A growing number of Americans believe now is a good time to purchase a home as the real estate market heads into what is traditionally its busiest season of the year. In the first quarter of 2019, 37 percent of consumers said they “strongly believe” that now is a good time to buy, up from 34 percent in the last quarter of 2018, according to the National Association of REALTORS®’ latest Housing Opportunities and Market Experience Surve
How do the 50 biggest metros stack up for first-time home buyers? A new study from Bankrate.com, a personal finance website, ranked the largest metros in the U.S. based on factors such as affordability, culture, job market, and safety.Pittsburgh landed at the top of this year’s list, setting itself apart for its affordability and safety. “This study sheds a light on places that maybe most younger buyers or new families aren’t considering,
More potential home shoppers may be getting spooked by recent news headlines about the housing market, and they may be making them skittish. Sixty-two percent of surveyed home builders say “negative media reports” have made it problematic for them in attracting buyers this year, among the top concerns they identified to attract buyers, according to a survey by the National Association of Home Builders/Wells Fargo Housing Market Index.Other is
Investors are still finding the single-family rental market a lucrative business. The average annual gross rental yield for a single-family home (that is, the annualized gross rent income divided by the median purchase price) was 8.8 percent in the first quarter of 2019, up from 8.7 percent a year prior, according to ATTOM Data Solutions’ Q1 2019 Single-Family Rental Market report, analyzing 432 counties with populations of at least 100,000.“
Home sellers expecting the quickest sales may want to make sure the house is in tip-top shape for showings because a big week in the housing market is quickly coming. The best week to put a home on the market is March 31 to April 6, according to a new analysis from realtor.com®. Researchers analyzed the 50 largest real estate markets in the nation over the past three years to determine the best week to sell.During the week of March 31 to April 6
Home builders are lowering their prices to appeal to a growing number of home shoppers. In January, 66 percent of new single-family homes were priced between $200,000 and $400,000, compared with 22 percent of homes that were in the $400,000 to $750,000 range, according to U.S. Commerce Department data. A year ago, 51 percent of homes sold in the $200,000 to $400,000 range, while 29 percent sold in the $400,000 to $750,000 price points.
Americans who are self-employed and freelance or contract workers have long had to struggle to qualify for a mortgage compared with those with W-2 forms or pay stubs that lenders can use to verify their incomes. For the self-employed, the mortgage process can be time-consuming and cumbersome. Lenders often require extra paperwork, such as full documentation of tax returns from the last couple of years (not just the electronic copy submitted to th
Real estate pros often anxiously await for the spring selling season, a time known for an uptick in home sales. But will spring be as hot for the housing market this year as it has been in the past?Since the end of last year, home sales have slowed (a decline of 10 percent in December compared to a year prior), and properties have been sitting on the market for longer (46 days compared to 30 days a year ago).Nevertheless, Lawrence Yun, chief
Home shoppers are finding some of the lowest mortgage rates in more than a year.“Mortgage rates declined decisively this week amid various market reports, a strong bond auction, and further uncertainty around the Brexit deal, which all contributed to driving bond yields lower,” says Sam Khater, Freddie Mac’s chief economist. “At 4.31 percent, the average 30-year fixed mortgage rate is at its lowest since February of last year. While these
A pool could potentially boost a home’s sales price by nearly six figures in some locales, according to a new analysis by the real estate brokerage Redfin. In Los Angeles, for example, homes with pools sell for nearly $100,000 more than comparable homes without one.Swimming pools were found to be most valuable at resale in Los Angeles; Austin, Texas; and Orange County, Calif. All three of these metro areas saw pools add a premium of more than $
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