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...
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...
With inflation rising to its highest level in nearly 40 years, three-quarters of buyers and sellers say they are changing their plans, according to a new consumer survey of 1,500 aspiring buyers and sellers conducted by Redfin. Twenty-nine percent of survey respondents say they are delaying buying a home due to inflation. On the other hand, about a quarter of aspiring buyers say that inflation is...
Buyers who were unscathed financially by the pandemic have particularly benefited from mortgage rates under 3%. However, the surging demand for a limited supply of homes for sale has fueled higher home prices. Housing affordability has been waning as a result. In October, monthly mortgage payments rose by 3.1% while the median family income rose by just 0.7%, according to the National Association of...
Pending home sales dropped in November as many markets continued to face a limited supply of homes for sale. Economists, however, are optimistic for more opportunities for buyers in the new year. The National Association of REALTORS®’ Pending Home Sales Index—a forward-looking indicator of home sales based on contract signings—dropped 2.2% in November, reversing from last month’s increase. All...
The second season of “First-Time Buyer,” which shows REALTORS® guiding their clients on their home buyer journey, is now available to stream on Hulu. The show is produced by the National Association of REALTORS®. The eight-episode season follows a different couple, family, or individual through the process of buying a home. “‘First-Time Buyer’ gives viewers a genuine inside look into the...