Today’s News Synopsis:

The Census Bureau and HUD announced an increase in new home sales by 3.5% month-over-month and 25.4% year-over-year, putting them at an 8-year high.  Home prices increased 5% in May across the nation according to the S & P CoreLogic Case-Shiller Indeces.  Discussion on the increase in Fed interest rates is expected to heat up this week.

In The News:

Bloomberg – “Fed Rate Hike Debate to Intensify This Week: Decision-Day Guide” (7-25-16)

“The debate over interest-rate increases is set to intensify at this week’s meeting of Federal Reserve policy makers, even if it is not expected to yield a clear signal on the timing of the next move.”

DS News – “Summer Heats Up Single-Family Markets” (7-26-16)

“As summer continues to heat up so do the nation’s top single-family housing markets, each demonstrating consistently strong demand, home price appreciation, and economic and demographic growth, according to a recent report from Ten-X.”

Construction Dive – “Construction firms ‘struggling to fill jobs’ as 25 states shed positions in June” (7-26-16)

“The Associated General Contractors of America reported that 25 states lost jobs between May and June, while 23 states and Washington, DC, added positions.”

Housing Wire – “New home sales reach 8-year high” (7-26-16)

“New home sales are up once again, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development.”

Mortgage Professional America – “Morning Briefing: Homebuyers in this city hit with a new 15 per cent tax” (7-26-16)

“Americans buying homes in Metro Vancouver will be hit with a new 15 per cent tax unless they are moving to Canada as a permanent resident.”

Bloomberg – “Golden Years Redefined as Older Americans Buck Trend And Work” (7-26-16)

“A rising share of Americans is holding jobs into their golden years, bucking the overall trend of people leaving the labor force that is concerning Federal Reserve policy makers trying to boost growth.”

Housing Wire – “Case Shiller: May home prices rise at modest rate” (7-26-16)

“Home prices are still rising, but not as drastically as before. Some hot markets are even seeing a cooling.”

Bloomberg – “Why It’s So Hard to Build Affordable Housing: It’s Not Affordable” (7-26-16)

“A real estate developer wanted to increase affordable housing in Denver, trying to make fiscal sense out of a plan to build rental apartments for people making only 30 percent of the area’s median income—the kind of housing America desperately needs.”

Mortgage Professional America – “Buyers facing a ‘need for speed’ as inventory dwindles” (7-26-16)

“Homes are getting snapped up a lot faster now than they were a year ago, leading to a limited window for buyers to make a decision.”

 

Bruce Norris will be presenting his newest talk Stay Put, Cash Out, Or Change Seats? with InvestClub for Women on Wednesday, September 21.

Bruce Norris will be presenting Stay Put, Cash Out, Or Change Seats? with InvestClub for Women and Robert Hall & Associates on September 28.

Bruce Norris of The Norris Group will be presenting the 9th annual I Survived Real Estate 2016 on Friday, October 21.

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