#realestatemarketnews

[realestatemarathonpodcast]

Need 3 reasons to start investing in real estate? Freedom, freedom, and freedom. Achieving your financial goals is a simple as starting now. #realestatemarathonpodcast #realestatepodcast #realestatemarketnews #investmentadvice #financialfreedom http://bit.ly/2HvLHiV https://www.instagram.com/p/B-cv7NWH463/?igshid=graoekzz4gp7

[prestigerealestate-blog1]

India emerges as Dubai’s second-largest investor in FDI capital

Investment flows from India to Dubai reach Dh6.12 billion in three yearsTo know more about the current updated news.Visit - https://prestigedubai.com/blog/Content and Image Source fromhttps://bit.ly/2VVBYbE

[philadelphiarealestate]

Inventory of Homes for Sale Soars 10% in February from a Year Ago

Rising home prices are strengthening seller confidence, fueling rapid growth in the number of homes for sale in many markets in February, according to a report issued by Realtor.com. Median list prices were up 7.6% from a year ago in February, to $199,000, and the inventory of homes for sale rose 10.1% to 1.74 million. In other words, there were 160,000 more homes for sale than the same time a year ago. Out of 146 markets tracked by Realtor.com, 99 experienced annual growth in listings, with 63 of those markets seeing inventories swell by 10% or more. Median list prices and inventory were up on a month-over-month basis as well, rising 2.1% and 4.3% respectively, indicating that 2014 home sales, which got off to a slow start in January, have potential to grow as the spring buying season gets underway. But even with the recent surge in listings, inventories “are still extremely low,” Realtor.com said in summarizing the overall picture. “Seller confidence is the factor to watch as we head into the spring home buying season, and these are very encouraging indicators — not only are more homes coming onto the market, but typically we don’t see a rise in asking prices this early into the year,” said Steve Berkowitz, CEO of Realtor.com operator Move Inc., in a statement. “This is the market these sellers have been waiting for.” Homes in Realtor.com’s database include 90% of all homes listed in U.S. multiple listing services. According to Realtor.com, the homes it was tracking in February had been on the market for a median of 114 days, up 6.5% from a year ago but down 0.9% from January. Markets that saw the largest percentage drops in inventory from February 2013 to February 2014 were largely found in the middle of the country. Inman News

[prestigerealestate-blog1]

Dubai has now become more of an ‘affordable buyers market’

To know more about the current updated news.Visit - https://prestigedubai.com/blog/Content and Image Source fromhttps://bit.ly/2QTOPaB

[prestigerealestate-blog1]

Ready-to-move-in homes gain in popularity in Dubai

To know more about the current updated news.Visit - https://prestigedubai.com/blog/Content and Image Source fromhttps://bit.ly/2FmAfpN

[prestigerealestate-blog1]

Dubai More Affordable Than 216 Cities

To know more about the current updated news.Visit - https://prestigedubai.com/blog/Content and Image Source fromhttps://www.albawaba.com/business/dubai-more-affordable-216-cities-1238354

[prestigerealestate-blog1]

Will government initiatives boost UAE property market?

To know more about the current updated news.Visit - https://prestigedubai.com/blog/Content and Image Source fromhttps://www.khaleejtimes.com/business/real-estate/will-government-initiatives-boost-uae-property-market

[prestigerealestate-blog1]

Dubai sees real estate deals worth Dh19 billion in the last 10 days Dubai's real estate market recorded a high transaction volume during the last 10 days of 2018, with a value of over Dh19 billion through 2,081 transactions. Content and image source – https://www.khaleejtimes.com/business/real-estate/dubai-sees-real-estate-deals-worth-dh19-billion-in-last-10-days To Know more about Current Real Estate Market Update. Visit - Prestige Real Estate

[prestigerealestate-blog1]

‘Ready’ homes tilt the balance in Dubai’s property market

Small down-payments and take-possession-now schemes impact on rents and even off-plan prices

Content and image source – https://gulfnews.com/business/property/ready-homes-tilt-the-balance-in-dubais-property-market-1.2284766

To Know more about Current Real Estate Market Update. Visit - Prestige Real Estate 

[prestigerealestate-blog1]

https://prestigedubai.com/blog/https://www.arabianbusiness.com/news/387172-dubai-reveals-plan-to-launch-new-real-estate-festival?utm_source=Jarvis&utm_medium=arabianbusiness.com&utm_campaign=recommendedDubai reveals the plan to launch a new real estate festival Dubai Land Department says three-day event in April aims to attract more investment into the UAE Content and image source – https://www.arabianbusiness.com/news/387172-dubai-reveals-plan-to-launch-new-real-estate-festival?utm_source=Jarvis&utm_medium=arabianbusiness.com&utm_campaign=recommended To Know more about Current Real Estate Market Update. Visit - Prestige Real Estate

[prestigerealestate-blog1]

Dubai approves 2019 budget with higher Expo 2020 infra spend

Dubai Government has approved a budget for 2019 foreseeing expenditure of $15.5 billion (AED56.8bn).

Content and image source – https://www.arabianbusiness.com/politics-economics/410557-dubai-approves-2019-budget-with-higher-expo-2020-infra-spend

To Know more about Current Real Estate Market Update. Visit - Prestige Real Estate

[prestigerealestate-blog1]

UAE begins implementing new 100% ownership, 10-year visa for expats

The UAE cabinet has begun the implementation of 100% foreign ownership and 10-year residency visas for expats, investors and businesspeople.

Content and image source – https://www.arabianbusiness.com/politics-economics/410580-uae-begins-implementing-new-100-ownership-10-year-visa-for-expats

To Know more about Current Real Estate Market Update. Visit - Prestige Real Estate

[philadelphiarealestate]

Philadelphia Area Second Best Market in the Country for Home Buyers

If you’re looking to buy a home, Philly might be the place for you: Zillow.com released their list of the 10 best markets for home sellers and 10 best markets for home buyers - Philadelphia ranked second on their list of best buyers’ markets. “Top buyers’ markets tend to have lots of inventory, steep price cuts and homes that linger on the market,” said Cory Hopkins of Zillow.com. “Top sellers’ markets tend to have low inventory, homes that are selling for more than the asking price and a quick turnover. Zillow analyzed data on sale-to-list price ratio, number of days listings spent on Zillow and percent of homes on the market with a price cut, and ranked the cities within your metro relative to one another.” Zillow also calculated that the median estimated home value for the Philadelphia area on a given day was $193,000 for the month of February, up 2.4% from February 2013. Nationally, the median estimated home value was $169,200 in February, up 5.6% from February, 2013. Hopkins also says the values for homes in the Philly metro area are expected to rise another 1.3% over the next 12 months. Dr. Stan Humphries, the chief economist for Zillow, says their latest report shows that the West Coast may be better for sellers and the East Coast better for buyers. “The real estate data in markets on both coasts are telling markedly different stories,” Humphries said. “Relatively strong job markets in the West are helping spur robust demand, which is being met with limited supply, causing rapid home value appreciation and giving sellers an edge. In the East, housing markets are appreciating a bit more slowly, and homes are staying on the market longer, which helps give buyers the upper hand.”

[philadelphiarealestate]

Home Values Expected to Rise Through 2018

A majority of more than 100 forecasters says they expect large-scale investors to sell off the bulk of homes in their portfolios in the next three to five years, boosting inventory and potentially contributing to a smoother market ahead, according to the latest Zillow Home Price Expectations Survey. On average, they expected nationwide home value appreciation of 4.5% this year, with a steady slowdown in appreciation rates each year through 2018. The survey of 110 economists, real estate experts and investment and market strategists asked panelists to predict the path of the U.S. Zillow Home Value Index through 2018 and solicited opinions on investor activity and federal monetary policy. Throughout the recovery, large-scale investors have purchased thousands of homes nationwide, particularly lower-priced vacant and foreclosed homes, fixing them up and keeping them in their portfolios as rental properties. This investor activity helped put a floor under sales volumes during the depth of the housing recession, but also created competition for many would-be buyers and contributed to rapid price spikes in some areas. "Real estate investors, both large and small, played a crucial role in helping to stabilize markets during the darkest days of the housing recession, but a decline in investor activity now isn't necessarily a bad thing, and could have real benefits for buyers," says Zillow Chief Economist Dr. Stan Humphries. "Buyers entering the market in the next few months will not be competing with cash-rich investors like they were last year which should be some small solace given the higher prices and mortgage rates that they will encounter. The gradual decline of investor activity should be viewed as another sign of the market slowly returning to normal, and I agree with the panel's expectations that there will not be a rush for the exit by institutional investors." On average, they expect nationwide home value appreciation of 4.5% through the end of this year, a pace that exceeds historically normal annual appreciation rates of around 3%. This appreciation is expected to slow to roughly 3.8% in 2015 and 3.3% by 2018, rates much more in line with historic norms. Based on current expectations for home value appreciation during the next five years, panelists predicted that overall U.S. home values could exceed their April 2007 peak by the first quarter of 2018, and may cross the $200,000 threshold by the third quarter of 2018. The most optimistic group of panelists predicted a 5.6% annual increase in home values this year, on average, while the most pessimistic predicted an average increase of 3.4%. The most optimistic panelists predicted home values would rise roughly 10.6% above their 2007 peaks by the end of 2018 on average, while the most pessimistic says they expected home values to remain about 4.5% below 2007 peaks.

[philadelphiarealestate]

December Existing Home Sales Rise, Strongest in Seven Years

Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, increased 1% to a seasonally adjusted annual rate of 4.87 million in December from a downwardly revised 4.82 million in November, but are 0.6% below the 4.90 million-unit level in December 2012. For all of 2013, there were 5.09 million sales, which is 9.1% higher than 2012. It was the strongest performance since 2006 when sales reached an unsustainably high 6.48 million at the close of the housing boom. Lawrence Yun, NAR chief economist, said housing has experienced a healthy recovery over the past two years. “Existing-home sales have risen nearly 20% since 2011, with job growth, record low mortgage interest rates and a large pent-up demand driving the market,” he said. “We lost some momentum toward the end of 2013 from disappointing job growth and limited inventory, but we ended with a year that was close to normal given the size of our population.” The national median existing-home price for all of 2013 was $197,100, which is 11.5% above the 2012 median of $176,800, and was the strongest gain since 2005 when it rose 12.4%. The median existing-home price for all housing types in December was $198,000, up 9.9% from December 2012. Total housing inventory at the end of December fell 9.3% to 1.86 million existing homes available for sale, which represents a 4.6-month supply at the current sales pace, down from 5.1 months in November. Unsold inventory is 1.6% above a year ago, when there was a 4.5-month supply. The median time on market for all homes was 72 days in December, up sharply from 56 days in November, but slightly below the 73 days on market in December 2012. Adverse weather reportedly delayed closings in many areas. 28% of homes sold in December were on the market for less than a month, down from 35% in November, which appears to be a weather impact. According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage rose to 4.46% in December from 4.26% in November - the rate was 3.35% in December 2012. NAR President Steve Brown said that with jobs expected to improve this year, sales should hold even despite rising home prices and higher mortgage interest rates. “The only factors holding us back from a stronger recovery are the ongoing issues of restrictive mortgage credit and constrained inventory,” he said. “With strict new mortgage rules in place, we will be monitoring the lending environment to ensure that financially qualified buyers can access the credit they need to purchase a home.” First-time buyers accounted for 27% of purchases in December, down from 28% in November and 30% in December 2012. Single-family home sales rose 1.9% to a seasonally adjusted annual rate of 4.30 million in December from 4.22 million in November, but are 0.7% below the 4.33 million-unit pace in December 2012. The median existing single-family home price was $197,900 in December, up 9.8% from a year ago. (NAR)

[philadelphiarealestate]

2014: The Emerging Purchase Market

Freddie Mac recently released its U.S. Economic and Housing Market Outlook for November, showing that the major shift for the coming year will be a transition from a refinance-dominated mortgage market to the first purchase-dominated market the industry has seen since 2000. Interest rates are expected to rise gradually throughout 2014 with the 30-year fixed-rate mortgage ending the year near 5% with affordability still strong in most markets.  Projecting housing starts to rise to a 1.15 million pace in 2014, which should help to create around 700,000 new jobs and quicken the pace of economic growth.  Gains in home sales will be limited by continuing tight inventory in many markets, but anticipate sales to rise about 5-6% in 2014 from 2013 levels. Expect home values to continue rising but at a more moderate pace, around 5-6% annualized, and expect multifamily property investments to continue to be relatively attractive as we enter 2014, based on the Freddie Mac Multifamily Investment Index. "With the close of 2013 will also come a major transition in the housing finance industry,” says Frank Nothaft, Freddie Mac vice president and chief economist. “For the first time since 2000, we're going to see the mortgage market dominated by purchase activity as the refinance share drops below 50%, and with mortgage rates rising, we're also going to see the home-sales gains as well as the impressive house price growth begin to moderate to more sustainable levels."

(RISMedia)