Today’s News Synopsis:

Aaron Norris of the Norris Group gives this week’s Norris Group real estate headline roundup.  The California Association of Realtors reported 1.9% increase in pending home sales for December.  At the same time, new home sales increased 3.7% last month and now stand at 555,000 according to Zillow.  According to a survey from the University of Michigan, Americans are the most positive they have been in 30 years about the job market.

In The News:

California Association of Realtors – “December pending home sales and Market Pulse Survey” (2-24-2017)

“Led by the Southern California region, California pending home sales registered gains on a month-to-month and year-to-year basis, portending a moderate increase in sales in the near term, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) said today.”

Miami Herald– “2017 is a good year to buy luxury real estate in South Florida, experts say” (2-24-2017)

“It’s a good year to snatch up some luxury real estate.  According to ONE Sotheby’s International Realty’s year-end report, 2017 will be a buyers market thanks to an abundance of luxury options available.”

Seeking Alpha – “Real Estate Weekly: REITs Rally, Home Prices Rise” (2-24-2017)

“REITs gained 1.5% on the week, led by strength in the yield-sensitive real estate sectors. Nominal and real yields have declined in recent weeks amid global political uncertainty.”

CoreLogic – “CoreLogic Introduces New Data and Analytics Platform For Whole Loan Traders and Servicers” (2-24-2017)

“CoreLogic^® (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, today announced the availability of CLEAR, an integrated solution that enables whole loan traders, portfolio managers and servicers to fill critical information gaps by quickly accessing current data on lien position, equity, property characteristics and consumer credit.”

Realty Trac – “Top 5 NYC Developments to Watch in 2017” (2-24-2017)

“The Manhattan real estate market has long been the country’s hottest, and it shows no sign of slowing down in 2017.”

Bloomberg – “Americans Haven’t Been This Optimistic About the Job Market in Over 30 Years” (2-24-2017)

“The largest share of Americans in decades believes the labor market still has room to grow.  Thirty-five percent of U.S. consumers surveyed by the University of Michigan this month expect unemployment to further decline during the year ahead, the largest share of respondents since March 1984 — a time when unemployment was a full three percentage points higher than the current rate of 4.8 percent.”

NAHB – “New Home Sales Start Year on a Positive Note” (2-24-2017)

“Sales of newly built, single-family homes rose 3.7 percent in January to a seasonally adjusted annual rate of 555,000 units, according to newly released data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.”

Zillow – “Home Buyers Say Rising Interest Rates are Top Concern” (2-24-2017)

“The majority (53 percent) of current home shoppers consider rising interest rates to be among the top factors impacting their ability to purchase a home, according to a new survey from Zillow Group Mortgages.”