– Home Price Growth May Be Done Decelerating
– FHFA Ups Conforming Loan Limit For 2020
– NAHB CEO: Some California Builders Could Go Out of Business
– We Aren’t Moving As Much Anymore
– Gen Z Borrowers Have Strong Credit Scores
– NAR Talks Housing Reform With HUD
– First Car-Free Neighborhood Built From Scratch Opens in 2020
– NAHB’s Dietz: Affordability Still Looms Large
– Redfin Forecasts Bidding War Comeback in 2020
– How Americans Shop For Furnishings
– Carson Touts HUD, VA Efforts to End Veterans’ Homelessness
– New Homes Getting Just a Bit Smaller
– Supermodels’ Dad Ordered to Tear Down Megamansion
– Best Time to Buy a Christmas Tree to Save Money
Home Price Growth May Be Done Decelerating
The slowdown in home price growth may be over.
The latest S&P CoreLogic Case Shiller Home Price Index rose 3.2% year-over-year in September, a slight uptick from August.
The Index’s co-founder, Yale economist Robert Shiller, told Bloomberg.
Meanwhile, the FHFA’s Housing Price Index showed home prices were up 4-point-9 percent in the third quarter from a year ago.
FHFA Ups Conforming Loan Limit For 2020
The FHFA is raising the conforming loan limit for 2020 to over half a million dollars.
The limit applies to mortgages purchased or acquired by Fannie Mae and Freddie Mac.
Starting January 1st, the conforming loan limit in most of the country will be $510,400, an increase of $26,000 over the current limit.
Alex Elezaj is chief strategy officer at United Wholesale Mortgage:
Elezaj spoke in a HousingWire podcast.
NAHB CEO: Some California Builders Could Go Out of Business
The high cost of building houses could put some California builders out of business.
Jerry Howard, CEO of the National Association of Home Builders, said on Fox Business.
Howard says in San Diego, 60-percent of the cost to build a house is now due to government regulation.
We Aren’t Moving As Much Anymore
Americans just aren’t so eager to pull up stakes and move anymore.
The latest Census Bureau report finds that less than 10% of the U.S. population moved, in the 12 months ending last March. That’s the lowest share of movers since World War Two.
The migration rate has been falling since 1970 when, on average, 20% of Americans moved every year.
Gen Z Borrowers Have Strong Credit Scores
America’s youngest homebuyers are off to a strong start in building their credit profile. That’s the conclusion of a new report from LendingPoint.
The company says it studied more than 5-million near-prime loan applications, and found that borrowers born after 1996 have an average FICO score that’s higher than the average Millennial or Gen Xer.
NAR Talks Housing Reform With HUD
THE NATIONAL ASSOCIATION OF REALTORS® and other industry leaders are helping the Trump Administration shape policies on housing finance reform and other critical housing issues.
NAR President-elect Charlie Oppler was among those at a recent roundtable hosted by the Department of Housing and Urban Development.
First Car-Free Neighborhood Built From Scratch Opens in 2020
By this time next year, a first-of-its-kind new neighborhood will be open in Tempe, Arizona.
It’s being called America’s first car-free community built from scratch.
A developer called “Culdesac” says the one-thousand new residents will not have private cars or parking spaces, but will have access to ride-sharing services. And visitors can drive and park there.
NAHB’s Dietz: Affordability Still Looms Large
Housing affordability remains “the fundamental challenge” in 2020, says the chief economist with the National Association of Home Builders.
Commenting in an NAHB podcast, Robert Dietz said supply is the critical number.
And Dietz says he does not foresee a recession in 2020.
Redfin Forecasts Bidding War Comeback in 2020
Bidding wars are likely to make a comeback in 2020.
So says Redfin, which is out with its housing market predictions for the new year.
What’s NOT in Redfin’s 2020 outlook is a recession, says the company’s chief economist Daryl Fairweather.
Redfin also predicts that in 2020, more cities will actively discourage the use of cars.
How Americans Shop For Furnishings
We love shopping online — but when it comes to furniture, most people still want to go to a store and sit on it before buying.
That’s one finding of a new survey by ImproveNet.
Only 26% of respondents said they shop for home furnishings online.
And what are they shopping for, in the stores?
ImproveNet says the sofa was the top item American consumers will spend more money on.
Carson Touts HUD, VA Efforts to End Veterans’ Homelessness
The Trump administration is working to eliminate homelessness among military veterans.
HUD Secretary Dr. Ben Carson said on Fox Business that his agency is working with the Veterans Administration.
Carson says the best results come when governments, nonprofits, and faith-based groups work together to find homes for veterans.
New Homes Getting Just a Bit Smaller
Newly-built single-family homes continue to get smaller. But you probably didn’t notice.
A National Association of Home Builders analysis of Census Bureau data shows that in the third quarter, the average new single-family home was 24,064 square feet. That is one square foot smaller than the second quarter, and it’s three square feet smaller than it was at the start of the year.
Supermodels’ Dad Ordered to Tear Down Megamansion
A judge in Los Angeles has ordered demolition of a half-completed mega-mansion, owned by the father of supermodels Gigi and Bella Hadid.
Mohamed Hadid’s neighbors sued him, claiming his enormous hillside project in Bel Air is an eyesore, and poses a danger to the community below it.
Neighbors claim the home was illegally built and is unstable.
Best Time to Buy a Christmas Tree to Save Money
If you have not yet bought your Christmas tree, there’s still time to get a good deal, experts say.
Research by mobile payment company Square and the National Christmas Tree Association identified the best time to buy a tree, if you’re trying to save money.
They say Christmas tree prices start off high on Black Friday, peak on Cyber Monday, then get cheaper as Christmas Day draws near.
But to get the very best price, in time for Christmas, you’ll need to wait and shop for a tree .. on December 24th.