Richard Stein – Realtor®, Douglas Elliman, GREEN, SFR, CBR, eCertified®

Local Agent, Worldwide Marketing – Douglas Elliman Real Estate formerly Prudential Douglas Elliman Real Estate

1 in 4 Homeowners Are Now ‘Equity Rich’

Rising home prices are helping homeowners get richer and richer. Equity-rich properties represented 25.7 percent—or nearly 14.5 million—of U.S. properties in the third quarter, a record high, ATTOM Data Solutions, a real estate research firm, reports. “Equity-rich” means the combined estimated amount of loans secured by the property was 50 percent or less of the property’s estimated market value.

“As homeowners stay put longer, they continue to build more equity in their homes, despite the recent slowing in rates of home price appreciation,” says Daren Blomquist, senior vice president with ATTOM Data Solutions. “West Coast markets along with New York have the highest share of equity-rich homeowners, while markets in the Mississippi Valley and Rust Belt continue to have stubbornly high rates of seriously underwater homeowners when it comes to home equity.”

The following metros had the highest share of equity-rich properties in the third quarter:

  • San Jose, Calif.: 73.9%
  • San Francisco: 59.8%
  • Los Angeles: 47.6%
  • Seattle: 41.2%
  • Honolulu: 40.8%

 


 

Source: 

U.S. Housing Construction Fell in September, Continuing Weak Stretch

Broader trend shows continued construction growth, as starts grew by 6.4% in the first nine months of 2018 compared with the same period a year earlier

 
 
Contractors build wall frames during construction of a new home in Walnut, Ill., in August.
Contractors build wall frames during construction of a new home in Walnut, Ill., in August.PHOTO: DANIEL ACKER/BLOOMBERG NEWS
 

 

WASHINGTON—Housing construction fell last month, continuing a weak stretch for the housing market driven by rising borrowing costs and expensive properties that are out of reach for most Americans.

Building declined 5.3% in September from the prior month, according to the Commerce Department’s latest housing report. Building permits, which can signal……..

FULL STORY AT THE WALL STREET JOURNAL

Mortgage applications fall to 4-year low as homebuyers exit housing market

Janna Herron, USA TODAY

 

If you don’t automatically think of a booming housing market when you think of Boise, Idaho, think again. USA TODAY

Many potential homebuyers are sitting out the housing market.

The volume of mortgage applications last week fell to the lowest level since December 2014, according to a new report from the Mortgage Bankers Association, providing another sign the housing market is slowing. 

The decline was led by a ……………………….

FULL STORY AT USA TODAY

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