Pending home sales fell at the end of 2018, as consumers became increasingly concerned about the economy and heightened home prices, according to a newly released housing index from the National Association of REALTORS®.NAR’s Pending Home Sales Index—a forward-looking indicator based on contract signings—decreased 2.2 percent to a reading of 99 in December. Contract signings are down 9.8 percent year over year.“The stock market correctio
Pittsburgh, Cleveland, and Oklahoma City are the best cities for first-time home buyers hoping to jump into homeownership, according to a new study released by LendingTree.The three cities ranked on top of a new list released from LendingTree that stacked the 50 largest metros up against each other based on how friendly they are to first-time home buyers. Cities were ranked on six main factors, including down payment amount, the share of buyers u
People who have gone through the homebuying process are often eager to give advice. But too often, these so-called insider tips may very well be outdated.Realtor.com® recently highlighted some of the most common advice home buyers may hear from their peers that no longer applies in the current housing market, including:“Wait for spring.”Buyers shouldn’t feel like they’ll be at an advantage if they wait for the busiest season in
In a legal showdown, the state of California is suing one of its own cities because it says the city has failed to build enough affordable housing for its residents. In turn, the city of Huntington Beach is suing the state, claiming the state’s housing law is “unconstitutional.”Calif. Gov. Gavin Newsom says the state sued Huntington Beach because it has harmed “California families’ ability to find affordable places to live and has drive
Real estate indicators are starting to shift in favor of home buyers as the housing market sets its sights on spring. Mortgages are getting cheaper, housing inventories are growing, and home prices are rising at a slower pace.Mortgage rates have been holding steady for the last few weeks. The 30-year fixed-rate mortgage averaged 4.45 percent last week, according to Freddie Mac. Late last year, mortgage rates were nearing the 5 percent t
Fixed-rate mortgages have been inching lower in recent weeks, but the percentage of borrowers being tempted by the even lower rates of adjustable-rate mortgages is rising. ARMs posted the highest share of originations in December since Ellie Mae, a maker of software used to process mortgage applications, began tracking them in 2011.The share of ARMs reached 9.2 percent in December 2018, up from a 5.6 percent share a year prior, accordin
Many homeowners are still seeing big profits when they go to sell. Homeowners who sold in the fourth quarter of 2018 sold for an average of $54,500 more than their original purchase price, according to a new report released by ATTOM Data Solutions, a real estate data firm. That is an average of a 30.2 percent return on the original purchase price, up from an average of 25.6 percent a year prior, the report says.But in some markets, home sellers a
Young adult home buyers aren’t afraid to buy a home in need of some major TLC. Sixty-seven percent of millennial home shoppers who participated in a recent Clever Real Estate survey of 1,000 U.S. residents in the market for a home said they would put in an offer on a property in need of major repairs.Millennial home buyers are taking a long-term view when buying, the Clever Real Estate survey found. They also tend to value safe neighborhoo
National Association of REALTORS® Senior Vice President of Government Affairs Shannon McGahn said a deal reached between President Donald Trump and congressional leaders to reopen the federal government for 21 days while they negotiate a long-term funding agreement is a welcomed development.“Although the direct impact on real estate markets has so far been limited, the broader economic impacts of the shutdown, if it persists, will be very dama
Moving may help homeowners see higher profits from the sale of their property, suggests a new study that links homeowners’ tenure in their homes to price appreciation. Cities where residents live in their homes for the shortest amount of time tend to see more than double the appreciation experienced by homeowners who stay put the longest, a new study from LendingTree finds.The study from LendingTree ranks cities by how long homeowners have live
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