The U.S. government closure is only 10 days old, but it has already begun to erode consumer confidence in the nation’s recovering real estate market. And the longer the shutdown lasts, the more pessimistic Americans are likely to become.
Instead of putting a damper on sales, the prospect of rising interest rates will likely drive homebuyers to make a deal sooner rather than later, making for a busy summer and fall.
An April housing survey by Fannie Mae found that 51 percent of Americans expect home prices to climb at least 3 percent over the next year, a big jump in confidence from a year ago, when only 32 percent were optimistic prices would rise.
Recent news of interest to homebuyers, home sellers, and the home-curious includes a report that a shortage of homes has held back sales for a second straight month. Also, Fannie Mae says the housing industry will help spur U.S. economic growth throughout 2013.
Recent news of interest to homebuyers, home sellers, and the home-curious includes a report that the number of available homes for sale in San Francisco was up 14 percent in March from February, but it’s still far down from a year earlier. Also, U.S. foreclosure filings are down dramatically from a year ago, and a ranking of the happiest jobs in America put real estate agents at the top of the list.
The number of people who believe now is a good time to sell a home has nearly doubled over the past year, according to a new survey from Fannie Mae. Housing sentiment has been climbing steadily over the past 12 months as home prices posted double-digit increases and mortgage interest rates remained near record-low levels.
Recent news of interest to homebuyers, home sellers, and the home-curious includes word from Fannie Mae that not all buyers need a 20 percent down payment to get a home loan, forecasts for a strong spring homebuying season, and a survey that found that nearly 90 percent of Americans dream of owning a home.
Recent news of interest to homebuyers, home sellers, and the home-curious includes a promising report that tight mortgage standards will loosen in 2013. Also, government data suggests home prices will continue to rise for at least another five years, and the Federal Reserve says Americans have finally recovered the $16 trillion in wealth they lost during the recent recession.
Recent news of interest to homebuyers, home sellers, and the home-curious includes a report that found housing affordability rising in four Bay Area counties, and sharp increases in home sales and pending sales.
Recent news of interest to homebuyers, home sellers, and the home-curious includes a report showing that markdowns in home prices are becoming rare, especially in Oakland. Also, a warning about a suspect real estate website and news of rebounding home construction.