1.Once-hot Southern California housing market further cooled in May
“The Southern California housing market continued to mellow out in May, with price gains slowing down and sales still running low.”
2.Economic worries still dragging down housing market, Fannie Mae says
“Broad concerns about the sluggish economy are still holding back the housing market, according to a survey released Monday by Fannie Mae.
3.Strong Growth in Mortgage Application Volume Following Memorial Day Holiday
“Mortgage applications increased 10.3 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending June 6, 2014. The previous week’s results included an adjustment for the Memorial Day holiday. “
4.Many Seek New Homes Near Cities but Are Priced Out
“The Phoenix lawyer moved downtown a few months ago into a new $389,000 home with a warehouse-style floor plan, a Jacuzzi tub and kitchen counters made of Caesarstone quartz. His favorite coffee spot is three blocks away. When the Arizona Diamondbacks play on Friday nights, he can watch postgame fireworks from his deck.”
5.Americans finally feel better about economy: Survey
“After seven long years of sharp recession and tepid recovery, the CNBC All-America Economic Survey found some key measures of U.S. public opinion finally regained their precrisis levels. “
6.Homes gain value, but fewer selling
“The average Inland Empire home is now selling for $100,000 more than when the housing bust bottomed out. “
7.Tepid Housing: Blame the Weak Labor Market
“Despite the fact that the unemployment rate was unchanged at 6.3 percent in May, with 9.8 million Americans unemployed, the lowest it has been since September 2008, a record high 92 million Americans remain out of the labor force, according to the Bureau of Labor Statistics. U.S. businesses added 217,000 jobs in May, adding at least 210,000 jobs since February.”
8.New U.S. Migration Trends: Texas, the Housing ‘Garden of Eden’
“In the 1930s, during the Dust Bowl, when farmers in the Midwest migrated west from Oklahoma, Kansas and Nebraska to California because of severe dust storms, folk singer Woody Guthrie paid tribute to this epic westward migration in a song called “Do Re Mi.” Strumming his guitar, Guthrie sings: “California is a Garden of Eden; a paradise to live in or see. But believe it or not, you won’t find it so hot, if you ain’t got the Do Re Mi.” So many Oklahoma families abandoned their farms that Californians called them “Okies.””
9.When It Comes To Real Estate, Nice Guys Finish Last
“When it comes to real estate, nice guys finish last. Especially in tough markets. And by tough markets, we mean seller’s markets, buyer’s markets, depressed markets, rebounding markets – and any other type of market we missed.”
10.Southland Home Sales Slow; Median Price Rises Again but at Slower Pace
“Southern California home sales lost momentum in May, falling from both April and a year earlier as investor demand fell and buyers continued to face inventory, affordability and credit constraints. Prices climbed again but at roughly half the year-ago pace, a real estate information service reported. “