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Home Prices Up 13%, Pending Sales Rise 38%

Sun, 10 January 2021  |  housing 

The median home sale price increased 13% year over year to $319,000 during the 4-week period ending January 3, according to a new report from Redfin.

Below are other key housing market takeaways for 400+ U.S. metro areas during the 4-week period ending January 3.

• Pending home sales were up 38% year over year.
• New listings of homes for sale were up 7% from a year earlier—the smallest increase since July.
• Active listings (the number of homes listed for sale at ... Read More

  Majority of Americans Plan to Spend Stimulus Check on Household Bills

  Fri, 08 January 2021  |  spending 

  A new survey from doxoINSIGHTS looks at consumer sentiment toward the U.S. government’s $600 stimulus checks. With more than half of all Americans believing that they will receive a stimulus check, the latest doxoINSIGHTS survey shows that the majority of Americans (59%) plan to use the money to pay household bills, with utilities; cable/internet; rent; mortgage; and mobile phone bills topping the list. While 90% of consumers believe the funds will help their financial health in the new year, recentl... Read More

  Investors Believe We're In a Stock Market Bubble

  Fri, 08 January 2021  |  stock market investing 

  A new study from E*TRADE indicates an increasingly bullish investor mindset despite volatility and recession concerns, and two-thirds believing the stock market is in bubble territory.

  “Investors see that unprecedented fiscal stimulus, the Fed’s easy monetary policy, the vaccine rollout, and relatively healthy earnings are all positives for the market,” said Mike Loewengart, Managing Director of Investment Strategy at E*TRADE Financial. “Yet at the same time there is awareness that some, if not all, of these factors may already be priced in, and market corrections are a ma... Read More

  Consumer Confidence in Housing Falls Again as COVID-19 Pandemic Surges

  Fri, 08 January 2021  |  housing 

  Consumer confidence in housing fell in December despite record low mortgage rates. The Fannie Mae Home Purchase Sentiment Index^® (HPSI) fell for the second straight month in December to 74.0, a 6.0 point decline from November. Five of the six HPSI components decreased month over month, and consumers reported a substantially more pessimistic view of homebuying and home-selling conditions, which drove the relatively large monthly change. Year over year, Read More

  Lack of Financial Knowledge Cost Americans $415 Billion in 2020

  Thu, 07 January 2021  |  financial literacy 

  In a recent survey of U.S. adults, the National Financial Educators Council (NFEC) asked a single question: "During the past year (2020), about how much money do you think you lost because you lacked knowledge about personal finances?" On average, the respondents estimated their lack of money management knowledge had cost them $1,634 over the course of the year, or a total of $415 billion for the U.S. as a whole.

  The 2020 data ($1,634 per adult) is a sharp increase from 2018 ($1,230) and 2019 ($1,279) surveys. The total cost for the adult population in 2019 (240 million) was $... Read More

  Number of Homes for Sale Hits an All-Time Low

  Thu, 07 January 2021  |  housing 

  The number of homes for sale in the U.S. reached an all-time low in December, dipping below 700,000 for the first time as buyers remained active throughout the holiday season, according to realtor.com®'s Monthly Housing Trends Report released today. Due to unusually strong demand, home prices were up double digits compared to last year, however, the median listing price came down to $340,000 from a summer high of $350,000.

  "The shortage of homes for sale has been an ongoing issue for the last couple of years, but in December the combination of the holiday inventory slowdown and... Read More

  
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