Low mortgage rates and a strengthening economy propelled home sales in October, the National Association of REALTORS® reported Thursday. Total existing-home sales, which include completed transactions of single-family homes, townhomes, condos, and co-ops, rose 1.9% month over month to a seasonally adjusted annual rate of 5.46 million, NAR’s latest existing-home sales report shows. Sales are up 4.6% from a year ago.“Historically low interest
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Double master bedrooms are proving to be a growing trend in new luxury developments, Forbes.com reports.As more homeowners want to live near their families and multigenerational households become more common, relatives and adult children move in together; as a result, more household members want to call dibs on the owners’ suite, which is often the largest bedroom in the house with an attached bathroom.Builders are responding by adding two mast
More new home construction may finally be coming. Housing permits, a gauge for future construction, climbed 5% in October, reaching the fastest rate of building permit authorizations since 2007, the U.S. Commerce Department reported Tuesday. Broken out, single-family permits increased 3.2% to a rate of 909,000, while multifamily permits rose 8.2% to a rate of 552,000. Permits rose in every region of the country last month and are 14.1% higher tha
It’s good to be a landlord: National rents on single-family homes rose 3% in September, as low rental housing inventories compared to demand continues to push up prices, according to CoreLogic’s Single-Family Rent Index.“Low rental supply coupled with ongoing demand pushed up rents in September,” says Molly Boesel, principal economist at CoreLogic. “Vacancy rates have fallen moderately on the national level over the last quarter—with
A growing number of retirees are bucking the downsizing trend and are opting to upsize instead. They may be motivated to find a larger home to accommodate a live-in parent or visiting family members or because a larger home is simply what they prefer.“People who choose to upsize in retirement often do so when relocating to a more climate-friendly area, such as Florida or Arizona,” Cara Ameer, a real estate professional with Coldwell Bank
Some millennials are feeling trapped in renting because they’re unable to save enough to make the leap into homeownership, according to Apartment List’s “2019 Millennials & Homeownership Report.” The report analyzes the attitudes, expectations, and actions of more than 10,000 millennial renters nationwide.The vast majority of millennials say they want to own a home and view it as a financially superior choice over renting, but ne
Foreclosure filings are on the rise, increasing 13% month over month in October and reaching their highest level of 2019, according to ATTOM Data Solutions’ latest U.S. Foreclosure Activity Report.Foreclosure starts rose monthly in 36 states, marking the first double-digit month-over-month increase since February 2018, ATTOM Data Solutions reports. The metro of Minneapolis-St. Paul-Bloomington, Minn.-Wis., saw the highest increase of foreclosur
The youngest generation of future home buyers appreciates diversity in the neighborhood where they want to live. Nearly half of potential Generation Z home buyers who plan to purchase say they believe living in a racially and ethnically diverse neighborhood represents “a positive force in society,” according to a new survey of 1,300 18-to-24-year-olds conducted by Homes.com. They also say they are interested in being exposed to other cultures
Before purchasing a car, many consumers like to give it a test drive to make sure the vehicle is the right fit for them. Likewise, some house hunters are asking for a “test stay” at a home before signing the sale contract. While that’s not always possible, Tim McMullen, a sales associate with Kinoko in San Francisco’s luxury market, recently offered some tips in a realtor.com® article to accommodate as much of your buyers’ request as p
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