More than two-thirds of U.S. housing markets were not affordable in the first quarter of this year -- including all major counties in California
Tag Archive: Daren Blomquist
The average U.S. down-payment size reached a new high in the third quarter, with Silicon Valley homebuyers putting down 12 times the national amount.
San Jose and San Francisco once again had the most equity-rich homeowners in the U.S. in the third quarter. In other news, lenders think more first-time homebuyers will enter the market next year with the help of low-down-payment mortgages. Get these and other hot housing headlines in Pacific Union's weekly Real Estate Roundup.
Some welcome news for Bay Area home shoppers: Affordability increased in every local county in the third quarter. Unfortunately, the region's home price growth continues to outpace wage growth for the most part.
A pair of housing market forecasts call for slowing price appreciation next year, while mortgage rates have risen for the first time in almost two months. Catch these and other headlines of interest in Pacific Union's weekly Real Estate Roundup.
To successfully close a sale, Bay Area homebuyers are putting down much larger down payments than the national average, and a substantial number are leveraging co-borrowers to help them qualify for the mortgage.
The second quarter was an excellent time to sell a U.S. home, with sellers pulling in the largest gains in a decade. That was particularly true here in the Bay Area, where sellers again realized the biggest returns in the country.
Although mortgage rates remain low by historic standards, the increases that began last year had a significant impact on both refinancing and loan-origination activity in the first quarter of this year.
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