Mortgage

Home prices rise at strongest pace in nearly 3 years

SOURCE S&P Dow Jones Indices and CoreLogic

Credit: KARL GELLES, USA TODAY

Paul Davidson , USA TODAY Published 10:53 a.m. ET May 30, 2017 | Updated 8:36 a.m. ET May 31, 2017

These are heady days for American home sellers, with a report Tuesday showing that housing prices in March recorded their largest annual increase in nearly three years.

But the gains are inflicting more financial pain on home buyers, though the price run-up has fallen well short of the annual double-digit increases during the mid-2000s housing bubble.

Home prices across the U.S. were up 5.8% annually in March, up from 5.7% the prior month, according to the S&P CoreLogic Case-Shiller national index.Driving the increase were a longstanding shortage of both new and existing homes combined with steady job and income growth that’s prompting more Americans to buy houses for the first time or trade up.

The pace of price gains has accelerated in 2017 after year-over-year increases held fairly steady at a healthy 5% or so from 2014 to 2016.

“Home buyer demand is sky high, inventory levels are near rock-bottom and home prices keep rising,” says Svenda Gudell, chief economist of real estate research firm Zillow.

CFPB Interactive Calendar- Timing of Disclosures

TIMING CHANGES

Have you been trying to untangle the web of timelines for disclosing?

Will the timing changes impact when my real estate transaction can close?
Consummation is the day the borrower becomes legally obligated under the loan, which would be the date of signing, even if the loan has a rescission period. It is important to note the definition of consummation can be different than the closing date as defined in the purchase agreement where the buyer becomes contractually obligated to a seller on a real estate transaction.

The tool below will assist you in determining the earliest consummation date.

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Update on Rancho Cucamonga Neighborhood Parks and Street Lighting Needs | November 22, 2013

OPEN TO ALL!

Meeting Nov 22nd, 2013
8:30- 9:30 am

Rancho Cucamonga residents and businesses value the City’s many parks and trails, as well as its street lighting and landscaping. Unfortunately, many of the City’s assessment districts have insufficient funds to adequately maintain local parks, trails, greenery, and street lighting on the City’s west side. City staff is starting work to make homeowners and local businesses throughout the City aware of these funding shortfalls and service needs. This issue has been talked about in other areas of town in recent years, with property owners in the Victoria, Terra Vista and Caryn neighborhoods approving new assessment rates to preserve their parks and other services.The City is communicating with property owners in the western and southern areas of Rancho Cucamonga and getting feedback on their priorities for neighborhood parks and street lighting. Ten parks and over 9,000 street lights are maintained by these assessment districts, as well as trails and landscaping. City staff will be making a presentation about this issue at the November 22 meeting.

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