Langgle’s Lookout: Real Estate News in a Minute

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FHFA: Home prices increase again, rise 1.3%

Home prices increased only 1.3% in Q1 of 2016, however this is the 19th consecutive quarterly price increase!

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Top 5 reasons some homeowners are still underwater [Infographic]

A RealtyTrac analysis shows the number of underwater homes dropped from nearly 13 million in 2012 to 6.7 million in the first quarter of 2016, a reduction of nearly 50%.

However, 12% of homes with a mortgage are still underwater, but with nationwide home prices rising 47% since bottoming out in February 2012, why are there still so many underwater borrowers?

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First-time homebuyer share grows despite tough market conditions

Although the inventory may be low and home prices are on the rise, the first time homebuyer share of home purchases increased again, according to Campbell/Inside Mortgage Finance HousingPulse

First time homebuyers increased this month to 38.9%, up from 38.1% last month and 37.2% last year

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California home sales off to slowest start since 2008

California January through April’s home sales were down 4.5% annually to 117,235, the lowest level for that time frame since 2008, according to PropertyRadar.

In April alone, single-family home and condominium sales totaled 35,978, an increase of 5.8% from March, but down 8.3% from last year’s 39,219. This represents the lowest sales volume for April since 2011.

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