Mortgage rates reach highest point since early 2020
Rising mortgage rates are “closing the door” on opportunities for homeowners to refinance at lower rates, but demand for purchase loans remains steady, according to the Mortgage Bankers Association’s Weekly Mortgage Applications Survey. Rate...
Posted by: RE/MAX Masters Millennium
Category: Market Trend
Date: 2022-01-17 16:48:45
The top 10 housing markets of 2022 for first-time buyers
First-time homebuyers have had a difficult time over the past few years, with inventory hitting some of its lowest lows as competition and prices have continue to increase. But with remote work now the new reality for millions of Americans, first-...
Posted by: RE/MAX Masters Millennium
Category: Market Trend
Date: 2022-01-14 16:43:45
Are first-time buyers driving the surging housing demand?
In the immediate aftermath of the housing crash of 2008, government tax credits helped propel first-time buyers to their greatest share of home sales in at least four decades. But when those credits expired, that share plummeted — and first-time...
Posted by: RE/MAX Masters Millennium
Category: Market Trend
Date: 2022-01-13 16:26:33
Top five cities in the world voted the best places to live
If you had to live somewhere other than in the United States, where would it be? The world is full of beautiful and exciting place to live, but when considering where to live, there ae a variety of factors to consider. Political stability, crime rate...
Posted by: RE/MAX Masters Millennium
Category: Market Trend
Date: 2022-01-12 09:35:16
Demand for vacation homes declines
Demand for vacation homes slipped modestly in December, but remained 77 percent above pre-pandemic levels prior to March 2020, according to a report released Thursday from Redfin. The December numbers were down from November 2021, which saw demand...
Posted by: RE/MAX Masters Millennium
Category: Market Trend
Date: 2022-01-11 08:27:53
Homeowner still cheaper than renting, except in biggest cities
Home ownership is a less expensive option than renting in a majority of U.S. housing markets, even as median home prices shoot through the roof, according to a new report. A report released Thursday from ATTOM Data Solutions found that owning a m...
Posted by: RE/MAX Masters Millennium
Category: Market Trend
Date: 2022-01-10 08:24:21
10 Factors creating a perfect storm in real estate inventory
No matter the source, the message is the same: We are experiencing a record-breaking lack of homes for sale. Since the trends being reported have been national in scope, I dove into our local county real estate database and went back 15 years. I disc...
Posted by: RE/MAX Masters Millennium
Category: Market Trend
Date: 2022-01-07 09:51:05
Rent control: does It make housing affordable?
Once upon a time, there was a quirky little parochial town called St. Paul, Minnesota — not to be confused with its twin, Minneapolis. (I also call it home.) The city of St. Paul plans on fixing the affordable housing crisis with a new rent control...
Posted by: RE/MAX Masters Millennium
Category: Market Trend
Date: 2022-01-06 11:30:12
U.S. Median rent increased 11% in 2021
The median asking rent in the U.S. increased 11 percent over the course of 2021 as inflation hit Americans in full force, according to a report from online rental marketplace Dwellsy. That’s three times the rate of a normal year, in which rents ...
Posted by: RE/MAX Masters Millennium
Category: Market Trend
Date: 2022-01-05 11:27:57
Near-Record home price growth continues, despite upcoming slowdown
Home prices soared once again in October, but offered more signs that the rate of growth may have peaked for now. Homes sold in October went for 19.1 percent more than they did in the same month last year, a mark that was slightly slower than thos...
Posted by: RE/MAX Masters Millennium
Category: Market Trend
Date: 2022-01-04 17:35:02
As omicron triggers market volatility, mortgage rates decline
Buyers who locked in mortgage rates this week got a bit of a reprieve as they continued to race to get ahead of the long-term rate increases to come. The average rate for a 30-year mortgage fell to 3.05 percent, down 7 basis points from the week b...
Posted by: RE/MAX Masters Millennium
Category: Market Trend
Date: 2022-01-03 17:30:21
Ten most common new year resolutions
Every year, millions of people make New Year’s resolutions in an attempt to spark positive change. The recurring themes each year include a more active approach to health and fitness, improved finances, and learning new things for personal and prof...
Posted by: RE/MAX Masters Millennium
Category: Market Trend
Date: 2021-12-30 09:24:59
For years, homeowners have stayed put. Why that is about to change?
After housing prices plummeted in 2008, homeowners became newly reluctant to sell and move. Midway through the pandemic, however, the floodgates have opened for the first time in more than a decade. Sellers in the third quarter of 2021 had liv...
Posted by: RE/MAX Masters Millennium
Category: Market Trend
Date: 2021-12-29 09:17:53
Existing-Home sales rise again, fueled by climbing mortgage rates
Existing-home sales increased by 1.9 percent from October to November 2021 to a seasonally adjusted annual rate of 6.46 million, according to the National Association of Realtor’s (NAR) existing-home sales report released on Wednesday. While the in...
Posted by: RE/MAX Masters Millennium
Category: Market Trend
Date: 2021-12-28 09:13:43
Forbes group makes predictions for 2022 real estate market and beyond
The Forbes Biz Council recently shared their insights on the future of real estate and what trends they believe will impact the market in the coming years. The complexity of local zoning and permitting processes will become increasingly more valua...
Posted by: RE/MAX Masters Millennium
Category: Market Trend
Date: 2021-12-27 10:29:37