While inventory is low—it seems to be the characteristic of 2017—it’s hard to imagine more favorable housing market conditions for the housing industry. There’s been a lot of good factors we’ve seen in the last year: good job gains, historically low interest rates, and solid home appreciation. The only thing that we hope to see improve is construction of new home builds.
New data shows home equity reached an all new high in mid-2017, and is expected reach another all new high next year. Lots of equity-rich homeowners.
Want to know who locks their doors the most? Well, there’s a list for that and the Southeast region is the most unwelcoming of unwanted guests, with the highest percentage of Americans who always lock their doors at 81%. Fun fact No. 1: those with large dogs are less likely to lock their doors. Fun Fact No. 2: Those who live in an apartment are more likely to lock their doors. All comes down to how safe does one feel and maybe proximity to neighbors.
Mortgage Applications for last week barely rose but the Purchase Index was up 5%.
Initial Jobless Claims for last week dropped and were reported at only 239K.