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 expectations 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 going with aspirational pricing just becau
Rising inflation is pressing on Americans across the economic spectrum with costs for groceries to gasoline increasing. In November, consumer prices increased by 6.8% compared to a year ago, the largest annual gain in the past 40 years.Some of the highest increases have occurred for energy, shelter, cars, and food—these comprise about 61% of consumer purchases and account for 81% of inflation over the past 12 months, MarketWatch reports.Renters
New home construction has been pointed as a way out of the housing inventory crisis. But even with high buyer demand, builders have struggled to ramp up construction even more due to ongoing labor, lot, and materials shortages. Some markets are faring better than others in adding more new homes to their housing pipelines.Zonda, a homebuilding and multifamily data firm, recently selected five U.S. cities as markets of interest for new-home sales i
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Homeowners continue to build wealth. Home price growth is reaching the highest level in more than four decades, pushing equity gains to a record high.The average home equity gained between the third quarter of 2020 and the third quarter of 2021 is about $57,000, CoreLogic reports.“Not only have equity gains helped homeowners more seamlessly transition out of forbearance and avoid a distressed sale, but they’ve also enabled many to continue bu
For the last four consecutive weeks, mortgage rates have generally held stable. But that could soon change, with inflation, action from the Federal Reserve possibly quickening its pace to taper its bond purchases, and other financial activity triggered by the ongoing pandemic all playing a role, economists say.“Mortgage rates have moved sideways over the last several weeks, fluctuating within a narrow range,” says Sam Khater, Freddie Mac’s
Women are second only to married couples as a homebuying presence in the real estate market, according to the National Association of REALTORS®. Currently, 19% of the homebuying market are single women, while 9% are single men and 60% are married couples, according to NAR.Single women and single men show a high desire to own a home of their own, but single women outnumber men by about a 2-1 ratio. While a roughly equivalent percentage of men and
Many paint firms have selected a green hue for their 2022 top color pick, but Pantone is making a much bolder choice. Could this be another hot color for home interiors in the new year?The 2022 Pantone color of the year is Very Peri, a periwinkle blue with violet-red undertones. The color was created by Pantone specifically as the color of the year. The bright color is intended to evoke comfort and courage in unpredictable times, Pantone says.The
Expect the nation’s hottest markets next year to be centered largely in tech hubs in the Midwest and Mountain states, which offer affordable alternatives to pricier coastal regions. Realtor.com® recently released its forecast of the top-performing markets for 2022. “Our top housing markets are attracting remote-minded workers, possibly interested in snagging a big-city salary while still enjoying the quality of life that these generally smal
Members of Gen Z, who span ages up to 24, are already starting to make their entrance into real estate. But buying a home has become especially pricey over the past year. Home prices were up 13% in October compared to a year ago, according to the National Association of REALTORS®.So, which locales may offer Gen Z the best chances to buy a home of their own? Living Cozy, a furniture and homeware resource, analyzed the median property value in eac
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