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Author Archives: Scott_Morgan

Scott Morgan is a multi-award-winning journalist and editor based out of Texas. During his 11 years as a newspaper journalist, he wrote more than 4,000 published pieces. He's been recognized for his work since 2001, and his creative writing continues to win acclaim from readers and fellow writers alike. He is also a creative writing teacher and the author of several books, from short fiction to written works about writing.

Pending Home Sales Dip in October

NAR reported Wednesday that contract signings nationally decreased 1.1 percent last month, though they were still up 2.2 percent compared to last October. Despite the monthly drop, Lawrence Yun, NAR's chief economist, said that contract signings have remained at a healthy pace now for six straight months.

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Median U.S. Home Price Hits Six-Year High

According to RealtyTrac, the median price of single-family homes and condos rose 2 percent to $193,000 nationwide in October. This is their highest level since the beginning of the recession in September 2008. That's also a rise of 16 percent from a year ago, though it's still 19 percent below the median peak of $237,537 that occurred in August 2006.

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Falling Mortgage Rates Not Enough to Lure New Homebuyers

Despite the fact that 30-year fixed mortgage rates dipped below 4 percent in October, the number of buyers looking to tour homes cooled off. At the same time, the rate drop triggered a hefty increase in signings last month, according to Redfin, which released its latest look at homebuying activity on Friday.

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Home Price Changes Turn Negative After Long Climb

FNC's Residential Price Index dropped 0.3 percent in September, despite strong home sales and continued improvement in the labor market. It was the first time in 30 months that values did not rise, though home prices in the third quarter overall were up 1.8 percent over the second quarter.

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Housing Markets Inch Closer to Recovery

For months, NAHB has been reporting that recovery in the national and in most metro markets is inching its way back to normal levels. The latest report virtually mirrors the LMI report released in August, which stated that 56 of 350 metros were at or better than normal, and the national housing market overall was 89 percent of where it should be.

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More Refinancers Tapping into Home Equity

As home equity grows, more Americans are tapping into that equity more often when refinancing their homes, according to the latest quarterly refinance analysis report from Freddie Mac. In fact, the share of borrowers tapping their equity by cashing out at the time of refinancing has doubled from the same quarter last year as house price appreciation has risen across the country.

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September Home Sales Beat 2013 Figure

Though September home sales were down 10.4 percent from August—an expected seasonal trend—September is the first month in 2014 in which home sales exceeded those one year prior, according to the latest National Housing Report from RE/MAX. The firm found that home sales last month were 0.9 percent higher than in September 2013, which is no small feat, considering that 2013 was marked by double-digit growth in home sales nationwide.

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Report: Buying a Home 38% Cheaper than Renting

Buying a home is still cheaper than renting in most markets across the country, and even cheaper than a year ago, according to the latest Rent vs. Buy report from Trulia. According to Trulia, when the purchase includes 20 percent down and a fixed 30-year mortgage, buying is 38 percent cheaper than renting.

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Report Maps Top Markets for Price Appreciation

According to the latest market forecast from Veros Real Estate Solutions, released Thursday, 83 percent of American homes are appreciating, especially in markets west of the Mississippi. In fact, the top 25 markets are west of the river. In contrast, 24 of the weakest 25 markets are east of it.

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Barometer: Housing, Economy Caught in ‘Unvirtuous’ Cycle

According to the latest Trulia Housing Barometer, while home prices, sales, and delinquency rates are all most of the way back to normal, new construction starts and a poor employment rate among young adults are snagging full economic recovery. However, all five indicators have improved year-over-year, if slightly in some areas.

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