Home prices continued to expand in February, hitting their fourth consecutive all-time high, according to the S&P Dow Jones Indices.

Case-Shiller: Home prices hit fourth consecutive all-time high
Home prices increased to a new high for the fourth consecutive month, according to the Case-Shiller index. S&P Dow Jones Indices’ chairman explains the state of the housing market, and how rising home prices fall in line with the nation’s home sales, housing inventory and other factors.
More info @ http://www.housingwire.com/articles/39945-case-shiller-home-prices-hit-fourth-consecutive-all-time-high?eid=311702835&bid=1734939
Home prices continued to expand in February, hitting their fourth consecutive all-time high, according to the S&P Dow Jones Indices. Positive Real Estate News – http://www.facebook.com/pages/p/166701730035514
April 25, 2017 at 09:24AM

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“I expect Millennials to increase their rate of homeownership over the next five years. It is already happening with the leading edge of this generation; the people in their early 30s are getting married and having children at a rate that is similar to that of Gen X. Next we will see the younger Millennials start to get married and have kids, and then they will want the single-family home. Once they get into a home, they will spend money repairing and maintaining it, as well as enhancing it. From our own work, we know that Millennial homeowners are, as the Harvard report reinforces, behind Boomers in terms of per-household home improvement spending, but they are increasing their spend, and they are already out-spending Gen X homeowners on a per-household basis. When people buy a home, they generally tend to want to personalize it, and the Millennial generation is particularly interested in personalizing a space for their self-expression. Add to this the fact that Millennials will tend to buy “fixer-uppers” just so they can get into home ownership, and they will spend a couple of years gradually doing the work on their house.” http://www.homeadvisor.com/r/harvard-report-takeaways/#.WP7BO_krJNC

Harvard Report: Takeaways and Further Thoughts – HomeAdvisor
February 28, 2017 I just read the new report called “Improving America’s Housing: Demographic Change and the Remodeling Outlook” The Harvard Joint Center, as always, did a fantastic job summarizing the key trends and issues. Here are some of my takeaways and thoughts. Not One, but Two 900-Pound Gori…
More info @ http://www.homeadvisor.com/r/harvard-report-takeaways/#.WP7BO_krJNC
“I expect Millennials to increase their rate of homeownership over the next five years. It is already happening with the leading edge of this generation; the people in their early 30s are getting married and having children at a rate that is similar to that of Gen X. Next we will see the younger Millennials start to get married and have kids, and then they will want the single-family home. Once they get into a home, they will spend money repairing and maintaining it, as well as enhancing it.
From our own work, we know that Millennial homeowners are, as the Harvard report reinforces, behind Boomers in terms of per-household home improvement spending, but they are increasing their spend, and they are already out-spending Gen X homeowners on a per-household basis. When people buy a home, they generally tend to want to personalize it, and the Millennial generation is particularly interested in personalizing a space for their self-expression. Add to this the fact that Millennials will tend to buy “fixer-uppers” just so they can get into home ownership, and they will spend a couple of years gradually doing the work on their house.”

http://www.homeadvisor.com/r/harvard-report-takeaways/#.WP7BO_krJNC Positive Real Estate News – http://www.facebook.com/pages/p/166701730035514
April 24, 2017 at 08:30PM

30-Year Fixed Mortgage Rates Fall to Lowest Levels Since November; Current Rate is 3.72%, According to Zillow Mortgage Rate Ticker
is currently 3.72 percent, down 12 basis points from this time last week. The 30-year fixed mortgage rate fell early last week, then hovered around 3.76 percent for most of the week before falling to the current rate.
More info @ http://globenewswire.com/news-release/2017/04/18/961830/0/en/30-Year-Fixed-Mortgage-Rates-Fall-to-Lowest-Levels-Since-November-Current-Rate-is-3-72-According-to-Zillow-Mortgage-Rate-Ticker.html?ev=1
Positive Real Estate News – http://www.facebook.com/pages/p/166701730035514
April 24, 2017 at 08:26PM

In Southern California’s six counties, 12,435 foreclosure filings were made in the first quarter. That’s down 23 percent in a year and 64 percent below 10 years ago.

Southern California’s foreclosure mill runs at one-tenth its peak pace
You may still be having some economic flashbacks to the ugly end of the previous business boom. It’s a bit natural to be worried that the current extended economic upswing may be nearing its …
More info @ http://www.dailynews.com/business/20170417/southern-californias-foreclosure-mill-runs-at-one-tenth-its-peak-pace
In Southern California’s six counties, 12,435 foreclosure filings were made in the first quarter. That’s down 23 percent in a year and 64 percent below 10 years ago. Positive Real Estate News – http://www.facebook.com/pages/p/166701730035514
April 24, 2017 at 08:20PM

http://www.ocregister.com/2017/04/18/existing-house-price-nears-record-high/

Median price of existing single-family house in Orange County nears record high
The median price of an existing single-family house in Orange County came within 2 percent, or $15,500, of the all-time high set before the housing crash, the California Association of Realtors rep…
More info @ http://www.ocregister.com/2017/04/18/existing-house-price-nears-record-high/
http://www.ocregister.com/2017/04/18/existing-house-price-nears-record-high/ Positive Real Estate News – http://www.facebook.com/pages/p/166701730035514
April 24, 2017 at 08:19PM

Southern California’s commercial real estate market is booming, according to new report from Coldwell Banker Commercial. The company’s Blue Book market intelligence report for 2016 says the region is gaining traction in a variety of areas, ranging from business expansion and low office vacancy rates to an increase in land sales and strong activity at the ports of Los Angeles and Long Beach. The report notes, for example, that four new companies have leased nearly 40,000 square feet of research and development space in Pasadena over the past six months. And Kaiser Permanente continues to expand its office and medical space in the city. … Further west, Snap Inc., parent company of Snapchat, expanded and leased 300,000 square feet of space at Santa Monica Business Park. The report also highlights a variety of new construction projects that are underway in downtown Los Angeles, Hollywood and Playa Vista. Northrop Grumman, which was awarded an $80 billion contract to develop a long-range strike bomber, will be expanding its 1.5 million-square-foot facility in Palmdale with another 340,000 square feet. That’s expected to bring about 6,500 jobs to the Antelope Valley when the planes are built at Plant 42 in Palmdale.”

Report: Southern California’s commercial market is booming
Southern California’s commercial real estate market is booming, according to new report from Coldwell Banker Commercial.The company’s
More info @ http://www.dailynews.com/business/20170423/report-southern-californias-commercial-market-is-booming
Southern California’s commercial real estate market is booming, according to new report from Coldwell Banker Commercial.

The company’s Blue Book market intelligence report for 2016 says the region is gaining traction in a variety of areas, ranging from business expansion and low office vacancy rates to an increase in land sales and strong activity at the ports of Los Angeles and Long Beach.

The report notes, for example, that four new companies have leased nearly 40,000 square feet of research and development space in Pasadena over the past six months. And Kaiser Permanente continues to expand its office and medical space in the city.

Further west, Snap Inc., parent company of Snapchat, expanded and leased 300,000 square feet of space at Santa Monica Business Park. The report also highlights a variety of new construction projects that are underway in downtown Los Angeles, Hollywood and Playa Vista.

Northrop Grumman, which was awarded an $80 billion contract to develop a long-range strike bomber, will be expanding its 1.5 million-square-foot facility in Palmdale with another 340,000 square feet. That’s expected to bring about 6,500 jobs to the Antelope Valley when the planes are built at Plant 42 in Palmdale.” Positive Real Estate News – http://www.facebook.com/pages/p/166701730035514
April 24, 2017 at 10:53AM

Illinois housing market swings into spring with jump in home sales, prices
The Illinois housing market had a strong showing in March with home sales climbing 9.6 percent over previous-year levels and the statewide median price surging 10.7 percent higher,according to Illi…
More info @ http://blog.illinoisrealtors.org/2017/04/illinois-housing-market-swings-spring-jump-home-sales-prices/
Positive Real Estate News – http://www.facebook.com/pages/p/166701730035514
April 23, 2017 at 08:15PM

Salesforce Tower reaches its top height of 1,070 feet About 400,000 square feet of space remains to be leased One of the most visible symbols of San Francisco’s technology-fueled boom is nearing completion and reshaping the city’s skyline. Builders laid the final beam yesterday for Salesforce Tower, a $1 billion skyscraper that now stands as the tallest office building west of Chicago. The 1,070-foot (326-meter) tower is set to be finished this summer and the main tenant, Salesforce.com Inc., expects to start moving in by the end of the year. The Salesforce Tower under construction in San Francisco, on April 3.Photographer: Michael Short/Bloomberg Developers Boston Properties Inc. and Hines broke ground on the 1.4 million-square-foot (130,000-square-meter) tower in 2013, near the start of an economic surge that has sent real estate prices soaring. It’s the biggest and most ambitious project in what city Supervisor Jane Kim called San Francisco’s largest construction boom since the 1906 earthquake. It also shows the weight of Salesforce, founded 18 years ago and now the city’s biggest tech tenant. https://www.bloomberg.com/news/articles/2017-04-07/san-francisco-skyline-remade-by-tallest-west-coast-office-tower

San Francisco Skyline Remade by Tallest West Coast Office Tower
One of the most visible symbols of San Francisco’s technology-fueled boom is nearing completion and reshaping the city’s skyline.
More info @ https://www.bloomberg.com/news/articles/2017-04-07/san-francisco-skyline-remade-by-tallest-west-coast-office-tower
Salesforce Tower reaches its top height of 1,070 feet
About 400,000 square feet of space remains to be leased
One of the most visible symbols of San Francisco’s technology-fueled boom is nearing completion and reshaping the city’s skyline.

Builders laid the final beam yesterday for Salesforce Tower, a $1 billion skyscraper that now stands as the tallest office building west of Chicago. The 1,070-foot (326-meter) tower is set to be finished this summer and the main tenant, Salesforce.com Inc., expects to start moving in by the end of the year.

The Salesforce Tower under construction in San Francisco, on April 3.Photographer: Michael Short/Bloomberg
Developers Boston Properties Inc. and Hines broke ground on the 1.4 million-square-foot (130,000-square-meter) tower in 2013, near the start of an economic surge that has sent real estate prices soaring. It’s the biggest and most ambitious project in what city Supervisor Jane Kim called San Francisco’s largest construction boom since the 1906 earthquake. It also shows the weight of Salesforce, founded 18 years ago and now the city’s biggest tech tenant.
https://www.bloomberg.com/news/articles/2017-04-07/san-francisco-skyline-remade-by-tallest-west-coast-office-tower Positive Real Estate News – http://www.facebook.com/pages/p/166701730035514
April 09, 2017 at 07:04PM

IRVINE, Calif.–(BUSINESS WIRE)–CoreLogic® (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, today released its CoreLogic Home Price Index (HPI™) and HPI Forecast™ for February 2017 which shows home prices are up both year over year and month over month. CoreLogic issues February 2017 Home Price Index. Tweet this Home prices nationwide, including distressed sales, increased year over year by 7 percent in February 2017 compared with February 2016 and increased month over month by 1 percent in February 2017 compared with January 2017,* according to the CoreLogic HPI. The CoreLogic HPI Forecast indicates that home prices will increase by 4.7 percent on a year-over-year basis from February 2017 to February 2018, and on a month-over-month basis home prices are expected to increase by 0.4 percent from February 2017 to March 2017. The CoreLogic HPI Forecast is a projection of home prices using the CoreLogic HPI and other economic variables. Values are derived from state-level forecasts by weighting indices according to the number of owner-occupied households for each state. “Home prices and rents have risen the most in local markets with high demand and limited supply, such as Seattle, Portland and Denver,” said Dr. Frank Nothaft, chief economist for CoreLogic. “The rise in housing costs has been largest for lower-tier-priced homes. For example, from December to February in Seattle, the CoreLogic Home Price Index rose 12 percent and our single-family rent index rose 6 percent for all price tiers compared with the same period a year earlier. However, when looking at only lower-cost homes in Seattle, the price increase was 13 percent and the rent increase was 7 percent.” “Home prices continue to grow at a torrid pace so far in 2017, and these gains are likely to continue well into the future,” said Frank Martell, president and CEO of CoreLogic. “Home prices are at peak levels in many major markets and the appreciation is being driven by a number of dynamics—high demand, stronger employment, lean supplies and affordability—that will continue to play out in the coming years. The CoreLogic Home Price Index is projecting an additional 5 percent rise in home prices nationally over the next 12 months.” *January data was revised. Revisions with public records data are standard, and to ensure accuracy, CoreLogic incorporates the newly released public data to provide updated results. http://www.businesswire.com/news/home/20170404005287/en

CoreLogic US Home Price Report Shows Prices Up 7 Percent in February 2017
CoreLogic Home Price Index and HPI Forecast for February 2017.
More info @ http://www.businesswire.com/news/home/20170404005287/en
IRVINE, Calif.–(BUSINESS WIRE)–CoreLogic® (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, today released its CoreLogic Home Price Index (HPI™) and HPI Forecast™ for February 2017 which shows home prices are up both year over year and month over month.

CoreLogic issues February 2017 Home Price Index.
Tweet this
Home prices nationwide, including distressed sales, increased year over year by 7 percent in February 2017 compared with February 2016 and increased month over month by 1 percent in February 2017 compared with January 2017,* according to the CoreLogic HPI.

The CoreLogic HPI Forecast indicates that home prices will increase by 4.7 percent on a year-over-year basis from February 2017 to February 2018, and on a month-over-month basis home prices are expected to increase by 0.4 percent from February 2017 to March 2017. The CoreLogic HPI Forecast is a projection of home prices using the CoreLogic HPI and other economic variables. Values are derived from state-level forecasts by weighting indices according to the number of owner-occupied households for each state.

“Home prices and rents have risen the most in local markets with high demand and limited supply, such as Seattle, Portland and Denver,” said Dr. Frank Nothaft, chief economist for CoreLogic. “The rise in housing costs has been largest for lower-tier-priced homes. For example, from December to February in Seattle, the CoreLogic Home Price Index rose 12 percent and our single-family rent index rose 6 percent for all price tiers compared with the same period a year earlier. However, when looking at only lower-cost homes in Seattle, the price increase was 13 percent and the rent increase was 7 percent.”

“Home prices continue to grow at a torrid pace so far in 2017, and these gains are likely to continue well into the future,” said Frank Martell, president and CEO of CoreLogic. “Home prices are at peak levels in many major markets and the appreciation is being driven by a number of dynamics—high demand, stronger employment, lean supplies and affordability—that will continue to play out in the coming years. The CoreLogic Home Price Index is projecting an additional 5 percent rise in home prices nationally over the next 12 months.”

*January data was revised. Revisions with public records data are standard, and to ensure accuracy, CoreLogic incorporates the newly released public data to provide updated results.
http://www.businesswire.com/news/home/20170404005287/en Positive Real Estate News – http://www.facebook.com/pages/p/166701730035514
April 06, 2017 at 01:57PM