Sunday, 08 December, 2019

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Category: CNBC Real Estate

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Homebuilders aren’t building enough for millennials That generation is expected to be the largest single cohort of homebuyers next year, but the nation’s homebuilders are not keeping up. This is already exacerbating the shortage of homes for sale and for rent nationwide, but will especially hurt affordability for millennials (those born between 1981 and 1997). While the majority of both Read more…


CNBC’s Diana Olick reports on a surprising downbeat forecast for the 2020 housing market from one of the largest names in real estate. Tom Farley, chairman and CEO of Far Point and former NYSE president, and Joe Terranova, senior managing director for Virtus Investment Partners, join “Squawk Box” to discuss. 01:58 Wed, Dec 4 20197:32 AM EST


A home for sale is seen in Santa Monica, California. Lucy Nicholson | Reuters The combination of a holiday week and a stagnant mortgage rate environment kept borrowers away from their lenders last week. Mortgage application volume decreased 9.2% from the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. The week’s results also include an adjustment for Read more…


A pending sale sign in front of a home in Miami. Getty Images Demand for housing is high, but there aren’t enough homes for sale to meet it. Pending home sales, which measure signed contracts, fell 1.7% in October month-to-month, according to the National Association of Realtors. Sales were 4.4% higher annually, likely because mortgage rates are much lower this Read more…


CNBC’s Diana Olick joins “Squawk Box” with the latest mortgage application numbers.


A prospective home buyer is shown a home by a real estate agent in Coral Gables, Florida. Joe Raedle | Getty Images After shrinking for much of this year, home price gains are now growing again. On a national level, prices rose 3.2% annually in September, up from a 3.1% gain in August, according to the S&P CoreLogic Case-Shiller U.S. Read more…


The supply of homes for sale is falling across the nation, as demand soars and attractive mortgage rates pull buyers off the sidelines. At the end of October, inventory nationwide fell to a 3.9-month supply, according to the National Association of Realtors. The means that at the current sales pace it would take that long to sell all of the Read more…


Zillow’s house-flipping business is a launch pad into further transforming the homebuying experience, CEO Richard Barton told CNBC. “We dream one day of you having an almost trade-in experience with your house,” Barton said in an interview that ran on “Closing Bell” on Thursday. Zillow’s ambitions stem from the fact that all industries have been ensnared in the ongoing technological Read more…


A prospective home buyer, left, is shown a  home by a real estate agent in Coral Gables, Florida. Getty Images After a huge jump the week before, mortgage refinance demand pulled back sharply last week, likely because borrowers were less worried about rising rates. That caused total mortgage application volume to decline 2.2% for the week, according to the Mortgage Read more…


A for rent sign advertising a row house in northeast Capitol Hill, is pictured on Monday, August 26, 2019, in Washington D.C. Tom Williams | CQ-Roll Call, Inc. | Getty Images Anyone out shopping for an entry-level home knows the prices are high and the pickings are slim. Now, the same is holding true for rentals. As more Americans find Read more…


‘Tis the season to be jolly. Yet, stress is the prevailing emotion. The vast majority, or roughly 70%, of adults are stressed about the upcoming holiday season, mostly thanks to money woes, according to a survey from Country Financial. If money were no object, half of those surveyed said that having one of their debts, such as their mortgage, credit Read more…


It’s unlikely for Hong Kong to go back to “normal,” but from a business point of view, it’s unlikely that the unrest in Hong Kong will undermine the long-term future for the city as an offshore business center for China, says Clive McDonnell of Standard Chartered Private Bank. He also says he’s “comfortable” with buying good-quality Hong Kong stocks on Read more…


A PulteGroup housing development in San Jose, California. David Paul Morris | Bloomberg | Getty Images The nation’s single-family homebuilders are feeling very positive about their business, but a monthly sentiment indicator fell in November from a recent high. The national association of Home Builders/Wells Fargo Housing Market Index (HMI) fell 1 point to 70, after rising steadily since June Read more…


If you’re hoping to snag the best-available terms on a loan, a standard rule of thumb about credit card usage could end up messing with your plans. The common advice is to keep revolving debt below 30% of your available credit so your utilization rate doesn’t hurt your credit score. Yet experts say your FICO score — which most lenders Read more…


A realtor, at right, shows prospective buyers a property in Newport Beach, California. Jamie Rector | Bloomberg | Getty Images Competition in the fall housing market is falling. Just 10% of offers written by Redfin agents for their clients in October faced a bidding war, down from 39% a year ago, according to the Seattle-based real estate brokerage. Mortgage rates Read more…