CoreLogic: Home Prices to Moderate in Year Ahead

By Susanne Dwyer

Home prices grew at an annual rate of 7.2 percent in December 2016, rising month-over-month from November by 0.8 percent, according to CoreLogic’s recently released Home Price Index (HPI) Forecast. The Forecast projects a moderating price growth rate in the year ahead, at 4.7 percent from December 2016 to December 2017.

“As of the end of 2016, the CoreLogic national index was 3.9 percent below the peak reached in April 2006,” says Dr. Frank Nothaft, chief economist for CoreLogic. “We expect our national index to rise 4.7 percent during 2017, which would put homes prices at a new nominal peak before the end of this year.”

“Last year ended with a bang with home prices up over 7 percent nationally, led largely by major metro areas,” says Anand Nallathambi, president and CEO of CoreLogic. “We expect prices to continue to rise just under 5 percent in 2017, buoyed by lack of supply and continued high demand.”

Source: CoreLogic

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From: Consumer News and Advice

    

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Then Comes Marriage…or a House

By Susanne Dwyer

More young homebuyers today are unmarried couples—in fact, according to a recent analysis by Zillow, 15 percent of homebuyers aged 24-35 are unmarried couples, up 4 percent from 2005. The trend, says Zillow Chief Economist Dr. Svenja Gudell, is taking off due to limited affordability, compounded by out-of-reach home values.

“Buying a home is a big part of the American Dream—equally shared by millennials and baby boomers alike—but it’s becoming extremely difficult to make it work on a single income,” Gudell says.

Seventy-five percent of all homebuyers are in a relationship or married, according to Zillow, and the majority hunted for a house with a significant other.

Other studies have indicated similar shifts away from conventional milestones related to homeownership. One report reveals 25 percent of married millennial couples purchased their home together before their wedding day.

Where are unmarried couples taking the plunge? Las Vegas—coincidentally—had the highest share of unmarried homebuyers in 2015, at 23.8 percent, followed by Philadelphia at 23.4 percent and St. Louis at 19.9 percent. Portland, Ore., where home values appreciated the most in 2016 at 13.8 percent, also saw a considerable amount of unmarried homebuyers take to the market: 19.4 percent.

As more unmarried couples become homeowners, however, less singles do the same. Twenty-five percent of homebuyers aged 23-25 are single, compared to 28 percent in 2005, according to the analysis.

“Many singles looking to purchase a home on their own may not make enough money to afford or qualify for a mortgage on their dream home,” says Gudell. “That makes buying a home with a significant other even more appealing, even if marriage isn’t quite part of the picture. Simply put, buying a home is much easier with two incomes. Assuming home value growth continues to outpace income growth, I imagine this trend will continue.”

For more information, please visit www.zillow.com.

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From: Consumer News and Advice

    

Remember I am just a phone call away to help with all of your real estate needs!

Nancy Wey
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Buying a Pool Table for That New Remodel? Check Out This Spacing Guide First

By Susanne Dwyer

pooldawg-pooltable-v5-1

Pool tables are often a fixture of basement remodeling; they’re a great way for children and adults to enjoy their time. However, installing these tables may not be as easy as one would think. Imagine finishing your basement remodel and realizing your spacing is off and you don’t have enough room to play. It’s a nightmare that happens far too often.

Below we’ve placed a guide, put together by PoolDawg, which informs people of exactly how much space they’ll need in order to properly use their pool table. Logically, these measurements may change slightly from person to person depending on stance, height and comfort level.

Check it out:

Proper Pool Table Spacing created by PoolDawg

This was originally published on RISMedia’s blog, Housecall. Visit the blog daily for housing and real estate tips and trends. Like Housecall on Facebook and follow @HousecallBlog on Twitter.

The post Buying a Pool Table for That New Remodel? Check Out This Spacing Guide First appeared first on RISMedia.

From: Home Spun Wisdom

    

Remember I am just a phone call away to help with all of your real estate needs!

Nancy Wey
281-455-2893