Existing-home sales have been fluctuating in recent months, but one clear trend is emerging: First-time home buyers are making a move into the housing market as low mortgage rates prove to be an enticing incentive.Lawrence Yun, chief economist for the National Association of REALTORS®, says he’s encouraged by the upturn in first-time home buyers in NAR’s latest existing-home sales report. First-timers comprised 32% of sales last month, up fr
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In nearly half of federally designated “Opportunity Zone” areas, median home prices rose annually more than the national rate. Median home prices in these areas climbed 9.4% from the fourth quarter of 2018 to the fourth quarter of 2019, according to new research from ATTOM Data Solutions. Researchers examined about 3,700 zones that had sufficient sales data to analyze (those that had at least five home sales in each quarter from 2005 to 2019)
Total housing starts fell 3.6% in January, but that’s not what housing economists were focused on with the latest data release from the Commerce Department on Wednesday. Instead, it was the gauge on future home building—housing permits—that had them upbeat about what could be coming. Housing permits last month climbed to the highest level since March 2007.Still, it wasn’t all great news to the industry: Housing starts dipped to a seasonal
A strong economy, low unemployment, low mortgage rates, and alluring mortgage rates are making it a great time to buy a home, according to a newly released report from LendingTree, an online financial services marketplace. The amount of income that buyers spent on their mortgage payments also dropped from 2010 through 2019, despite higher home prices.“If you are in a point in your life where you’re considering buying a home today, it’s a be
Real estate investing may still feel out of reach to many consumers, but a new trend growing from startups is fostering “micro-investing” to help a new wave of investors jump in—sometimes for as little as $5.“The best portfolios are diversified, and real estate performs very uniquely, in a way that is uncorrelated to the stock market and bonds … We want to offer the same asset at a lower price point,” Janine Yorio, founder and CEO of
The nation’s ailing malls are trying to use entertainment and restaurants as anchors new business. They want to reinvent themselves as theater districts for entertainment and offer opportunities for socialization and entertaining as a way to save shopping.To do that, they’re converting vacant anchor stores into indoor entertainment destinations, such as go-karts, arcade games, and rides or main-brand experiences, from Legoland to the Crayola
Economic growth helped to accelerate single-family rental prices in 2019, and that momentum is expected to continue for the rental market well into 2020, according to CoreLogic’s Principal Economist Molly Boesel.Demand remains strong as rental vacancies reached a record low in the fourth quarter of 2019, CoreLogic reports in its latest Single-Family Rent Index. U.S. single-family rent prices rose 2.9% year-over-year in December 2019.“Strong e
The number of properties for sale has hit a record low, and that could mean a tougher house hunt ahead for home buyers this spring. The housing shortage is hitting markets across the country, making places like Buffalo and Rochester, N.Y., Columbus, Ohio, and Salt Lake City feel more like the competitive housing markets and tech hubs of San Francisco, Silicon Valley, and Seattle, realtor.com® reports.Realtor.com® researchers analyzed housing ma
Cupid’s arrow is pointing at Provo, Utah. The metro is emerging as the top area in the U.S. for dating this year, according to a new survey released by Apartment List. The site analyzed data from more than 11,000 single renters to learn the best opportunities to date in cities across the country.Some 45% of survey respondents from Provo reported being satisfied with the city’s dating scene. That was the highest score of any American city, res
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