The bad news: The bond market is anticipating a Federal Reserve rate increase later this year.
Zillow is forecasting that rents will rise in 34 of the 35 largest U.S. metros, though 11 of the 35 are expected to see slower growth.
This demographic shit has also been playing a role in both the lack of inventory and in the slowness in new home sales over the past several years.
A total of 39,775 investors — both individuals and institutions — completed at least one home flip in the second quarter of 2016, the highest number of home flippers since the second quarter of 2007 — a nine-year high.
San Jose, California has become the first U.S. metro area with a median single-family home price above $1 million, Realtors say.
It’s been nearly seven years since the foreclosure crisis peaked in 2010, and that means many former homeowners who lost their homes could be re-entering the housing market.
Homes are selling more quickly this year than last year in 27 of the nation’s 35 largest metro housing markets – in some cases, much more quickly.
It’s not an easy housing market for first-time homebuyers, with tight inventories continuing to push home prices upward and tighter credit standards by lenders.
Ongoing fallout from the Brexit vote abroad is pushing down U.S. mortgage rates closer to their all-time lows, and as a result, mortgage refinancing applications are surging.
The “older the better” saying seems to apply to new mortgage applicants as Millennials have the lowest credit scores when compared with older cohorts.