More Americans are working from home in the pandemic, meaning their morning commute has become a few steps to their dining room or home office. But now more working Americans say they miss the day-to-day grind of a real morning commute. Slightly more than half of American workers recently surveyed said they enjoy their commute to work, according to a survey of about 1,000 people conducted by...
So you’re planning a move to the seaside city of Huntington Beach. As exciting as it may be, moving is rarely a simple task — especially if you’re relocating from another city or state. But fortunately, these tips from real estate agent Ruby Truong will help you to settle into your new house, neighborhood, and city much more easily! Before Moving to Southern California If you’re moving to...
More Americans are desiring bigger homes since the pandemic—and builders are responding. The share of new single-family homes with four or more bedrooms posted a sharp uptick, unlike in recent years, the National Association of Home Builders reports on its Eye on Housing blog.The share of single-family homes started with four bedrooms or more rose from 42.6% in 2019 to 45.2% in 2020.“These developments...
New-home sales rose in August, even as buyers continued to weather high home prices. Higher development costs and material prices have put pressure on new-home prices, which are 20% higher than a year ago. The median sales price was $390,900 in August, the Commerce Department reported Friday. “These price hikes are a risk for housing affordability as we approach the end of the year,” says Robert...
Home prices have been posting double-digit annual increases. Bidding wars have quickly run up prices above list price. But for the most part, home buyers have not taken on more than they can afford. Americans devote about 21% of their household income toward their monthly mortgage payments, according to a recent report from realtor.com®. That is higher than the monthly average of 19.6% seen over the last...
Just when the housing market was starting to fall into a seasonal pattern, mortgage demand takes off. Mortgage applications to purchase a home—a gauge of the housing market—rose 7% last week compared to the previous week, the Mortgage Bankers Association reported Wednesday. That marks the highest level since April of this year. Housing inventories have increased slightly, which may be opening up more...
Real estate firms saw business activity increase over the past year as the housing market surged across the country. In 2020, single-office firms had a median brokerage sales volume of $4.5 million and 19 real estate transaction sides, up from $4.2 million and 18 in 2018, according to the National Association of REALTORS®’ newly released 2021 Profile of Real Estate Firms. The biennial survey reflects...
The home flippers are returning to the market, even as their profit margins have dipped to a 10-year low. About 4.9% of all home sales in the second quarter were from home flipping—defined as a single-family home or condo transaction that was bought and sold within 12 months. The home flipping rate is up from 3.5% in the first quarter of 2021 but still remains below levels throughout most of the last...
Competition for homes on the market is lessening, which could provide an opening for home buyers who have been losing out amid this year’s bidding wars. In August, about 59% of offers on homes written by Redfin agents faced competition, which is a record low for this year and the lowest level since 2020, according to a Redfin analysis. That’s down from a peak of 74% in April. There have been...
The price of entry to homeownership involves more than just the down payment. About 44% of homeowners say they were unaware of the other costs associated with buying a home, like home inspection, document fees, property taxes, home insurance, and title fees, according to a realtor.com® survey of nearly 3,000 adults. About 11% of respondents also failed to factor in moving expenses. “Unlike most...