National News

National home values surpass pre-recession peak, study says

It took a decade to get there, but the average United States house is now worth more than it was when the median home value hit its peak right before the recession.  According to Zillow’s April market report, April

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Existing home sales fall in April due to low supply

Low inventory led to decreasing existing home sales and days on market in April, according to the National Association of Realtors. The median days on market also declined, reaching a new low of 29 days. Total existing home sales,

New home sizes shrink as demand for entry-level homes increases

After the 2009 recession, single-family home sizes have been increasing. But lately, that trend has been changing as builders are capitalizing on the demand for starter homes, according to the National Association of Home Builders. The median single-family square

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Trump’s tax plan a ‘non-starter’ for homeowners, NAR says

Though it would keep in place mortgage interest deductions, changes to the federal tax code proposed by President Donald Trump would hurt homeowners and the real estate industry, according to the National Association of Realtors. NAR commissioned PricewaterhouseCoopers to

Homes are selling faster than ever as inventory tightens

Demand for homes continues to grow as houses are selling faster than every before, according to Redfin. Typical homes went under contract in 40 days in April, 10 days faster than the previous year, making April Redfin’s fastest month on

Townhouse construction grows to help meet starter home demand

Despite a recent lull in growth, townhouse construction proves to be a crucial part of the entry-level housing market. In fact, a recent report by the National Association of Homebuyers predicts construction of this type of home will increase

The Realtor of today: breaking down NAR’s 2017 member profile

What does the typical Realtor look like, and how was business for them in 2016? The answer obviously varies from market to market and from age group to age group. But the survey results in the National Association of

Most homebuyers don’t believe in a “forever home”

The concept of a forever home – a single place that will last throughout a person’s life – is a dying idea to most people, according to Taylor Morrison’s 2017 Consumer Survey. The survey looked at 1,000 adults who

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Total household debt in first quarter passes pre-recession peak

Total household debt reached $12.73 trillion in the first quarter of 2017, which is above the 2008 peak before the housing market crash and economic downturn, according to new data from the Federal Reserve Bank of New York. However,

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Three masterplan community trends that are attracting new residents

Masterplan community developers are looking to expand the amenities and conveniences offered to residents in order to bring in new buyers. According to John Burns Real Estate Consulting, there are three major features that developers are offering in their

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Metro home prices accelerated for third consecutive quarter

Metro homes saw the strongest quarterly sales pace in a decade, which put pressure on existing inventory levels and led to the third consecutive quarter of accelerated home prices, according to the latest quarterly report by the National Association

Housing affordability rises nationwide in Q1 2017

U.S. housing affordability increased slightly in the first quarter of 2017 due to rising wages and moderating home prices despite increasing mortgage rates, according to National Association of Home Builders (NAHB)/Wells Fargo Housing Opportunity Index (HOI). Between January and

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Housing sentiment rebounds in April, survey says

The Home Purchase Sentiment Index (HPSI) rose by 2.2 percentage points in April to 86.7 percent and three percentage points compared to last year, according to April 2017’s National Housing Survey. Out of six total components, four saw positive gains when

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Fed could hike interest rates 9 times by 2020, report says

After remaining flat for years, federal interest rates could be increased nine times by 2020, according to the Congressional Budget Office’s 2017 Budget and Economic Outlook. The Federal Reserve’s policy committee met last week and determined that no federal

Markets nationwide return to normal economic and housing activity

In the first quarter of 2017, markets nationwide have shown, on average, 100 percent normal economic and housing activity, according to the National Association of Home Builders‘ (NAHB) First American Leading Markets Index (LMI), which is based on current price,

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Home values in these Chicago neighborhoods are skyrocketing

Much of Chicago’s housing stock is still recovering from the market collapse, but not every area in the city is suffering from anemic housing value growth. In fact, five neighborhoods in the city have seen home prices reach their highest levels

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