RE/MAX Industry Report January 2014

Authentisign ID: FD792EFB-7EBD-4902-9E05-45817AC4E0B0

National Housing Stats Existing Home Median Sales Price

Source: NAR

U.S. Monthly Foreclosure Filings

Source: RealtyTrac

(in dollars)

0

50,000

100,000

150,000

200,000

250,000

0

20,000

40,000

60,000

80,000

100,000

120,000

140,000

160,000

180,000

200,000

Authentisign ID: FD792EFB-7EBD-4902-9E05-45817AC4E0B0

Market to Get Boost From Boomerang Buyers?

Housing, Confidence Gain as Economy Improves

Some housing experts are calling 2014 the year of the "boomerang buyer.“ Revisions made over the summer to Federal Housing Administration guidelines and technical updates in November to Fannie Mae loan approval systems have opened the door for some former homeowners to buy again just one year after foreclosure. Read the DS News story.

U.S. Housing Starts Jump to 6-Year High

Housing to Stay on Track Despite Fed Taper

The housing market recovery may be strong enough to charge ahead despite the Federal Reserve’s decision to scale back its stimulus program. Analysts say that rising mortgage rates may not dent the recovery as much as economists fear. Read the MoneyWatch story.

Home prices in most U.S. cities are increasing more slowly than earlier in the year, and consumer confidence is rising, in dual signs that expectations of a stronger economy in 2014 are taking root. The Conference Board's Consumer Confidence Index rose 6.1 points in December, recouping almost all of the drop it sustained during the October government shutdown. Read the USA Today article.

U.S. housing starts surged to their highest level in nearly six years in November, a sign of strength in the housing market. The Commerce Department said housing starts jumped 22.7%, the biggest increase since January 1990, to a seasonally adjusted annual rate of 1.09 million units. Read the Reuters story.

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Chinese Developers to Increase Investment in Foreign Real Estate

On Feb. 1, Janet Yellen will become the chairman of the Federal Reserve. Considering that the Federal Reserve System employs more Ph.D. economists than any other institution on earth, you’d think it would have monetary policy down pat. It doesn’t. And as the new chair, just about every issue Yellen will confront is fraught with uncertainty. Read the Bloomberg story.

The Big Issues Facing Fed Chair Janet Yellen

Chinese developers have been purchasing big real estate projects in the world’s most important cities in the past year. They’re expected to continue the shopping spree in 2014, with more Chinese groups following the trend. Read the Forbes article.

HARP Lives Up to the Hype

Of all of the various government housing programs run by various federal agencies -- HARP is the most effective and efficient one out there. Nearly 3 million homeowners, including at least 900,000 who owe more than their homes are worth, have been able to refinance their loans. Read the Bloomberg story.

Shadow Inventory Falls to Lowest Level Since August 2008

According to CoreLogic: as of November 2013, shadow inventory was at 1.7 million properties, down 24% compared to one year ago, and at the lowest level since August 2008. U.S. foreclosure inventory was also down 34% from November of 2012. Read the CoreLogic report.

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