REI2DAY: Housing Expectations for 2017 & More

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Housing Expectations for 2017

NAR’s Housing Expectations for 2017

The National Association predicts that existing home sales will reach 5.52 million, the average price of a home will be $243k and 2017 will end with mortgage rates hovering around 4.6%.  Click here to read more.

 

US Home Prices Up 5.6% Year over Year

Black Knight Financial Services released their Home Price Index (HPI) report for October showing that home prices were up just 0.2% from September and up 5.6% from one year ago.  This number also marks 54 consecutive months of sustained year-over-year growth.  Currently at $266K, the U.S. HPI has risen over 33.5% from the market’s bottom and is now within just 0.4% of a new national peak. The report also shows that home prices in 6 of the nation’s 20 largest states and 7 of the 40 largest metros hit new peaks in October.  Click here to read more.

 

Big Comeback for Flipping?

CNBC recently interviewed RealtyTrac’s Vice President, Daren Blomquist about the return of house flipping.  He doesn’t think we’re seeing the “crazy levels” of 10 years ago, however he says the high number of recent flippers are an indication of “bandwagon flippers” taking advantage of certain markets with homes that need a lot of work.  Click here to read more.

 

 

How Americans Spent Their Money Over the Last 75 Years

As readers know, we’re always on the lookout for interesting data.  The folks over at howmuch.net used data from the Bureau of Labor Statistics to compile exactly how Americans have spent their hard-earned money over the last 75 years.  After adjusting for inflation, they broke it down into 12 categories; Reading, alcohol, tobacco, education, personal care, miscellaneous, recreation & entertainment, healthcare, clothing, food, transportation and housing.  Click here to read more.

 

13 Things Baby Boomer Renters Want and Landlords Need to Know

As a real estate investor and landlord myself I understand that tenants are the pillars of our business.  Working with hundreds of investors, I carry a high level of interest in these tenants who represent our customer base. I trust that you, as a diligent investor and landlord, do as well.  With the importance of knowing exactly who your customers are, I have done research like the post, Why Millennials are important to landlords and the five things you need to know. There is another group important to landlords and investors — the aging parents of the Millennials, the Baby Boomers.  Click here to read more.

 

Indices Show US Home Prices Continue to Climb

At the end of December S&P CoreLogic Case-Shiller released their National Home Price Index showing that home prices rose 5.6% in October (year over year).  Their 10-City Composite remained unchanged and the 20-City Composite posted a 0.1% increase in October.  After seasonal adjustment, the National Index recorded a 0.9% month-over-month increase, while both the 10-City and 20-City Composites each reported a 0.6% month-over-month increase.  Click here to read more.

 

Are PCBs the New Asbestos?

Podcast:  Are PCBs the New “Asbestos?”  In a recent podcast, Kathy Fettke says that if you own a building that was constructed in the 1950s, 60s, or 70s, you need to be aware of potential PCB contamination because it’s becoming headline news.  Click here to read more.

 

New Home Sales up 16.5% from 2015

According to new data from the U.S. Census Bureau and the Department of Housing and Urban Development, sales of new single-family homes rose in November signaling that the housing market is rebounding strongly.  November sales of new single-family houses were at a seasonally adjusted annual rate of 592k – which is is 5.2% above October’s rate and is 16.5% than one year ago.  Click here to read more.

 

Most Children Live With Two Parents

Infographic:  This might not come as a shock, but more children live in homes with two parents.  Indeed, the majority of America’s 73.7 million children under age 18 live in families with two parents (69%), according to recent statistics from the U.S. Census Bureau.  The second most common family arrangement is children living with a single mother, at 23%.  Interestingly, between 1960-2016, children living in families with two parents decreased from 88% to 69%.  Click here to read more.

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