In RISMedia’s 28th Annual Power Broker Survey, brokers across the nation were asked to reflect on the overall pattern of the 2015 housing market with an eye toward the future, and the general response was a positive one. RISMedia found that 58 percent of respondents describe their confidence level in the post-recession housing market as “cautiously optimistic”. Read More
The spring selling season is upon us. As “For Sale” signs sprout like spring flowers, many in the residential real estate industry are gearing up for what looks to be a promising quarter.
Jonathan Smoke, realtor.com Chief Economist, commented on the spring market for an article written by Cicely Wedgeworth on realtor.com this morning:
” ‘Listings are growing as they normally do this time of the year, but because demand has been growing faster than supply, homes are selling faster,” observes Jonathan Smoke, chief economist of realtor.com. “So the monthly trend is the normal seasonal pattern, but the year-over-year decline is reflective of demand being stronger than supply for more than a year, which is resulting in fewer homes available and faster-moving inventory.’ “
How is inventory trending in your neighborhood? Have you seen speedier market times? Head over to realtor.com for the full story, “America’s 20 Hottest Real Estate Markets in March 2016,” to see if your city made the list.
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Here’s this week’s roundup of the real estate news and updates you don’t want to miss.
- According to Construction Dive, the number of starter homes on the market in the U.S. has tumbled, while their price has increased 5.6 percent since 2012.
- Zillow published a helpful guide to homebuyers who are in the market for a smaller home to downsize to. It’s worth a read for any agent who services this demographic.
- Are you a fan of “House Hunters?” If you missed it, realtor.com’s article “How ‘House Hunters’ Glosses Over the Real Estate Reality” is a great read for anyone who actually works as an agent and follows the show.
- Have you run into this issue at closing? “Many lenders and title companies are refusing to provide copies of the final closing documents to real estate agents representing homebuyers,” writes the Chicago Tribune‘s Kenneth Harney in his article, “Real estate agents blocked from helping with closing documents.”
- Today’s market is a tough one for sellers who are also trying to buy, Redfin found in a recent survey. ThinkAdvisor.com has the story.
The real impact of TRID on lenders, agents and everyone in between continues to prove a contentious point in the real estate industry.
On Monday, Mortgage News Daily took a closer look at some notable recent dispatches from various sources (Ellie Mae’s February Monthly Origination Insight Report, the MBA’s fourth quarter survey of independent mortgage banks and The National Association of Federal Credit Unions President and an American Bankers Association survey, for starters) to figure out what TRID has really left in its wake. Read More