Fewer and fewer homes may be for sale, but where they are flying off the shelves is out West, according to new pending home sales.
HomeownershipDid you know that the average down payment among first–time homebuyers is 6% and it’s 13–14% for repeat buyers, according to the National Association of Realtors®? It’s possible to put down even less. More
Rising mortgage rates, overheating home prices, pre-election jitters — reasons to lose confidence in the housing market are growing.
Rising buyer demand and increasingly short supply are lighting a fire under the U.S. housing market. Home prices in August surged on a monthly basis by the largest margin in 11 years, and the annual price gain of 6.2 percent is a sharp acceleration compared to the past two years, according to CoreLogic. “Housing values […]
Homebuyers retreated in August, unenthused by the meager supply of homes for sale and by accelerating prices. Signed contracts to buy existing homes fell 2.4 percent for the month to the second lowest level of the year, according to a monthly index from the National Association of Realtors (NAR). July’s reading was revised down as […]
Frank Tarala is a lifetime Detroiter. As a boy, he used to go downtown with his father to see Tigers games. They would always go directly home afterward. There was nothing downtown to keep them there. Now, Tarala’s daughter works downtown and wishes she could afford to live there. “She’s a millennial, and they absolutely […]
Home prices are heating up again, and incomes are not catching up, because even though household incomes jumped sizeably last year, home prices rose far faster. The result: One in four housing markets is now less affordable than its long-term historical norm and 63 percent of U.S. counties are seeing home affordability worsen compared to […]
Housing demand is rising rapidly, but a key cog in the wheel to homeownership is in deep trouble. The people most needed to close the deal are disappearing. Appraisers, the men and women who value homes and whom mortgage lenders depend upon, are shrinking in numbers. That is causing growing delays in closings, costing buyers […]
A London townhouse on Mayfair’s ultra-exclusive Park Lane is up for rent for £4,000 ($5,172) per week and looks set to go to a super-rich student from the Middle East. The newly renovated three-floored apartment — 80 Park Lane — is worth £12.5 million and is 3,540 square feet in area with three ensuite bedrooms. […]
Home prices continue to rise and now the gains are accelerating again. Short supply is the culprit in the hottest areas, keeping properties supremely pricey But supply isn’t terribly tight everywhere; that presents some enticing new opportunities for buyers. Some of the most up-and-coming metropolitan housing markets are actually some of the most affordable. As […]