David Deem 714-997-3486 Confidence in housing is reawakening, according to the Fannie Mae Home Purchase Sentiment Index® (HPSI) for November. At 86.2, it inched up 0.5 percentage points, directly fueled by homebuyers. Twenty-three percent of homebuyers are optimistic about purchasing, the Index shows; 35 percent of homeowners are optimistic about selling. "The HPSI has moved within a tight range over the past five months, as positive sentiment regarding the overall economy continued to offset cooling housing sentiment," says Doug Duncan, chief economist and senior vice president at Fannie Mae. "Consumers' perceptions of growth in their household income reached a survey high [in November], helping to absorb some of the impact of increasing mortgage rates on housing market activity. "Meanwhile, the net share of consumers expecting home prices to increase over the next 12 months continues to moderate, dropping by 13 percentage points since this time la...

David Deem 714-997-3486 By Suzanne De Vita The Amazon contenders are in for a hot 2019, according to expert housing predictions. Compared to growth on a national scale, cities in the HQ2 hunt—including Washington, D.C., one of the winners—are forecasted to have higher home values in the upcoming year, Zillow's latest Home Price Expectations Survey shows. More than 100 economists and experts participated in the survey. According to the findings of the survey, Atlanta, Dallas, D.C., and Denver—all finalists in the HQ2 race—are expected to outperform the overall price trend for the U.S. Appreciation for the country was pegged at 3.8 percent for the year, and 3.4 percent over the next five. In October, Atlanta home prices were up 7.7 percent year-over-year, according to the Zillow Home Value Index (ZHVI); in Dallas, they were up 10.9 percent year-over-year; in D.C., they were up 3.5 percent year-over-year; and in Denver, they were up 6.2 percent year-over-year. Not eve...

David Deem 714-997-3486 Home-buying millennials are forging ahead with purchases, despite increasing interest rates and the market overall tightening, according to Ellie Mae's Millennial TrackerTM for October. Eighty-eight percent of closed loans to millennials were for purchases, which is four percentage points higher than last October. The amount, on average, was $189,686, also an increase from last year. "Although housing prices and interest rates are still rising at a faster pace in 2018 than they have in previous years, those trends are not yet stopping millennials from purchasing homes and putting down roots," says Joe Tyrell, executive vice president of Corporate Strategy for Ellie Mae. Sixty-eight percent of loans to millennials were conventional, while 27 percent were FHA, according to the Tracker. "It is important for lenders to educate millennials on the value of FHA loans that bring lower down payments and can allow these new homebuyers to s...