It’s a good time to own a single-family rental: Rent prices hit double-digit growth in September, according to CoreLogic’s latest Single-Family Rent Index. Rent growth across all tiers continues to be at record highs. High-end rentals are seeing the most growth. Overall, national rents rose 10.2% year over year, increasing from a 2.6% annual rise a year earlier in September 2020, CoreLogic reports....
The 30-year fixed-rate mortgage was back above 3% this week, and economists believe rates will continue to increase over the next few months. “The combination of rising inflation and consumer spending is driving mortgage rates higher,” says Sam Khater, Freddie Mac’s chief economist. “Shoppers looking to buy a home are fueling a strong demand while ongoing inventory shortages are not improving in...
Home buyers don’t have much time to decide whether they want a house or not. As soon as a listing hits the market, the rush is on. Home sales between July 2020 and June 2021 were on the market for a median of just one week before going under contract, according to the National Association of REALTORS®’ newly released 2021 Profile of Home Buyers and Sellers. That marks a record low in NAR data dating...
Home prices continue to rise rapidly as homeowners see double-digit gains over the past year. The median sales price of single-family existing homes rose 16% in the third quarter, an increase of $50,300, according to the latest quarterly report from the National Association of REALTORS®. Three metros saw price gains of more than 30% compared to a year ago. The median sales price of a...
Real estate investors are buying up homes, and first-time buyers increasingly are finding themselves up against them in bidding wars. Investors are drawn to real estate to flip single-family homes, townhomes, and condos for a profit and to build their portfolio of properties to convert them to rental units. The share of investors is at the highest level since 2015, according to realtor.com®’s data....
The COVID-19 pandemic has hit many sectors of commercial real estate hard. But the sector is bouncing back. Investors purchased a record amount of commercial real estate in the third quarter, The Wall Street Journal reports. But office buildings and shopping malls aren’t behind the boom, as they typically are. Instead, some of the biggest drivers in the commercial sector have been apartment buildings,...
The first year of homeownership can be one of the most expensive years. After all, new homeowners are paying for the down payment, closing fees, and the costs of moving in, while outfitting their new home. SmartAsset evaluated data across the 20 largest cities to find which areas have the highest first-year housing costs. They factored in six metrics: median home value, down payment, average closing...
Home buyers are rushing to purchase new homes. Sales of newly built, single-family homes jumped 14% in September compared to August, reaching a six-month high, the U.S. Department of Housing and Urban Development and U.S. Census Bureau reported Wednesday. Home buyers appear to be shrugging off price increases, too. The median new-home sales price continued to increase to $408,800 in September, up 18.7%...
Repair requests after a home inspection often are the last major hurdle to clear on the way to settlement for home sellers. Sometimes the inspection report can leave buyers uncertain about what inspection repairs truly need to be fixed and what’s up for negotiation. Many buyers over the last few months had been waiving home inspections to better compete in a bidding war. Twenty-one percent of home...
Nowadays, many small business owners are choosing to eschew glitzy offices and base themselves at home. The move to working from home has financial and emotional benefits, but you must create an office space that separates your domestic life from your work life and provides you with a productive working environment. When you’re looking for the perfect home to accommodate both your family and business,...