Today’s News Synopsis:

ATTOM Data Solutions reported seriously underwater properties decreased by 1.2 million year-over-year in the first quarter.  The latest Houzz & Home Survey showed more money is being spent on home renovations by both millennials and first-time homebuyers.  Late summer is the best time to purchase a home according to the latest Zillow analysis.

In The News:

Realty Trac – “Seriously Underwater Properties Down 1.2 Million From a Year Ago in Q1 2017, Equity Rich Properties Increase 1.4 Million” (5-4-2017)

“ATTOM Data Solutions, curator of the nation’s largest multi-sourced property database, today released its Q1 2017 U.S. Home Equity & Underwater Report, which shows that as of the end of the first quarter of 2017 there were nearly 5.5 million (5,497,771) U.S. properties seriously underwater — where the combined loan amount secured by the property was at least 25 percent higher than the property’s estimated market value — up from 5.4 million seriously underwater properties in Q4 2016 but still down by more than 1.2 million from the 6.7 million seriously underwater properties in Q1 2016.”

CNBC – “Millennials and first-time homebuyers are spending a lot more on renovations, survey finds” (5-4-2017)

“Millennials are becoming homeowners much later than baby boomer did, but when they get there, they’re spending more for renovations, according to an annual survey released Thursday.”

Bloomberg – “Jobless Claims in U.S. Declined More Than Forecast Last Week” (5-4-2017)

“Filings for U.S. unemployment benefits dropped more than forecast last week, consistent with a robust labor market, a Labor Department report showed Thursday.”

NAHB – “Builder Confidence in the 55+ Housing Market Remains Positive Despite Drop in the First Quarter of 2017” (5-4-2017)

“Despite a 12-point drop from the previous quarter, builder confidence in the single-family 55+ housing market remains in positive territory for the first quarter of 2017 with a reading of 55, according to the National Association of Home Builders’ (NAHB) 55+ Housing Market Index (HMI) released today.”

Freddie Mac – “Mortgage Rates Hold Steady” (5-4-2017)

“Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS^®), showing average mortgage rates holding steady for the week.”

Zillow – “Best Time to Buy a Home is Late Summer” (5-4-2017)

“Patience pays off, for home buyers. The best time to buy a home is late summer, when there are the most options and frequent price cuts.”

Realtor.com – “The Force Is Strong in These 4 ‘Star Wars’-Themed Bedrooms” (5-4-2017)

“The Force is a big deal. No one sees it, but it’s everywhere—especially today.”

CNBC – “This problem costs homeowners an extra 36%” (5-4-2017)

“Your homeowner’s insurance rate can be hurt by a bunch of things — even something as simple as paying your credit card bill late can do serious damage.”

NAHB – “Housing Index Hits Milestone but Permits Still Lagging” (5-4-2017)

“Based on current price, permit and employment data, markets nationwide are running at an average of 100 percent normal economic and housing activity, according to the National Association of Home Builders/First American Leading Markets Index (LMI) released today.”