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Banks keep pushing consumers toward online technology, but consumers aren’t ready to give up having a local retail branch an arm’s length away. As a result, banks are left trying to find the balance between having retail locations open for consumers and cutting back costs. So far, there’s no easy answer. …read more

From:: Real Estate Wire

At first look, it appears California’s housing market in July significantly struggled, with single-family homes and condominiums falling a whopping 10.4% for the month. But PropertyRadar dug a little deeper into the data, finding that while sales did decline, it wasn’t as bad as first expected. …read more

From:: Real Estate Wire

The final chapter in GSE executives’ role in the financial crisis saga is over, once again following the same pattern of the pervious accounts. Collectively, the executives in charge of the two mortgage giants at the core of the crisis were charged $445,000 for their involvement in the financial crisis. …read more

From:: Real Estate Wire

NBA legend Kobe Bryant closed out his professional basketball career earlier this year by dropping 60 points on the Utah Jazz in his final game with the Los Angeles Lakers, and now Bryant is prepared to drop $100 million as a venture capitalist. And one of Bryant’s first investments is a name familiar to the housing industry. …read more

From:: Real Estate Wire

The havoc wreaked by the flooding in Louisiana is far from over. In fact, it’s really just beginning. The sudden displacement of thousands of families sends some looking for a home away from the flooded areas. What’s more, the pool of potential homeowners and properties available for sale are shifting dramatically. …read more

From:: Real Estate Wire

By Susanne Dwyer

Unlike the month’s temperatures, July home sales cooled off from June’s highest year-to-date level. In the RE/MAX National Housing Report analysis of 53 U.S. cities, July sales fell in 49 markets by 8.8 percent from July 2015 and by 13.1 percent from June. Over the last seven years, the average drop in sales from June to July has been 8.2 percent. The Median Sales Price dropped slightly from June to $225,000, which is still 4.7 percent higher than one year ago. At the same time, inventory continued to tighten by dropping 3.0 percent lower than June and 16.6 percent lower than a year ago, resulting in a Months Supply of just 3.5. Five metro areas reported an inventory supply of less than two months. Meanwhile, the average Days on Market dropped to 53 which is just one day less than the average in June and four days below last year. For this month’s housing report infographic, visit.

“After a June jump in home sales, it’s quite common to see July sales make a correction,” says Dave Liniger, RE/MAX CEO, Chairman of the Board and Co-Founder. “This is a summertime pattern that we often see on a national level. Of course, one month doesn’t make a trend and we still have a couple more months ahead in the traditional home-buying season. At the same time, it’s important to note that, on a year-over-year basis, prices are rising at a moderate rate that’s very much in line with historical averages.”

“One of the most important things for consumers to realize is just how regionalized housing truly is,” adds Bob Walters, Quicken Loans, Chief Economist. “While those on the West coast are being surprised by their high appraisals, homeowners in the Northeast and Midwest are more likely to be shocked by their low values. If homeowners keep an eye on local home sales, they can be better aware of their current home value and not be shocked when they go to sell or refinance.”

Closed Transactions – Year-over-year change
In the 53 metro areas surveyed in July, the average number of home sales was 8.8 percent lower than one year ago, and was 13.1 percent lower than the previous month. It’s not unusual to see a midsummer slowdown in sales. Over the last seven years, the average drop in sales from June to July has been 8.2 percent. Despite the trend, four metro areas surveyed reported sales higher than one year ago, including Providence, R.I. +3.7 percent, Boise, Idaho +2.1 percent, Raleigh-Durham, N.C. +1.4 percent, and Albuquerque, N.M. +0.2 percent.

Median Sales Price – Median of 53 metro median prices
In July, the median of all 53 metro Median Sales Prices was $225,000, down 1.3 percent from June 2016, but up 4.7 percent from the Median Sales Price in July 2015. July is the 54th consecutive month without a drop in price from the previous year. The 4.7 percent increase in prices continues this year’s trend of moderating price increases. Among the 53 metro areas surveyed in …read more

From:: Finance and Economy

By Susanne Dwyer

Unlike the month’s temperatures, July home sales cooled off from June’s highest year-to-date level. In the RE/MAX National Housing Report analysis of 53 U.S. cities, July sales fell in 49 markets by 8.8 percent from July 2015 and by 13.1 percent from June. Over the last seven years, the average drop in sales from June to July has been 8.2 percent. The Median Sales Price dropped slightly from June to $225,000, which is still 4.7 percent higher than one year ago. At the same time, inventory continued to tighten by dropping 3.0 percent lower than June and 16.6 percent lower than a year ago, resulting in a Months Supply of just 3.5. Five metro areas reported an inventory supply of less than two months. Meanwhile, the average Days on Market dropped to 53 which is just one day less than the average in June and four days below last year. For this month’s housing report infographic, visit.

“After a June jump in home sales, it’s quite common to see July sales make a correction,” says Dave Liniger, RE/MAX CEO, Chairman of the Board and Co-Founder. “This is a summertime pattern that we often see on a national level. Of course, one month doesn’t make a trend and we still have a couple more months ahead in the traditional home-buying season. At the same time, it’s important to note that, on a year-over-year basis, prices are rising at a moderate rate that’s very much in line with historical averages.”

“One of the most important things for consumers to realize is just how regionalized housing truly is,” adds Bob Walters, Quicken Loans, Chief Economist. “While those on the West coast are being surprised by their high appraisals, homeowners in the Northeast and Midwest are more likely to be shocked by their low values. If homeowners keep an eye on local home sales, they can be better aware of their current home value and not be shocked when they go to sell or refinance.”

Closed Transactions – Year-over-year change
In the 53 metro areas surveyed in July, the average number of home sales was 8.8 percent lower than one year ago, and was 13.1 percent lower than the previous month. It’s not unusual to see a midsummer slowdown in sales. Over the last seven years, the average drop in sales from June to July has been 8.2 percent. Despite the trend, four metro areas surveyed reported sales higher than one year ago, including Providence, R.I. +3.7 percent, Boise, Idaho +2.1 percent, Raleigh-Durham, N.C. +1.4 percent, and Albuquerque, N.M. +0.2 percent.

Median Sales Price – Median of 53 metro median prices
In July, the median of all 53 metro Median Sales Prices was $225,000, down 1.3 percent from June 2016, but up 4.7 percent from the Median Sales Price in July 2015. July is the 54th consecutive month without a drop in price from the previous year. The 4.7 percent increase in prices continues this year’s trend of moderating price increases. Among the 53 metro areas surveyed in …read more

From:: Real Estate News