Top News of the Week

“America’s changing migration patterns in recent years could help decide the outcome of the election, in just a little over two weeks.”
“Delinquency Rate Could Remain Elevated Until 2022”
“NAHB Chairman Optimistic, But Concerned About Affordability”
“Wildfires Will Add to California’s Housing Squeeze”
“The Crazy 2020 Market Continues to Defy Conventional Wisdom”
“Multi-Billion-Dollar Pledge From JPMorgan Chase to Close Wealth Gap”
“2021 Color Palettes Deeply Influenced by 2020 Changes”
“Builders Struggling to Meet Burgeoning Demand”
“Carson Describes Post-Pandemic Future of Housing”
“Survey: Don’t Write Big Cities’ Obituary Yet”
“Lot Size Shrinks to All-Time Low”
“Housing Insecurity Is Growing Threat to Latinos”
“Millennials Turn Pandemic Lockdowns In Their Favor, Save For Down Payment”
“Airbnb Sites Now Have a Mask Rule”
“Make Outdoor Space More Inviting in Cool Weather”

America’s changing migration patterns in recent years could help decide the outcome of the election, in just a little over two weeks.

An analysis by Realtor.com reveals a steady pattern of people moving from blue states to traditionally red states — and bringing their politics with them.

It’s a trend that Redfin CEO Glenn kelman has noticed, as well. He told Bloomberg:

The Realtor.com analysis concludes that the migration from expensive blue cities to less-expensive red ones has, indeed, turned some states into swing states.

Americans are becoming more optimistic about selling a house, but less optimistic about buying one.

The Fannie Mae Home Purchase Sentiment Index for September was up 3-point-5 points to a reading of 81 — the second straight monthly increase.

The share of those who say now is a good time to buy a home fell 8-percentage points from August, while the share of those saying it’s a good time to sell rose by 14-percentage points.

“Delinquency Rate Could Remain Elevated Until 2022”

The nation’s mortgage delinquency rate could remain above pre pandemic levels for at least another year and a half, according to a new analysis.

Black Knight also warns there could be more than a million “excess delinquencies” next March. That’s when the first wave of forbearances reach the 12-month expiration.

Meanwhile, the Urban Institute reports that there are some 400-thousand homeowners who have become “needlessly delinquent.”

Researchers say those homeowners either don’t know they are eligible for mortgage forbearance, or they assume they will face a huge repayment once forbearance is over.

“NAHB Chairman Optimistic, But Concerned About Affordability”

The chairman of the National Association of Home Builders remains upbeat, while also acknowledging the potential storm clouds on the horizon.

Chuck Fowke said, in an NAHB video:

Lumber prices have accelerated so rapidly this year, the NAHB says it has added some 16-thousand dollars to the price of a typical new single-family home.

“Wildfires Will Add to California’s Housing Squeeze”

The record wildfires in California have destroyed thousands of homes, threatening to further exacerbate the state’s existing housing shortage.

Jonathan Miller, CEO of Miller Samuel, told Yahoo Finance:

Miller says his firm’s analysis shows that there is virtually no place in California right now that does not have an inventory shortage.

“The Crazy 2020 Market Continues to Defy Conventional Wisdom”

In years past, the last week of September was typically the best time to buy a home. Prices were typically lower, and sellers more motivated.

But not so in 2020.

Realtor.com Chief Economist Danielle Hale says, in a company produced video:

In this environment, Hale says, buyers will need to be “determined and prepared” to succeed.

“Multi-Billion-Dollar Pledge From JPMorgan Chase to Close Wealth Gap”

Banking giant JPMorgan Chase has become the latest to pledge billions of dollars to help close the “wealth gap” that decades of housing discrimination help create.

JPMorgan Chase joins Citigroup and Bank of America in promising to make mortgages more widely available to black and Latino borrowers, and to invest in communities that have been hurt by past discrimination.

JPMorgan Chase has committed 30 billion dollars over five years.

“2021 Color Palettes Deeply Influenced by 2020 Changes”

2020, the year of the pandemic and being locked down at home, has really shaken up paint companies’ color palettes for 2021.

Sherwin Williams, Behr, PPG, Valspar, and HGTV Home by Sherwin-Williams have introduced their new palettes, and what all seem to have in common is comfort, reassurance, reconnection to nature.

The hues range from PPG’s Big Cypress and Misty Aqua to Sherwin-Williams’ Urbane Bronze, to Valspar’s Garden Flower and Maple Leaf.

“Builders Struggling to Meet Burgeoning Demand”

Demand for new homes is the strongest it’s been in years. And many Builders are struggling to keep up with the demand.

Washington,k DC-area builder Michael Rubinfeld told CNBC there are multiple challenges right now:

Rubenfeld adds that the price of land has gone up about 10-percent this year, and the labor shortage is only getting worse.

“Carson Describes Post-Pandemic Future of Housing”

America’s housing patterns are making a major shift, because of the coronavirus pandemic.

HUD Secretary Dr. Ben Carson sees it coming;

Carson made his comments at the recent Values Voter Summit.

“Survey: Don’t Write Big Cities’ Obituary Yet”
“Lot Size Shrinks to All-Time Low”

While the pandemic has prompted many city dwellers to move to the suburbs, a new survey reveals that most people think that urban life is far from a thing of the past.

The survey, by an online real estate education program called AceableAgent.com, found that 70-percent of Americans say they’re optimistic that big cities will bounce back,

And in a recent report, a researcher at Barclays Capital in New York suggested that while there have been numbers of people leaving big cities, it has not been the mass Exodus that some media reports have

“Lot Size Shrinks to All-Time Low”

How big is the lot your brand new house sits on?

Chances are, it’s noticeably smaller than what it would have been a few years ago. New Census Bureau figures reveal that average lot size is now the smallest it has ever been.

Average lot size in 2019 was under one-fifth of an acre, or about 82-hundred square feet.

But it also matters where your house is built. The typical new home lot in New England is three times the national average. Lots in west coast states, on the other hand, tend to be the smallest.

“Housing Insecurity Is Growing Threat to Latinos”

Latino families across America could be facing a crisis of “housing insecurity” this winter, says one expert.

Orson Aguilar, Principal of Policy and Advocacy with the group Unidos US, told Yahoo Finance:

Estimates are that as of the end of September, approximately one in five renters was at risk of eviction.

“Millennials Turn Pandemic Lockdowns In Their Favor, Save For Down Payment”

It appears that the pandemic has moved many Millennial home buyers off the sidelines and into the market.

A new survey by Realtor.com and HarrisX revealed an urgency among the young buyers, many of whom were actually able to capitalize on having to stay home to accumulate money for a down payment.

In fact, 68-percent of survey respondents said sheltering-in-place helped them save the money they needed to buy a house.

“Airbnb Sites Now Have a Mask Rule”

Airbnb is stepping up its effort to protect hosts and guests from COVID-19.

All will now be asked to wear masks, and practice social distancing, when interacting.

And starting next month, Airbnb hosts must undertake a five-step cleaning procedure.

“Make Outdoor Space More Inviting in Cool Weather”

The weather has turned cooler in much of the U.S. now, but if you’re selling your home, that doesn’t mean you can’t show off your outdoor living spaces.

Design experts quoted by Realtor.com say there are a number of things you can add, to make your outdoor living space more attractive in cooler weather.

The list of additions includes things like a fire pit, plush cushions and blankets, a heat lamp, an all-weather rug, and even extra lighting.

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