RISMedia's Real Estate Magazine

APR 2017

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.

Issue link: http://remag.rismedia.com/i/805428

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Page 16 of 134

12 April 2017 RISMedia's REAL ESTATE {Did You Know?} #REalityCheck Americans are more confident about their housing prospects than ever before, with more believing now is "a good time" to buy or sell a home, according to Fannie Mae's Home Purchase Sentiment Index® (HPSI), which hit high point after high point in February. Forty percent of Americans surveyed in the Index believe now is a good time to buy a home, up 11 points from January, while 22 percent believe now is a good time to sell, up 7 points to an Index high. More than one million homeowners with negative equity came up from under the surface in 2016, but some are still treading water, according to Zillow's recently released 2016 Q4 Negative Equity Report. Just 10.5 percent of homeowners now owe more on their mortgage than the value of their home, a dip from 13.1 percent in 2015. The metropolitan areas with the highest percentage of homeowners still in negative equity are Chicago, Ill., (16.5 percent); Virginia Beach, Va. (16.4 percent); Baltimore, Md. (14 percent); Cleveland, Ohio (13.7 percent); and Milwaukee, Wis. (13.5 percent). According to ATTOM Data Solutions' 2016 Year-End U.S. Home Flipping Report, flips rose 3.1 percent from 2015 in 2016, with gross profits averaging $62,624. The markets with flips earning $100,000 or more in profits were concentrated in California: San Jose ($145,750); San Francisco ($140,000); Los Angeles ($127,000); San Diego ($111,000); Oxnard-Thousand Oaks-Ventura ($105,000); and Vallejo-Fairfield ($101,000). According to a recently released report by the National Association of REALTORS® (NAR), 81 percent of Americans say their pets play a role in their housing situation—so much so that 89 percent say they would not give up their pet due to a housing restriction. What's more, 19 percent of Americans say they would consider moving for their pet, while 12 percent have moved for their pet.

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