Stay on top of the pulse of the real estate market with weekly compilations of local and national news articles concerning the real estate industry.
Real Estate News and Information – December 28th, 2015
National News
Housing Market Hit With Seasonal Slowdown
(MReport, 12/21/15)
As the winter season presses on, the housing market is experiencing a seasonal slowdown in activity among home sales, prices, and inventory. Read More
New Federal Rules for Mortgage Forms Blamed for Delaying Loans
(Wall Street Journal, 12/21/15)
It is taking home buyers longer to get a mortgage, which some in the real-estate industry say is the result of new federal rules meant to make mortgage terms easier to understand. Read More
Are All-Cash Home Sales Disappearing in the Housing Market?
(MReport, 12/21/15)
The share of residential home sales that are all-cash transactions has been on the steady decline for nearly five years. At their peak, all-cash sales accounted for nearly half of all home sales; now that percentage is down below one-third, according to data released by CoreLogic on Monday. Read More
Fed’s Lockhart Suggests Pace of Four Rate Increases Over a Year
(Bloomberg, 12/21/15)
Federal Reserve Bank of Atlanta President Dennis Lockhart said the central bank’s commitment to a “gradual” tightening suggests interest rates could be raised at every other meeting of the policy-setting Federal Open Market Committee, though the actual pace will depend on incoming economic data.
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Buying More Affordable than Renting in 58 Percent of U.S. Markets According to 2016 Rental Affordability Analysis
(RealtyTrac, 12/21/15)
RealtyTrac® (www.realtytrac.com), the nation’s leading source for comprehensive housing data, today released its 2016 Rental Affordability Analysis, which shows that buying is still more affordable than renting in 58 percent of U.S. housing markets despite home price appreciation outpacing rent growth in 55 percent of markets. Read More
Existing-Home Sales Take a Plunge
(National Mortgage Professional Magazine, 12/22/15)
November was a disastrous month for existing-home sales, according to the latest data from the National Association of Realtors (NAR). Total existing-home sales fell 10.5 percent to a seasonally adjusted annual rate of 4.76 million from a downwardly revised annual rate in October of 5.32 million.
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5 Real Estate Trends That Will Dominate 2016
(REALTOR®Mag, 12/22/15)
This year may have marked the best for housing since 2007, but the market will likely get even rosier in 2016, according to a recent real estate forecast by realtor.com®. Read More
New House Sales Up, But Numbers Disappoint
(National Mortgage Professional Magazine, 12/23/15)
On the surface, it should be good news. However, industry reaction to the latest new house sales data has been mostly gloomy. Read More
Here are Freddie Mac’s five housing predictions for 2016
(HousingWire, 12/23/15)
With just a few days left in 2015, Freddie Mac is looking towards 2016 and trying to predict just what’s going to happen in housing over the next 12 months. Read More
U.S. Renting Trends Helping LOs, Realtors, and Builders
(Mortgage News Daily, 12/23/15)
It is the holiday season. Some of us abstain from drinking alcohol, some of us don’t. And among those that don’t abstain, some drink a little and some drink a little too much, which often times results in, uh, inappropriate behavior and a hangover. For those interested in drinking and not becoming drunk, the latest “research” shows one teaspoon per beer, right before you start drinking, causes the alcohol to be broken down in the stomach instead of the liver so that it doesn’t get into the blood stream and hence the brain. Or not… Read More
Mortgage applications rise 7.3% as Fed moves rates
(CNBC, 12/23/15)
Borrowers looking to refinance before interest rates go up drove mortgage volume higher last week. Mortgage applications increased 7.3 percent from the prior week, according to the Mortgage Bankers Association. Refinance applications jumped 11 percent, and purchase applications rose 4 percent.
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Which Housing Markets Have the Most to Worry About
(Wall Street Journal, 12/23/15)
Home prices are closing in on their records of the last decade, reigniting fears of bubbles. Time to panic?
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Home Buying Predictions for a New Year
(New York Times, 12/25/15)
Home buying in 2016 will remain challenging for many borrowers. But the market should look closer to normal, as more homeowners who had been stuck underwater reach the surface and more first-time buyers find their financial footing. Read More
A big political battle over Dodd-Frank financial reforms is coming in 2016
(Los Angeles Times, 12/27/15)
Forgive and forget. Or just pretend that banks’ greedy and reckless behavior never happened.
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YOUR MONEY-Predictions for the 2016 housing market
(Reuters, 12/28/15)
Is this going to be your year to buy a new home? Read More
The Hottest U.S. Housing Markets in December 2015
(realtor.com, 12/28/15)
Even if you don’t celebrate Christmas, Hanukkah, Kwanza, or Festivus, the holidays seem to really take over the month of December: With long lines everywhere, office parties, decorations, and random elf sightings, everything else practically grinds to a halt. It’s typically not the best time to find a new job, start a diet, or—especially—buy or sell a home. Read More
Local News
Resort luxury housing market in Eagle and Summit counties demonstrate significant growth year after year in November 2015
(Denver Post, 12/18/15)
The number of luxury homes sold (sales over $1 million) in the resort markets of Summit County (Breckenridge, Copper, Keystone), and Eagle County (Vail Valley and Beaver Creek), showed signs of increase year-over-year according to a November 2015 luxury market report prepared by LIV Sotheby’s International Realty. Read More
Developers intend to bring ‘urban lifestyle’ apartments to downtown Colorado Springs
(Gazette, 12/20/15)
All apartments aren’t created equal, nor do they cater to the same audience. Read More
Mortgage rate hikes could temper Denver home prices next year
(Denver Post, 12/20/15)
The Federal Reserve’s decision Wednesday to lift interest rates could hit metro Denver residents close to home and temper a two-year run-up in home prices. Read More
Mystery buyer snags Boulder’s Canterwood Apartments for $65M
(Daily Camera, 12/21/15)
Boulder’s Canterwood Apartments have sold to a mystery buyer for just over $65 million, becoming the priciest per-unit deal for a three-story “garden style” complex, according to real estate agents who worked on the deal. Read More
Aurora a hot city for apartment complex sales
(Denver Business Journal, 12/21/15)
Another big apartment complex in Aurora has been sold. Read More
New housing on the horizon
(Parker Chronicle, 12/22/15)
Work has begun on several new housing projects in Parker. Read More
Colorado’s population jumped by 101,000 in 12 months
(Denver Post, 12/22/15)
Colorado’s population rose by nearly 101,000 people the past year, ranking the state second only to North Dakota for its rate of increase, according to updated estimates from the U.S. Census Bureau.
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Colorado is nation’s second-fastest growing state
(Denver Business Journal, 12/23/15)
Colorado’s population is growing fast. Read More
Developers to build 356 downtown apartments
(Colorado Springs Business Journal, 12/23/15)
The trend for urban living has encouraged Colorado Springs real estate developer Nor’wood Development Services and apartment owner and commercial property manager Griffis Blessing to build 356 new apartments in two projects downtown. Read More
25 wealthiest ZIP codes in metro Denver (interactive map)
(Denver Business Journal, 12/23/15)The Denver Business Journal’s List of this year’s 25 ZIP codes with the highest median income in the metro area shows that the big money continues to migrate largely to the northern and southern areas.
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New report determines whether it’s better to buy or rent in 11 Colorado counties
(Denver Business Journal, 12/24/15)
Is it better to rent or buy in metro Denver? Read More
City, school district find early obstacle in confluence-area land swap
(PostIndependent, 12/27/15)
A wrinkle needs to be ironed out before a land swap between the school district and the city that’s needed for the new Glenwood Springs Elementary School construction and confluence-area redevelopment can proceed. Read More
Golf course land prime for development hits market at $8.7M
(BusinessDen, 12/28/15)
Building 72 fairway-view homes would be even par for a newly listed Douglas County property.
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