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Tag Archives: Demand

Fed Survey: Prime Loan Standards Mostly Unmoved

A newly released survey of senior loan officers around the country finds credit standards remained largely the same on basic prime mortgage products over the latest quarter, while demand came in weaker. On the topic of subprime loans: On net, the handful of banks offering such products reported tightening, though more than half still said standards changed little.

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Best Housing Deals Now in the Mid-Tier Market

As home price growth continues to moderate to a more sustainable pace, real estate data provider Clear Capital sees another promising trend forming: The mid-tier housing sector now has the best deals for buyers, hopefully drawing more interest to the market’s largest segment. Dr. Alex Villacorta, VP and chief economist for Clear Capital, says the shift reflects how market drivers have had an impact on each tier of housing.

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Market Speeds Up in March

Homes continue to fly off the market at a quick pace, according to March data released by Redfin. In March, across the 20 metros measured by Redfin, median days on the market fell by more than a week to 32 days, dropping from 40 days in February. Compared to last year's figure of 35, homes are selling three days faster on average. The company's analysis found that 29.8 percent of homes went under contract within two weeks of being listed.

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Poll: One in Four Homeowners Feel Buyer’s Remorse

Out of a poll of more than 2,000 homeowners, Redfin found an even 25 percent would not buy their current home if they had a chance to do it over. Most of the dissatisfaction came from younger people and stemmed from their relationship with the real estate agent, suggesting a generational divide. Not surprisingly, the group with the least buyer’s remorse were those over 65.

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Warm Weather Ignites Greater Competition for Homes

In March, 63.4 percent of offers written by Redfin agents across 19 markets faced competition from other buyers, the national brokerage reported. While that percentage is up a few points from February—owing in some part to more favorable weather—it’s a full 10 percentage points down compared to March 2013.

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Fed Districts Report Economic Growth as Weather Clears

Reports from the Federal Reserve’s 12 districts indicate economic activity has increased in most regions across the country since the end of February as the unusually harsh winter came to an end. According to the most recent update, eight districts—Boston, Philadelphia, Richmond, Atlanta, Minneapolis, Kansas City, Dallas, and San Francisco—characterized their economic expansion from March to April as “modest or moderate.”

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Asking Prices Up 10.0% Year-on-Year; Urban Areas Lead

Trulia found that month-to-month asking prices nationally in urban markets rose 1.2 percent in March. Quarter-to-quarter, prices rose 2.9 percent in March, reflecting three straight months of solid month-over-month gains. Both calculations were seasonally adjusted. More encouraging is that asking prices are up a full 10 percent since last year, rising in 97 of the 100 largest metros.

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Spring Brings Renewed Demand for Homes

According to Redfin’s latest Real-Time Demand Pulse—a monthly analysis of tour and offer activity across 23 U.S. markets—homebuyer demand bounced back in March, showing promise after months of little activity. While the pickup in buyer interest bodes well for the spring and summer seasons, Redfin analyst Ellen Haberle noted March's data should be taken with a grain of salt.

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Agents Predict Competitive Spring Season for Buyers

A survey released by Redfin showed that nearly half the company's Northeast agents and about 40 percent of its Midwest agents believe competition among buyers will be far more fierce this spring. The bedrock of these beliefs lies in a combination of low inventory and an end to the winter hibernation among potential buyers in areas hit hard by the 2013-14 winter.

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Report: Buyer/Seller Balance a Matter of East vs. West

A look at buyers' and sellers' markets around the country from Zillow shows that the better job market in the West is drawing more buyers and driving up competition for homes in more economically stable cities, thus giving sellers the upper hand in home sales negotiations in western metro areas. Meanwhile, leverage for buyers is strongest in cities in the East and Midwest, where less competition for homes will likely give them more room for bargaining on prices.

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