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
Though middle-class households are pinching their pennies, they still desire homeownership as a means to increase personal wealth, according to a new study by personal finance resource SmartAsset. Researchers looked at the states in which the middle class is the strongest financially, factoring in housing costs, incomes, and job growth, among other criteria.The middle class is defined as households who earn between two-thirds to double the nation
Some sellers are hoping to hook a buyer by offering a one-year home warranty to cover repair costs for items such as appliances, electricity, or plumbing. The tactic, which is gaining popularity, is meant to give buyers peace of mind that they won't have to shell out cash for pricey improvements after moving into the home. Seventeen percent of sellers have offered a home warranty as an incentive to potential buyers, according to research fro
Customers were slightly less satisfied with mortgage originators in the second quarter, and too much technology may be the culprit, according to the latest J.D. Power 2019 U.S. Primary Mortgage Origination Satisfaction Study. Lenders have been adding self-service technology to increase convenience in the mortgage process while trimming their customer-facing staff. But too much tech may fall short of customers’ expectations for service, the stud
This website includes images sourced from third party websites including Adobe, Getty Images, and as otherwise noted.
