Millennials are the first generation to come of age in the post-recession housing market in a relatively positive light. Yet the No. 1 barrier to entry for young, would-be homebuyers? Credit. "The mortgage industry is poised to experience a monumental shift as more millennial homebuyers begin to enter the market," said Joe Tyrrell, executive vice … [Read more...]
Millennials and the Housing Market
A lot has been said about the millennial generation and the housing market. CoreLogic recently finished a two-part series in which they looked into younger buyers and first time homebuyers and their habits. In addition, the National Association of Realtors recently published their results for Home Buyer and Seller Generational Trends survey. Their … [Read more...]
San Diego Interest Rates
On Thursday the National Association of Realtors said the share of first-time buyers is at the second lowest level in over 30 years. The 2015 Profile of Home Buyers and Sellers reveals a home buying market driven by repeat buyers within two income households. Historically, first-time buyers constitute nearly 40 percent share of primary home … [Read more...]
Return of the First-Time Home Buyers in San Diego
The National Association of Realtors® (NAR) announced that during the month of May sales of existing homes were at their highest rate in six years. This was on the heels of outstanding residential construction reports. Pushing 5.1 percent higher in April sales of single-family homes, condos and townhomes slide in at a seasonally adjusted annual … [Read more...]
Home Sales Increasing in San Diego as Rates Stay Low
The Housing Market Is Breaking Records In the most recent report from the National Association of Home Builders, existing home sales skyrocketed in April to their highest annual levels since October 2013. This surge has been fuelled by pent up demand, as well as sustained job growth and a long stretch of low mortgage interest rates. The growth in … [Read more...]
Prices on a Downward Trajectory
Home price appreciation is slowing across many top metros in the nation. In fact, according to the S&P Case-Shiller Price Index, the drop to 4.8 from 5.5 is the first month-over-month decrease since November 2013.This drop in appreciation isn’t just across the U.S... it’s also affecting many areas of Southern California. From September to October, … [Read more...]
What’s Keeping Renters out of the Housing Market?
With metros like Los Angeles, Riverside, and San Diego seeing a 10.7%, 11.1%, and 15.5% increase, respectively, in the number of college grads they’ve gained since 2007, it’s hard to believe that home sales aren’t off the charts. So, What’s Keeping Renters out of the Housing Market? Especially when you factor the job growth SoCal metros have … [Read more...]
1st Time Home Buyer's Program
Are you a first time homebuyer? I love first time home buyers because I understand just how stressful the home buying process can be. Not only are you moving into a new home which is at the top of the stress charts but you’re actually purchasing something for the most money you’ve ever spent and you’re wondering how does all of this work?? I … [Read more...]