Choose your path
Albany, New York, with its moderate home price growth, expanding inventory and relatively slow selling times, is the nation’s best market for those looking to purchase a home, Realtor.com reported June 4. Chicago and San Antonio round out the top three best markets for homebuyers.
The Appraisal Institute on June 10 distributed to AI professionals a 45-Day Notice regarding proposed amendments to Bylaws and Regulation Nos. 1 and 2.
Home flipping accounted for 7.2% of all homes sold during the first quarter, the highest home-flipping sales rate since the first quarter 2010, analytics firm ATTOM Data Solutions reported June 4. Flipped homes sold for an average gross profit of $60,000, a 38.7% return on investment.
Mortgage rates fell last week for the sixth consecutive week, dropping to their lowest level since September 2017, Freddie Mac reported June 6 in its Primary Mortgage Market Survey. Freddie noted that low rates can benefit current homeowners who are eligible to refinance conventional mortgages.
Alabama enacted legislation, effective May 29, allowing state-licensed appraisers to perform evaluations for federally regulated financial institutions.
The Consumer Financial Protection Bureau published its rulemaking agenda May 22, revealing that two of the biggest regulatory matters it will focus on over the next year will be financing for property assessed clean energy loans and new rules related to the Home Mortgage Disclosure Act. The agenda covers rulemaking through April 30, 2020.
The average revenue per room at hotels decreased by 0.02% for every 1% increase in the number of available Airbnb properties, according to researchers at Florida State University who analyzed data from 10 cities, CityLab reported May 29. Researchers found that the number of Airbnb properties jumped from 51 in 2007 to more than 500,000 in 2017.
The size of new single-family homes averaged 2,584 square feet during the first quarter of 2019, up from 2,576 square feet during the fourth quarter — a move that runs counter to the recent trend of shrinking home sizes, the National Association of Home Builders reported May 21.
Pending home sales dropped 1.5% in April, marking the 16th consecutive month of year-over-year declines, the National Association of Realtors reported May 30. The Midwest was the only region to see growth in pending home sales, which were up 1.3% for the month.
The Appraisal Institute designated 20 members in May, including nine who received their MAI designations, two who received their SRA designations, seven who received their AI-GRS designations and two who received their AI-RRS designations.
Pop up content here.