New Listings Jump 5.1%; Price Adjustments Moderate:  More homeowners are listing their homes for sale, which is opening up options for anxious home buyers who have faced fierce competition the last few months over a limited housing stock.  New listings rose 5.1% in the 50 largest metros.  Also, as more inventory and new listings arrived on the market in August, the rate of sellers making price adjustments has also begun to approach more normal levels, realtor.com® notes. 

Property Taxes Are About to Rise:  Skyrocketing home prices over the last year may soon hit current homeowners in the form of property taxes. Housing experts are predicting property taxes nationwide to climb higher in 2021 than the 4% uptick in 2020.  according to realAppeal, property taxes nationwide are expected to increase by about 6.5% in 2021.  The 2020 housing boom may take a couple years to fully translate into dramatically higher property tax bills because counties usually reassess property values every few years.

Home Equity Hits Record High:  Housing equity surged nearly 40% compared to a year ago and is at a record high, according to a new report from Black Knight, Inc. The average mortgage holder now has $173,000 in equity.

Mortgage Demand Hits Two-Month Low:  Another sign the housing market may be cooling: Loan applications for home purchases—a gauge of housing demand—are now 18% lower than a year ago, the Mortgage Bankers Association reported Wednesday.  More listings are coming on the market, offering home buyers more choices. But some potential buyers are still getting priced out. Home prices are nearly 18% higher than a year ago, according to the National Association of REALTORS®. 

Owners Turn to Appliance Upgrades to Boost Home Value:  Three out of four homeowners would rather fix or replace appliances than accept a lower offer when selling their home, according to a new survey of about 1,000 consumers from Cinch Home Services.  On average, homeowners believe upgrading their home’s appliances will increase their home’s value by $13,668. 

Building Material Costs Continue to Surge:  A recent decline in lumber prices is helping to mitigate building costs, but that effect is being offset by numerous increases in other building materials that are surpassing records. Home building materials have climbed by up to 19% over the past year, according to the Bureau of Labor Statistics Producer Price Index.  Building materials that have seen the largest increases include:  steel mill products, asphalt, plastic water pipe, fertilizer, veneer lumber, concrete, copper pipe.

Home Repairs Lead to Couple Spats:  Many couples who live together admit to fighting over household repairs—some even breaking up over them, according to a new survey from Cinch Home Services, a home warranty company.  Nearly 52% of about 1,000 respondents said they fought with their partner over home repairs.