Source: Inman News –
Prospective homebuyers hoping to buy a home in the next four months say the lack of inventory is their biggest challenge, but many believe winter is a good time to buy because sellers are motivated to sell and more willing to negotiate.
That’s according to a survey of more than 1,300 visitors to realtor.com conducted from Nov. 7-16, which found 45 percent of buyers in the market said there’s not enough inventory in their price range.
The survey also found that a surprising number of prospective homebuyers — 19 percent — are planning to do all-cash deals.
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Source: CNN/Money –
Home prices posted the largest annual gain since housing bubble days in August, although the month-over-month gain slowed for the fourth straight month. The closely watched S&P/Case-Shiller home price index increased 12.8% from a year earlier, the biggest 12-month gain since February 2006.
But with mortgage rates significantly higher in recent months, the pace of increases is slowing. The 1.3% rise compared to July is only half the monthly increase posted in April when mortgage rates were near a record low. Still, the recovery in the housing market continues to be strong, helped by a drop in foreclosures that were weighing on overall prices. A drop in the unemployment rate is also helping to support the housing recovery.
Experts said the slowing of the monthly increase is not necessarily a bad thing, as it will reduce the chance of another bubble in home prices.
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Source: Realtor.org –
Lenders’ tight underwriting standards have been blamed for sidelining many potential home buyers the last few years. But lenders may be showing signs of loosening up a bit. The average down payment on a 30-year, fixed-rate mortgage fell 2.74 percent from the second quarter to 15.73 percent of the home’s value in the third quarter, according to a new report from LendingTree. According to LendingTree, the states with the highest home values are also where down payments remain the highest percentages of the property price.
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