Today’s News Synopsis:

The latest Home Price Index Report from Black Knight Financial Services showed home prices increased reached a new high in February, having increased 0.8% month-over-month and 5.7% year-over-year.  The housing market for sellers for the spring has been at its best as homes are selling faster than they are being put on the market.  The latest Inaugural Redfin Migration Report showed the leading cause for migration patterns out of California this year is the expensive housing market.

In The News:

CNBC – “Spring housing: ‘Strongest seller’s market'” (4-24-2017)

“Spring homebuyers are pounding the pavement at a furious pace, but the pickings are getting ever slimmer.  Even as more homes come on the market for this traditionally popular sales season, they’re flying off fast, with bidding wars par for the course.”

Zillow – “Zillow Launches New National Ad Campaign, ‘Finding Home'” (4-24-2017)

“Zillow, the leading real estate information and home-related marketplace, today launches a new national advertising campaign, “Finding Home.” The campaign kicks off today with three national TV spots; several more will roll out over the spring and summer.”

Redfin – “Inaugural Redfin Migration Report: Movement out of Expensive California Housing Markets Dominated U.S. Migration Patterns in Early 2017” (4-24-2017)

“One in five prospective homebuyers searched mostly for homes outside their current metro area in the first quarter of 2017, according to a report from Redfin (www.redfin.com), the next-generation real estate brokerage.”

RisMedia – “Silicon Valley’s Predictive Analytics to Fuel Leading Real Estate Brand” (4-24-2017)

“RE/MAX, LLC, a leading real estate brokerage franchisor, and HouseCanary, a leading modern data analytics company for real estate professionals, announced today their collaboration that aims to make RE/MAX agents more productive than ever.”

Black Knight Financial Services – “Black Knight Home Price Index Report: February 2017 Transactions” (4-24-2017)

“Today, the Data and Analytics division of Black Knight Financial Services, Inc. (NYSE: BKFS) released its latest Home Price Index (HPI) report, based on February 2017 residential real estate transactions.”

DS News – “Mortgages in the Potential Government Shutdown” (4-24-2017)

“With the federal funding running out on Friday and a potential government shutdown looming, expect to see an impact on the mortgage industry.”

Bloomberg – “Retailers Are Going Bankrupt at a Record Pace” (4-24-2017)

“Retailers are filing for bankruptcy at a record rate as they try to cope with the rapid acceleration of online shopping.  In a little over three months, 14 chains have announced they will seek court protection, according to an analysis by S&P Global Market Intelligence, almost surpassing all of 2016.”

Financial Planning – “1031 exchanges increasingly attractive as real estate prices climb” (4-24-2017)

“Section 1031 of the IRS Code may seem like an arcane — and perhaps even unnecessary — subject for an adviser to be expert in.”