In The News – End of September 2016

National News

Your First Home Might Be Your Last

(Bloomberg, 9/26/16)

The challenges that first-time homebuyers face in the U.S. housing market has been the cause of some concern over the past few years, amid slow income growth, fast price appreciation in parts of the country, and doubts that millennials want to buy a home in the first place.  Read More

The Mysterious Disappearance of Repeat Home Buyers

(realtor.com, 9/26/16)
A lot of ink has been spilled over the woes of first-time home buyers struggling to save up for a down payment while paying off student loan debt, securing a mortgage in an age of sky-high credit scores, and then finding an abode they can afford at a time when the lack of properties on the market is driving prices to new heights.  Read More

New Housing Data Points to Market Contradictions

(National Mortgage Professional Magazine, 9/26/16)
The latest numbers related to housing appear to show a market in a slight state of confusion, with one report citing slumping sales and two reports offering different conclusion on whether home prices are rising or falling.  Read More

Seasonal Housing Slowdown

(Forbes, 9/27/16)
Many local markets have been red-hot. A home seller might be tempted to wonder what is wrong with their home or REALTOR® if a buyer is not found in a month. Throughout this past summer, nearly half of homes listed found a willing buyer within a month: the median days on market nationally was 34 days from April to August. The pace was faster in the Pacific Northwest and a bit slower in the New England states, but this broadly brisk rate of sales will not last because autumn is here and winter is ahead.
Read More

No Surprise: Home Prices Up Again

(National Mortgage Professional Magazine, 9/27/16)
The latest data for the S&P CoreLogic Case-Shiller Indices is a continuation of a trend that is showing no signs of abating: U.S. home prices are on what appears to be a non-stop ascension.  Read More

‘Massive’ shortage of appraisers causing home sales delays

(CNBC, 9/27/16)
Housing demand is rising rapidly, but a key cog in the wheel to homeownership is in deep trouble. The people most needed to close the deal are disappearing. Appraisers, the men and women who value homes and whom mortgage lenders depend upon, are shrinking in numbers.  Read More

Housing Market Catches a Second Wind

(MReport, 9/27/16)
Despite sitting at a considerably lower rate than at this time last year, demand for housing appears to be on its way up, according to data released by Redfin on Tuesday.  Read More

Some of America’s Hottest Housing Markets Are Cooling Off

(Bloomberg, 9/28/16)
The red-hot growth in home prices across the U.S. West is starting to slow in some cities as sticker shock and low inventory put off weary buyers.  Read More

Mortgage Applications and Rates Take a Drop

(National Mortgage Professional Magazine, 9/28/16)
It was a weak week for mortgage applications, according to the latest Mortgage Bankers Association Weekly Mortgage Applications SurveyRead More

Yellen on Capitol Hill: No Timetable on Rate Hikes

(National Mortgage Professional Magazine, 9/28/16)
Janet Yellen has assured Congress that the Federal Reserve is not operating on a “fixed timetable” when it comes to determining when to initiate rate hikes.  Read More

The New Face of Immigration Is Changing the Housing Market

(Bloomberg, 9/29/16)
The twin shortages plaguing the U.S. in 2016 — a shortage of cheap service labor, and a shortage of affordable housing — are products of the same little-noticed trend: For decades, the education level of immigrants has been rising.   Read More

Lack of Affordable Homeownership at Seven-Year High

(National Mortgage Professional Magazine, 9/29/16)
Twenty-four percent of U.S. county housing markets were less affordable than their historic affordability averages during the third quarter, according to the Third Quarter Home Affordability Index report from ATTOM Data Solution. This newly recorded level marks a 22 percent increase from the second quarter and a 19 percent increase from one year ago—and it is also the highest level recorded since the third quarter of 2009. Read More

Commercial real estate prices are back to pre-crash highs but transactions are falling

(Yahoo, 9/29/16)
Commercial real estate transactions took a huge hit in August.  Read More

Local News

Once called America’s “most perfectly planned community,” Northglenn is again looking good to buyers

(Denver Post, 9/24/16)
Thank location, millennial buyers and affordability for making the 80233 ZIP one of the hottest U.S. real estate markets. Read More

Front Range real estate market feeling burn of appraiser shortage

(Denver Post, 9/24/16)
Home appraisals are taking longer to complete and costing more, and that is vexing home buyers, mortgage borrowers, real estate agents and loan officers along the northern Front Range.  Read More

Brokers report active luxury market in Steamboat Springs

(Steamboat Homefinder, 9/25/16)
Local real estate brokers have noticed an uptick in the region’s luxury market, including a boost in the number of homes sold for more than $2 million this year.  Read More

2 of America’s hottest ZIP codes for home sales are in Colorado

(Denver Business Journal, 9/26/16)
Two of America’s top four ZIP codes for “hottest” real estate markets are in Colorado, according to a new report.  Read More

Denver home prices continued to rise in July amid slowing national market

(Denver Post, 9/27/16)
While Denver’s housing market shows signs of leveling off, its home prices continue to rise at a pace slower only than Portland, Ore. and Seattle.  Read More

Colorado Springs and Denver tops for super-sized homes

(Denver Post, 9/27/16)
Provo, Ogden and Salt Lake City in Utah lead among metro areas for having the highest concentration of homes with eight or more rooms. Not entirely unexpected give the emphasis the Mormon faith places on raising large families.  Read More

Foreclosure picture continues to improve in Colorado Springs

(Gazette, 9/28/16)
Colorado Springs’ foreclosure rate continues to fall.  Read More

Colorado’s share of millennials living with parents beats the national average

(Denver Post, 9/28/16)
Like millions of Americans in less-than-ideal living arrangements, Rebecca Treon has tried to focus on the positive aspects of moving back in with her mother for the first time since she was a teenager.
Read More

Area home sales steady, prices up through summer

(Post-Independent, 9/29/16)
The usually busy summer home sales season in Garfield County saw some ups and downs, but the overall trend is encouraging, according to area real estate observers.  Read More

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