The major headline for This Week in Real Estate is for the second straight year, real estate is named the best long-term investment. Below are a few of the highlights from the week of April 20, 2015 that influence our business:
* Americans Agree: Real Estate Best Long-Term Investment. Signaling growing confidence in the housing recovery a majority of Americans, for the second straight year, named real estate the best long-term investment. Today real estate is either the top choice or tied for the top choice as the best investment among all major gender, age and income groups. Real estate leads with 31% of Americans choosing it, followed by stocks/mutual funds at 25% and gold at 19%. Full story…
* Sales of Existing U.S. Homes Rise to Highest Level Since 2013. Sales of previously owned homes jumped in March by the most in four years, putting the U.S. residential real estate market on firm footing heading into the busiest time of year. The gain in March was the biggest since December 2010. Sales of single-family homes increased 5.5 percent to an annual rate of 4.59 million, the most since August 2013. Figures from the Mortgage Bankers Association on Wednesday showed stronger demand is extending into April. The group’s index of purchase applications climbed last week to the highest level since June 2013. Full story…
* Housing Recovery Steady In 2015, Will Pick Up Pace Next Year. Solid employment gains, attractive mortgage rates, a growing economy and pent-up demand will help keep the housing market forward throughout 2015 and into next year, according to economists who participated in yesterday’s National Association of Home Builders (NAHB) 2015 Spring Construction Forecast Webinar. “This should be a good year for housing, buoyed by sustained job growth, rising consumer confidence that is back to pre-recession levels and a gradual uptick in household formations,” said NAHB Chief Economist David Crowe. “We expect 2016 to be even better, due to a significant amount of pent-up demand and an economy that will be entering a period of reasonable strength and consistency.” Full story… http://www.nahb.org/news_details.aspx?sectionID=148&newsID=17232
* Home Prices Are Climbing Faster and Faster, but This Is Not a Bubble. During the peak years of the housing bubble, from 2003 – 2005, the data on supply versus price appreciation looked very similar to what we are seeing now. But there are key differences. Full story… http://www.realtor.com/news/home-prices-climbing-faster-but-this-is-no-bubble/
Have a productive week!