Home Prices Up 5.73% Across the Country

Some Highlights:

  • The Federal Housing Finance Agency (FHFA) recently released their latest Quarterly Home Price Index report.
  • In the report, home prices are compared both regionally and by state.
  • Based on the latest numbers, if you plan on relocating to another state, waiting to move may end up costing you more.

What is the Cost of Waiting Until Next Year to Buy?

  • The cost of waiting to buy is defined as the additional funds it would take to buy a home if prices & interest rates were to increase over a period of time.
  • Freddie Mac predicts interest rates to rise to 5.1% by the end of 2019.
  • CoreLogic predicts home prices to appreciate by 4.8% over the next 12 months.
  • If you are ready and willing to buy your dream home, find out if you are able to. Contact me: emmanuel@EmmanuelFonte.com 

Home Renovation Pros Paint a Bright Picture for the Rest of 2018

The Houzz Renovation Barometer for fourth quarter 2018 shows that wait times to work with a building firm have dropped

New data just out on the residential remodeling industry paints a rosy picture for firms in the industry. Firms expect business activity to rise during the final three months of 2018, the data shows. And homeowners may get some relief from long wait times to start their projects, as the average wait time for construction sector firms dropped to 4½ weeks from 6½ weeks during the previous three months.

“Home renovation professionals are clearly very upbeat about the year end, despite a number of challenges facing the industry today,” says Nino Sitchinava, principal economist at Houzz.

The data come from the Q4 2018 Houzz Renovation Barometer, which tracks residential renovation market expectations, project wait times and recent business activity. (Market expectations and business activity have been smoothed out to account for predictable seasonal fluctuations, while project wait times have not.) The Barometer is based on a quarterly survey of residential remodeling businesses with a profile on Houzz and garnered 1,750 responses. Read on to gain insights from what they said.

Buying a Home is Cheaper than Renting

Home Prices Are Up 6.49% Across the Country [INFOGRAPHIC]

NWMLS Monthly Market Snapshot

Real Estate Statistics for April 2018 Infographic

Buyer & Seller Markets

House Rentals Outpace Apartment Boom

The multifamily sector has seen a frenzy of apartment construction over the last decade, but it’s single-family homes that were the fastest growing type of rental between 2007 and 2016, according to a new study by RentCafe. Over the last decade, single-family rentals rose by 31 percent, while the multifamily sector grew by 14 percent. In net gain, the growth makes up 3.6 million units versus 3.2 million units added, respectively.