1.Home Price Gains Now Driven More By Jobs Than By Rebound Effect
“The Trulia Price Monitor and the Trulia Rent Monitor are the earliest leading indicators of how asking prices and rents are trending nationally and locally. They adjust for the changing mix of listed homes and therefore show what’s really happening to asking prices and rents. Because asking prices lead sales prices by approximately two or more months, the Monitors reveal trends before other price indexes do. With that, here’s the scoop on where prices and rents are headed.”
2.Housing recovery ‘changing shape,’ hinges on job growth, report says
“After two years of rebounding off the bottom of a bust, the recovery in the housing market is “changing shape” this summer, and any new price gains will depend more on job growth and economic fundamentals.”
3.Delinquency and Foreclosure Rates Decrease in Second Quarter
“The delinquency rate for mortgage loans on one-to-four-unit residential properties decreased to a seasonally adjusted rate of 6.04 percent of all loans outstanding at the end of the second quarter of 2014. The delinquency rate decreased for the fifth consecutive quarter and reached the lowest level since the fourth quarter of 2007. The delinquency rate decreased seven basis points from the previous quarter, and 92 basis points from one year ago, according to the Mortgage Bankers Association’s (MBA) National Delinquency Survey.”
4.Average US 30-Year Mortgage Rate at 4.14 Percent
“Average long-term U.S. mortgage rates rose slightly this week but remained near their lows for the year.”
5.As home-equity loans reset, these owners are most at risk
“Home-equity lines of credit, popular during the housing boom of the mid-2000s, are now a source of concern, as many of these loans are due to reset to higher payments in the next few years. ”
6.The real estate gamble in Arizona: Inventory is up 35 percent from last year as cash investors begin to pull away from the market.
“In many markets, investors were purchasing properties to rent out for a short period of time before they had any intention of selling. Many of the large investors have hinted at buying places and holding them for 5 to 7 years before selling them off. Since big money entered the market in 2008, we are already seeing that phase one is being completed and big money is certainly exiting the market. ”