A big, hearty welcome to STRIBLING to the Compass Family, one of the most respected and admired group of agents and leaders in the entire industry, and the 5th largest brokerage in New York. Stribling has always placed the agent front and center and they possess a charecteristic not often associated with real estate brokerage ......class. We look forward to working with our new Stribling associates and learn from them and prosper together. WELCOME!
DID YOU KNOW? Weekly mortgage application volume surged 18.6% from the previous week and 28% from a year ago, according to the Mortgage Bankers Association.
Refinance applications jumped 39% for the week to the highest level since January 2016. Volume was 58% higher than a year ago, when interest rates were higher.
Mortgage applications to purchase a home increased 3% and were 10% higher than a year ago. (CNBC)
DID YOU KNOW? 16% of Gen Xers (born 1965 - 1979) and 15% of younger boomers (born 1955 - 1964) bought a multigenerational home between July 2017 and June 2018. 12% of all buyers bought multigenerational homes, which are defined by the U.S. Census Bureau as properties that house more than two generations of adults under one roof or grandparents living with grandchildren under the age of 25. (Inman)
"The Tech Giants Are “critical” to The Health of The Real Estate Market and The Economy Because They Lease Large Amounts of Office Space in U.S. Cities. that Concentrated Demand Makes Tech Stocks and Real Estate Markets More Closely Correlated than They Have Ever Been."
- Barry Sternlicht
DID YOU KNOW? Older millennials’ median household income in 2017 was $101,200 and they purchased homes with a median price of $274,000, similar to Gen Xers and younger boomers.
- Younger millennials’ median household income was $71,200 and they bought homes at a median $177,000.
- 47% of younger millennials, reported having student loan debt compared to 42% of older millennials, 27% of Gen Xers, 10% of younger boomers and 4% of older boomers.
- Baby boomers as a whole were the 2nd-largest share of homebuyers at 32%.
- Baby-boomers were the largest share of homesellers at 43%.
- 63% of all buyers were married couples, while 18% were single females, 9% were single males and 8% were unmarried couples.
- The share of married couples was highest among older millennials at 69% and lowest among the youngest buyers at 54%.
- Among sellers overall, 71% were married couples, 17% were single females, 6% were single males and 4% were unmarried couples. (NAR)