A lack of homes for sale is pushing prices up. Inventory posted its biggest decline in 18 months as homeowners cling to relatively low mortgage rates. The typical U.S. home sold for roughly $382,000 during the four weeks ending July 23, up 2.6% from a year earlier, the biggest increase since November. That’s according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. Still, homebuyers are getting a bit of relief as mortgage rates inch down from the eight-month high hit a few weeks ago. The typical monthly mortgage payment is $2,599 at today’s average weekly rate, down $55 from the all-time high of $2,654 in early July. Today’s housing market is unusual because prices are increasing despite lukewarm demand. Redfin’s Homebuyer Demand Index—a measure of requests for tours and other homebuying services from Redfin agents—is down 3% from a year ago, and mortgage-purchase applications are down…
Posted On Friday, 28 July 2023 05:29 Written by
With mortgage applications off by more than 20% year over year, many are feeling the pain. Many had thought that we were going to see a much stronger mortgage bond market by now and rates would have been slowly heading into the 5% range. I was one of those people. I still believe that rates will head lower as the Fed begins to realize that they have gone far enough in raising rates, some think too far, but after they raise rates again next week, we might get enough information in that will convince them that this move higher should be their last. I hope so! The next meeting will be in September and the repayment process on student loans will tighten economic activity a good bit all on their own. We don’t need a recession. That is, if we ever get a “new” definition of what a recession is!…
Posted On Monday, 24 July 2023 00:00 Written by
Redfin reports 14 of every 1,000 homes changed hands in the first half of 2023, compared to 19 of every 1,000 during the same period in 2019. The turnover rate for large suburban houses has declined even more. Roughly 14 of every 1,000 U.S. homes changed hands during the first six months of 2023, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. That’s down from 19 of every 1,000 during the same period of 2019 and the lowest turnover rate in at least a decade. In 2018, Freddie Mac estimated that about 2.5 million more homes needed to be built to meet demand, with the shortfall mainly due to a lack of construction of single-family homes. The homebuying boom of late 2020 and 2021, driven by record-low mortgage rates, remote work and a surge in investor purchases, depleted already low inventory levels. Finally, 2022's soaring…
Posted On Sunday, 23 July 2023 07:45 Written by
In the latest survey from Lending Tree they found that 29% of Americans say they’d be open to co-buying a home with someone other than their spouse or significant other.  36% of Non-homeowners fear they'll never be able to buy on their own. 29% of Americans say they’d be open to co-buying a home with someone. 63% say they’d consider doing so with a family member who wasn’t their spouse and 57% say they’d consider buying with a good friend or current roommate.  Nearly two-thirds of parents say they’d consider co-buying a home with their child. Millennial parents are the most receptive to the idea at 76%, compared with 53% of baby boomers. 64% of non-homeowners say they think they’ll be able to afford a home without a co-buyer one day. Gen Z is the most optimistic generation at 76%, while baby boomers have the bleakest outlook at 43%. Of those who think…
Posted On Sunday, 23 July 2023 14:24 Written by
Existing-home sales slipped in June, according to the National Association of Realtors®. Sales varied among the four major U.S. regions, with the Northeast experiencing gains, the Midwest holding steady, and the South and West posting decreases. All four regions recorded year-over-year sales declines. Total existing-home sales[i] – completed transactions that include single-family homes, townhomes, condominiums and co-ops – receded 3.3% from May to a seasonally adjusted annual rate of 4.16 million in June. Year-over-year, sales fell 18.9% (down from 5.13 million in June 2022). “The first half of the year was a downer for sure with sales lower by 23%,” said NAR Chief Economist Lawrence Yun. “Fewer Americans were on the move despite the usual life-changing circumstances. The pent-up demand will surely be realized soon, especially if mortgage rates and inventory move favorably.” Total housing inventory[ii] registered at the end of June was 1.08 million units, identical to May but…
Posted On Thursday, 20 July 2023 07:12 Written by
  A bit about Natasha: Natasha Nassar Hazlett is an inspirational speaker, coach, attorney and author of the #1 Amazon Best Selling Book: Unstoppable Influence: Be You. Be Fearless. Transform Lives.   One decision helped this formerly uninspired, unmotivated entrepreneur on the verge of abandoning her business to finally ditch her limiting, self-sabotaging beliefs and uncover her radiant Truth. Now she and her husband, Rich, are helping thousands of others do the same through their popular Unstoppable Influence® 21-Day Challenges and coaching programs.   Natasha and Rich are the co-founders of Fast Forward Marketing, LLC.  Together they empower entrepreneurs around the world with the clarity, confidence, and strategies they need to boost their income and influence while working less. Natasha is also Of Counsel to the Boise law firm of Angstman Johnson, where her practice is focused on estate planning and estate and trust administration.  She graduated from Southern Methodist University with a B.A. in Political Science…
Posted On Thursday, 20 July 2023 00:00 Written by
In part 1 of this article, we diagnosed a reality of many digital disruptions, especially those pertaining to AI and automation in the education industry: Technology will NOT replace humans, but only give them a greater opportunity to leverage their tactile, human skills to find new roles in the world. In such a hands-on, human sector as education, educators, administrators, and leaders alike should not fear the current influx of autonomous software like ChatGPT but instead, use an anticipatory mindset coupled with their human competencies to adapt autonomous software and think critically and creatively about letting it handle the simple, otherwise arduous tasks. In doing so, professionals in education can better foster the ability for students to learn the skill of application and in turn, how they themselves can adapt to the world around them. The best part? All of this cannot be replicated by AI, autonomous software, or machine learning (ML) whatsoever!
Posted On Tuesday, 18 July 2023 00:00 Written by
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