Liberty Bell Real Estate Agents: Scot B. Mentzer

Liberty Bell Real Estate Agents: Scot B. Mentzer updated their business hours.

Liberty Bell Real Estate Agents: Scot B. Mentzer updated their address.

Mortgage delinquencies continued their downward trajectory in September according to new data from CoreLogic.

The firm’s monthly Loan Performance Insights Report shows that the nationally 3.8% of mortgages were at some stage of delinquency (30 days or more past due including those in foreclosure); that’s 0.6 percentage point decline from a year earlier.

These 5 states led annual declines in the delinquency rate These 5 states led annual declines in the delinquency rate

Parents want their children to own their own homes and will help them financially to achieve that goal.

A survey by home co-investing firm Unison has found that 79% of parent homeowners believe its important for their child/children to own a home and 18% of those with a millennial child has already helped them to become homeowners.

Bank of Mom and Dad is open for most homebuyers Almost 8 in 10 parents say it’s important for their children to own their own home

There’s good news and bad news for the large cohort of millennials who are now at peak homebuying age.

On the plus side, the US counties with the highest concentration of millennials account for most of the country’s single-family and multifamily housing production.

Homebuilding is focused on millennials but the pace is too slow Supply is growing slower in counties with the highest millennial concentration

More than 20 million homes will hit the market over the next 20 years as aging baby boomers die or vacate their houses, according to a new report from Zillow.

Housing inventory has been tight for a decade, largely because builders have faced rising costs for labor and materials. However, about a third of America’s homes are currently owned by people aged 60 or older.

‘Silver Tsunami’ to flood housing market over next 20 years – Zillow With aging baby boomers owning a third of America’s homes, a flood of inventory is set to hit the market in the coming years

Low interest rates have boosted the number of homeowners refinancing and led to a 134% year-over-year surge in prepays.

Black Knight has published its ‘First Look’ mortgage performance data for October which shows a monthly prepayment rate of 1.81%, up 16.41% from September and the highest level since May 2013.

Prepayment activity at highest level in 6+ years says Black Knight 'First look' mortgage data shows delinquencies within 0.03% of the record low

Existing home sales gained 1.9% month-over-month in October to a seasonally adjusted annual rate of 5.46 million.

Sales were up 4.6% year-over-year according to data from the National Association of Realtors, although some regions continue to do better than some others.

Existing home sales increased last month but can supply keep up?

Americans considering buying a vacation home rank one thing as the most important amenity.

And according to a new analysis from global real estate firm Savills and vacation home booking service Vrbo®, this amenity is also the most important for travellers when renting a vacation home.

Vacation home owners have one very modern demand And it has nothing to views, location, or even price

Small towns often mean lower housing costs, a safer community, and a better quality of life. Want to buy a house in one of these idyllic spots? Then according to a new ranking, you’ll want to head to Kansas.

Is the small town life for you? Here’s where you should head A small town often means lower housing costs and a better quality of life. Want to buy a house in one of these idyllic spots? Then head to Kansas.

Tight supply of available homes in America’s metro areas pushed prices higher in 93% of measured markets in the third quarter according to the National Association of Realtors.

Its quarterly report reveals that 166 of the 178 metropolitan areas showed price gains with the national median price for existing single-family homes reaching $280,200 (up 5.1% year-over-year).

NAR: Price gains for most metros in the third quarter Very limited inventory pushed single-family home prices higher in 93% of metros

American consumers are feeling confident in their finances according to the Money Anxiety Index.

The index recorded a decline of 2.6 points quarter-over-quarter in the third quarter of 2019. The index measures actual financial behavior and shows that in the same period consumer spending increased 2.9%.

American consumers are feeling confident right now Money Anxiety Index resilient as consumers increased their spending in Q3

Weak home sales in the third quarter saw a record number of homes for sale in New York City.

The stats from Zillow-owned home marketplace StreetEasy reveals inventory reached a record high in Brooklyn and Queens and jumped to near-highs in Manhattan in Q3 2019.

New York City has never had so many homes for sale Sales inventory reaches new record but sellers are unwilling to cut prices

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The number of mortgage applications made in September that were for the purchase of new homes jumped 34.2% compared to a year earlier.

But applications were down 8% month-over-month according to data from the Mortgage Bankers Association’s Builder Application Survey. MBA estimates new home sales were running at a seasonally adjusted annual rate of 725,000 units, down 7.6% from the August pace.

New home purchase mortgage applications down last month

Home sales across the US in September posted their best year-over-year gain since November 2016.

The 8.1% increase in sales was widespread according to the RE/MAX National Housing Report with 47 of the 54 markets covered posting gains, however that led to a 6.1% decrease in inventory, the largest decrease in more than a year and the third month of decreases.

RE/MAX chief says housing market outlook looks positive

Consumers are showing an elevated level of confidence in their finances and the economy, which should help support the US housing market.

The LegalShield Law Index ranks consumer and business sentiment based on demand for legal services.

Consumers are feeling good about their finances Confidence is high, financial stress is low and that’s good for the housing market

The cost-burden rate is on the rise
The share of renters who are cost-burdened has hit its highest rate in five years. According to new data, a whopping 49.7 percent of American renters are either moderately or severely burdened by their housing costs.

Renters are burdened by their housing costs, study shows According to new data, the share of renters who are burdened by their housing costs has hit its highest rate in five years.

Selling a home can be a stressful experience, as detailed in a new report.

The Zillow Group Consumer Housing Trend Report has revealed that 95% of home sellers found at least some aspect of the selling process stressful but it’s not the most obvious elements that create the most concern.

What’s stressing home sellers the most? Zillow research identifies the things that cause the most concern

There was a slight increase in the availability of mortgage credit in September but this was not an across-the-board rise.

Overall, lending conditions loosened with the Mortgage Bankers Association’s Mortgage Credit Availability Index rising 0.9% to 183.4 (it was benchmarked at 100 in September 2012).

Mortgage credit availability increased last month

America’s population is aging and the US Census Bureau estimates that 20% of people will be 65 or older by 2035 – more seniors than kids.

The data also shows that there will be 20 million Americans aged at least 80.

The best cities and states for senior living in 2019 New report ranks markets as US seniors population continues rising

Rents are moving but while some of the hottest markets are becoming less expensive for renters, those that were more affordable are taking a bigger bite out of paychecks.

A report from HotPads shows that US median rent has increased by an 3.2% year-over-year to $1,560 a month. That growth is in line with the last 6 months following a period of faster growth since the middle of 2018.

The two ends of the rental market are meeting in the middle Hottest market rents are cooling as more affordable markets get pricier

August brought out potential homebuyers according to a measure of showing activity.

The ShowingTime Showing Index posted its first nationwide gain year-over-year in more than a year, with a 3.5% increase. It was also the first time since January 2018 that all four regions posted increased activity.

Showing traffic up for the first time in more than a year Proprietary measure of showing activity is further sign of stronger market

The lower cost of mortgages is fueling sales of existing homes according to the National Association of Realtors’ latest stats.

Existing sales in August gained 1.3% from July to a seasonally adjusted annual rate of 5.49 million, 2.6% higher than a year earlier. Sales were higher in the Northeast, South, and Midwest but lower in the West.

Existing sales higher as 3 of the 4 major regions posted gains Falling mortgage rates are helping drive sales

The familiar story of home sales pressured by lack of available homes was evident in August.

The RE/MAX National Housing Report shows a 1.6% decline in sales year-over-year and a decline of 4.2% month-over-month as demand exceeded new listings and inventory contracted to 2.8 months of supply.

Home sales slipped in August amid tightening supply says RE/MAX Inventory was down by the largest percentage in 13 months

There was an increase in mortgage applications last week as both purchasers and refinancers enjoyed lower rates.

The Mortgage Bankers Association’s Market Composite Index, compiled from its Weekly Mortgage Applications Survey, shows that overall activity edged up 2% week-over-week on an adjusted basis, including adjustment for the Labor Day holiday.

Mortgage applications up slightly as purchases rates head lower Refinance and purchase applications both posted solid results

The US housing market is seeing some signs of rising affordability, but it comes at a time when buyers are getting more concern about the economy.

The August 2019 housing trends report from realtor.com highlights the first decline in inventory in a year but prices are easing due to economic fears.

Housing market is a "tug of war" of affordability and economic fear Housing inventory lower for the first time in a year says realtor.com