Posts Tagged real estate

NAR predicts higher home sales, prices as 2018 continues

Economic strength, wage growth and more opportunities for jobs are expected to help boost the number of home sales and increase home prices in 2018. However, low inventory and weakening affordability is likely to keep these figures from accelerating rapidly. Lawrence Yun, chief economist for the National Association of REALTORS® (NAR) presented his 2018 midyear forecast at the 2018 REALTORS® Legislative Meeting and Trade Expo recently, stating that a moderate, multiyear increase in home sales and home prices is most likely in our future. After jumping 3.8 percent in 2016, existing home sales only gained 1.1 percent to 5.5 million

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2.5 Million Homes Still in Negative Equity at End of Q4 2017

small house sinking in water

Homeowners got a pretty good boost in home equity in 2017, but despite the overall improvement, millions of homeowners still struggle with owing more on their loans than their homes are worth. Negative equity, the state of owning a home that is worth less than what is owed on the mortgage, affected 2.5 million homeowners at the end of 2017. There’s good news, though. The number of homeowners with negative equity is dropping, and it appears to be dropping steadily.

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Home prices are rising fast. Here’s what buyers can do to get a good deal.

Shortages in existing inventory and buildable lots along with the rising costs of construction materials have made home prices increase at a more rapid rate. For today’s home buyers, it can seem challenging to find a home that meets their needs while also being affordable. Fortunately, there are things today’s buyers can do to find an affordable path to homeownership. According to the National Association of Realtors (NAR), home price increases softened a bit by the end of last year; however, a simultaneous uptick in existing home sales further depleted an already tight inventory. This has caused home prices to

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