The number of homes for sale nationwide is in record low territory. When the pandemic hit, many homeowners took their homes off the market and many are still waiting to sell. That has created a frenzy in many markets as buyers compete for a limited number of homes for sale.Some of the nation’s most affordable areas are seeing the largest drops in housing inventories.Among the 50 most populous U.S. metros, San Antonio, Texas, has experienced som
New homes have gotten larger, many with a room dedicated to each family member, plus a guest bedroom. On the other hand, apartments are feeling more cramped.New single-family homes have increased 18% in size, or 143 square feet, over the last decade, according to new research from STORAGECafe. That’s about the size of a new bedroom, says STORAGECafe, which analyzed the evolution of new-home and apartment sizes from 2010 to 2019.The average size
Ultra-competitive housing markets have fueled bidding wars as buyers frantically compete for a limited number of homes for-sale. Real estate professionals are finding themselves helping their home-buying clients navigate multiple offer situations. But they must be careful to avoid misunderstandings and reduce the risk of discrimination in the process, too.“Real estate professionals can help avoid complaints and fair housing issues while helping
The most affordable housing markets in the U.S. tend to be located in the South and Midwest, according to a new analysis from RefiGuide.org, a home refinance resource. For example, Youngstown, Ohio, topped the list as the most affordable place in the country, where the median household income in one year is more than the typical purchase price of a home.On the other end of the spectrum, however, California tends to have the least affordable housi
As home shoppers find fewer existing homes for sale, they’re increasingly turning to new construction, The Wall Street Journal reports. New single-family home sales jumped nearly 14% in July from June and are at the highest level since December 2006, the Commerce Department reports.“The demand feels really good right now,” Martin Connor, chief financial officer at Toll Brothers Inc., told The Wall Street Journal. “The longe
Many adult children are choosing to return to live with their parents—or not to leave—for many reasons, including the economic downturn, high rent or housing costs, and the pandemic. But some areas of the country show a higher proportion of adult children who are at home with their parents.MagnifyMoney, a branch of LendingTree, recently analyzed data from the American Community Survey to identify the cities where adults aged 25 to 40 still li
Many Americans are saving more and spending less during the pandemic. Forty-six percent of more than 5,000 U.S. adults said they are “more of a saver now” than before the pandemic, according to a recent survey conducted by CNBC + Acorns Invest in You.Certainly, millions of Americans are still unemployed due to the COVID-19 pandemic and have seen their finances take a major hit. For those still employed, however, they may be feel able to build
The real estate industry is closely watching the remote work trend as it could have a big influence on clients' future homebuying decisions. More Americans have been working from home due to the COVID-19 pandemic, but some areas of the country may offer more prime remote work conditions.Forsyth County, Ga., topped a new study on the best places to work from home, released Tuesday by the National Association of REALTORS®.NAR assigned
Every year since 2010, fewer than 10% of units have been deemed affordable to renter households that earn 50% of the median renter income, according to a new report released from Freddie Mac.The “Rental Affordability Reexamined” study found that despite some claims otherwise, affordability levels in the rental sector have not improved in recent years.Freddie Mac researchers isolated renter income to capture the availability of affordable hous
Young prospective home buyers in their 20s and 30s who were once reluctant to purchase are now driving the housing market recovery during the pandemic, The Wall Street Journal reports.Even prior to the pandemic, millennial buyers were starting to increase in number, accounting for more than half of all new-home loans early last year. They have consistently stayed above that level in the first months of this year, too, realtor.com® data
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