Real Estate News

Existing Home Sales Drop 1.5% In September

Published by Nikki Palmer on Wed, 10/26/2022 - 3:00am

The National Association of Realtors is reporting that existing home sales were down 1.5% in September to a seasonally-adjusted annual rate of 4.71 million (down 23.8% year over year). Total housing inventory at the end of September was 1,250,000 units, down 2.3% from August and down 0.8% from one year ago. Unsold inventory sits at a 3.2-month supply at the current sales rate with properties remaining on the market for around 19 days. The median existing-home price for all housing types in July was $384,800, up 8.4

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Average Long-Term US Mortgage Rates Rise This Week To 6.94%

Published by jason@omahadail... on Mon, 10/24/2022 - 1:00am

WASHINGTON (AP) — Average long-term U.S. mortgage rates inched up this week ahead of another expected rate increase by the Federal Reserve when it meets early next month.

Mortgage buyer Freddie Mac reported Thursday that the average on the key 30-year rate ticked up this week to 6.94% from 6.92% last week. Last year at this time, the rate was 3.09%.

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Rent Going Up? One Company’s Algorithm Could Be Why.

Published by Nikki Palmer on Thu, 10/20/2022 - 5:00am

Texas-based RealPage’s YieldStar software helps landlords set prices for apartments across the U.S. (David Schildman / The Daily Record)

On a summer day last year, a group of real estate tech executives gathered at a conference hall in Nashville to boast about one of their company’s signature products: software that uses a mysterious algorithm to help landlords push the highest possible rents on tenants.

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MLS Weekly Report Lincoln Oct9-Oct15

Published by Erin@omahadaily... on Tue, 10/18/2022 - 2:28pm

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MLS Weekly Report Omaha Oct9-Oct15

Published by Erin@omahadaily... on Tue, 10/18/2022 - 2:27pm

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‘Greenlining’ Fund Aims To Counter Ill Effects Of Redlining In Omaha

Published by Nikki Palmer on Thu, 10/13/2022 - 5:00am

Redlining is a discriminatory practice that puts services out of reach for residents of certain areas based on race or ethnicity. Due to discriminatory lending practices, homeownership and wealth in redlined communities is much lower than in non-minority communities.
(David Schildman / The Daily Record)

OMAHA — The nonprofit Front Porch Investments is preparing to launch a “Greenlining Fund” to help reverse the historic and ill effects of local redlining.

The organization, supported by major philanthropic foundations and the City of Omaha, describes the new program as a way to help low- to moderate-income families and individuals build wealth and stability.

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Black Women Endure Legacy Of Racism In Homeownership And Making Costly Repairs

Published by Nikki Palmer on Thu, 10/13/2022 - 3:00am

Yolanda, 61, owns a home in the predominantly Black 7th Ward neighborhood in New Orleans.

To fix her leaking roof in 2020, she had to borrow money.

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U.S. Construction Spending Up 8.5% Year-Over-Year

Published by Nikki Palmer on Thu, 10/13/2022 - 12:00am

The U.S. government is reporting that total construction spending in August, 2022 was at a seasonally adjusted annual rate of $1,781.3 billion, which is 0.7% lower than July’s revised estimate but is 8.5% higher than one year ago. Residential construction came in at a seasonally adjusted annual rate of $912.9 billion in August, which is 0.1% lower than July’s revised estimate.