National News

Homeowners have gained the highest amount of equity in four years

The average American homeowner gained about $15,000 in home equity in 2017—the most since 2013, according to the latest CoreLogic Equity Report. Higher home-equity wealth typically promotes higher spending, and IHS Markit analysis predicts that a gain of $15,000

AgentEDU expands its training curriculum with new Assistants track

It can be difficult for many agents to take the leap from working alone to hiring an assistant to help. It is even more difficult to find someone who has previous experience in the real estate industry. Once an

How the tax reform impacts potential homeowners

The recently passed Tax Cuts and Jobs Act of 2017 makes significant changes to tax benefits for homeowners, including decreasing the limit on borrowing subject to the mortgage interest deduction from $1 million to $750,000, and capping deductions for both state

Almost 100,000 members of Generation Z own homes

More than 99,000 members of Generation Z — those born in 1995 or after — have mortgages, according to credit agency TransUnion. While this is less than than every other generation — compared to more than 12 million millennials, nearly 24

After two months of declines, US existing-home sales increase in February

After two consecutive months of decline, existing-home sales around the country rebounded by 3 percent from January, according to the National Association of Realtors. Existing-home sales grew from 5.38 million in January to 5.54 million in February and are currently up 1.1 percent

Many millennials rely on family support to buy first home

The real estate market has shown home price increases continue to outpace income growth, so it comes as no surprise that millennials are willing to accept financial assistance to achieve their American Dream. A new Apartment List report found that 17.1

Confidence down among homeowners, but rising among homebuyers

While confidence among current American homeowners has been in decline the past two quarters, confidence among new homebuyers is up, according to ValueInsured’s most recent Modern Homebuyer Survey. The nationally tracked housing confidence score for homeowners dropped 2.6 points from

Real Estate in Brief: Affordable 3-D printed home makes its debut at SXSW

Source: ICON A Texas-based startup is attempting to tackle the affordable housing issue with a 3-D printed house. ICON unveiled its 650-square-foot 3-D printed house at SXSW 2018. The house would be made of cement and take up to

Qualia’s home-closing platform expands industry reach

Closing is often one of the hardest parts of the home purchasing and selling process due to the difficult process of getting all involved parties on the same page at the same time. Qualia, a web-based software platform, aims

2017’s first-time homebuyer market was strongest since 2006

In 2017, more than 2 million new or existing homes were purchased by first-time homebuyers, according to the First-Time Homebuyer Market Report from Genworth Mortgage Insurance, an operating segment of Genworth Financial, Inc. The report, which measured data from the

Millennials remain the most active buying generation for fifth consecutive year

Despite low inventory and rising housing costs, home purchases by millennials grew last year, marking the fifth consecutive year they’ve been the most active generation of buyers, according to a recent study from the National Association of Realtors. The 2018

Illinois continues to have one of the highest property tax rates in the country

Illinois was recently ranked one of the worst states in the country for property taxes. The study was conducted by WalletHub and calculated each state’s effective real estate tax rate by dividing the annual taxes of a median priced

National mortgage rates on the rise, could impact housing prices

Years of historically affordable mortgage rates could come to an end as rates rise and are expected to escalate even further throughout 2018. So far, mortgage rates have increased nearly 50 basis points since the beginning of this year,

Midwest Real Estate Data announces hiring of new CTO

Midwest Real Estate Data has announced that industry veteran Chris Haran will be joining the organization as its Chief Technology Officer. Haran comes to MRED from Coldwell Banker Residential Brokerage, where he had served in a variety of roles since

Real Estate in Brief: NAR supports proposed association health plan rule

The National Association of Realtors has expressed support for a new regulation proposed by the U.S. Department of Labor that would expand the definition of “employer” to encompass “working owners” and could result in trade associations like NAR being able

Cohousing developments continue rise in popularity

Imagine a world in which your next-door neighbor not only is your best friend but your de facto babysitter, your source for sugar when you realize mid-baking session that you’re out, and your dinner companion when you’re home alone.

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