Sentences with phrase «says home price growth»
Frank Nothaft, the chief economist at CoreLogic, says home price growth has been the primary driver of home equity wealth creation.
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«Given that the decline in home prices had so much to do with the de-leveraging that was taking place on the consumer side,» a recent 10 % rise in the housing market «is a key reason for optimism about growth improving,» Marple said.
«China, the recent growth engine for demand, remains underpenetrated, and should remain accretive, and the North American consumer remains healthy thanks to the wealth effect (equity markets and home prices remain elevated supporting consumer willingness to spend),» she said in an email to CNBC.
«If home prices rise substantially above income growth, the only way you're bridging that gap usually is through mortgage debt,» says Ben Rabidoux, an analyst with boutique research firm M Hanson Advisors.
Let's say that, over the next two years, the QE taper pushes rates on the most popular 30 - year mortgages up to 5.5 %, from 4.5 % today, and home price growth slows to 5 % year - over-year from the current 12 %.
«While tight supply is expected to keep home prices on an upward trajectory in most metro areas in 2018, both the uptick in mortgage rates and the impact of the new tax law on some high - cost markets could cause price growth to moderate nationally,» said Yun.
«Overlooked in the comparison of income growth and unadjusted house price growth is that a change in household income is not the only factor that influences how much home one can afford to buy,» Fleming said.
In the Greater Toronto Area (GTA), Ontario, in the fourth quarter of 2016, the aggregate price of a home in the region rose 16.1 % to $ 720,761 year - on - year and, unlike Vancouver, are set to continue strong growth throughout 2017, says Royal Le Page.
«The lack of inventory has pushed up home prices by 48 percent from the low point in 2011, while wage growth over the same period has been only 15 percent,» Yun says.
Matthew Gardner, Chief Economist at Windermere Real Estate, covering Seattle, says, «Our strong wage growth is still supporting rising home prices, which when combined with the historically low number of homes for sale in Seattle, gives home flippers substantial returns on their investments.
«Although employment increased, wages still lag unprecedented home - price growth,» Young says.
CoreLogic's chief economist, Frank Nothaft, said, «Growing numbers of first - time homebuyers find limited for - sale inventory for lower - priced homes, leading to both higher rates of price growth for starter homes and further erosion of affordability.»
Finance Minister Charles Sousa said on Thursday he is looking at the tax as one of a number of options to control aggressive growth in home prices, after rejecting such a measure last year.
«The disparity in home price appreciation between Canadian regions has never been greater than that seen in 2016, with rates ranging from double - digit extremes in some cities to negative growth in others,» said Royal LePage President and CEO, Phil Soper.
There's no easy way to address the «refinancing ratchet effect,» the study said, because the three factors that can lead to trouble — declining interest rates, rising home prices, and easy access to mortgage loans — are «benign market conditions» often seen as indicators of economic growth.
Meanwhile, the TD report said home prices in Edmonton and Calgary were expected to post the biggest growth rate over the next two years, as those cities continue to see population and employment gains.
That being said, many people don't have the time or resources to perform a deep - dive analysis on things like forecasted home price appreciation, vacancy rates, projected rent growth, ect.
Richard Syron, CEO and Chairman of the Federal Home Loan Mortgage Corporation — or «Freddie Mac» — says «more than a dozen years of sustained growth in housing prices have turned many middle class homeowners into millionaires; put countless children through college; and made the family home the most valuable egg in the American nest&raqHome Loan Mortgage Corporation — or «Freddie Mac» — says «more than a dozen years of sustained growth in housing prices have turned many middle class homeowners into millionaires; put countless children through college; and made the family home the most valuable egg in the American nest&raqhome the most valuable egg in the American nest».
«Home prices had gotten so out of whack with the growth in the underlying wages and salaries that there had to be a correction — and it'll happen in 2017,» said Royal LePage CEO Phil Soper.
While income from wages has barely kept up with inflation, gains in the stock market and home prices are spurring consumer confidence and supporting growth in consumer borrowing, TD Economics economist Thomas Feltmate said.
«The booming employment market in Greater Seattle has brought multiple years of double - digit [home] price growth and less than two months» [housing] inventory available,» says Sam DeBord, managing broker of the Seattle Homes Group and vice president of Strategic Growth with Coldwell Banker Dangrowth and less than two months» [housing] inventory available,» says Sam DeBord, managing broker of the Seattle Homes Group and vice president of Strategic Growth with Coldwell Banker DanGrowth with Coldwell Banker Danforth.
«Home price growth creates wealth for owners with home equity,» says Anand Nallathambi, president and CEO of CoreLoHome price growth creates wealth for owners with home equity,» says Anand Nallathambi, president and CEO of CoreLohome equity,» says Anand Nallathambi, president and CEO of CoreLogic.
«The continued home price growth, driven by inventory that can't keep up with the high demand, is further proof of a strong appetite for home - buying,» says Banfield.
«The lack of inventory has pushed up home prices by 48 percent from the low point in 2011, while wage growth over the same period has been only 15 percent,» said Yun.
«Home affordability continued to worsen in the first quarter — not surprising given the continued strong growth in home prices combined with the recent rise in mortgage rates,» says Daren Blomquist, senior vice president at ATTOM Data SolutiHome affordability continued to worsen in the first quarter — not surprising given the continued strong growth in home prices combined with the recent rise in mortgage rates,» says Daren Blomquist, senior vice president at ATTOM Data Solutihome prices combined with the recent rise in mortgage rates,» says Daren Blomquist, senior vice president at ATTOM Data Solutions.
«Listing prices in our market are a product of ongoing high demand, projected population growth, and the low inventory levels of homes in what is one of the most desirable locations to live,» says Rick Turley, president of Coldwell Banker Residential Brokerage in the San Francisco Bay Area.
«Ongoing job growth continues to fuel demand for housing, while wage growth is helping to offset the effects of rising mortgage rates and keep home prices affordable,» said Robert Dietz, chief economist at the NAHB, in a statement on the Index.
«Preliminary research results from our team find that millennials are accelerating the rate at which they move out of their parents» homes and form new households; however, continued slow supply growth implies continued strong price appreciation and affordability constraints facing millennials and first - time buyers in many markets,» Duncan says.
Over the past year, continued home price growth has helped spur a sizable increase in the net share of consumers who say it's a good time to sell a home, but also a modest weakening in the net share who say it is a good time to buy.»
«For example, even though the Memphis MSA has the highest effective gross yield (EGY) at 13.7 percent, its relative small average change in home price growth from Q2 to Q4 means that there's no real market slowdown in Memphis — it's a year - round home - buying season,» Villacorta says.
«Home sales improved over the summer once inventory increased, prices moderated and economic growth accelerated,» he said.
«Affordability has fallen to a five - year low as home price increases easily outpaced income growth,» he said.
«Price increases caused by the development impact fee could have a chilling effect on sales of new homes in the county and eventually slow growth,» says CAR President Pat Terrill, who testified before the county commission in February.
«While tight supply is expected to keep home prices on an upward trajectory in most metro areas in 2018, both the uptick in mortgage rates and the impact of the new tax law on some high - cost markets could cause price growth to moderate nationally,» Yun says.
«Home prices in metro areas throughout the country continue to show solid price growth, up 25 percent over the past three years on average,» he said.
«Home buyers are benefiting from slower price growth due to the much - needed, rising inventory levels seen since the beginning of the year,» he said.
Lawrence Yun, NAR chief economist, said the growth in home prices gets down to supply and demand.
«Young people are in a position to leave their parents» home because job growth is picking up, but the lack of inventory and rising prices is making that hard,» he said.
As the economy begins to add those jobs more evenly across the country, «we could see better home price growth in some Midwestern markets,» Lereah says.
«It appears the ongoing run - up in price growth in many areas and less homes for sale at bargain prices are forcing some investors to step away from the market,» says Yun.
«Home price growth will slow a bit, to 5 percent from 6.5 percent last year,» say Payne and Sermeño.
«The lack of supply over the past year has been eye - opening, and is why, even with strong job creation pushing wages higher, home price gains — at 5.8 percent nationally in 2017 — doubled the pace of income growth and were even swifter in several markets,» says Yun.
«Inadequate single - family home construction since the Great Recession has had a detrimental impact on the housing market by accelerating price growth and making it very difficult for prospective buyers to find an affordable home — especially young adults,» he said.
«Entry - level homes have been in particularly short supply, leading to more rapid home price growth compared with more expensive homes,» says Dr. Frank Nothaft, chief economist for CoreLogic.
«Although the economy is expected to continue to expand with around 2 million net new job creations, existing - home sales are expected to see little expansion next year because of affordability tensions from rising mortgage rates and prices continuing to outpace income growth,» says Yun.
«The new administration in Washington is seeking faster economic growth, increased investment in infrastructure, and changes in tax policy which could affect housing and home prices,» Blitzer said.
«Affordability will be the name of the game over the course of 2017, as the past few years of relatively impressive price growth have pushed home prices closer to the peak levels of 2006, with several markets reaching above and beyond to all - time highs,» Villacorta says.
Yun says housing starts remain key to bringing home price appreciation in line with household income growth.
«Home prices have ascended far past wage growth in much of the country in recent years because not enough homeowners are selling and home builders have not boosted production enough to meet rising demand,» says Lawrence Yun, NAR chief economHome prices have ascended far past wage growth in much of the country in recent years because not enough homeowners are selling and home builders have not boosted production enough to meet rising demand,» says Lawrence Yun, NAR chief economhome builders have not boosted production enough to meet rising demand,» says Lawrence Yun, NAR chief economist.
«Affluent households have greatly benefited from strong growth in the stock market in recent years, and the steady rise in home prices has likely given them reassurance that real estate remains an attractive long - term investment,» he said.