REALTORS® reported that investors accounted for 20 percent of total residential sales in October (18 percent from September). According to the latest REALTORS® Confidence index, approximately 58 percent of respondents who reported a sale to an … [Read more...]
Luxury Housing Market Surges [INFOGRAPHIC]
InfoGraphic … [Read more...]
The buying power of a 3.3% mortgage
With today’s 30-year, fixed-rate mortgages averaging a bit less than 3.5 percent, people can afford much more of a house than ever before. (And I mean that — ever. These are the lowest mortgage rates in US history.)(I also speak from … [Read more...]
MID on the table? Tell Congress to take it off
The House of Representatives has been talking a lot about avoiding the fiscal cliff by reducing or eliminating tax deductions, and you know what’s going to be high on the list: the mortgage interest deduction. That’s why NAR has put out a … [Read more...]
Long-term home prices do more than track inflation
One thing I’ve written several times is the idea that, over the long haul, house prices haven’t changed all that much since the early 1900s once they’ve been adjusted for inflation. A result of this is (I said) that housing prices … [Read more...]
Jobless Claims
In each Economic Update, the Research staff analyzes recently released economic indicators and addresses what these indicators mean for REALTORS® and their clients. Today’s update discusses jobless claims. Initial claims for unemployment insurance … [Read more...]
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