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DS News August 2017

DSNews delivers stories, ideas, links, companies, people, events, and videos impacting the mortgage default servicing industry.

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96 THE BIG FINISH WRAP YOUR HEAD AROUND THE MARKET'S LEADING INDICATORS WRAP YOUR HEAD AROUND THE MARKET'S LEADING INDICATORS Rising home prices, mortgage rates, and less available inventory are causing homebuyers to miss out on getting the most bang for their buck this house-hunting season. Although finding the right deal to purchase a home has become puzzling for homebuyers, the combination of home prices and local wages are making some markets more appealing than others. First American's Real House Price Index uses a weighted repeat-sales house price index that measures the price movements of single-family residential properties by time and across geographies, adjusted for the influence of income and interest rate changes on consumer house- buying power. Homebuyers must think about many aspects before considering which city and state to call home. Purchasing power is in the hands of the buyer, if the homebuyer chooses a more affordable city to live in. 96 RANK CITY 1 CLEVELAND, OHIO 2 COLUMBUS, OHIO 3 MEMPHIS, TENNESSEE 4 CINCINNATI, OHIO 5 ST. LOUIS, MISSOURI 6 CHICAGO, ILLINOIS 7 PITTSBURGH, PENNSYLVANIA 8 CHARLOTTE, NORTH CAROLINA 9 HARTFORD, CONNECTICUT 10 ATLANTA, GEORGIA 47.04 9% $123,525 54.22 9.61% $160,000 56.4 13.86% $151,950 58.92 5.99% $135,000 65.05 11.87% $143,773 65.08 11.59% $227,000 65.47 4.03% $145,000 69.4 17.38% $205,000 69.79 3.67% $191,400 70.61 REAL HOME PRICE INDEX YEAR-OVER-YEAR CHANGE MEDIAN SALES PRICE 13.14% $196,500 SOURCE: FIRST AMERICAN APRIL 2017 REAL HOUSE PRICE INDEX TOP 10 CITIES WITH GREATEST HOME PURCHASE POWER

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