Vacation Home Markets in the U.S. Remain Strong
Suburban Housing Shift Eases in the Third Quarter Based on new findings of the third quarter National Association of Home Builder’s vacation home Geography Index, the suburban shift for single-family home buying precipitated in large part by the onset of the COVID-19 pandemic last year continues. Yet new data reveals that higher density markets are…
Read More
Single Family Rents in the U.S. Increased 14 Percent Annually in May
Based on CoreLogic’s latest Single-Family Rent Index, U.S. single-family annual rent growth remained at a record high in May 2022, posting a 13.9% increase from May 2021. This growth matched April’s increase, representing the first time that price growth did not accelerate from the previous month since January 2021. Sustained high rent prices are partially…
Read More
Here’s what you need to know about reverse mortgages
With the stock market getting volatile but the housing market still hot, reverse mortgages have become a more attractive tool for older Americans who need cash for retirement but want to stay in their homes. Home Equity Conversion Mortgage loan volume was up 26% in March, according to data from the U.S. Department of Housing…
Read More
Big landlords jump into the homebuilding business as demand for single-family rentals surges
As demand for single-family rental homes surges, big landlords are jumping into the homebuilding business to shore up falling supplies. The push comes as more Americans have the flexibility to work from anywhere and are looking for larger spaces with outdoor areas. “This market is very undersupplied. There are not enough quality homes for the…
Read More
Home Prices Begin to Decline from Record Highs in the U.S.
Inflation, high mortgage rates leading to fewer sales and softening home prices nationwide Based on a new report from national property broker Redfin, the median sale price for U.S. homes came down 0.7% from its record-breaking June 2022 peak during the four weeks ending July 10, 2022. Sellers’ asking prices also came down 3% from…
Read More
As mortgage rates rise, here’s how to decide whether you should buy a home or rent
It’s becoming harder to afford a home. Prices are up almost 20% year over year, and mortgage rates are soaring. The rate for a 30-year fixed loan is now 5.57%, according to Mortgage News Daily, up from 3.29% at the start of the year. At the same time, consumer prices on everything from gas to food are also accelerating, costing…
Read More
New Program Gives Florida Homeowners Solar Panels And Battery Backup For $0
Power companies are not happy that homeowners are taking advantage of huge government solar programs to save $1,000’s in electricity costs. These Solar Programs may cover up to 100% of the installation cost. Why now, you ask? Good question. In just the past year or two, solar panels and battery storage costs have dropped fast, allowing solar to become…
Read More
These are the 10 states with America’s most stable housing markets
The three most important things in real estate: location, location, location. And the U.S. housing market is in a weird place right now. Mortgage rates are nearly double what they were a year ago, reflecting the Federal Reserve’s campaign to rein in inflation. But they have also been volatile, including some sharp declines from week to week.…
Read More1 in 4 U.S. Home Sellers Nationwide Now Lowering Asking Prices in June
Fast rising mortgage rates, economic uncertainty negatively impact home sales and prices mid 2022 According to national property broker Redfin, nearly two-thirds (61.5%) of homes for sale in Boise, ID had a price drop in June 2022.That’s the highest share of the 97 U.S. metros in Redfin’s analysis. Price drops have become a common feature…
Read More
Residential Rents Nationwide Rise 14 Percent Annually in June
Smallest Rental Rate Increase Since October 2021 National property broker Redfin is reporting this week that residential rent increases tapered off in June 2022, with the national median asking rent rising 14% from a year earlier–the smallest annual increase since last October. Asking rents were up 0.7% from May, the smallest month-over-month gain since the…
Read More