Archive for the Mortgage Industry Category

After six straight months of declines, the number of existing-home sales crept back up in October, according to the latest data from The National Association of Realtors® (NAR). Total existing-home sales are defined as completed transactions that include singe-family homes, townhomes, condominiums and co-ops that are already built; i.e., not new construction. The number of these home sales increased 1.4 percent from September to a seasonally adjusted rate of 5.22 million last month. Sales remain lower on a year-over-year basis with sales down 5.1 percent. What’s behind the trend? NAR’s Chief Economist Lawrence Yun says greater housing inventory has brought more

Millennial home buyers are more active than any other generational group, but low inventory and climbing real estate prices continue to stall activity. According to the 2018 Home Buyer and Seller Generational Trends Report from the National Association of Realtors (NAR), 36% of all home purchases were made by millennials over the last year. This makes millennials–those who became adults around the year 2000–the most active home buying generation for the fifth consecutive year.  Coming in second, the Gen-Xers accounted for 26% of all home purchases in the last year. Following Generation X were younger and older baby boomers, being responsible for 18%