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Talk all you want about deflated footballs and inflated ticket prices, the real competition worth watching is in housing. Seattle and Boston are two of the nation’s hottest housing markets, and while many of their stats are similar, some aspects are winners, some losers. Running the basics, per the U.S. Census, RealtyTrac and Redfin: The …
Denver is suffering from the same housing malady as much of the nation: Too few listings. Sales of both single-family homes and condominiums in the city improved last year, but just barely—up 1 percent from 2013. The market did see an unexpected sales ramp-up toward the end of the year, but that could translate to …
Home buying cooled in December, but is still stronger than it was a year ago. A monthly index from the National Association of Realtors measuring signed contracts to buy existing homes fell 3.7 percent from a downwardly revised November reading, but it is 6.1 percent above December of 2013. This, after closed sales in December …
The record sale price of a 60-story luxury apartment tower in downtown Chicago is turning the heat up on Windy City real estate. After a rough ride through the recession, with both job and population losses, several of the city’s residential projects stalled, but now they are rising again—and selling. “It talks most to how …
Building on the huge momentum two weeks ago, mortgage application volume jumped further last week, up 14.2 percent on a seasonally adjusted basis, according to the Mortgage Bankers Association (MBA). Total volume is now 41 percent higher than it was one year ago, though still low by historical comparisons. Unlike the previous week, however, this …
In the heart of Silicon Valley, there’s been a big jump in the price of small houses. Palo Alto, California, is one of the most sought-after communities in the Bay Area, with its elegant downtown, respected schools, and proximity to the headquarters of technology giants such as Facebook and Google. In fact, demand is so strong …
After a scorching four years, the luxury real-estate market may be cooling off. Sales of homes for $1 million or more fell 20 percent in the fourth quarter compared with those in the third quarter and posted their worst year-on-year growth since 2011, according to the CNBC Luxury Real-Estate Report, conducted by Redfin, a real-estate …
The U.S. housing market continues to improve, but it’s not quite there yet. In fact, it’s about three-quarters of the way back to, “normal.” That is the conclusion of a new report from Trulia, a real estate sales and analytics company. The dispatch weighs existing home sales and prices, new construction, mortgage delinquencies and the …
Mortgage applications surged 50 percent last week. Diana Olick explains what caused the jump.
A sharp drop in interest rates, combined with new reduced costs for the market’s most popular mortgage products, sent mortgage applications soaring last week. Total volume increased 49.1 percent from the previous week on a seasonally adjusted basis, according to a weekly survey by the Mortgage Bankers Association (MBA) for the week ending January 9, …
The number of completed foreclosures continued to fall in November, with 41,000 borrowers losing their homes, down from 46,000 in November 2013, according to CoreLogic, a real estate analytics firm. That’s a 64 percent drop from the peak in September 2010. “It will be about two more years until we are back to historical norms,” …
Americans may be spending more time shopping for shoes than for a mortgage, a report from the Consumer Financial Protection Bureau suggests. Almost half of consumers seeking a loan to purchase a home do not shop lenders, the agency said Tuesday. A consumer taking out a 30-year mortgage for $200,000 and paying an interest rate …
Falling bond yields offer a bright spot for homeowners: extended opportunities to refinance. Mortgage rates have been on the decline. For the week ending Tuesday, the average rate for a conforming 30-year, fixed-rate mortgage was 3.83 percent, down from 3.96 percent a week earlier, according to mortgage data site HSH.com. Rates for a conforming 5/1 …
Much like Phoenix and Las Vegas, Atlanta‘s housing market crashed hard. The downturn came later than other markets, and so too did the influx of investors, buying up the city’s multitude of foreclosed properties. While Atlanta is still seeing some investor activity, the market appears to be tipping back toward more historical norms. “I think …
Diana Olick gives us details on President Obama’s plan to bring more first-time home buyers into the housing market.
