Inventory on the market today is low, especially among existing homes in the entry and middle-level tiers of the market. It is hovering well below the 6-month supply typically found in a more normal market, as shown in the graph below: With inventory being one of the biggest housing market challenges today, finding ...
Continue ReadingIn a recent article, First American shared how millennials are not really any different from previous generations when it comes to the goal of homeownership; it is still a huge part of their American Dream. The piece, however, also reveals, “Saving for a down payment is one of the biggest obstacles faced ...
Continue ReadingIn the third quarter of 2019, the U.S. homeownership rate rose again, signaling another strong indicator of the current housing market. The U.S. Census Bureau announced, “The homeownership rate of 64.8 percent was not statistically different from the rate in the third quarter 2018 (64.4 percent), but was 0.7 percentage points higher ...
Continue ReadingDid you know that 1 in 6 Americans currently live in a multigenerational household? According to Generations United, the number of multigenerational households rose from 42.4 million in 2000 to 64 million in 2016. The 2018 Profile of Home Buyers and Sellers from the National Association of Realtors shows that 12% of all buyers have a ...
Continue ReadingYou’ve likely heard a ton about Millennials, but what about Gen Z? In the next 5 years, this generation will be between the ages of 23 and 28, and they’re eager to become homeowners faster than you may think. According to realtor.com, “Nearly 80 percent of Generation Z members say they want ...
Continue ReadingAccording to the ‘2019 Home Buyer Report’ conducted by Nerdwallet, many first-time buyers still believe they need a 20% down payment to buy a home in today’s market: “More than 6 in 10 (62%) Americans believe you must put at least 20% down in order to purchase a home.” When potential homebuyers think ...
Continue ReadingAs a homeowner, it’s important to keep your home running efficiently, not only to save money but also to help the environment thrive. October 2nd is Energy Efficiency Day, a perfect time to think about making some key upgrades that will improve the efficiency of your home. If you’re looking to sell your ...
Continue ReadingYou made an offer and it was accepted. Your next task is to have the home inspected prior to closing. Agents often recommend you make your offer contingent upon a clean home inspection. This contingency allows you to renegotiate the price you offered for the home, ask the sellers to ...
Continue ReadingIn today’s real estate market, more houses are coming to market every day. Eager buyers are searching for their dream homes, so setting the right price for your house is one of the most important things you can do. According to CoreLogic’s latest Home Price Index, home values have risen at over ...
Continue ReadingLast week realtor.com released the results of a survey that produced three major revelations: 53% of home purchasers (first-time and repeat buyers) currently in the market believe a recession will occur this year or next. 57% believe the next recession will be as bad or worse than in 2008. 55% said they would cancel ...
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