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Luxury Homes Are in High Demand
Source: Keeping Current Matters --- As people realize their needs are changing, some are turning to luxury housing to find their dream home. Investopedia helps define what pushes a home into this category. In a recent article, they point out that a luxury home isn’t...
Are home prices about to fall?
Source: Housing Wire --- We are at the point of the economic cycle where I really just get two questions: Are we going into recession and are home prices about to fall? I am going to do my best to try to make sense of what is happening with the housing market right...
What Are the Best Options for Today’s First-Time Homebuyers?
Source: Keeping Current Matters --- If you’re looking to buy your first home, you’re likely balancing several factors. Because both mortgage rates and home prices have risen this year, it costs more to buy a home than it did even just a few months ago. But that...
Should I Sell My House? 6 Signs It’s Time
Source: Redfin --- As much as you love your home, there may come a time when you start thinking: Should I sell my house? According to the National Association of Realtors®, homeowners tend to stay in a house about ten years before they sell. Think that sounds...
Rental Market Tracker: Typical U.S. Asking Rent Surpassed $2,000 for First Time in May
Source: Redfin --- The median monthly asking rent in the U.S. surpassed $2,000 for the first time in May, rising 15% year over year to a record high of $2,002. That’s on par with April’s annual increase of 15%, but a slowdown from March’s 17% gain. “More people are...
7 Tragic Mistakes Pretty Much All First-Time Homebuyers Make After Moving In
Source: Realtor --- First-time homebuyers who manage to snag a house today have every reason to be excited. Congratulations! Yet once you move in and start decorating, watch out: A whole lot can go wrong. When it comes to feathering their nest, homeowners rarely get...
Would-Be Homebuyers Feeling Squeeze of Higher Home Prices and Mortgage Rates
Source: Fannie Mae --- WASHINGTON, DC – The Fannie Mae (FNMA/OTCQB) Home Purchase Sentiment Index® (HPSI) remained relatively flat in May, decreasing by only 0.3 points but inching nearer its 10-year- and pandemic-low of 63.0 from April 2020. Surveyed consumers...
Housing inventory is still at a crisis level
Source: Housing Wire --- Blink and you’ll miss your dream home. So few single-family homes are for sale in America that just two months of inventory is available across the top 100 metro areas in the country, a historic low. That’s according to Black Knight, which...
Over Half of U.S. Buyers Report Crying While Looking for a Home in 2022
Source: World Property Journal --- According to a new Zillow survey, over 50% of U.S. home buyers say the process left them in tears, with Gen Zers and millennials -- many of whom are first-time home buyers - far more likely to cry at least once during their...
Home Affordability Has ‘Collapsed’ in 2022. What To Expect Next, According to BofA
Source: Realtor --- The double whammy of surging mortgage rates and skyrocketing home prices has led to “collapsed” housing affordability in America, according to Chris Flanagan’s team at BofA Global Research. The situation has gotten so bad that it now compares to...
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