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Home Sales to Hit Highest Level Since 2006, Realtor Group Says

Industry News, Market Update, National

Home Sales to Hit Highest Level Since 2006, Realtor Group Says By Laura Kusisto Existing homes sales this year are expected to hit levels not seen since just after the peak, in 2006, driven by strong job growth, low interest rates and a gradual loosening of lending standards, according to the National Association of Realtors…. Read more

Applications For New Home Purchases Increased In March

WASHINGTON, D.C. (April 9, 2015) – The Mortgage Bankers Association (MBA) Builder Application Survey (BAS) data for March 2015 shows mortgage applications for new home purchases increased by 17 percent relative to the previous month. This change does not include any adjustment for typical seasonal patterns. “Overall, applications for new home purchases during the first quarter… Read more

Commercial Sector Moves From Recovery To Expansion

TEMPE, Arizona (April 8, 2015) — The professionals who are closest to commercial real estate in Phoenix say that the market is now in expansion and are confident that the expansion will continue, according to the fifth Commercial Real Estate Survey from the Center for Real Estate Theory and Practice at the W. P. Carey… Read more

U.S. New Home Sales Reach Highest Level in Seven Years

Sales of newly built single-family homes increased 7.8% in February to annual rate of 539,000 By: JEFFREY SPARSHOTT and KRIS HUDSON   WASHINGTON—New-home sales rose to the highest level in seven years in February, a sign of strong demand that could help boost the broader U.S. housing market. Sales of newly built single-family homes increased 7.8%… Read more

Arizona Passes Law Eliminating Appraisal Board

Arizona Gov. Doug Ducey on March 12 signed into law SB 1480, legislation that eliminates the Arizona Board of Appraisal effective July 1. The ABOA’s administrative functions will be reassigned to the Department of Financial Institutions. This provision was included in the state’s FY 2016 budget that passed the legislature March 7. Arizona will join… Read more

‘Domino Effect’ to Set Off 2015 Housing Wave

Home prices between the top and bottom segments of the housing market are rising, which could unleash a “domino effect” that builds first-time and move-up buyer momentum this year, notes a new real estate report by Clear Capital. But the build up in traditional home buyers is coming at the cost of declines in the… Read more

Housing Starts Reach Six-Year Highs

Industry News

Housing starts for single-family homes surged to the highest level in more than six-and-a-half years, a promising sign at the end of 2014, the Commerce Department reported Wednesday. Measuring Sentiment:Homebuilders Remain Cautiously Confident “The last piece of the economic puzzle is starting to come together now as housing construction is coming back. The housing market… Read more

Phoenix named hot housing market to watch in 2015

Industry News

Metro Phoenix is one of the U.S.’s “10 hottest housing markets to watch in 2015,” according to a new Realtor.com report. The real estate website’s chief economist, Jonathan Smoke, said Phoenix’s potential for income growth and new-home construction landed it on the list. “Phoenix consistently hammers home market growth through new construction. The sprawling desert… Read more

FAA clears first real estate agent to use drone for property shoots

Industry News

Realtor must have private pilot certificate and observer for each flight The Federal Aviation Administration has authorized a real estate agent to capture photography of listings with a drone for the first time, offering a glimmer of hope to those seeking to use drones to market properties without facing potential penalties from the regulatory agency. The exemption… Read more

Forget stocks, this year’s hottest trade has been…. real estate

National

It’s been blowing away stocks so far this year as interest rates dropped. Does that mean now is the time to put your money in… real estate? Specifically, real estate investment trust (REITs). The benchmark MSCI REIT index is down 3 percent in the past week as bonds have sold off. But, the index is… Read more

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