New-Home Sales Surprise

DAILY REAL ESTATE NEWS | New-home sales rebounded last month, led by a strong upswing in the West. Sales of new, single-family homes nationwide ticked up 4.3 percent in November to a seasonally adjusted annual rate of 490,000 units, the Commerce Department reports, with home sales up 14 percent year-over-year.

“It is encouraging to see new-home sales continue to tick upward,” says Tom Woods, chairman of the National Association of Home Builders. “Builders are also increasing their inventory even as they face difficulties accessing lots and labor.”

Across the country, sales posted the biggest increase in the West, which saw new home sales rise 20.5 percent month-over-month in November. Sales also posted a 4.5 percent increase in the South. On the other hand, new-home sales plunged 28.6 percent in the Northeast and dropped 8.6 percent in the Midwest.

4 Real Estate Trends That Will Dominate 2016

Realtor Magazine ® | This year may have marked the best for housing since 2007, but the market will likely get even rosier in 2016, according to a recent real estate forecast by realtor.com®. Realtor.com® highlights the following housing predictions for 2016:

1. ‘Normal’ is coming.
Expect a healthy growth in home sales and prices – at a slower pace than in 2015. “This slowdown is not an indication of a problem-it’s just a return to normalcy,” writes Jonathan Smoke, realtor.com®’s chief economist

2. New-home construction focuses more on affordability.
In 2016, builders will likely shift to more affordable housing to cater to the entry-level buyers. In addition, credit access is improving enough to make the first-time buyer segment more attractive to builders.

3. Higher mortgage rates.
Mortgage rates will likely be volatile in 2016. But the recent move by the Federal Reserve to guide interest rates higher should push mortgage rates higher in the new year than the historical lows they have been at for years – although so far, there has been very little change.

4. Rents to go up even higher.
Rental costs are skyrocketing, and the costs are likely to only go up in the new year. More than 85 percent of the nation’s markets have rents that exceed 30 perc

Keep Your Home Safe in Winter Weather

realtor.com® | The winter season is a prime time for house fires. Half of all destructive fires tend to occur in December, January, and February, according to the National Fire Protection Association.

But most home fires are preventable. Here are some leading culprits to watch for:

Space heaters.
These devices are the leading cause of house fires in the winter. Make sure the heater is at least three feet away from anything flammable. Plug it directly into the outlet, not an extension cord. And do not go to bed with the spacer heater still on, experts warn

Cooking.
The leading cause of house fires year-round is stovetop cooking. Interestingly, the majority of these fires occur within the first 15 minutes of cooking. Never leave the house when the oven or stove is on.

Electrical cords.
Overloaded or damaged circuits cause 3,300 fires annually. The laptop, iPhone charger, toaster, and other electrical appliances all squeezed onto the same power outlet with extension cords and adapters can be dangerous. Feel your cords to make sure they’re not warm (if they are, it’s a sure sign they’re overloaded and you need to unplug some). Also, never run extension cords under rugs or in walls, and don’t connect several in a row.