Longworth Group at Keller Williams Arizona Realty

A new study says an overwhelming majority of millennials want to be homeowners, but student loans are holding them back
  • Post By : New Home Ambassador
  • first time home buyers,student loans,builder trade in program,new home ambassador

For many millennials, the idea of homeownership is still a big picture dream, with a new study saying 89 percent plan to purchase a home in the future — but simply can’t because of student debt.

According to a recent study released by Apartment List, 6,400 millennial renters nationwide were surveyed in regards to their plan for owning a home. Despite the majority of young people wanting to migrate away from renting, 48 percent have nothing saved for a down payment.

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Home Prices Up 6.34% Across the Country!
  • Post By : New Home Ambassador
  • housing prices,home prices,Builder Trade In Program,New Home Ambassador

The Federal Housing Finance Agency (FHFA) recently released their latest Quarterly Home Price Index report.

In the report, home prices are compared both regionally and by state.  Looking at the breakdown by state, you can see that each state is appreciating at different rates.

Based on the latest numbers, if you plan on relocating, waiting to move may end up costing you more!

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New Home Friday 11-30-2018
  • Post By : New Home Ambassador

Metrostudy forecasts a mixed bag of good, bad news
  • Post By : New Home Ambassador
  • mortgage rates,housing market,new home construciton,housing supply,builder trade in program,new home construction

Metrostudy chief economist Mark Boud and his team recently released their analysis and forecasts for the fourth quarter of 2018. The number-crunching indicates smooth sailing for the not-so-distant future with turbulence expected by 2020.

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Homebuilder confidence plummets to the lowest level in more than two years as 'demand stalls'
  • Post By : New Home Ambassador
  • new home construction,rising mortgage rates,rising home prices,new home builders,rider elite team,builder trade in program,new home ambassador

Rising mortgage rates and continued home price growth are hurting affordability and fast becoming a toxic cocktail for the nation's homebuilders.

Sentiment among homebuilders dropped 8 points in November to 60 in the National Association of Home Builders/Wells Fargo Housing Market Index. That is the lowest reading since August 2016, but anything above 50 is still considered positive. The index stood at 69 in November of last year and hit a cyclical high of 74 last December.

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New Home Friday 11-17-2018
  • Post By : New Home Ambassador

Here’s How the Labor Shortage Is Impacting Housing, by the Numbers
  • Post By : New Home Ambassador
  • new home construction,labor shortage,builder trade in program,new home ambassador

NAHB Economist Robert Dietz breaks down the ways the lack of skilled construction labor is affecting the housing market.

 

Among the benefits of firming economic growth—GDP increased at a 4.2% annualized rate in the second quarter of 2018, the fastest pace since 2014—is ongoing job creation and low unemployment. At 3.7%, the current unemployment rate risks being too low. Right now there are more open, unfilled jobs in the economy than there are unemployed persons to fill them.

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Home price gains fall below 6% for the first time in a year: August S&P Case-Shiller index
  • Post By : New Home Ambassador
  • housing market,housing prices,mortgage rates,builder trade in program,new home ambassador

Mortgage interest rates didn't begin their recent surge until the start of September, but home prices were already feeling pressure, as fewer people could afford what was for sale.

Nationally, prices rose 5.8 percent in August compared with August 2017, according to the S&P CoreLogic Case-Shiller home prices index. That is less than the 6 percent annual gain in July.

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New Home Friday 11-02-2018
  • Post By : New Home Ambassador

Housing Is Still Affordable in the United States!
  • Post By : New Home Ambassador
  • housing affordability,builder trade in program,new home ambassador

Lately, there have been many headlines circulating about whether or not there is an “affordability issue forming in the housing market.”

If you are considering selling your current house and moving up to the home of your dreams, but are unsure whether or not to believe what you’re seeing in the news, let’s look at the results of the latest Housing Affordability Report from the National Association of Realtors (NAR).

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