Hot Markets, Mortgages and a She ShedApril 3, 2017
Housing news 3.31.2017
This week in housing news you can use, the prez tries to boost inventory, 20 markets are hotter than ever, mortgage apps go up and mom runs away to her She Shed.
Will the president’s executive order boost housing starts?
Home builder confidence surged to a 12-year high after the president’s executive order on regulatory reform, designed to bring relief to the drought in housing inventory. A new report by Capital Economics explains the order, hurdles to overcome, and its possible outcomes.
America’s 20 hottest real estate markets
Realtor.com analyzed March 2017 U.S. data to show that spring real estate is roaring, with homes expected to go faster (22 days on market) than last month (69 days). That’s an average of 8 days faster than last year.
|Rank (March)||20 Hottest Markets||Rank (February)||Rank Change|
|2||San Francisco, CA||2||0|
|5||San Jose, CA||5||0|
|7||Colorado Springs, CO||9||2|
|8||San Diego, CA||6||-2|
|9||Santa Cruz, CA||24||15|
|11||Santa Rosa, CA||19||8|
|14||Fort Wayne, IN||26||12|
|15||Grand Rapids, MI||34||19|
|17||Ann Arbor, MI||22||5|
Mortgage applications soar as borrowers rush to lock in rates
Rates moved up from 4.36 to 4.46 percent in March. This relatively low increase spurred a 3.1 percent increase in total mortgage applications. As buyers anticipate future increases, they’re eager to lock in rates, according to the Mortgage Bankers Association.
Source: NBC News
Get yourself a getaway She Shed
Just in time for April fooligans, Life Storage promoted a tongue-in-cheek “She Shed” concept for moms trying to get a few moments of peace. Actually, that’s not a bad idea… well, ok, maybe just build one in your backyard.
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