Market News

Infographic: 2018 Home Price Predictions

The National Association of REALTORS® estimates that home prices will increase in the U.S. around 2 percent on average in 2018, but some individual states are predicted to see more growth or in sames cases decreases. Here is an infographic highlighting some of the states where housing prices are expected to rise and fall the most this year:

Highs and Lows tiny

To find information on your state’s price outlook for 2018, visit NAR’s Economists’ Outlook blog.

 

 

 

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Home Improvements You Can Tackle With Your Tax Return

By Megan Wild It’s sometimes tough, financially, to make home improvements. Many home improvements cost around four digits, and some cost even more. Unless you’ve been saving for a project, you’re unlikely to have that kind of cash lying around. Enter: your tax return! If you’re receiving a sizable chunk of change, it acts almost […]

The post Home Improvements You Can Tackle With Your Tax Return appeared first on RISMedia’s Housecall.

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Hot Home Trends: Florals Are Dressing Up Interiors

By Melissa Dittmann Tracey, REALTOR® Magazine

Consider adding more floral patterns into your staging. It’s bold and trendy, home designers say.

Floral prints are seeing a revival in home design, according to the design community on Houzz, a home renovation and design platform. In fact, they are calling florals one of the hottest home design trends of 2018.

But its re-emergence in interiors does come with a twist this time around. Floral designs in contrasting colors is trending. It can make a big statement and can be an eye-popping pattern to jazz up a space.

“Forget low-energy patterns and think botanical references in high-contrast colors, such as black and white, or teal and gold, and over-sized blooms,” Houzz notes in its forecast.

Floral patterns of roses, peonies, and lilacs are popular in wall art, throw pillows or bedding, rugs, or furnishings. It can feel vintage, and add a little flair to an otherwise neutral staging palette.

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Sunday’s Football Rematch: A Tale of Two Cities’ Home Prices Since 2005

The New England Patriots and Philadelphia Eagles have had two weeks to rest, strategize and get pumped up for Sunday’s big game in Minneapolis. Here’s a look at how home prices have moved from the last time – in February 2005 – these two teams played each other in the championship game:

Philadelphia                                                            New England

2005:     $193,800                                                   2005: $407,200

2018:     $238,900                                                   2018: $464,100

% price increase: ↑23.2%                                        % price increase: ↑14.0%

When it comes to home price increases, Philadelphia is the champion, but can they bring home the title on Sunday?

NAR Football Infographic - February 2018

*New England’s data on home prices is from the metropolitan statistical area (MSA) of Boston-Cambridge-Newton, MA-NH. Price data is from the third quarter of 2004 and 2017.

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Instant Reaction: January Jobs Report

The following is NAR Chief Economist Lawrence Yun’s reaction to this morning’s U.S. Bureau of Labor Statistics report on January employment conditions:

“The best news from the January jobs report is accelerating wages, which rose 2.9% from a year ago. The continuing job growth of 200,000 in January, and 2.1 million over the past 12 months, have kept the economy at essentially full employment. It is now to the point where employers have to offer higher wages to attract new employees.

Not all is fine, however. The labor force participation rate is still stuck at 62%, compared to 67% a decade ago, prior to the big recession. Also, the tightening labor market along with faster wage gains means that the Federal Reserve is inclined to raise interest rates more frequently.

Ultimately, the desire to buy a home will rise because of this strong job growth with higher pay, but the financial capacity to buy will be cut because of rising interest rates.”

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The Future of Real Estate? Zenplace Introduces Robot-Guided Tours

From augmented reality to smart apartments, tech has had a major impact on the real estate industry in the past few years. However, as more and more aspects of the home-buying and rental processes become automated, a general nervousness has taken hold. One company, however, is helping to transform the industry while keeping agents completely […]

The post The Future of Real Estate? Zenplace Introduces Robot-Guided Tours appeared first on RISMedia’s Housecall.

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[Infographic] Forecasting a Shadow: Groundhog Day and Real Estate

Winter lovers and haters come together on the second day of February every year to see Punxsutawney Phil climb out of his hole and cast his prediction for how much longer before the snow and ice slowly makes way for green lawns and chirpy birds.

Can a groundhog and his shadow also predict the direction of existing-home sales and prices in the year ahead? You decide. Here is what happened the past 20 years:

Capture

 

 

Groundhog Day Infographic - February 2018

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Realtors®: RESPA win on marketing service agreements

The U.S. Court of Appeals for the D.C. Circuit has reinstated its prior holding that payments for bona fide services provided and made at fair market value do not violate the Real Estate Settlement Procedures Act, or RESPA. This decision reinforces NAR’s support of marketing service agreements.

NAR President Elizabeth Mendenhall applauded the decision and issued the following statement:

“The National Association of Realtors® is pleased with the court’s reinstatement of its previous decision affirming that payments to settlement service providers are permitted by RESPA, so long as those payments are for goods and services actually furnished or performed and are made at fair market value,” said Mendenhall. “We’re hopeful this much-needed clarity will address any and all uncertainty moving forward for real estate professionals who have entered into marketing service agreements with settlement and other service providers.”

The court’s reinstatement of the previous decision reaffirms longstanding RESPA interpretations issued by the Department of Housing and Urban Development that had been challenged by the Consumer Financial Protection Bureau (CFPB) in the agency’s case against PHH, a mortgage lending and services company. NAR filed a “friend of the court brief” opposing CFPB’s interpretation, and the Court’s initial opinion upheld NAR’s position. Read NAR’s issue brief on the case, PHH v. CFPB.

The opinion of the en banc court—made up of all 13 judges in the D.C. circuit—was focused exclusively on the constitutional question regarding the structure of the Consumer Financial Protection Bureau. The judges ruled that the unilateral authority of the CFPB vested in a single person not subject to dismissal in the discretion of the President – the director of the CFPB – was not unconstitutional. The court upheld the provision in the 2010 Dodd-Frank law, which limited removal of the director only “for cause” as consistent with the President’s constitutional authority.

In affirming the constitutionality of the CFBP and reinstating the earlier court decision, the justices issued a variety of concurring and dissenting opinions. NAR will provide an analysis of the court’s opinion.

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Infographic: In a Blue Moon

Tonight is the first blue moon since May 2016. How has the housing market changed since then? Check out this infographic from the National Association of Realtors®.

in-a-blue-moon_27662299

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