What home-design trends will likely catch on in new construction? Builder Online recently spoke to Mollie Carmichael, principal at John Burns Real Estate Consulting, and Nick Lehnert, executive director at architecture firm KTGY, about the design trends that are gaining popularity in the new-home market this year: Private space Baby boomers, empty nesters, and Gen Yers are showing a preference for homes that have more private outdoor spaces, straying from the traditional "public" backyard, according to … [Read more...]
Wall Street: Home price appreciation still expected to hit 7%
April 29, 2014 by Leave a Comment
Despite a weak first quarter, home prices are still expected to rise by 7% in 2014, according to Wall Street analysts. “We continue to expect home price appreciation to moderate from the torrid pace of mid-2012-13, supported by improving employment and growth prospects,” said analysts from Morgan Stanley (MS). “We leave our 2014 projections for new home sales (450-500 thousand units) and home prices (up 5-7% for the year) unchanged.” Analysts from Barclays (BCS) agree. “Our base case projection for 2014 US … [Read more...]
Pending Home Sales Gain for First Time in 9 Months
April 29, 2014 by Leave a Comment
The housing market is showing signs of picking up again after a sluggish few months. Pending home sales rose 3.4 percent in March over February, according to the National Association of REALTORS®’Pending Home Sales Index, a forward-looking indicator based on contract signings. Contracts were most on the rise in the West and South, increasing 5.7 percent and 5.6 percent in March, respectively. The Northeast saw an uptick of 1.4 percent in contracts month-over-month, while contracts in the Midwest fell by 0.8 … [Read more...]
Study: Buyers, Sellers Will Jump Off the Fence This Year
February 13, 2014 by Leave a Comment
Consumers are more committed to buying or selling this year, according to Prudential Real Estate's fourth quarter Consumer Outlook Survey. Of the 2,500 consumers surveyed, 78 percent held a favorable view of real estate, a five-point jump from the previous quarter and 15 points higher than at the end of 2012. Sixty-three percent said they were more committed to buying and selling in 2014. One generation in particular has a favorable perception of real estate right now: Millennials. The generation peaked at 87 … [Read more...]
This is the year to sell your home
January 16, 2014 by Leave a Comment
The prospect of higher rates is fueling a seller’s market Prices surged more than 10% in many markets last year, bidding wars are once again common, and homes are routinely going for well over the asking price in some cities. These trends make it seem like a return to the go-go days of the housing boom. Single-family homes were selling at an average price of $244,300 in November, up 7.2% from a year prior and the highest price since August 2008, according to the latest data from the National Association of … [Read more...]
Home Prices Back at Peaks in Some Areas
December 30, 2013 by Leave a Comment
Recovery Remains Uneven as Cities Spared in Bust Soar, but Many Others Struggle Home prices have zipped back into record territory in a handful of American cities, a milestone that comes seven years after the housing bust ravaged the market and the broader economy. Values are up more than 13% from their 2007 high in Oklahoma City and by more than 6% in the Denver metro area. Prices are back to all-time highs in 10 of the nation's 50 largest metropolitan areas, according to a Wall Street Journal analysis of … [Read more...]
Home Prices Edge Closer To Pre-Crash Levels
August 27, 2013 by Leave a Comment
-In Arizona, we are still about 30% off pre-crash levels but those numbers are moving fast back in the right direction. Read below for further info on this trend. Home prices keep edging closer to pre-crash price levels and today's Home Price Index report from Lender Processing Services (LPS) indicates that national prices are now backwithin 15.2 percent of that peak. The index for June rose to $229,000 from 226,000 in May, an increase of 1.2 percent and is up 6.9 percent from the end of last year. The … [Read more...]
The kids aren’t buying homes: Generation Y may be holding back the housing recovery
July 25, 2013 by Leave a Comment
The number of “missing households” — that is, Americans who would be owning or renting a home now if prerecession economic trends had continued — hit 2.4 million as of March, according to an analysis of raw monthly government data by real-estate marketplace Trulia. That is down slightly from its peak of 2.6 million in 2011, but up 100,000 from the year prior. And 18- to 34-year-olds account for more than half of the missing households, according to the data. “Household formation is the most important indicator of … [Read more...]
Pending Sales at Strongest Pace Since 2006
June 28, 2013 by Leave a Comment
Pending home sales rose in May to the highest level since late 2006, implying a possible spark as mortgage interest rates began to rise, according to the National Association of REALTORS®. The Pending Home Sales Index, a forward-looking indicator based on contract signings, increased 6.7 percent to 112.3 in May from a downwardly revised 105.2 in April, and is 12.1 percent above May 2012 when it was 100.2. Contract activity is at its strongest pace since December 2006, when it reached 112.8. Also, pending sales … [Read more...]
Arizona home prices rise 17.3% over last year
June 5, 2013 by Leave a Comment
WASHINGTON - U.S. home prices soared 12.1 percent in April from a year earlier, the biggest gain since February 2006, as more buyers competed for fewer homes. Real estate data provider CoreLogic says prices rose in April from the previous April in 48 states. Prices also rose 3.2 percent in April from March, much better than the previous month-to-month gain of 1.9 percent. Prices in Nevada jumped 24.6 percent from a year earlier, the most among the states. California’s gain was next at 19.4 percent, followed … [Read more...]
