Weekly Update November 15, 2019
My biggest surprises were Octobers Hottest Housing Market changes:
Fort Wayne, IN went from #3 October 2018 to #1 October 2019 where’s that?
Boston, MA went from #7 October 2018 to #19 October 2019 cooling?
Manchester-Nashua, NH #26 October 2018 to #12 October 2019 Wow!
Realtors Ban Pocket Listings
At their recent national meeting in San Francisco, the National Board of Realtors passed a resolution that bans “pocket listings” for realtors participating in its Multiple Listing Service (MLS). Click here to read more.
Housing’s Share of GDP Rises in Q3 2019
The NAHB’s Eye on Housing is reporting that after declining for six consecutive quarters, the home building component of America’s gross domestic product (GDP) increased during Q3 of 2019. Click here to read more.
Forecasted Changes in Population
Using data from the U.S. Census Bureau, a recent “chart of the week” from the Mortgage Bankers Association highlights the estimated and forecasted average annual change in U.S. population, by age group. Click here to read more.
2019 Profile of Home Buyers & Sellers
According to the NAR’s 2018 Profile of Home Buyers & Sellers, the share of first-time buyers remained at 33% for 2019, which they say is a historic low. In addition, they report that a third of first-time home buyers used down payment help from family and friends. Click here to read more.
Housing Cost Burdens by Household
According to data from the most recent American Community Survey (ACS), since the peak of the recession in 2008, the housing cost burden for U.S. homeowners has eased while it has remained stagnant for renters. Click here to read more.
October’s Hottest Housing Markets
Preparing for 2020’s Slowing but Growing Economy
Kathy Fettke points out that we’ve seen a lot of volatility in the global economy these past few months with headlines are warning us about all sorts of economic uncertainties. While it might be enough to upset the stock market, should real estate investors be concerned? Click here to read more.
Groovy House Designs from the 60s
A Snapshot of Today’s Home Buyers
Infographic: With rising housing costs showing no signs of a deceleration the percentage of first-time buyers remain at historic lows. Today’s infographic takes a snapshot of today’s homebuyers using data from the NAR’s recently released 2019 Profile of Home Buyers & Sellers. Click here to read more.