After a strong start to summer, New Home Sales took a dive in July. The Commerce Department reported July New Home Sales fell by 9.4 percent from June to an annualized rate of 571,000 units, below the 615,000 expected and a seven-month low. On a positive note, June was revised higher to 630,000 units from 610,000. Sales inventory for new homes rose to 5.8 months in July, up from 5.2 months in June; this is near the healthy rate of six months. Year over year, sales were down nearly
Tensions between the United States and North Korea heightened this week, causing investors to react and move dollars into the less-risky Bond markets. Stock markets plunged as a result. Meanwhile, inflationary pressures here at home were anything but tense. Wholesale inflation in July was tame. The Producer Price Index (PPI) and Core PPI, which excludes volatile food and energy, both were -0.1 percent in July versus the 0.2 percent expected. Year over year, PPI was 1.9 percent and Core PPI
Marriage and having children may be the life events that traditionally have prompted people to transition into homeownership. But for some millennials, the need for more space is particularly tied to their furry friends. Read more: Use Pets to Sell More A third of recent home buyers ages 18 to 36 say their decision to purchase was based on the desire for a larger property with a yard for their dog, according to a survey conducted by Harris Poll on behalf of SunTrust Mortgage. While
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In the first quarter of 2017, nearly one in five home buyers focused their online searches on properties outside of their current metro area, according to an analysis by Redfin of nearly 1 million users searching for homes across 75 metro areas. Read more: Expert Tips for Upping Your Relocation Game There are not enough “budget-friendly housing” options to make consumers want to stay loyal to their current cities, says Nela Richardson, Redfin’s chief economist. “For many, the only path to
House Bill 17-1220, places limits on the number of marijuana plants that can be possessed or grown on a residential property. Large residential marijuana grows and the manufacturing operations they often bring with them have many consequences, including obvious health and safety concerns, an increase of both human and automobile activity, extensive odors, and potential stigmatization of adjacent properties. All of which are inconsistent with residential neighborhoods. CAR worked with the
Highlights for March 2017 SFD sales: up 12.1% from LY (3,187 units) Average Sold price for SFD: up 8.2% from LY ($467,730) Days on market for SFD: 29.6 for March Active Listings for SFD: up 1.4% from LY (3,760 units) Highlights for 1st Quarter 2017 SFD sales: up 7.8% from 1st Quarter 2016 (7,403 units) Average Sold price for SFD: up 7.7% from 1st Quarter 2016 ($455,052) Days on market for SFD: 33.3 for 1st Quarter 2016 Active Listings for SFD: down 7.2%
Existing home sales surged to a 10-year high in January. Demand remains strong as buyers shrug off increasing prices and higher mortgage rates. A survey of 30 analysts by Reuters predicts home prices will rise at almost double the current rate of underlying inflation and wages over the next few years. Small investors buying homes to flip or rent remain a strong part of the market. Last year, 37% of homes sold were acquired by buyers who didn't live in them.
The week is loaded with headline reports. Which ones will land above the fold and move markets? Pending Home Sales will be delivered Monday. Manufacturing data releases start on Monday with Durable Goods Orders. The Chicago PMI will be released Tuesday, followed by the ISM Index Wednesday. The second estimate for first quarter Gross Domestic Product will be watched by investors as well as the Fed when it is announced on Tuesday. Consumer data is plentiful with the release
According to the latest data from REcolorado, the provider of REcolorado.com, the most popular, locally run home search site for Colorado home buyers, sellers and renters, the Denver Metro Area housing market carried its positive momentum into 2017 with single family home sales and prices both rising in January. According to REcolorado market statistics for the 11-county metro area demand for homes remained strong during the month with 3,179 homes sold, up six percent as compared to this time