First-time Buyers Are Back and New Regulations are on the Horizon
Posted by Brock Whisenhunt on
According to Agency Logic, existing home sales bounced back strongly in May as First-time buyers returned to the market. Also, according to Realtor.org, this fueled an overall increase in existing home sales to their highest level in nearly six years. Agency Logic goes on to say that “sales have now increased year-over-year for eight consecutive months and are 9.2 percent above a year ago.”
Obviously, this is one indicator that our economy is, at least, pointing in the right direction. But there are still challenges ahead, one of which is the impending implementation of the new Truth in Lending Act and Real Estate Settlement Procedures Act Integrated Disclosure, or TRID, regulation., which This act integrates existing disclosures required by RESPA…
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