New-Home Prices Soar to 5-Year High
As inventory remains at record lows, prices of new-homes jumped a record-breaking 11.2 percent in August, the U.S. Census Bureau reported Wednesday.
____________________________________________________________________________________
SBA Raises Revenue Standards for Real Estate
The U.S. Small Business Administration will be increasing revenue standards for several categories within the real estate industry.
____________________________________________________________________________________
Fiserv: Home Prices Still Have a Long Way to Climb
Despite recent progress, home prices still have a long way to go to return to the peaks they reached during the housing boom, the analytics firm Fiserv reports.
____________________________________________________________________________________
Loan Applications Rise as Rates Reach Record Lows
More home owners and purchasers took advantage of locking in last week’s record-low mortgage rates.
____________________________________________________________________________________
Pending Home Sales Decline in August
After reaching a two-year peak, pending home sales fell in August but are at elevated levels compared with a year ago, according to NAR.
____________________________________________________________________________________
Rural Areas to Stay Rural — for Now
Communities that have outgrown a 38-year-old definition of “rural” will continue to be eligible for mortgage assistance while the federal Rural Housing Service transitions to a new way of tracking population and income changes.
____________________________________________________________________________________