National News

Millennials Deemed a Plausible Solution to Recovery

According to New Geography, approximately 64 percent of Millennials–those born between 1982-2003–are focused on the importance of owning a home, with 20 percent saying it is one of the most important priorities in life, followed by being a good

RE/MAX, Prudential and Century 21 Top Home Buyer/Seller Satisfaction Study

According to Agent Genius, seller satisfaction rose 4.9 percent with brokerages since 2010, but buyer satisfaction dropped slightly, as tracked by J.D. Power and Associates’ fourth annual Home Buyer/Seller

RealtyTrac Discovers Lower Foreclosure Activity in 84 Percent of Metro Areas

RealtyTrac’s Midyear 2011 Metropolitan Foreclosure Market Report studied 211 metropolitan areas, finding that foreclosure activity through June dropped on a year-over-year basis in 84 percent, or 178, of the areas. In addition, the report found that the top ten

PHSI Continues Steady Climb in Midwest and South, but Closings Still Dropping

This June, NAR’s Pending Home Sales Index rose 2.4 percent to 90.9 – an increase over last month as well as a 19.8 percent increase over June 2010, according to Calculated Risk. However, Fannie Mae is skeptical as to

Realtors’ Suggestions for Saving the Housing Market

The National Association of Realtors, along with everyone else, would like to save the housing market. According to the Chicago Tribune, these are their ideas for fixing the industry: creating safe mortgage financing for qualified borrowers, revising underwriting standards,

Average Home Equity Down, Wealth Gap Widens

Home equity decreased across all racial groups in 2009: whites’ average home equity fell to $95,000; in 2005, a white’s home equity was $115,364 on average; blacks’ home equity fell to $59,000 in 2009, creating an equity loss of

Despite Varying Forecasts, Experts Agree on 2011-2012 Home Sale Increases

Everyone has a different outlook on the housing market, but where you get your information from can also alter your opinion for better or worse. The truth is, nobody is entirely sure what will happen to home sales or

Dallas’ Seasonally Adjusted Case-Shiller Index Decreased – Prices Increase with Buyer Demand

According to the most recent Case-Shiller indices, Dallas had an index of 114.31 this May, creating a 0.9 percent increase (non-seasonally adjusted) since April after a 0.4 percent increase from March to April, but the yearly change was still

Predicting Future Demand with the PRIZM Model

In an effort to predict the demands for building within the current housing market, Builder Magazine installed the PRIZM model, a tool that is made up of 66 segments typically used to describe “demographic, psychographic, and behavioral similarities in

What NAR and NAHB Spend Compared to Google and Facebook

A recent comparison by Agent Genius showed that while many criticize Google and Facebook’s annual lobbying costs, those for NAR and NAHB are within the same

Bankrate’s 2011 Closing Costs Survey Finds Texas has Second Highest Closing Costs

Bankrate’s 2011 Closing Costs Survey demonstrated that while home prices are tumbling, closing costs are still on the rise in most states–with an increase of 8.8 percent nationwide, compared to 2010. Nationwide, the average closing cost is now $4,070

Nationwide Home Sales Fall 0.8 Percent in June- Houston Holds Strong

Today, NAR reported that home sales dropped 0.8 percent, to 4.77 million, this June–8.8 percent below June 2010’s sale of 5.23 million

Bank of America Reports loss of $8.8 Billion

In the second quarter, Bank of America posted a $8.8 billion loss, following the $8.5 billion settlement with investors regarding troubled mortgage-backed

Index Rises from 13 in June to 15 in July

July brings a modest increase in homebuilder confidence, with the National Association of Home Builders/Wells Fargo sentiment index increasing to 15 (from 13 in June), according to Bloomberg

Next Boom Towns in the U.S.-Texas Expected to Dominate

The top boom town in the U.S. is expected to be Austin, Texas , according to recently released data from New Geography. Houston doesn’t fall far behind, earning a fifth place nomination, and San Antonio came in fourth, making

Highest-Priced Home in U.S. Sells for $85 Million

Once regarded as the highest-priced home in the U.S. with a price tag of $150 million, the former Los Angeles County home of Candy Spelling has sold for a drastically reduced price of $85 million (43 percent less) after

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