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Newsletter Monday Morning Coffee: Your News and Story Source The Mortgage Bankers Association reports demand for purchase loans was up 6% compared to the week before in the Real Estate world. Requests to refinance rocketed up 53% for the week and are now 17% ahead of a year ago. Realtor.com revealed that active listings moved up in December by nearly 5% year-over-year. They said the pickup […]
Newsletter Monday Morning Coffee 1.15.24 Spending on residential construction in November grew a solid 1.1% above October, and 3.7% ahead of last year. Best of all, the emphasis was on single-family homes, where spending is up 5.5% the past year. 10,000 people a day are turning 65, fueling a “silver tsunami” in the housing market. The AARP estimates that among people […]
Newsletter Monday Morning Coffee 1.8.24 The National Association of Realtors (NAR) November index of signed contracts on existing homes was the same as October, but the NAR noted “a surge in interest, as evidenced by a higher number of lockbox openings.” Sellers are still getting good prices, as the October National Home Price Index posted its ninth straight monthly gain, and […]
Newsletter Monday Morning Coffee 01.01.24 After five months of declines, sales of existing homes reversed course in November. Prices rose only modestly, the median price now up just 4% versus a year ago. Builders saw a very active November, as housing starts surged nearly 15% for the month, with single-family starts up more than 42% from a year ago. Single-family Building Permits increased, as they’ve […]
Newsletter Winter Buying and Selling Guides 2024 Hello! As the holiday season approaches, I wanted to take a moment to express my heartfelt gratitude for your continued support and trust in my real estate services. It has been a pleasure working with you, and I look forward to continuing our partnership in the coming year. If you haven’t been a client of […]
Newsletter Monday Morning Coffee – 12.11.23 October sales of new homes were up 17.7% from a year ago. But they did take a breather from their September gain, off 5.6% for the month. Buyers should be happy to see the median price down 17.6% from a year ago. The Index of contract signings on existing homes slipped in October. But the National Association […]
Newsletter Monday Morning Coffee 12.4.23 According to the National Association of Realtors (NAR), multiple offers “are still occurring, especially on starter and mid-priced homes.” Yet sales of existing homes fell 4.1% in October due to “the persistent lack of housing inventory.” But inventory is rising, and sales should too. An online real estate database reports active listings rose last month, while signed contracts hit […]
Newsletter Monday Morning Coffee 11.27.23 October saw housing starts increase 1.9% over September, as builders answer growing demand. Looking to the future, they also took out 1.1% more Building Permits than the month before. Purchase mortgage applications rose for the second week in a row according to the Mortgage Bankers Association, which noted, “both purchase and refinance applications increased to the highest weekly pace in five weeks.” […]
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Newsletter Monday Morning Coffee 11.20.23 Inventory growth in November is rare, but Altos Research reports 62,000 new listings last week, up 0.7% from the prior week, with 9,000 under contract. Although 39.2% of listings have had a price cut, prices are still above last year. Data Provide CoreLogic found single-family home prices rose in September for the third month in a row […]
Newsletter Monday Morning Coffee 11.13.23 Home builders keep…well, building. In September, residential builders spent at a seasonally adjusted annual rate of 0.6% ahead of August. Home prices rose again in August, according to both the Case-Shiller home price index and the FHFA index of homes financed with conforming mortgages. The Case-Shiller National Composite stands at an all-time high. Demand for new homes […]
Newsletter Monday Morning Coffee 11.6.23 New Home Sales soared 12.3% in September, the biggest gain in more than a year, sending sales up 39.8% over the July 2022 low. Inventories were up, while the median selling price was down 12.3% from a year ago. The index of contracts signed on existing homes reversed its recent monthly slides, heading back up in […]
Newsletter Monday Morning Coffee 10.30.23 Builders increased activities in September, sending housing starts back up, by 7.0% over August. Starts for single-families are now up 8.6% the past year, as tight existing home inventories are driving buyers to new builds. Building permits slipped in September, but it was all due to multi-family permits. Single-family permits increased and have done so […]
Newsletter Monday Morning Coffee 10.23.23 Moody’s Investors Service reveals new home sales made up 14% to 15% of total transactions over the last three quarters, up from 10% in pre-pandemic years. They project new home prices will dip 10% this year and 4% more in 2024. Analysts at nSkope (a predictive real estate service) report: “Real estate has returned to […]
Newsletter Monday Morning Coffee 10.16.23 Spending on residential construction in August was up 0.6% over July. Best of all, spending on single-family home building was up 1.7% for the month. According to Core Logic’s index, U.S. home prices posted a 3.7% annual price increase in August, the biggest since February. They forecast the annual price gain will come in at 3.4% […]
Newsletter Monday Morning Coffee 10.9.23 Sales of new homes dipped 8.7% in August, yet they’re still 5.8% ahead of where they were a year ago. Good news for buyers, the median sales price of NEW homes is down 13.4% from its peak late last year. The August index of signed contracts on existing homes slipped 7.1% from July. The National Association of Realtors noted, “Some would-be home buyers […]
Newsletter Monday Morning Coffee 10.2.23 Sales of existing homes dipped a tiny 0.7% in August, the third straight month of declines. Tight inventory is the culprit, both hurting sales and nudging the median price up modestly, now 3.9% ahead of a year ago. New Housing starts sank 11.3% in August, mostly due to a 26.3% drop in multi-units. Single-family starts are actually up 2.4% […]
Newsletter Monday Morning Coffee 9.25.23 CoreLogic Home Price Insights showed home prices accelerated in July, up 2.5% annually, after 1.6% yearly growth the prior two months. Prices have now risen annually six straight months, and are 5% above their February low. According to the National Association of Home Builders, nearly a third of all listings in July were new construction. […]
Newsletter Monday Morning Coffee 9.18.23 More homebuyers are searching for homes in areas “outside where they live”. During Q2 this year, 60.3% of listing views in the top 100 metros went to homes in another metro, an increase over the prior quarter and prior year. Home flippers keep making money. Flippers who sold in June typically got 61%—or $188,448—more than their original purchase […]
Newsletter Monday Morning Coffee 9.11.23 Confounding all forecasts, Pending Home Sales rose in July at the fastest pace since January. The National Association of Realtors noted, “Jobs are being added and, thereby, enlarging the pool of prospective home buyers. The S&P CoreLogic index reported a 0.7% increase in home prices in June, bringing them back to where they were a year ago. […]
Newsletter Monday Morning Coffee 9.4.23 After slipping slightly in June, sales of new single family homes moved up 4.4% in July, and are now 31.5% higher than a year ago. Good news for buyers, the median sale price is down 12.1% from its peak last year. Also down were existing home sales, off 2.2% from June to July, thanks the […]
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