Category: Uncategorized

Plano, Texas-based Starkey Mortgage announced it is rebranding the company and changing its name to Certainty Home Loans. “The rebrand to Certainty Home Loans marks our commitment to investing in our future,” said Jim Clapp, president and chief financial officer of Starkey Mortgage. …read more

From:: Real Estate Wire

Earlier this year, HouseCanary, a provider of software and analytics for the real estate industry, raised $33 million in its first ever funding round thanks to participants like Executive Chairman of Alphabet Eric Schmidt and NBA legend Kobe Bryant. Now, just nine months later, the company announced that it completed its second round of funding, which nearly equaled its first capital raise. …read more

From:: Real Estate Wire

As was the case throughout the nomination process, the housing industry was quick to praise the Senate confirmation of Pam Patenaude to serve as the next deputy secretary of the Department of Housing and Urban Development. Patenaude was confirmed on Thursday in an 80-17 vote in the Senate, with all 17 no votes come from the Democratic side of the aisle. Patenaude’s confirmation received a warmer welcome within the housing industry. …read more

From:: Real Estate Wire

During the Category 4 storm, the Houston metro was pounded with 9 trillion gallons of water, creating a hurdle for homeowners and renters across the city. As experts begin to examine the after-effects of Hurricane Harvey, Urban Institute discovered three facts that will shape how Houston rebuilds after the storm. …read more

From:: Real Estate Wire

By Susanne Dwyer

Apartment rents are appreciating less than house rents, thanks to shifting demand for single-family rentals, according to a recent analysis by Zillow. Apartment rents nationally increased a median 0.5 percent, to $1,551, year-over-year—relatively flat—while house rents increased 1.3 percent to $1,404.

Several colliding factors are driving the trend, says Dr. Svenja Gudell, chief economist at Zillow.

“When the market crashed, many families lost homes they owned during the foreclosure crisis, and now may not be able to afford to buy another as home prices rise,” Gudell says. “Those who want to buy are finding it difficult to find the right one, or may need a bit more time to come up with a down payment, but still want the advantage of space that single-family residences often provide. This, coupled with the foreclosure crisis turning millions of homeowners into renters, is a big reason why demand for single-family rental homes has risen over the last few years.”

Renters aged 38 to 52 (Generation X) are exhibiting the strongest demand, with roughly 40 percent renting a house, followed by renters aged 18 to 37 (millennials) at 25 percent and renters aged 73 and older (Silent Generation) at 10 percent.

Demand can be an imperfect indicator of the future, however. Forty-five percent of renters surveyed for the 2017 Zillow Group Consumer Housing Trends Report, soon to be released, have considered renting a house, but just 28 percent followed through on their plan.

The disparity between apartment rent appreciation and house rent appreciation varies from market to market, as well. Apartment rents in Portland, Ore., for example, have depreciated 1.1 percent year-over-year, but house rents have appreciated 4.4 percent. In the top 30 metropolitan areas:

For more information, please visit www.zillow.com.

Suzanne De Vita is RISMedia’s online news editor. Email her your real estate news ideas at sdevita@rismedia.com.

For the latest real estate news and trends, bookmark RISMedia.com.

The post Demand for House Rentals Intensifies appeared first on RISMedia.

…read more

From:: Finance and Economy

By Susanne Dwyer

Apartment rents are appreciating less than house rents, thanks to shifting demand for single-family rentals, according to a recent analysis by Zillow. Apartment rents nationally increased a median 0.5 percent, to $1,551, year-over-year—relatively flat—while house rents increased 1.3 percent to $1,404.

Several colliding factors are driving the trend, says Dr. Svenja Gudell, chief economist at Zillow.

“When the market crashed, many families lost homes they owned during the foreclosure crisis, and now may not be able to afford to buy another as home prices rise,” Gudell says. “Those who want to buy are finding it difficult to find the right one, or may need a bit more time to come up with a down payment, but still want the advantage of space that single-family residences often provide. This, coupled with the foreclosure crisis turning millions of homeowners into renters, is a big reason why demand for single-family rental homes has risen over the last few years.”

Renters aged 38 to 52 (Generation X) are exhibiting the strongest demand, with roughly 40 percent renting a house, followed by renters aged 18 to 37 (millennials) at 25 percent and renters aged 73 and older (Silent Generation) at 10 percent.

Demand can be an imperfect indicator of the future, however. Forty-five percent of renters surveyed for the 2017 Zillow Group Consumer Housing Trends Report, soon to be released, have considered renting a house, but just 28 percent followed through on their plan.

The disparity between apartment rent appreciation and house rent appreciation varies from market to market, as well. Apartment rents in Portland, Ore., for example, have depreciated 1.1 percent year-over-year, but house rents have appreciated 4.4 percent. In the top 30 metropolitan areas:

For more information, please visit www.zillow.com.

Suzanne De Vita is RISMedia’s online news editor. Email her your real estate news ideas at sdevita@rismedia.com.

For the latest real estate news and trends, bookmark RISMedia.com.

The post Demand for House Rentals Intensifies appeared first on RISMedia.

…read more

From:: Real Estate News