The 30-year fixed rate mortgage averaged 2.96% just a year ago; this week, it averages 5.27%, Freddie Mac reports. “Mortgage rates resumed their climb this week as the 30-year fixed reached its highest point since 2009,” said Sam Khater, Freddie Mac’s chief economist. “While housing affordability and inflationary pressures pose challenges for potential buyers, house price growth will continue but...
Sixty-six percent of buyers of new-construction homes say they feel some form of regret about the process. Twenty-six percent wish they had purchased an existing home instead, according to a new survey conducted by Clever Real Estate. Clever Real Estate surveyed 1,000 Americans who purchased a new-construction home or were in the process of building one. New-home buyers described feeling stressed,...
About 70% of buyers recently surveyed say they have at least one regret about their homebuying experience, according to the “Buyer and Seller Insights Report for 2022” conducted by HomeLight, a real estate referral company. The biggest regrets: What they paid for their home and home maintenance. Twenty-two percent of buyers surveyed said they felt they overpaid for their home. Twenty-two percent also...
Since the COVID-19 pandemic has hit our shores, there has been a major change in our world as many people are now working from home. Since this strategy seems to be working, a lot of people will continue to work remotely and to be productive, you need to be comfortable in your home office. The good news is that you can update your space without breaking the bank. Here at Dream House Estate, we love to help...
The U.S. luxury real estate market is getting a significant boost from an increasing number of wealthy individuals who are showing a deep appreciation for owning multiple homes. The world’s affluent population—those with a net worth of more than $5 million—grew by nearly 20% in 2021, according to The Report: 2022 Global Luxury Market Insights, produced by Coldwell Banker Real Estate LLC and the...
The onset of the pandemic led to a decrease in multifamily housing demand in high-density cities as renters started to favor more spread-out communities in the suburbs. But big-city demand is coming back. Multifamily home building is gradually picking up pace in large metros once again, according to an analysis from the National Association of Home Builders. “In the wake of the public health crisis,...
Thirty-one percent of all Americans and 41% of 18-to-34-year-olds say they’ve purchased a primary residence with someone they aren’t married to, according to a survey by realtor.com®. Further, 55% of Americans and 68% of 18-to-34-year-olds say they would consider it. “With home prices skyrocketing in recent years, it’s become even more challenging to break into the housing market for first-time...
Many renters are making moves toward homeownership as quickly rising mortgage rates and rents have them feeling increased pressure. Average monthly rents climbed more than 14% year over year in December 2021, reaching $1,877. Miami and Austin, Texas, have seen rents surge more than 30% over the past year. Economists point to homeownership as a way to stave off inflation and build wealth, The Wall Street...
New-home sales ended the year on a strong note as more home buyers flooded the market faced after finding fewer and fewer choices in existing homes for sale. Sales of newly built single-family homes jumped about 12% in December 2021 compared to November, the Commerce Department reported Wednesday. “Though builders continue to grapple with higher construction costs, the December data reveal ongoing...
Buying a vacation rental is one way to help attain financial freedom, providing a steady income stream you can collect with little effort. However, real estate is a major investment, so you want to be smart when making this move. Dream Home Estate can help you find a fitting property—and even manage tasks like advertising it for you. However, finding a fitting house or apartment is only the first step....