estate

Chances are good that in 2015 you read an article, heard a news story, or overheard a conversation about the use of unmanned aircraft systems (UAS), or drones, in real estate and other businesses. But it seems that there are still more questions ...


Survey: New Rule Reduces Mortgage Offerings, Causes Delays

Banks are still struggling to comply with the Consumer Financial Protection Bureau’s 2015 TILA-RESPA Integrated Disclosure rule, or TRID, according to an American Bankers Association survey results released this week. The survey, conducted in February of this year, found that 25 percent of ...


Luxury Real Estate Network Issues White Paper on the New Rules of Luxury Living

Luxury Portfolio International® recently released a white paper on “The New Rules of Luxury Living,” developed to give its member firms a deeper understanding of the journey of luxury and what it means to the affluent demographic today. ...


Millennials and Non-White Americans Show Strongest Association between Homeownership and the American Dream

Millennials and people of color are most likely to associate homeownership with the American Dream, according to the latest Zillow® Housing Confidence Index (ZHCI). ...


Fixed Mortgage Rates Resume Decline

Fixed mortgage rates resumed their decline, aiding homebuyer affordability amid a tight supply of for-sale homes in many markets, according to the recently released Freddie Mac Primary Mortgage Market Survey® (PMMS®). ...


The Comeback Continues: U.S Housing Market On the Rise

The U.S. housing market continues to improve as Florida and Arizona enter their outer range of stable housing activity, according to a recently released Freddie Mac Multi-Indicator Market Index® (MiMi®). The MiMi purchase applications indicator improved by nine percent in 2015, its best ...


January New Home Sales Fall 9.2 Percent

A recent U.S. Census Bureau report showed that new home sales in January fell 9.2 percent to a seasonally-adjusted annual rate of 494,000 units. This is 5.2 percent below the January 2015 estimate of 521,000. The median sales price of new houses sold in January 2016 was $278,800; the average ...


Residential Home Prices Continue to Gain Strength

Property values nationwide continued to strengthen going into 2016, according to the recently released FNC December home price report - the last report for 2015. ...


50 Days: Average Time to Close a Loan Increases

This year started off with the average time to close a loan increasing to 50 total days according to the latest Origination Insight Report released by Ellie Mae®. While the average time to close a refinance increased one day from 47 to 48 days, the average time to close a purchase ...


Immigration Slowdown Drives Up Housing Costs

More than half of the experts surveyed in the latest Zillow® Home Price Expectations (ZHPE) Survey say the continued decline of undocumented immigration in the U.S. will drive up construction labor costs. ...


Empty Markets: Top 5 Most Vacant U.S. Cities

Out of nearly 85 million residential properties nationwide, more than 1.3 million (1.6 percent) were vacant in February 2016, down from 1.5 million vacant (1.8 percent) in September 2015, according to a recently released report from RealtyTrac. The report,  Q1 2016 U.S. Residential Property Vacancy Analysis,  shows that investment properties are ...


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