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Victor Whitman is chief reporter at Scotsman Guide Media.
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Year to date through August 2018, home-price
growth continued to rise at the fastest pace in
the lowest-price tier, although the rate of growth
was slowing, Black Knight reported. Bottom-tier
properties averaged 7. 5 percent price growth over
the period, whereas prices rose by 3. 4 percent in the
highest price tier, the company said.
“While economic growth posted the
fastest back-to-back pace in four
years in the third quarter [of 2018],
residential investment [sales] declined
for the third-consecutive quarter.”
Chief economist, Fannie Mae
Chief Economist, National Association of Home Builders
“What is going to drive the builder
perspective is both the demographics
and the fact that more and more
millennials are going to be moving
into the new-home market.”
Nearly 14. 5 million property owners as of the
end of this past September had built at least
a 50 percent equity stake in their homes, and
thereby could rightly call themselves “equity
rich,” according to Attom Data Solutions. Among
cities, San Jose, California, had the most equity-rich properties. Among the states, California was
tops — with 42. 5 percent of mortgaged properties
having a value that is at least 50 percent more than
the loan balance, Attom Data said.
Source: Black Knight
Six-month Home-Price Gains by Price Tier
Through August 2018
Top Cities Ranked by the Percentage of Equity-Rich Properties*
Equity rich is defined as any mortgaged home with
a loan-to-value ratio of 50 percent or lower.
*Data current as of Q3 2018.
Source: Attom Data Solutions