Orlando, Tampa, Jacksonville near top of ‘likely to move’ list
IRVINE, Calif. – Aug. 16, 2018 – ATTOM Data Solutions’ Q2 2018 Pre-Mover Housing Index finds that Chicago, Washington, D.C., Orlando, Tampa-St. Petersburg and Atlanta posted the highest pre-mover index in the second quarter of 2018 in the larger-metro category. ATTOM says a high score is “predictive of a high percentage of homeowners moving in the third quarter.”
ATTOM’s quarterly report looks at 36 metropolitan statistical areas (MSAs) with at least 500,000 single-family homes and condos using data collected from purchase loan applications on residential real estate transactions.
The Pre-Mover Housing Index is based on the ratio of homes with a “pre-mover” indicator compared to total single-family homes and condos in a given geography, indexed off the national average. An index above 100 is above the national average and indicates an above-average ratio of homes that will likely be sold in the next 90 days in a given market.
Among a broader set of 131 metro areas with at least 100,000 single family homes and condos, those posting the highest pre-mover index in Q2 2018 were Wilmington, N.C. (206); Colorado Springs, Colo. (178); and Manchester-Nashua, N.H. (172); followed by Chicago (168) and Washington, D.C. (166).
“A higher pre-mover index bodes well for local real estate agents, home improvement stores, moving companies and others that benefit from the halo effect of a home sale,” said Daren Blomquist, senior vice president at ATTOM Data Solutions.
“Meanwhile markets with a low pre-mover index likely have a scarcity of inventory available to buy or relatively weak demand from prospective buyers – or some combination of both – which is not optimal for businesses that rely on the home sale halo effect,” Blomquist adds.
ATTOM has a pre-mover heat map on its website that displays the likelihood of home sales by city.
States with the highest pre-mover index in the second quarter of 2018 – predictive of a high percentage of homeowners moving in the third quarter – were North Dakota (275), Illinois (193), Nevada (164), Virginia (163), and Colorado (147). Other states with a pre-mover index among the 10 highest in Q2 2018 were New Jersey (133), Florida (133), Delaware (130), Maryland (127), and Utah (124).
WOW!! This is great news for Florida and its new, potential, residents. Contact one of our associates today to get more information about jump on this wagon and making the move to Central Florida!! Disney’s famous attractions and Central Florida’s lifestyle has so many things to offer visitors and residents, we want YOU to be a part of all of it! Contact us today to learn where to start on the Homebuying process.
Study: Many Fla. millennials still not ‘on their own’
WASHINGTON – Aug. 14, 2018 – The trend of slow-to-launch millennials staying at home with mom and dad has led to about 2.4 million fewer households forming, according to a National Association of Home Builders (NAHB) analysis. A rise in housing costs and personal debt are the chief factors keeping millennials at home, economists say.
The study looked at the number of younger adults, ages 25-34, who qualify for head-of-household status. The number of young adults living with their parents or others increased from 15.3 percent in 2000 to 26.3 percent in 2016, according to NAHB, with Florida one of the top five states for young adults slow to leave the nest.
“This story is quite different in different states,” says Natalia Siniavskaia, assistant vice president for housing policy research at the NAHB. “There are states where headship rates (the percentage that qualify for head-of-household status) for this age group are north of 50 percent, such as North Dakota and Iowa. And there are states like California and Florida where young adults are much more likely to live with parents.”
States with the priciest housing costs tend to have the lowest number of households headed by 25- to-34-year-olds. The five worst states for young adult household formations are, in order, Hawaii, New Jersey, California, Florida and Alaska.
On the other hand, the states that have more affordable housing tend to have higher rates of young adult household formation. The five states that have some of the best homeownership rates among millennials are North Dakota, Iowa, South Dakota, Nebraska, and Kansas.
The majority of Americans recently surveyed say they believe 28 is the ideal age for purchasing a first home, according to a recent Bankrate survey.
“As the economic situation continues to improve, it should give more stability and confidence to younger adults to buy their homes or leave parental homes,” Siniavskaia says.
Census data may already be starting to show a change: The homeownership rate for younger adults has increased in the last year from 34.5 percent to 35.3 percent, according to federal data.
Source: “Millennials Still Crashing With Parents in Strong Economy and it Reveals Their Ambition,” Bankrate.com (Aug. 7, 2018)
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Fannie Mae: Optimism to Buy a Home or Sell a Home May Have Peaked
The optimism convincing you to Buy a Home in Orlando may have peaked. Some may say now is the time, some may say it’s not. We believe if you are equipped with the right knowledge in order to Buy a Home, it will be the right investment decision for you. Perhaps you are not looking to buy a home but are looking to sell your home near Disney. Orlando is one of the most visited destinations and we want to help you sell your home!!
WASHINGTON – Aug. 8, 2018 – The Fannie Mae Home Purchase Sentiment Index (HPSI) fell in July for the second consecutive month, dropping 4.2 points to 86.5, after reaching survey highs in April and May.
Four out of six HPSI components declined.
The net share of survey respondents who said now is a good time to buy a home fell 4 percentage points, and the net share who said it is a good time to sell a home fell 6 percentage points. Additionally, the net share who said that home prices will go up in the next 12 months decreased 7 percentage points.
More Americans also expressed a decreased sense of job security, with the net share who said they are not concerned about losing their job falling 11 percentage points in July.
“Home purchase sentiment seems to have reached a plateau, with potential home sellers likely struggling to find a home to buy amid slow supply growth, expectations for rising mortgage rates, and significant home price increases,” says Doug Duncan, senior vice president and chief economist at Fannie Mae.
“Survey respondents cite ‘high home prices’ as the top reason why it is both a good time to sell a home and bad time to buy a home,” he adds. “This suggests a contributing factor to the low supply of existing homes for sale is that current owners are reluctant to trade up in a rising price market. Additionally, the shares of consumers citing favorable mortgage rates as a reason why it’s a good time to buy or sell a home both dropped to fresh survey lows.”
Home Purchase Sentiment Index snapshot
Fannie Mae’s 2018 Home Purchase Sentiment Index (HPSI) decreased in July by 4.2 points to 86.5. The HPSI is down 0.3 points compared with the same time last year.
The net share of Americans who say it’s a good time to buy a home fell 4 percentage points from last month to 24 percent.
The net share of those who say it’s a good time to sell fell 6 percentage points from last month’s survey high to 41 percent.
The net share of those who say home prices will go up fell 7 percentage points to 39 percent, falling under 40 percent for the first time since December 2016.
The net share of Americans who say mortgage rates will go down over the next 12 months rose 1 percentage point to 52 percent.
The net share of Americans who say they are not concerned about losing their job fell 11 percentage points from last month to 65 percent.
The net share of those who say their household income is significantly higher than it was 12 months ago rose 2 percentage points to 21 percent, matching the survey high from May 2018.
Are you ready to Buy a Home in Orlando and move into your Dream Home? Are you are interested inlooking to purchase the perfect Vacation Home in Orlando? Well, now is your time! Orlando is one of the most visited destinations for travelers from all over. Your Disney Vacation Home can be the perfect spot to vacation to and invest in. Contact one of our ProfessionalAgents today to help you make an educated decision on your future investment!
Welcome to this weeks snapshot of Orlando’s Mortgage Rate Monday! Take a look at mortgage rates, particularly the 30-year fixed rates that are steadily increasing. Now has never been a better time to invest your hard earned money into something that will continue to reward you, especially with ownership!
Your Mortgage Rate is determined by the lender and can be either fixed, staying the same for the term of the mortgage, or variable, fluctuating with a benchmark interest rate. Mortgage rates vary for borrowers based on their credit profile. Here is a snap shot of the daily mortgages rates as of today, Monday, August 6, 2018. While the rates shown are not guaranteed for everyone, this gives the average buyer a good idea of what their rate should look like. We always recommend you speak with your local realtor to find the best loan program for you Orlando Home purchase. Take advantage of these mortgage rates now before it changes, contact us today!
homes and condos in a given geography, indexed off the national average. An index above 100 is above the national average and indicates an above-average ratio of homes that will likely be sold in the next 90 days in a given market.
