RISMedia's Real Estate Magazine

NOV 2014

Real Estate magazine is the industry's leading source for real estate news and information since 1980. Published monthly by RISMedia, Real Estate magazine offers timely and relevant real estate news to the industry's top brokers and agents.

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6 November 2014 RISMedia's REAL ESTATE Home Equity Lines of Credit Jump 21 Percent through First Half of 2014 RealtyTrac® recently released its frst-ever U.S. Home Equity Line of Credit Trends Report, which found that in the 12 months ending June 2014, a total of 797,865 Home Equity Lines of Credit (HELOCs) were originated nationwide, up 20.6 percent from a year ago and the highest level since the 12 months ending June 2009. The report also shows HE- LOC originations accounted for 15.4 percent of all loan origina- tions nationwide during the frst eight months of 2014, the high- est percentage since 2008. Case-Shiller Numbers Refect Slowdown in Housing Gains but Upward-Trending Prices The nation's housing market cooled off faster than expected this summer, according to re- cently released fgures from S&P/Case-Shiller Index, however, home prices increased 5.6 per- cent in July from the year before. That's down from 6.3 percent in June and their slowest pace since November 2012. The slow- down was broad-based, with price gains cooling off in 19 of the 20 cities Case-Shiller surveys. While gains are slowing, prices are still trending upward. From June to July, they climbed 0.2 percent nationally, after seasonal adjust- ments were factored in. The Anatomy of Today's Renter According to a recent survey from Homes.com and ForRent.com, the demographic makeup of the dominant renter persona is single, young females. Of the survey participants, 80 percent were female, one-third were mil- lennials (age 18-33) and 45 per- cent live alone. However, on the fip side, baby boomers, those aged 50 and over, accounted for nearly 30 percent of the survey participants. Further, 44 percent share the rental space with their spouse, signifcant other, room- mates or children. When it comes to tech preferences, over 80 per- cent of renters reported that they use their desktop computer dur- ing their rental search. More than half also used their smartphones and 20 percent used a tablet de- vice to fnd a place to call their own. {REtrends}

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