ru - Residential Update

October 2019

White House Unveils Plan to End Fannie, Freddie Control

The Trump administration on Sept. 5 shared its plan for releasing Fannie Mae and Freddie Mac from more than 10 years of government control, including the creation of new competitors, Bloomberg reported. The plan involves cooperation from multiple federal agencies and calls for reforms that protect the government-sponsored enterprises from another housing crash.

October 2019

Next Recession Won't Cause Housing 'Fire Sale:' Economists

Economists predict that the U.S. will experience a recession within the next two years, but Americans shouldn't fear a real estate "fire sale" because the next downturn is expected to be short and have limited impact on the market, according to a Realtor.com report released Aug. 26.

October 2019

Boise, Idaho, and Frisco, Texas, are Best Markets for Homebuyers, Research Reveals

Boise, Idaho, and Frisco, Texas, are the nation's best markets for homebuyers, according to a market analysis released Aug. 27 by credit firm WalletHub. The analysis tracked 23 indicators of housing-market attractiveness and economic strength in 300 cities. Other top markets are Overland Park, Kansas, and Cary, North Carolina.

October 2019

Housing Market Shows Signs of Slowdown Amid Economic Uncertainties: Realtor.com

Economic anxieties may be causing a slowdown in the housing market earlier than expected, as fewer homes are being offered for sale — exacerbating existing inventory issues — and the homes available for purchase are sitting on the market longer, Realtor.com reported Sept. 10 in its August 2019 Monthly Housing Trends Report.

October 2019

Peoria, Illinois, at Highest Risk of Housing Crash: Data Shows

Peoria, Illinois; Lakewood, New Jersey; and Portsmouth, Virginia, are at the greatest risk of a housing market crash during the next recession, according to a review of foreclosure data and underwater mortgages in 500 cities, personal finance site GoBankingRates reported Sept. 9. Overall, Florida has the highest concentration of cities with potentially problematic real estate.

October 2019

Fort Wayne, Indiana, Metro Area Remains Top Housing Market in US, Says Realtor.com

The Fort Wayne, Indiana, metropolitan market, with a median home price of $162,000, maintained its top spot as the hottest U.S. housing market in August, Realtor.com reported Sept. 12. Also atop the list: Pueblo, Colorado; Midland, Texas; Rochester, New York; and Columbus, Ohio.

October 2019

80% Americans Say Housing Affordability is a Nationwide Problem: NAHB Survey

Housing affordability is a nationwide problem, according to 80% of respondents to a National Association of Home Builders survey released Sept. 10. Of the proposed solutions, 64% said they support expanded affordable housing programs, 57% said they support higher taxes on the rich and 52% said they support reduced regulations.

October 2019

Renters, Owners Would Pay to Choose Neighbors: Rent.com

Renters would pay an additional $225 per month and homeowners an additional $125 per month for the privilege to choose their neighbors, according to a Rent.com survey reported Aug. 30. Millennials were willing to pay more than four times what baby boomers would spend. The results were similar for rural, suburban and urban residents.

October 2019

The Nation's Most Recession-proof Housing Markets are in Upstate New York: Redfin

The housing markets in Rochester and Buffalo in upstate New York are the least likely to be affected by the next recession, real estate marketplace Redfin reported Sept. 6. Markets in the Northeast are reportedly the strongest for several reasons: local economies that can resist volatility, fewer investor-owned properties and homes priced below bubble-bursting levels.

October 2019

House Prices Rising Fastest in Neighborhoods Where Cars Are Required, Report Shows

Home prices in car-dependent neighborhoods are rising faster than those in walkable neighborhoods, a trend likely the result of many homebuyers getting priced out of the most walkable neighborhoods, real estate marketplace Redfin reported Aug. 29. Philadelphia and Cleveland saw the greatest annual growth in car-dependent neighborhoods.