Top 12 Apps for Homeowners and Renters 

More than 77 percent of people own a smartphone.1 The average person checks their smartphone 46 times a day, with people under the age of 24 checking it an average of 74 times a day.1 We check it while we’re waiting in line and during our leisure time, whether we’re scrolling through social media, reading emails or getting up-to-date on the latest news.

Smartphones are not only a useful tool for communication. With the following apps, you can get organized (whether you plan to buy or sell), save money, learn about the homes in your neighborhood and get inspired for your next renovation project. If you’re like 81 percent of people, you have your smartphone with you during most of your waking hours; let it help you stay organized and make your life easier.3

Apps For Homeowners: Get Renovation Inspiration

These apps not only offer ideas for your next remodel or home décor project, some of them even give you a preview of what your home may look like once it’s finished.

1.) Houzz (Free)

The Houzz app is the number one app for home design and it’s no wonder; the app gives you access to all the inspiration, blogs and design ideas from the Houzz site on your phone or tablet. The app features View in My Room 3D, which allows you to view products in your home before you buy. Just take a photo of the space and a 3D version of the product will appear. Browse products, save photos of designs you’d like to view later and connect with local professionals in your area. Whether you’re gathering ideas for your next renovation and décor project or you’re just browsing, the Houzz app will satisfy all your design needs.  (Android, iOS)

2.) iHandy Carpenter ($1.99)

Make sure the photos, shelves, mirrors and other artwork you hang are even and aligned with this helpful app. It’s an all-in-one tool kit that features a plumb bob, surface level, bubble level bar, ruler and protractor. No need to purchase these tools separately; just hold your smartphone up to the wall and the app will take care of the rest.  (iOS, Android)

3.) Color911 ($3.99)

If you’re thinking of changing the color scheme of your home or want to find the right shades for lamp shades, rugs or throw pillows to match your vintage sofa, the Color911 app provides pre-selected color palettes to match any color scheme. Take a photo of the room or the furniture and the app will create a custom palette full of complementary colors. Write notes about your palette and organize it all into folders to share with family, friends or your design professional.  (iOS)

Bonus Apps for Homeowners:

AroundMe (Free)

Hungry and looking for a local hotspot? Meeting friends at a coffee shop nearby? Or just need to find the closest ATM? AroundMe allows you to search for the nearest restaurants, banks, gas stations, book a hotel or find a movie schedule close to where you live. Open the app and start learning more about your neighborhood. (iOS, Android, Windows)

BrightNest (Free)

From keeping things clean to making them colorful, Brightnest, developed by Angie’s List, is loaded with suggestions on how to make your home a better place to live. With categories of customized tips (money-saving, cleaning, eco-friendly, healthy, cooking, and creative) there are plenty of great ways to pull inspiration from the app. BrightNest will help you tackle important home tasks with easy-to-follow instructions, a personal schedule and helpful reminders. (iOS, Android, Web)

Apps For Sellers: List & Sell Your Home Quickly

Are you a homeowner who is thinking of selling? If you’re preparing to sell, you know there are a lot of tasks to complete before putting your home on the market. These apps help you manage your to-dos so you can list and sell your home more efficiently with fewer distractions.

4.) Homesnap (Free)

Using the Homesnap app, you can snap a photo of any home, nationwide, to learn more about it. When you’re ready to sell, snap a few of the homes in your neighborhood to find out their valuation. This app isn’t perfect, which is why you should always consult with a local real estate agent. However, it can give you a general idea of the value of your home compared to others in the neighborhood. (iOS and Android devices)

5.) Docusign (Free)

Use the DocuSign app to complete approvals and agreements in hours—not days—from anywhere and on any device. Quickly and securely access and sign any documents. The benefit to using the app (over your desktop computer) is you will receive push notifications when a document is waiting for your signature and you can view and organize all your docs on-the-go. Using the easily downloadable app, receive and sign documents for free. You can receive and sign documents for free, but will need a paid account to send documents; pricing starts at $10 a month. (iOS, Android, Windows, Web).

6.) Wunderlist (Free)

Designed for use on the Web and mobile devices, Wunderlist is a well-designed to-do list and task management program that makes it easy to create a list and add tasks, due dates and reminders. Organize your ideas or focus into separate lists or create tasks within one list. You can also email them with whomever you collaborate, such as a spouse or your real estate agent. (Android, iOS, Windows Phone, Web)

Bonus App for Sellers:

Real Estate Dictionary (Free)

Not sure what all those industry specific terms mean? Search thousands of words and phrases from real estate, mortgage, and financial dictionaries for clear, in-depth definitions. This is a handy app for anyone who’s buying or selling and wants to learn more about the process. (iOS, Android)

Apps For Renters: Get Ready to Buy

Not ready to buy a home just yet? These apps will help you get into the perfect rental while you save money, build a budget and get on track for homeownership.

7.) Mint (Free)

Do you know where your money goes each month? Manage your bills, budget and credit score all in one place. Mint is a free app that helps you view your complete financial picture and track your spending. We recommend this app to anyone, but it’s especially useful for renters who need to crack down on their spending in order to save for a down payment. Use Mint to look for areas you can cut spending in order to save a little extra each month. (iOS, Android)

8.) Acorns ($1 a month to start)

Acorns is modernizing the practice of saving loose change with their automated savings tool. The app rounds up your purchases on linked credit or debit cards, then sweeps the change into a computer-managed investment portfolio. Acorns is free for four years for college students and everyone else pays $1 a month until their account balance hits $5,000, then 0.25% of their account balance per year. This is a useful tool for those who have a hard time saving. (iOS, Android)

9.) Neighborhoods & Apartments

Built for the on-the-go apartment hunter, this app from Walk Score takes the hassle out of finding your next home or apartment and helps you live near the people and places you love. They collect listings from top rental listing sites and we like them because they share how walkable each address is, determined by access to public transit, things to do, bike trails, shorter commutes, etc. (iOS, Android)

Bonus Apps for Renters:

Wally (Free)

Wally is a personal finance app that helps you compare your income to expenses, so you can understand where your money goes each month, and set and achieve goals. Wally lets you keep track of the details as you spend money: where, when, what, why, & how much. We love how simple it is to set a personalized savings target and scan receipts. (iOS, Android)

Credit Karma (Free)
If you’re preparing to buy, boosting your credit score is likely a goal you’ve set. Credit Karma is a free app that allows you to safely monitor your score and receive updates on ways you can improve it over time. They provide financial calculators and educational articles to help you better understand what credit is all about. Check as often as you want, and it doesn’t hurt your score. (iOS, Android, Web)

Apps for Buyers: Find the Perfect Home

When you’re ready to buy, there are several apps that can help you stay on top of the process. Whether you’re browsing online at different neighborhoods and homes and can’t seem to remember where all your saved data and information went or you want to save an important task or a neighborhood or listing clipped from the Web, these apps help you keep it all straight.

10.) Dwellr (Free)

Dwellr is run by the U.S Census Bureau and provides demographic information about the neighborhoods you are considering moving to. You get a variety of education/school, real estate, transportation, and population statistics to give you an idea of what it would be like living there. If you want to get the feel of a potential neighborhood, then Dwellr may just be the app to help you find the best home. (iOS, Android)

11.) Evernote (Free for the Basic version, $34.99 per year for Plus and $69.99 per year for Premium)

Collect ideas, notes and images in one place to access later on your computer, tablet or smartphone. Categorize your notes so you can find them quickly and easily and share them with others in a group notebook. Add the Web Clipper feature to your browser and clip and save articles, blogs and images from the Web. Whether you’re collecting research on a business idea or you’re looking for inspiration for a home renovation, Evernote can help you keep it all together. (Web, iOS, Android) 

12.) Mortgage Calculator (Free)

There are a lot of free mortgage calculators available for download that will help you quickly determine what your monthly payment will be while you’re house hunting. We recommend picking your favorite and using it to help you shop in your price range. These numbers should be used as a guide, work with your agent and mortgage professional to learn exactly what type of loan you’ll qualify for. (Web, iOS, Android)

Bonus App for Buyers:

Google Maps (Free)

Google Maps is a must-have for anyone who’s house hunting. When you’re ready to visit a property or check out a neighborhood, you can use Google Maps to give you turn by turn directions to the house. You can use their satellite view to get a good idea how far important things like schools, parks, shopping, bus stops, and restaurants are to a home you are interested in and check out the other houses on the street. (Web, Android, iOS,)

Ready to move beyond the app?

If you’re thinking of buying or selling your home, or know someone who is, keep us in mind because we’re happy to help!

Source: 1. Pew Research Center, January 12, 2017    http://www.pewresearch.org/fact-tank/2017/01/12/evolution-of-technology/

  1. Deloitte, 2016 global mobile consumer survey: US edition https://www2.deloitte.com/us/en/pages/technology-media-and-telecommunications/articles/global-mobile-consumer-survey-us-edition.html
  2. Gallup, July 9, 2015 http://www.gallup.com/poll/184046/smartphone-owners-check-phone-least-hourly.aspx
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The 5 Greatest Benefits of Home Ownership

Benefits of Home Ownership

Keeping Current Matters

Recently, Freddie Mac reported on the benefits of homeownership. According to their report, here are the five benefits that “should be at the top of everyone’s list.”

  1. Homeownership can help you build equity over time.
  2. Your monthly payments will remain stable.
  3. You may have some tax benefits.
  4. You can take pride in ownership.
  5. Homeownership improves your community.

Let’s expand on each of Freddie Mac’s points:

Homeownership can help you build equity over time.

Every three years, the Federal Reserve conducts a Survey of Consumer Finances in which they collect data across all economic and social groups. The latest survey, which includes data from 2010-2013, reports that a homeowner’s net worth is 36 times greater than that of a renter ($194,500 vs. $5,400).

In a Forbes article, the National Association of Realtors’ (NAR) Chief Economist Lawrence Yun reported that now the net worth gap is 45 times greater.

Your monthly payments will remain stable.

When you purchase a home with a fixed rate mortgage, the majority of the payment (principle and interest) remain constant. On the other hand, rents continue to skyrocket. Your housing expense is much more stable if you own instead of rent.

You may have some tax benefits.

According to the Tax Policy Center’s Briefing Book -“A citizen’s guide to the fascinating (though often complex) elements of the federal Tax System” – there are several tax advantages to homeownership.

Here are four items from the Briefing Book:

  • Mortgage Interest Deduction
  • Property Tax Deduction
  • Imputed Rent
  • Profits from Home Sale

You can take pride in ownership.

Most surveys show that a major factor in purchasing a home is the freedom you have to design the home the way you want. From paint colors to yard accessories, you don’t need a landlord’s permission to make the house feel like a home.

Homeownership improves your community.

The National Association of Realtors recently released a study titled ‘Social Benefits of Homeownership and Stable Housing.’ The study explained:

“Homeownership does create social capital and provide residents with a platform from which to connect and interact with neighbors…Owning a home means owning part of a neighborhood, and a homeowner’s feelings of commitment to the home can arouse feelings of commitment to the neighborhood, which, in turn, can produce interactions with neighbors.”

Bottom Line

There are many benefits to homeownership. That is why it is still a critical piece of the American Dream.

via The KCM Crew

Top 5 Home Design Trends of 2017

The current trends are all about utilizing rich color, maximizing texture and creating comfortable interiors you can’t wait to relax in. Use these trends to get inspired to makeover your home’s interiors and create spaces you love that also appeal to your personal style. Remember, if you plan to sell in the next few years, you may want to avoid doing anything dramatic and instead incorporate small changes that would appeal to buyers.

Why are these trends gaining popularity?

The underlying theme of these trends is creating a home environment you love; one that appeals to your emotions and feels like a retreat from the stresses of the world. Although the home is a place where you can relax and spend time with loved ones, work expectations are beginning to blur the line between work and home. Even if people don’t work from home specifically, many are stretching their work hours into their evenings and weekends to complete work projects.

It’s no wonder the Nordic concept of hygge (most often pronounced “hoo-gah”) has become a hot trend. A centuries-old concept, incorporating hygge in the home means creating simple and comfortable spaces that make you feel cozy and safe and appeal to your senses.1 The emphasis is on simplicity and fostering positive experiences, whether you’re spending time with family, reading a good book or catching up on work emails.

WARM AND RICH COLORS.

Whether you want to play with a bold color or stick with neutrals, one thing is clear—paint is the foundation of a great design. Painting your interiors has a return on investment of about 75 percent and is a relatively inexpensive project to complete, costing between $25 to $100 for paint alone.2 If you’re thinking of refreshing your home’s interiors with a coat of paint, popular colors include warm taupe, fresh green and dark tones. These colors are popular choices because they evoke feeling of warmth and coziness when you walk into a room.

Wondering how to pair these colors? Taupe is the perfect alternative to traditional neutrals, such as gray and white, and goes well with cool blues, earthy greens and deep shades of wine. Green goes well with other earthy shades, such as copper and moss, as well as deep plum and bright pink. If you’re hesitant to paint your walls green, incorporate it into your home by way of accent pillows, rugs, lamps, vases and other accessories or add a few house plants.

If you’re interested in adding more drama to a room, include bold, dark colors. Dark shades add color and sophistication to any space. Plum and dark gray pair well with pale blues, warm whites and light gray.

Try one of these Colors of the Year:

Poised Taupe – Sherwin Williams

Greenery – Pantone

Shadow – Benjamin Moore

RICH MATERIALS.

Lux materials create a space in which you can’t wait to kick off your shoes and relax at the end of the day. The Danes use a mixture of materials and pattern as a way of adding character and interest; however the overall look still needs to adhere to a color palette to prevent it from looking distracting.

Natural materials and textures allow you to maximize the comfort of the bedroom, living room or family room. Wood accents give rooms an earthy feel. Incorporate rustic wood sculptures, trays and furniture into your space. Choose furniture made with sustainably harvested wood certified by the Forest Stewardship Council (FSC) or use reclaimed wood for an environmentally friendly alternative.

If natural elements aren’t your style, but you want to add more visual interest to your room, try mixing patterns. Although it may have been avoided in the past, mixing stripes, florals and geometric prints actually help ground a space as long as the patterns feature complimentary colors or different shades of one color. If you’re worried about going overboard and making your room look “busy,” focus your mix in one area of the room. For example, add throw pillows in a variety of patterns to your sofa.

GOING GREEN.

According to a recent study from the American Psychological Association, people are more stressed than ever, with 24 percent of adults reporting they’re experiencing “extreme stress.”3

Top sources of stress include work and money. By incorporating small changes, like making your house more energy efficient, you can start to lower your bills and get back to relaxing and enjoying life like the Danish do (who consistently top the polls as the happiest people).

Save money on your energy bills by sealing the “envelope” of your home, which includes the windows and doors, walls, floor and roof. The better insulated your home is, the less heat will escape and the lower your energy bill (and stress level) will be.

The most heat loss occurs through the walls of the home: up to 35 percent of heat loss, to be exact.4 Ceramic insulating paint is a space-inspired coating of paint mixed with ceramic compounds and applied to interior or exterior surfaces. It seals your walls and prevents heat from escaping, which means reduced energy bills all year long.

THE FUNCTIONAL HOME OFFICE.

Twenty-four percent of employed people do some or all of their work at home.5 Since more people are working remotely than ever, home offices are becoming more popular. Even if you don’t plan on working from home, a home office gives you a place to pay bills, work on personal projects, plan your family’s schedule and more. Home offices tend to be multifunctional, serving as a guest room when family and friends visit, and have the potential to meet other needs that arise.

The key idea behind hygge is to enjoy the environment around you and for each room to be a sanctuary to sink into at any given moment. Your home office is no exception! Maximize your productivity, efficiency and focus by painting the walls shades of green or blue.6 If space is an issue, create a nook by installing docking and tech cabinets that are big enough to store a printer and other small office equipment and files without taking over the room.

If you don’t have room in your home for an office, look no further than your backyard. Shedquarters, small structures or sheds built in the backyard for use as an office or home-based business, are an attractive option for homeowners who don’t have a room to dedicate to an office and don’t wish to add on their homes. while the jury is out on how much value these structure add to a home, they can convert easily into a storage shed if you plan to sell in the future.

SPLURGING ON KITCHEN RENOVATIONS.

The kitchen is often the busiest, most hectic room in the house and one of the top renovation projects with a high return on investment.7 We do more than cook meals there; it’s where homework is done, bills are paid, weeks are planned and more.

Kitchen remodels consistently show a respectable return on investment. According to the 2017 Cost vs Value Report from Remodeling magazine, a minor kitchen remodel touts an 80.2 percent return on investment.8 You don’t need to overhaul your entire kitchen to make it more hygge. Smaller additions can transform it into a relaxing and functional space you enjoy spending time with friends and family in.

What does a “minor kitchen renovation” entail? In addition to replacing the fronts of your cabinets and drawers, it also includes replacing out-of-date appliances and fixtures. You may also consider replacing countertops. Quartz and quartzite are becoming more common as are other green laminate options, including ones that mimic stone, wood and concrete. Laminates install in less time, often over the existing countertop, make it an ideal choice for busy homeowners as well. Other hot kitchen trends include incorporating sustainable materials like bamboo into your countertops and floors and water filtration systems.

Want to improve the look and feel of your home’s interior? Are you thinking of upgrading to a home that better fits your changing needs? Please call us—we’d love to help you achieve all of your home-related dreams.

Sources:

  1. Time, Hygge, the Nordic Trend That Could Help You Survive 2016
  2. Quality Smith
  3. American Psychological Association, 2015 Stress in America
  4. Department of Energy
  5. Department of Labor
  6. Entrepreneur, How the Color of Your Office Impacts Productivity
  7. com
  8. Remodeling Magazine, 2017

7 Reasons Home Buyers Prefer New Homes vs. Used

Today’s new homes offer more benefits than ever before. Here’s a quick list from NewHomeSource.com giving 7 reasons why so many homebuyers prefer new homes to used houses:

1) All New, Under Warranty: A used home likely has tired products that may soon need replacing. Your new home — and the products that comprise it — are brand-new and under warranty. What’s the cost to replace a roof, appliances, countertops or a water heater on a used home? Those components of your new home feature the latest designs and building materials and should offer you years of comfort and enjoyment before needing replacement.

2) Energy and Cost Savings: Today’s new homes are far more energy efficient than homes built just five years ago. Versus homes built ten or 20 years ago, it’s game over, advantage new. Why settle for drafty, energy-wasting, single-pane windows in a used home? Many new homes offer double or even triple-pane windows. Special window coatings and inert gases between the layers of glass are often available, saving you even more energy and money in both heating and cooling season. In fact, a 2016 survey by the National Association of Homebuilders found that 90 percent of respondents listed Energy Star appliances as an essential or desirable feature in their most-wanted list.

3) Comfort and Indoor Air Quality: Today’s new homes meet stringent energy standards and codes not in place in the past. They combine high-performance energy efficiency with state-of-the-art ventilation and air filtration. The result is year-round, draft-free comfort and higher indoor air quality.

4) Low Maintenance: New cars today are computer-designed and computer-equipped. That’s why they perform much more reliably than a car that’s 15 or 20 years old. Homes are the same. Today’s new homes have open floor plans and high ceilings that reflect the way we live today. They’re also made of cutting-edge building products that require less care and maintenance. Another plus? The latest building systems and components are designed and engineered to work together.

5) Advanced Technology and Design: It’s possible to replace all of the single-pane windows in a resale home with today’s high-performance windows. It’s also possible to add insulation to a used home. However, it’s very expensive to replace dated appliances, cabinets and countertops in a used home — and you still won’t have the high ceilings you dream of on the first floor of an older two-story home. All are reasons to build your new home your way, to reflect the way you live today.

6) Safety: State-of-the-art circuit breakers. Electric garage door openers with infrared beams that stop if a tricycle or child is too near. High-efficiency furnaces and air conditioners that use the latest environmentally-friendly coolants. Cabinets, carpets and paints that use fewer volatile organic compounds, so that you and your family can breathe easier.

7) That New Home Feel: A used home was someone else’s dream, not yours. It reflects their choices and family memories. You may learn to love avocado-green appliances (and you may be willing to scrub stained countertops or grease-encrusted ovens and cooktops) but more and more people prefer that never lived-in feel.

After all, when was the last time you went to a department store and selected used clothes? Or visited a car dealer and paid more for a used car than a new car?

New homes offer the latest designs, style, comfort and quality. They provide a care-free lifestyle so that you can enjoy your home, not work on it.

Please give ‘BURG Development a call and learn about the NEW homes they have for sale in Northeast St. Petersburg.  727-571-5861

via Jay McKenzie who heads up content and social media for NewHomeSource.com and Builders Digital Experience.

Florida Existing Home Sales Flatten

Prices, however, continue rising.

Florida’s housing market continued to report a tight supply of homes for sale and rising median prices in February, according to the latest housing data released by Florida Realtors®.

Sales of single-family homes statewide remained relatively flat last month, totaling 18,033, down 0.5% compared to February 2016.

“Florida’s economy is growing, with more jobs being created,” said 2017 Florida Realtors President Maria Wells, broker-owner with Lifestyle Realty Group in Stuart. “And a growing economy boosts the state’s housing sector as well. However, many local markets are reporting low inventory of for-sale homes at a time of increasing buyer demand.”

The statewide median sales price for single-family existing homes last month was $225,000, up 12.5% from the previous year, according to data from Florida Realtors research department in partnership with local Realtor boards/associations. The statewide median price for townhouse-condo properties in February was $167,500, up 11.7% over the year-ago figure. February marked the 63rd month in a row that statewide median prices for both sectors rose year-over-year. The median is the midpoint; half the homes sold for more, half for less.

via Builder Magazine

http://www.ForeSiteResidential.com

Do You Want to Buy Your Dream Home?

Want to Buy Your Dream Home?

If you are debating purchasing a home right now, you are probably getting a lot of advice. Though your friends and family will have your best interest at heart, they may not be fully aware of your needs and what is currently happening in the real estate market.

Ask yourself the following 3 questions to help determine if now is a good time for you to buy in today’s market.

1. Why am I buying a home in the first place?

This is truly the most important question to answer. Forget the finances for a minute. Why did you even begin to consider purchasing a home? For most, the reason has nothing to do with money.

For example, a survey by Braun showed that over 75% of parents say “their child’s education is an important part of the search for a new home.”

This survey supports a study by the Joint Center for Housing Studies at Harvard University which revealed that the top four reasons Americans buy a home have nothing to do with money. They are:

  • A good place to raise children and for them to get a good education
  • A place where you and your family feel safe
  • More space for you and your family
  • Control of that space

What does owning a home mean to you? What non-financial benefits will you and your family gain from owning a home? The answer to that question should be the biggest reason you decide to purchase or not.

2. Where are home values headed?

According to the latest Existing Home Sales Report from the National Association of Realtors (NAR), the median price of homes sold in December (the latest data available) was $232,200, up 4.0% from last year. This increase also marks the 58th consecutive month with year-over-year gains.

If we look at the numbers year over year, CoreLogic forecasted a rise by 4.7% from December 2016 to December 2017. On a home that costs $250,000 today, that same home will cost you an additional $11,750 if you wait until next year.

What does that mean to you?
Simply put, with prices increasing each month, it might cost you more if you wait until next year to buy. Your down payment will also need to be higher in order to account for the higher price of the home you wish to buy.

3. Where are mortgage interest rates headed?

A buyer must be concerned about more than just prices. The ‘long-term cost’ of a home can be dramatically impacted by even a small increase in mortgage rates.

The Mortgage Bankers Association (MBA), the National Association of Realtors, and Fannie Mae have all projected that mortgage interest rates will increase over the next twelve months, as you can see in the chart below:

Mortgage Rate Projections

Bottom Line

Only you and your family will know for certain if now is the right time to purchase a home. Answering these questions will help you make that decision.

via Keeping Current Matters 

Case-Shiller Says the Housing Market Has Now Officially, Completely Recovered… Do You Agree?

David Blitzer, S&P Dow Jones Indices managing director and chairman of the Index Committee, explains the economic factors that led to this recovery and looks at the price gains seen in the top 20 cities. He also points out the uncertainty that exists following the election of President Trump.wooden-block-house-on-money

[HousingWire.com]Home prices increased in November, making the argument the housing market recovered completely from the housing crisis.

According to the latest data released Tuesday by S&P Dow Jones Indices and CoreLogic, the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, which covers all nine U.S. census divisions, increased 5.6% annually, up from 5.5% from the previous month.

The 10-City composite increased by 4.5% from November 2015, up from 4.3% in October. Similarly, the 20-City Composite increased 5.3% year-over-year, up from 5.1% the month before.

Source: S&P Dow Jones Indices, CoreLogic
Source: S&P Dow Jones Indices, CoreLogic

“With the S&P CoreLogic Case-Shiller National Home Price Index rising at about 5.5% annual rate over the last two-and-a-half years and having reached a new all-time high recently, one can argue that housing has recovered from the boom-bust cycle that began a dozen years ago,” said David Blitzer, S&P Dow Jones Indices managing director and chairman of the Index Committee. “The recovery has been supported by a few economic factors: low interest rates, falling unemployment, and consistent gains in per-capita disposable personal income.”

“Thirty-year fixed rate mortgages dropped under 4.5% in 2011 and have only recently shown hints of rising above that level,” Blitzer said. “The unemployment rate at 4.7% is close to the Fed’s full employment target. Inflation adjusted per capita personal disposable income has risen at about a 2.5% annual rate for 30 months.”

Seattle, Portland and Denver reported the highest annual gains among the top 20 cities for each of the past 10 months. In November, Seattle came in first with an increase of 10.4%, followed by Portland at 10.1% and Denver at 8.7%.

Monthly, the National Index increased by 0.2% in November. The 10-City Composite and 20-City Composite also both increased 0.2% for the month. After seasonal adjustment, however, the National index increased 0.8% and the 10-City and 20-City Composites increased 0.9% month-over month. After seasonally adjustment, all top 20 cities saw an increase in home prices.

“The home prices and economic data are from late 2016,” Blitzer said. “The new Administration in Washington is seeking faster economic growth, increased investment in infrastructure, and changes in tax policy which could affect housing and home prices.”

“Mortgage rates have increased since the election and stronger economic growth could push them higher,” he said. “Further gains in personal income and employment may increase the demand for housing and add to price pressures when home prices are already rising about twice as fast as inflation.”

Thank you Kelsey Ramirez with HousingWire.com