Supply conditions in September–November 2017 compared to supply conditions one year ago were mostly “weak” to “stable” (or unchanged) in many states.
At the national level, housing affordability is down from last month and down from a year ago. Mortgage rates increased to 4.19 percent this November, up 9.3 percent compared to 3.82 percent a year ago.
This holiday is recognized as a day of service, and is an opportunity to serve your community. Based on data from the 2017 Member Profile and 2017 Firm Profile we can see how REALTORS® are volunteering in their community.
During the September–November 2017, properties sold in less than 31 days in 16 states: Washington, Oregon, California, Nevada, Utah, Colorado, North Dakota, South Dakota, Nebraska, Kansas, Minnesota, Indiana, Kentucky, Tennessee, Rhode Island, and Massachusetts. Properties also sold in less than 31 days in the District of Columbia.
Existing-home sales rose 5.6 percent in November from one month prior while new home sales increased 17.5 percent.
After five consecutive years of solid gains, home price growth in 2018 is likely to calm down measurably and rise by only 2% on a nationwide basis.
The new tax law reduces the limit on deductible mortgage debt and limits the deductibility of the real estate tax up to $10,000.
Among REALTOR® survey respondents, the median expected price change for the next 12 months was 2.9 percent.
REALTORS® broadly expect sales to be “strong” than “weak” in the next six months across property types.
Why has the share of first-time buyers who obtained low downpayment mortgages not budged up significantly even with these low downpayment conventional financing programs?
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