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New Home Sales for October beat expectations, hitting a 10-year high and an increase in inventory of new homes on the market. Most sales were in the Northeast and Midwest. Also notable, sales were up an impressive 19% from a year ago. What might this mean for the coming winter, spring, and summer markets? Paul has our thoughts in today’s Mortgage Minute.

New single-family homes are continuing to shrink in size as builders begin to focus more on the entry-level market.

Independent mortgage lenders are increasingly becoming more active while traditional banks lose activity in their mortgage lending division. One reason for this might be options available as independents are “expanding credit availability to borrowers with lower FICO scores.”

Looking to upgrade your home but want to make sure it pays off? Here’s the top 5 improvements suggested:

1. Temp-controlled square footage.
2. Fresh coat of paint—think “neutral, cheerful, light, and bright.”
3. Manicured landscaping—think simple curb appeal, potted plants near the front door, or fresh mulch; no need to go overboard.
4. Cosmetic kitchen fixes—yes, stainless steel appliances are not just a fad it’s the trend folks want.
5. Smart storage space—try installing an extra closet rod or built-in bookshelves or window seats with shelving/storage underneath (every inch counts).

Grand Rapids, MI ranks No. 4 for U.S. News and World Report’s Best Places to Retire in 2018, thanks to their growing and improving health care service providers and lower housing costs than other cities. Sarasota won the top spot—warm weather wins.

Looking at 75 of the largest metro cities, Milwaukee, WI won the No. 1 spot for having the fastest growing homeownership rate at 68.7%, up 11% over the last 3 years.