Houston is America’s most affordable housing market for middle class families compared to the nation’s 50 largest metro areas. Nonetheless, fewer than 50% of first-time home buyers in the Houston area can afford the median-priced home despite even though home prices may have decreased for the first time in nearly a year. Since the economic boom in the 50s and …
The job market and real estate industry of Texas supplement each other. The Texas employment forecast looks to indicate that jobs will increase 2.4 percent in 2023. The forecast is based on an average of models that include projected national GDP, oil futures prices and the Texas and U.S. indexes. The forecast suggests that 332,500 jobs will be added in …
As compared to historical trends in housing prices, the price of homes is set to steadily, yet positively rise this time around. The housing recovery has led to an increase in house prices all over the country. According to real estate data, prices rose in approximately 225 cities among a total of 276 which were included in the analysis. Nationwide, …
Citigroup Inc. is required to pay $968 million to compensate the taxpayer-backed mortgage buyer, Fannie Mae, for over a decade of claims linked to faulty home loans. In a recent statement Citigroup said that the agreement includes 3.7 million mortgages originated from 2000 to 2012 that were sold to Fannie Mae. Even though payments are covered by existing reserves, Citigroup …
Home prices have shot up over the last 12 months, according to Trulia. In the report, 2013’s Top 10 Healthiest Housing Markets, Trulia reviews the largest housing markets in the nation based on three characteristics: it identifies the characteristics of a healthy housing market as – strong job growth; low, but manageable vacancy rates; and low foreclosure inventory. Houston was …
The economic trends of the housing market over the last decade have been all over the place. Home prices were soaring until the year 2005, when they spiraled down at a fast pace. Home prices started to increase again in 2012. But, how strong is the housing recovery and what will home prices look like over the next decade? In …
Are you in the market to buy a home? The housing market is heating up and sellers are regaining control. Following are a few housing trends to consider: Low mortgage rates Currently, the 30 year fixed mortgage rate on the Zillow’s Loan Mortgage Marketplace is at 3.80 percent. Erin Lantz director of mortgages at Zillow said that even though the …
According to an analysis prepared by Trulia, compared to renting, buying a house is a better deal in every major US housing market so long as mortgage rates remain below 5.2 percent. Although the increasing interest rates will make homeownership unaffordable for some, the recent increase to over 4 percent isn’t expected to affect the housing activity. Mortgage rates increased …
Since real estate transactions throughout the greater Houston area never slowed down during the traditional quieter winter months, it’s difficult to tell that the spring home buying season has started. March marks the 22nd consecutive month of positive home sales for Houston. This is due to the addition of almost 119,000 jobs over the past 12 months, which resulted in …
