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Some industry experts are saying that the housing market may be heading for a slowdown in 2017 based on rising home prices and a jump in mortgage interest rates. One of the data points they use is the Housing Affordability Index, as reported by the National Association of Realtors (NAR). Here is how NAR defines the index: “The Housing Affordability Index measures whether or not a typical family earns enough income to qualify for a mortgage loan on a typical home at the national level based on the most recent price and income data.” Basically, a value of 100 means a family earning the medianRead More →

Recently released data from the National Center for Health Statistics revealed that 1.3 million Millennial women gave birth for the first time in 2015. There are now over 16 million women in this generation who have become mothers. “All told, Millennial women (those born between 1981 to 1997) accounted for about eight in ten (82%) of U.S. births in 2015.” The data also shows that this generation has waited until later in life to become parents as only 42% of Millennial women were moms in 2014, compared to 49% of Generation X at the same age. A Pew Research Center article discussing the data, pointsRead More →

Have you ever been flipping through the channels, only to find yourself glued to the couch in an HGTV binge session? We’ve all been there… watching entire seasons of “Love it or List it,” “Fixer Upper,” “House Hunters,” “Property Brothers,” and so many more, just in one sitting. When you’re in the middle of your real estate themed show marathon, you might start to think that everything you see on TV must be how it works in real life, but you may need a reality check. Reality TV Show Myths vs. Real Life: Myth #1: Buyers look at 3 homes and make a decision toRead More →

In many markets across the country, the number of buyers searching for their dream homes greatly outnumbers the amount of homes for sale. This has led to a competitive marketplace where buyers often need to stand out. One way to show you are serious about buying your dream home is to get pre-qualified or pre-approved for a mortgage before starting your search. Even if you are in a market that is not as competitive, knowing your budget will give you the confidence of knowing if your dream home is within your reach.  Freddie Mac lays out the advantages of pre-approval in the My Home section of their website:Read More →

Some Highlights: CoreLogic’s latest Home Price Index shows that prices rose by 7.1% across the United States year-over-year. With mortgage interest rates rising in the short term, CoreLogic believes price appreciation will slow to 4.7% by this time next year. 49 out of 50 states, and the District of Columbia, all had positive appreciation over the last 12 months, with the only exception being the state of Connecticut, which experienced a -0.5% appreciation. Source: Housing Market & Real Estate News Lenora LostaunauLenora is a full-service San Diego real estate agent, serving residents county-wide, and those looking to live in San Diego. She specializing in MetroRead More →

It appears that Americans are regaining faith in the U.S. economy. The following indexes have each shown a dramatic jump in consumer confidence in their latest surveys: The University of Michigan Consumer Sentiment Index National Federation of Independent Businesses’ Small Business Optimism Index CNBC All-America Economic Survey The Conference Board Consumer Confidence Survey It usually means good news for the housing market when the country sees an optimistic future. People begin to dream again about the home their family has always wanted, and some make plans to finally make that dream come true. If you are considering moving up to your dream home, it mayRead More →