National News

Real Estate in Brief: Millennials worry about prices, Spruce raises $15.6 million and more

Millennials want to buy a home, but they continue to view homeownership as unattainable amid rapidly increasing prices and increasingly limited inventory across the market, according to the CoreLogic Home Price Index (HPI) and HPI Forecast for June 2018.

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Construction industry job openings reach post-recession high

For those under the age of 24, a career in construction is a rare goal. According The Wall Street Journal, many parents these days may feel they have failed their child if they do not receive a college education.

Luxury market sees record growth in July

As the homebuying season reaches its peak for the year, sales in the luxury market continued to grow at a record pace in July. Prices in 19 major luxury markets saw double digit growth, according to the realtor.com 2018

Buyers will choose pets over dream home

A recent Realtor.com survey of more than 1,000 new homeowners concludes that pet ownership plays a vital role in selecting a home. Most pet owners consider their furry, feathered, or scaly friends as family, but 75 percent of pet-owning buyers

Strict land-use regulations bring highest home values

Economic growth often leads to increased home values, but why are some cities overwhelmingly surpassing others? A new report from Zillow finds zoning restrictions seem to have an impact on growing home values. From Zillow’s data, the medium and

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Real estate no longer Americans’ top investment choice

Choosing an investment strategy can be a nerve-racking and difficult decision. For years, investing in real estate has been a popular choice for a lot of Americans, but a new survey found that’s no longer the case. In a

NAR: Metro home prices reach record high in Q2

The national median home price for existing single-family homes reached an all-time high, edging up to $269,000, 5.3 percent higher than the second quarter of 2017, according to the latest quarterly report by the National Association of Realtors. As

Survey: Homebuying among the most stressful life events

Source: homes.com Purchasing a home is meant to be a joyful accomplishment, but many Americans find it more stressful than any other major life event. A new survey from Homes.com found that nearly 40 percent of Americans said purchasing

Rubio proposes federal expansion of Miami cash sales rule

Last month, the Miami Herald reported that an effort to crack down on money laundering through real estate purchases in Miami-Dade County could be expanded nationwide. In a July 31 statement made to McClatchy and the Miami Herald, Florida

Many millennials are prioritizing homeownership over retirement, debt payoff

Despite the high amounts of debt that plague many millennials, home ownership is still at the top of their priority list. For them, achieving the American Dream means buying a home early, even if that means dipping into retirement

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Zillow acquires Mortgage Lenders of America

Zillow Group took a lot of risks in the last year, but its latest is seen as one of the most uncertain. On Monday, Zillow announced plans to enter the mortgage business with its acquisition of Mortgage Lenders of America.

Study finds small-dollar mortgages denied at highest rate

Urban Institute recently identified a lack of small-dollar mortgages for single-family home purchases. When a shortage of these small loans is present, it is more difficult for those with sufficient credit to find affordable homeownership opportunities in low-cost housing

Real Estate in Brief: Wells Fargo pays $2.1 billion fine, West Coast price increases and more

Wells Fargo agreed to pay a $2.1 billion fine in order to settle allegations of misrepresenting the types of mortgages the company sold to investors during the housing crisis, according to the Chicago Sun Times. Although the amount seems

Builder confidence continues to grow in 55+ housing market

Builders continue to show confidence in the 55+ housing market as the second quarter index increases to 67, one point up from last quarter. According to survey results, the National Association of Home Builders (NAHB) 55+ Housing Market Index

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Wire transfer fraud: What agents can do to prevent it

In 2017, the real estate industry saw almost $1 billion in attempted or diverted funds from buyers, sellers, title companies and escrow agencies into the pockets of online hackers. Wire transfer fraud is not a new problem for the

Smart home technology is the new standard

In today’s digital age, novel inventions that once seemed like an unrealistic dream such as self-driving cars and virtual reality have become an integral part of everyday life. Just as Tesla is revolutionizing the automobile industry, smart homes are