Per Trulia, There Could Be More Homes For Sale Soon

“Single-family starts are still growing at double-digit rates,” Trulia Chief Economist Ralph McLaughlin said. “Supply-constrained homebuyers should rest assured that relief is on the way.”

“Privately-owned housing starts in July increased 2.1% to 1,211,000, an increase from June’s 1,186,000, according to a report released by the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. Housing starts increased 5.6% annually from last year’s 1,147,000.”

Although the rate of housing construction is slowing, “July represents the fourth straight month where the 12-month rolling total was flat or less than the previous month. Still, the total was the most starts in a 12-month period since May 2008.” On the other side of the coin, housing completions decreased 8.3% from June. It’s up 3.2% from previous year, 994,000.

“Single-family homes have experienced a slower recovery in the past few years, and remain under-supplied today,” Liu said. “We expect supply of single-family homes to catch up over the next few years.”

Market Trends
July 2016

A Banner Year for Loan Originations

With strong home sales, near-historic low interest rates, a refi boom, and steady home price appreciation, Freddie Mac’s economic team projects that mortgage originations will scale nearly $2 trillion for 2016.

The projections from the current edition of the company’s Economic and Housing Research Outlook paint a sunny picture despite what the authors term overall weak economic growth. If these projections are accurate, this would be the highest volumein four years. The impact of the UK’s Brexit vote along with other global factors, continue to keep downward pressure on U.S. rates. Freddie Mac says that this pressure is likely to remain for the foreseeable future as the outlook for a rapid global recovery remains muted. Home prices keep rising, averaging 6.2% in June. The pace of appreciation has remained fairly level in recent months, but continues well above income growth which is rising at 2-3%. Increasing inventory could further propel price growth and if interest rates should lean higher, those price gains could start pumping the brakes.

Interest Picture 01

Logitech Pop Home Switch

We’ll still need electrical outlets for the foreseeable future, but the light switch may soon be a thing of the past. The Logitech Pop Home Switch is designed to replace your typical wall switch while being far more versatile. Using a wireless connection with a stationary base — there are those pesky outlets again — it works all over your home, letting you do things like turn on the lights, start a playlist, or lock the door. It’s compatible with…

Discover More…
Interest Picture 02

Toasteroid Toaster

Whether you’re making an accompaniment to your morning meal or adding an extra bit of crunch to a sandwich, the Toasteroid Toaster makes burning your bread far more fun. Inside its die-cast aluminum body is a series of microfilaments that let you toast graphics, messages, or nearly anything else you want right into your bread, from emojis to the day’s weather forecast. Of course, it also lets you set your preferred darkness, and even preview it in the app — no more mysterious…

Discover More…

Kurt Galitski

Meet Kurt Galitski - The Kurt Real Estate Group, your new best friend. Distinctive Strategies that Deliver Record-Setting Results. When you combine Kurt’s passion and knowledge of the real estate market, you really gain an appreciation for what makes Kurt different. But what truly sets him apart from the crowd are his 5 distinctive strategies and his property management… For Kurt, getting into real estate was not an accident, it was a deliberate and calculated decision to deliver a better experience to home buyers, sellers, and landlords that they have ever received before. Today, you could ask any one of hundreds of clients, read his Yelp reviews, or look at his track record of being featured in Orange Coast Magazine in excess of eight consecu­tive years and you too will say mission accomplished. 877-957-6677

More Posts - Website

Follow Me:
TwitterFacebookLinkedInGoogle PlusYouTubeYelp