With growing demand for home remodeling and construction material shortages, budgeting accordingly for house projects has been unpredictable. Many homeowners may be getting sticker-shocked at how much certain house projects and repairs are costing. HomeAdvisor surveyed more than 900 consumers to learn about their outlook on home improvement and how accurately they estimate specific projects. Interior...
It’s a good time to be an owner of a single-family rental property. Low availability of single-family rental inventory mixed with high demand is sparking a surge in growth for the sector. Tenants are seeing prices climb quickly. In October, rental prices rose nationwide 10.9% year-over-year, CoreLogic’s latest released Single-Family Rental Index shows. Vacancy rates remain at 25-year...
The housing market is hot, but some homeowners may overestimate just how hot it is when they go to sell. Real estate professionals shared with realtor.com® a few unrealistic expectationss that some of their sellers have had, such as that their home has doubled in value since they bought it or that they shouldn’t have to make any repairs before closing. “One of the biggest mistakes sellers can make is...
Mortgage rates play a big role in borrowers’ buying power. Super low rates over the past year have allowed many home buyers to stretch their housing budgets, important as they have faced high home price increases. But many economists are predicting higher rates over the next few months. What can home buyers expect for 2022? While the trajectory of rates is never simple to predict, particularly due to...
Zillow Group announced it is making strides in selling about half of the about 18,000 homes that were part of its now-shuttered Zillow Offers program, once one of the nation’s largest instant cash buyers. But some lawmakers are raising concerns that some of these properties are going to institutional investors at a time when the housing market is starved for more inventory. “We are focused on making...
Supply chain woes have been hitting the housing market, affecting appliances, windows, paint, and other items needed to build, repair, or improve home. That has driven prices higher. New-home buyers have felt the pinch: The median sales price for a new home in October was $407,700, up 17.5% compared to the same time a year ago, according to realtor.com® data. Builders point to higher material costs, as...
Real estate’s typical seasonal slowdown isn’t happening this year. Sales remain high and lookie-loos are still out in force. ShowingTime, a residential real estate showing managing and market stats tech provider, reports “surprising” home buyer activity particularly in the Midwest and South regions during October. They note an unusual jump in home showing traffic. “Showing activity typically...
Contract signings climbed 7.5% in October, and home sales for 2021 are on pace to hit a 15-year high, the National Association of REALTORS® reported Monday. Pending home sales rebounded after a decline in September. Despite rising mortgage rates, home buyers appear undeterred by higher financing costs and home prices. Contract activity increased month over month in all four major regions of the U.S....
The pandemic has prompted more Americans to want to supersize their homes. The median single-family square floor area as increased to 2,337 square feet as of the third quarter, while the average (mean) square footage of new single-family homes rose to 2,541, according to the latest Census Bureau data, as reported by the National Association of Home Builders. The average size of new single-family...
A real estate firm is suing Oregon lawmakers over a new state law that bans real estate professionals from delivering “love letters” written from home buyers to sellers when submitting an offer on a house. The lawsuit alleges that the state ban violates the First Amendment rights of real estate brokers and their clients. The lawsuit was filed in federal court last Friday by the Pacific Legal...