Sales of newly built single-family homes in August reached their fastest pace since September 2006, the Commerce Department reported Thursday. They also attained another landmark: topping 1 million sales, to a seasonally adjusted annual rate of 1.01 million units. That marks a 43% jump when compared to last year.“Already, more new homes have sold in 2020 than did in all of 2019,” says Danielle Hale, realtor.com®’s chief economist. “With
Mortgage rates ticked up this week but still remain under a 3% average and near historical lows. Freddie Mac reported the 30-year fixed-rate mortgage averaged 2.90% this week. The all-time low for rates was set in mid-September, averaging 2.86%.Home buyers are seeing how record-low rates can significantly decrease their borrowing costs. Compared to a year earlier, mortgage rates have dropped more than 70 basis points. That has brought monthly pay
The pandemic has inspired a wave of home renovations as owners are spending more time in their homes. And renovators say it’s been good for their mental health, according to a new study conducted by CouponFollow of more than 1,000 homeowners and renters about do-it-yourself home projects they've tackled during the pandemic.Thirty-four percent of respondents said DIY home improvement projects have aided their mental health during quarantine. Als
Los Alamos County, N.M.—where the atomic bomb was developed during World War II—is now the healthiest county in the country, according to a new analysis by U.S. News & World Report. The area boasts abundant outdoor recreational activities and scores high on other determinants of residents’ health, according to the analysis.U.S. News & World Report evaluated economic, educational, and environmental factors in compiling
Mortgage demand continues to climb as a buying frenzy extends beyond traditional seasonal patterns in real estate. Mortgage applications to purchase a home are now 25% higher than a year ago, the Mortgage Bankers Association reports.Home sales are strongest on the high end of the market, where inventory is loosest, the National Association of REALTORS® reports. In August, the supply of homes worth more than $1 million was 44% higher than the yea
Dishwashers, refrigerators, washers and dryers, and other household appliances are low in stock nationwide, and some consumers are waiting months for their orders to be fulfilled. The backup is yet another problem you can blame on the COVID-19 pandemic.First, as consumers started hoarding food, there was a rush on freezers. “We sold more freezers in two days than we did all last year,” Steve Sheinkopf of Boston-area Yale Appliance told NPR.
Since the start of the COVID-19 pandemic in March, there have been nearly 400,000 fewer homes listed than the same time period in 2019. That has created a large deficit in the housing supply at a time when consumers are rushing to buy. Home prices are increasing at double the pace of last year, and homes are selling 12 days faster than in 2019, according to realtor.com®’s Weekly Housing Report.“Sellers are more reluctant to list their home,
Paint company Sherwin-Williams on Tuesday announced its 2021 color of the year: “urbane bronze.” The hue is said to instill calmness and has ties to nature, Sherwin-Williams says."The home is now the ultimate retreat from the world, and color is an easy and effective way to create a personal haven," says Sue Wadden, director of color marketing at Sherwin-Williams. "Urbane bronze encourages you to create a sanctuary space for mindful reflectio
A new housing report shows 73.9 million Americans reside in a community with a homeowners association or condominium board. That is more Americans than ever, according to the Foundation for Community Association Research.California now leads the nation with 49,200 associations, followed by Florida, with 48,500; Texas, with 21,000; Illinois, with 18,800; North Carolina, with 14,100; and New York, with 14,000, the report says.In 2019, there were ab
Large retirement communities are being challenged by a new wave of retirees who are showing less interest in the sprawling housing developments that were built for them. Instead, today’s retirees are showing a desire for more customized housing options that fit their active lifestyle.The idea of retirement communities isn’t disappearing, but it’s shifting in design and location, CNBC reports. For example, just prior to the pandemic, more re
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