Morning Minute: U.S. Pending Home Sales Move Higher in July

Pending home sales in July rose 7.4 percent higher compared to last year and were marginally higher — up 0.5 percent — compared to last month, according to the latest Pending Home Sales Index from the National Association of REALTORS®. Watch a short video on pending sales trends with NAR Chief Economist Lawrence Yun.

Other stories making the news:

In the Bloomberg article, “Donald Trump Wants to Raise His Own Taxes, But Would He Kill the 1031 Real Estate Break?,” Daniel L. Goodwin, Chairman and CEO of The Inland Real Estate Group, Inc., advocates for protecting the 1031 “like-kind” exchange.

“Our tax code is clearly in need of an overhaul, but it should not come at the expense of provisions that fuel economic growth on Main Street,” Goodwin told Bloomberg in a statement. “A 1031 exchange, for example, enables a business or investor to defer—not dodge—the capital gains tax on an asset sale.”

Infographic: NAR’S Latest Existing Home Sales Report – KCM blog

Here come the 75 million homebuying Millennials – HousingWire

C.A.R. Donates to Boys & Girls Club as Part of New NAR Initiative – Chicago Association of REALTORS®

Morning Minute: Access to mortgage lending is improving, NAR survey finds

U.S. lenders eased standards in the second quarter of of this year, expanding access to mortgage loans for more qualified borrowers, according to a new survey of lenders by the National Association of REALTORS® (NAR). Read more in the NAR blog post, “Spring’s Mortgage Market Thaw Continues This Summer.

In other headlines:

MBA: Housing demand to surge over next 10 years – HousingWire

U.S. housing market seen strong enough to handle Fed rate hikes: Reuters poll – Reuters

Housing, Consumer Confidence Are Bright Spots in U.S. Economy – Wall Street Journal

Morning Minute: NAR identifies six factors to watch in housing

U.S. home sales and prices rose higher in July and the National Association of REALTORS® (NAR), highlights six factors affecting the housing market today including all-cash sales accounting for less of the market and still low housing inventory. Click here to read more and see the other four factors from NAR.

In other headlines:

CoreLogic launches “homeowner intelligence tool” for lenders – HousingWire

DeKalb County home sales up 25.8 percent – Daily Chronicle

Morning Minute: What’s a hot home feature in Illinois? Finished basements

Homeowners in different states value different features in their homes. In North Carolina, front porches are a must-have while homeowners in Kansas place a high value on homes with wet bars. Realtor.com looked at single-family property listings in the 50 states to determine some of the most popular features geographically.

In Illinois, finished basements topped the list with 11 percent of listings including the feature. Read more in the realtor.com blog post, “Wet Bars, Hot Tubs, and More: What Home Feature Rules in Your State?

In other headlines:

Housing market remains strong – Pantagraph

Elmhurst proposed capital budget focuses on stormwater projects – Chicago Tribune

Borrowers Make Fewer Late Payments – REALTOR® Magazine