Sentences with phrase «affordability conditions in»
«If mortgage rates start to rise heading into next year, prospective buyers could face weakening affordability conditions in their market unless supply dramatically improves,» added Yun.
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«Mortgage rates have subsided in recent months, which has only somewhat helped take away some of the sting prospective buyers are experiencing with the deteriorating affordability conditions in many areas,» says Yun.
«Worsening supply and affordability conditions in many markets have unfortunately put a temporary hold on many aspiring buyers» dreams of owning a home this year.»
«All year, the relationship between home prices, mortgage interest rates and family income has been hovering at historic highs, meaning the best housing affordability conditions in a generation,» he said.
«The price decline could be diminishing, as buyers recognize great bargain prices and the highest affordability conditions in 40 years; this will help mitigate further price drops,» Yun said.
Not exact matches
2015.03.03 Canada's housing affordability slips overall, masking diverging local conditions in Q4 2014: RBC Economics Strong home price increases in Ontario biggest factor in erosion...
First - time buyers in Florida are enjoying favorable market conditions right now, with relative affordability and low competition.
Tougher federal mortgage regulations took full effect on Jan. 1, slashing affordability for new borrowers and contributing to slower selling conditions than the record - breaking activity experienced throughout 2017 in Canada's largest markets.
Buoyant demand in this market stems from the high level of vehicle affordability — in part a consequence of the appreciation of the Australian dollar — and generally favourable financial conditions.
While this has caused appreciation to slow across many property types within the Greater Vancouver market, condominiums have remained remarkably resilient in the face of recent conditions due to their relatively better supply and affordability.
NYCHA residents, including tenants of the Pelham Parkway, Throggs Neck and Sack Wern Houses, together with housing advocates Community Voices Heard and Real Affordability For All, filled the Million Dollar Staircase to decry current conditions and push for new investments in the nation's largest public housing stock.
We act in our customer's best interests, ensuring affordability, transparency of terms and conditions and we will also support you when it comes to any repayment difficulties.
FCA regulations mean short term lenders in the UK will very likely check credit scores as part of the affordability checks, thus you will have a chance if the conditions are right.
First - time buyers in Florida are enjoying favorable market conditions right now, with relative affordability and low competition.
NAR President Ron Phipps, broker - president of Phipps Realty in Warwick, R.I., said buyers are responding to very good affordability conditions despite tight mortgage credit.
Three important and inter-related aspects of residential housing that have links to health include the physical conditions within homes; conditions in the neighborhoods surrounding homes; and housing affordability, which not only shapes home and neighborhood conditions but also affects the overall ability of families to make healthy choices.
Despite stronger buyer interest in most of the country, extremely tight inventory conditions and weakening affordability caused both existing - home sales and pending sales to decline in January.
«Some of the improvement in August may result from sales that were delayed in preceding months, but favorable affordability conditions and rising rents are underlying motivations,» he said.
«With price appreciation likely to continue at the same pace — and even higher in some markets — incomes need to rise even more to keep affordability conditions from declining further.»
Housing affordability conditions for all buyers reached a milestone in the first quarter, according to the National Association of Realtors ®.
NAR President Moe Veissi, broker - owner of Veissi & Associates Inc., in Miami, said affordability conditions are a big factor in rising sales.
To identify those soon - to - be booming millennial markets, NAR factored in current housing conditions and housing affordability, job creation, and population trends in 100 metro area across the country that have a large millennial presence to determine the best markets for aspiring millennial home buyers.
Housing affordability conditions are forecast to remain favorable through next year, with the 30 - year fixed - rate mortgage staying near record lows for the balance of this year but gradually rising to 4 percent in the second half of 2013.
«If low inventory conditions persist into the summer months, sales could be constrained and the resultant increases in prices could exacerbate the effect of interest rate increases on affordability.»
«Even with limited choices, it appears some of the rise in contract signings could be from buyers wanting to take advantage of current affordability conditions before mortgage interest rates move higher,» he said.
Current inventory conditions are also eroding affordability, especially for first - time homebuyers in the market for starter homes, which would require 39.1 percent of their monthly income.
«Home sales have been stuck in a narrow range despite several improving factors that generally lead to higher home sales such as job creation, rising rents and high affordability conditions.
Tougher federal mortgage regulations took full effect on Jan. 1, slashing affordability for new borrowers and contributing to slower selling conditions than the record - breaking activity experienced throughout 2017 in Canada's largest markets.
«There is still a supply - and - demand problem, mortgage rates are still on the rise, affordability remains an issue in many major markets, and the wider - ranging effects of the new tax plan are still unknown — so it's unclear whether this slowed growth will lead to housing market price plateaus or declines, but the conditions are certainly in place for that potential outcome.»
«Solid economic conditions and millennials in their prime buying years should be translating to a lot more sales to first - timers, but the unfortunate reality is that the nation's homeownership rate will remain suppressed until entry - level supply conditions increase enough to improve overall affordability,» says Yun.
When combined with the scant supply levels for existing homes, these tight inventory conditions continue to hamper affordability in many of the largest cities in the country — especially those in the West.
«Housing affordability, both nationally and in the four major urban markets we examined, remains very attractive compared to conditions over the past couple of decades.»
«Word has been spreading about the record high housing affordability conditions and our members are reporting an increase in foot traffic compared with a year ago,» he said.
According to NAR's latest metro price report, affordability conditions are improving in housing markets across the country.
The National Association of REALTORS ® recently analyzed 100 metro areas to determine the best purchase prospects for young buyers; researchers compared the presence of millennials in the area, local job market conditions, housing affordability and inventory availability.
«Stabilizing home prices and historically favorable affordability conditions are giving buyers more confidence, and REALTORS ® have become more optimistic since the beginning of the year from the positive shift in buyer patterns.»
«With record high housing affordability conditions thus far in 2011, we'd normally expect to see stronger home sales,» he said.
But she says the expected moderation in underlying housing demand comes at a time when affordability is at a cycle low, supply conditions are becoming better balanced and pent - up demand has largely been satisfied.
Affordability conditions remain favorable in much of the country, but consumers need access to safe and sound financing, particularly the 30 - year fixed - rate mortgage, and with low downpayment options for first - time buyers,» Yun said.
«Housing affordability conditions have been at a record high this year, rents are rising and homes are selling for less than the cost of construction in most of the country,» he said.
While nearly half of the Coldwell Banker survey respondents reported that affordability was the No. 1 concern for this group, 82 per cent said today's first - time homebuyers consider move - in conditions to be very important when searching for homes.
The survey asked 10,000 renters and homeowners about the condition of their local real estate market, their expectations for home value growth and affordability in the future, and their aspirations for homeownership.
Stable borrowing rates and a slight decline in utility costs provided little relief to homeowners as Canada's housing affordability conditions deteriorated for the fourth consecutive quarter, says the latest Housing Affordability Index released by Raffordability conditions deteriorated for the fourth consecutive quarter, says the latest Housing Affordability Index released by RAffordability Index released by RBC Economics.
«Affordability conditions remain favorable in most of the country, and we're still dealing with a large pent - up demand,» he said.
«Most of those owners also will be buying another home, but higher levels of new home construction going into 2014, combined with some reduction in demand from less favorable affordability conditions, will help to moderate price growth to more sustainable levels.»
NAR President Gary Thomas, broker - owner of Evergreen Realty in Villa Park, Calif., says the minor erosion in affordability conditions moving forward could be mitigated by bank and regulatory policies.
«With home prices in a broad trough and historically low mortgage interest rates, high housing affordability conditions and rising rents could stimulate a more rapid sales recovery if banks get back into the business of lending to more creditworthy borrowers,» Yun said.