Consumer optimism sees slight uptick in April

April 29th, 2017 Real Estate

Consumer optimism edged up slightly in April, but not quite as high as the beginning of the month. Independents are more confident in the economy, and Republicans and Democrats are beginning to converge as the partisan divide slowly heals.

Trump picks Pam Patenaude to serve as HUD deputy secretary

April 29th, 2017 Real Estate

HousingWire Woman of Influence Pam Patenaude was originally shortlisted to serve as the Secretary of the Department of Housing and Urban Development. That position ended up going to Ben Carson, as HousingWire first reported. Now in another HousingWire first, President Donald Trump plans to install Patenaude in the true position of power at HUD – deputy secretary.

Ten-X predicts existing home sales will drop in April

April 29th, 2017 Real Estate

Ten-X predicts existing home sales will slip in April, coming down off March’s high. Despite this drop, economists explain the two months will still be the best in recent memory for the housing market.

[Photos] Avilla Homes builds its first leased neighborhood in Texas

April 29th, 2017 Real Estate

Avilla Homes opened its first leased neighborhood in Texas with a ribbon cutting ceremony in the Dallas area. Despite low inventory levels, the homes’ developer explained the new neighborhood will not compete with single-family developments.

Moody’s: Canadian lumber tariff may take up to 6 months to impact U.S. homebuilders

April 29th, 2017 Real Estate

The Trump administration recently announced a tariff on Canadian softwood lumber imported into the U.S. to address a long-standing issue between the two countries. And while Canadian lumber producers, as intended, will feel the impact immediately, so will U.S. homebuilders. The main difference is that it could take U.S. homebuilders up to six months to feel the financial blow.

Housing industry praises Trump’s selection of Pam Patenaude as HUD deputy secretary

April 29th, 2017 Real Estate

For those in the housing industry, Pam Patenaude’s name is well known. So, it should come as no shock that the housing industry supports the Trump administration’s nomination of Patenaude to serve as the HUD deputy secretary. Declarations of support for Patenaude came in quickly after the White House’s announcement of her nomination, including from some of the housing industry’s biggest groups, and from Patenaude’s potential boss at HUD.

Airbnb agrees to let California conduct fair housing tests on hosts

April 29th, 2017 Real Estate

California homeowners who rent out their properties on Airbnb could now potentially be the target of fair housing investigations, thanks to an agreement between the short-term rental website and the California Department of Fair Employment and Housing. Here are the details.

REALTORS® Coming to DC for 2017 REALTORS® Legislative Meetings & Trade Expo

April 29th, 2017 Real Estate

NAR members and leadership advance the real estate industry and public policy while attending special issues forums, committee meetings, legislative activities, and an industry trade show. May 15-20, 2017, in Washington, D.C.

www.nar.realtor/legislative

Realtors® Support Pam Patenaude Nomination for HUD Deputy Secretary

April 28th, 2017 Real Estate

WASHINGTON (April 28, 2017) — The Trump administration today announced the nomination of Pam Patenaude as deputy secretary. Following is a statement from NAR President William E. Brown on the nomination:

“The National Association of Realtors® commends the Trump administration for its nomination of Pam Patenaude for the position of deputy secretary.

“Pam’s extensive and strong background in real estate and housing will be an asset, and NAR has long enjoyed a strong relationship with Pam working on and advancing… Read More

REALTOR® Advocacy Month: VOTE WEEK

April 28th, 2017 Real Estate

From voter registration drives to educating members on REALTOR® Champions, the VOTE WEEK is an excellent opportunity to educate members on how to support pro-real estate candidates and issues.

Lack of housing supply slows pending home sales in March

April 28th, 2017 Real Estate

Pending home sales dipped slightly in March as low levels of housing inventory created a strain on the market. Low inventory levels are not only holding back home prices, but also creating more competition and increasing home prices. The National Association of Realtors forecasts the rate of home sales for 2017.

The long journey ahead for tax reform and what it means for housing

April 28th, 2017 Real Estate

Treasury Secretary Steven Mnuchin and White House Chief Economic Advisor Gary Cohn revealed the Trump administration’s tax plan on Wednesday. So what exactly does the industry know so far? Well, for starters, tax reform, including housing-related tax reform, still has a long road ahead. Even with scarce details, housing associations gave their initial assessments of how the tax reform changes would impact the housing market and homebuyers.

First quarter homeownership rate underwhelms

April 28th, 2017 Real Estate

Homeownership rates held steady in the first quarter in what one economist called an underwhelming report. The homeownership rate continues to hover near all-time lows, and only Black households saw a notable difference in their rate in the first quarter.

CoreLogic: Distressed sales drop to lowest level in nearly 10 years

April 28th, 2017 Real Estate

Distressed sales continued to slip in January, hitting the lowest level in nearly a decade. CoreLogic’s report shows if distressed sales continue to move at the current rate, they could hit pre-crisis norms by early 2018.

Prepare for the REALTORS® Legislative Meetings & Trade Expo

April 28th, 2017 Real Estate

NAR members and leadership advance the real estate industry and public policy while attending special issues forums, committee meetings, legislative activities, and an industry trade show. May 15-20, 2017, in Washington, D.C.

www.nar.realtor/legislative

Pending Home Sales Dip 0.8% in March

April 27th, 2017 Real Estate

WASHINGTON (April 27, 2017) — Pending home sales in March maintained their recent high level, but momentum slackened slightly in most of the country as dearth supply weighed on activity, according to the National Association of Realtors®. Only the South saw an uptick in contract signings last month.  

The Pending Home Sales Index,* www.nar.realtor/topics/pending-home-sales, a forward-looking indicator based on contract signings, declined 0.8 percent to 111.4 in March from 112.3 in February. Despite… Read More

Homeownership in the Crosshairs of Latest Tax Plan, Say Realtors®

April 27th, 2017 Real Estate

WASHINGTON (April 26, 2017) – Major reforms are needed to lower tax rates and simplify the tax code, but that shouldn’t come at the expense of current and prospective homeowners. That’s according to National Association of Realtors® President William E. Brown, a second-generation Realtor® from Alamo, California and founder of Investment Properties.

Brown said that while the President’s tax proposal released today is well-intentioned, it’s a non-starter for homeowners and real estate professionals who see the… Read More

HUD Secretary Carson visits Columbus, Ohio

April 27th, 2017 Real Estate

HUD Secretary Ben Carson is embarking on the latest stop for his national listening tour – Columbus, Ohio. Carson will spend Wednesday, Thursday and Friday listening to various organizations from the community. Here’s more on the secretary’s tour, and his schedule this week.

ATTOM: Average homeowner gains 24% return in equity since purchase

April 27th, 2017 Real Estate

Homeowners are hitting decade highs in their accrued equity, as it increased by 24% since the time of purchase to the first quarter in 2017. And not only are equities rising, but also the amount of time homeowners spend in their home. ATTOM Data Solutions explains why.

PRMI expands Florida footprint with new branch opening

April 27th, 2017 Real Estate

Primary Residential Mortgage Inc. expanded its territory in Florida with its newest branch opening in Miami. The new location is complete with a new team of mortgage insurance professionals, including its new branch manager who brings 31 years of experience with her.