Buyers beware: It’s a seller’s market and homeowners are holding firm on the price. More than half—or 52%–of about 1,000 real estate professionals recently surveyed believe the biggest challenge that home sellers will face in 2021 is the temptation to overprice their homes due to the hot market conditions. The homebuying frenzy since the pandemic,…

Sixty percent of home buyers and sellers say they’re optimistic about the housing market in 2021, a leap above 2020’s numbers, according to a new survey commissioned by Redfin. High earners and homeowners are the most upbeat, shows the survey of more than 1,400 people, which was conducted in November and December. Nearly three-quarters of respondents…

Amazon is following the lead of other tech giants by looking for ways to help solve affordable housing woes that plague areas where it has offices. Tech companies have long been blamed for fueling surging home prices that push out local residents who seek more affordable housing. Amazon.com Inc. announced it would commit more than…

Mortgage financing giants Fannie Mae and Freddie Mac have tightened rules on buildings that offer too many short-term rentals in vacation locales, drawing objections from the real estate industry. The new rules could make it tougher for some buyers to get a mortgage on condos in resort areas, and many real estate professionals aren’t happy…

The Midwest Real Estate Data (MRED), one of the nation’s largest multiple listing services covering much of Illinois and parts of Wisconsin and Indiana, announced 2020 was a record year in sales from its subscribers. Agents through MRED’s marketplace conducted more than $43 billion of business in 2020, the most since MRED was founded in…

Homeownership is a better deal than renting, despite rapidly escalating home prices over the last few months, according to a new study released by ATTOM Data Solutions, a real estate research firm. Owning a median-priced three-bedroom home is more affordable than renting a three-bedroom property in 63%—or 572—of 915 U.S. counties analyzed. Record low mortgage…

Mortgage rates started the year with a new record low. The 30-year fixed-rate mortgage dropped to a 2.65% average this week, the lowest since Freddie Mac began tracking such records more than 50 years ago. “Despite a full percentage point decline in rates over the past year, housing affordability has decreased because these low rates…

As remote work has grown and more Americans are no longer bound down to a long commute, more people are being drawn to the idea of a second home. Builders are responding to the uptick in interest. Single-family construction in second-home markets rose at a 13.6% average rate in the third quarter annually compared to…

Commercial property owners are hopeful that tenants, many of whom canceled leases amid the pandemic, will return in 2021. But owners realize they may need to make building improvements to address the current reality regarding COVID-19. Plainfield, Ill.–based Cicero Construction Group, which offers design services and construction management, recently compiled insights to help building owners…

For several housing markets, their growth in 2020 is expected to continue this year, particularly in cities where tech and government jobs are more plentiful. Realtor.com® recently analyzed the 100 largest U.S. markets to find those poised for the most growth in 2021. NAR’s Prediction: 10 Markets to Lead Post-Pandemic Rally “Economic momentum from the thriving…