Today’s News Synopsis:

The latest Housing Demand Index from Redfin showed demand at its highest in 3 years last month, having increased 13.3% to 105.  The Mortgage Bankers Association reported a 4.1% decrease in mortgage applications as more people are hesitant to buy.  RealtyTrac also released a list of the top 18 places to rent where demand for rentals is strong and yields are higher.

In The News:

Redfin – “Redfin Housing Demand Index Reached a Three-Year High in September” (10-25-16)

“The Redfin Housing Demand Index, based on thousands of Redfin customers requesting home tours and writing offers, increased 13.3 percent from last month to a seasonally adjusted level of 105 in September. This is the highest level of demand seen since June 2013.”

Bloomberg – “Millennials Are Coming and They Want Sustainable Investments” (10-26-16)

“‘Everyone is always so curious about millennials,’ says Audrey Choi, chief executive officer of Morgan Stanley’s Institute for Sustainable Investing. ‘Especially in this space.'”

New York Times – “Wall St. Down, Led by Real Estate Companies” (10-26-16)

“United States markets were lower on Wednesday as shares of real estate companies skidded but bank stocks traded higher. Apple shares fell because investors weren’t impressed with its latest quarterly results.”

CBS News – “5 best – and worst – U.S. real estate markets” (10-26-16)

“Investors and homeowners looking for the next hot property market should keep an eye on two trends: jobs and affordability.  That’s according to new research from PwC and the Urban Land Institute, which on Wednesday published their annual Emerging Trends in Real Estate report.”

CNBC – “Mortgage applications fall 4.1% as homebuyers pull back” (10-26-16)

“Homebuyers were not enticed by lower mortgage rates last week, and the drop was not enough to boost refinances either. Total mortgage application volume fell 4.1 percent seasonally adjusted for the week ending October 21st, compared to the previous week, according to the Mortgage Bankers Association (MBA).”

Realty Trac – “18 Best Single Family Rental Markets for High Rental Yields and Strong Rental Demand” (10-26-16)

“In this third post in our five-part series on the state of the single family rental market, we look at the 18 best markets for buying single family rentals with the potential for both high gross annual rental yields and where the owner-occupancy rate is low — a sign of strong demand from prospective renters.”

Freddie Mac – “U.S. Housing Market Continues Steady Improvement” (10-26-16)

“Freddie Mac (OTCQB: FMCC) today released its Multi-Indicator Market Index® (MiMi®), showing three additional states — Indiana, Alabama and New Jersey — and one additional metro area — Dayton, Ohio — entering their historic benchmark levels of housing activity.”

Bloomberg – “America Is Building More Three-Car Garages Than One-Bedroom Apartments” (10-26-16)

“Inventory has been a major theme of U.S. housing markets in recent years, as a shortage of homes for sale has pushed prices higher and low vacancy rates have increased rents. So it might be surprising to hear that Americans are building plenty of housing—for their cars.”

Investor’s Business Daily – “Energy ETFs Bounce From Early Loss; Real Estate Trails S&P Sectors” (10-26-16)

“Major stock ETFs slumped Wednesday at the starting bell as a sharp fall in Apple (AAPL) shares rattled investors. Energy ETFs reversed early losses.”