Priced out of the single-family market, more buyers are now turning their attention toward often a more affordable alternative—condominiums and townhouses. Over the past year, sales have rapidly been on the rise, whether for a permanent residence or even as a second home.Twice as many condos sold in May than a year earlier, according to realtor.com® data. However, that is being measured against a 46% drop in condo sales in May 2020 compared to
More Americans are working from home in the pandemic, meaning their morning commute has become a few steps to their dining room or home office. But now more working Americans say they miss the day-to-day grind of a real morning commute.Slightly more than half of American workers recently surveyed said they enjoy their commute to work, according to a survey of about 1,000 people conducted by Compare.com, an auto insurance website. Only 21% of
Which cities have the friendliest people living next door? Look in Madison, Wis., for those who want a more neighborly feel to where they live. Madison topped Neighbor.com’s “2021 Most Neighborly Cities in America” list.Neighbor.com identified the most neighborly locales by analyzing data around charitable giving, volunteering, community well-being, gauges of happiness, and low crime rates.Their research revealed the following characteristi
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Foundation repairs can be costly, so it’s no wonder homeowners are concerned about the condition of the foundation their home sits on. Seventy-eight percent of 978 owners recently surveyed say they’re worried about foundation damage to their home, according to a new survey from Groundworks, a nationwide foundation services firm.7 Fixes to Avoid Major Foundation ProblemsMany homeowners say they’ve had to deal with some foundation damage to t
The 30-year fixed-rate mortgage averaged 3.01% this week, posting a sharp rise after spending nearly four months below 3%. Economists expect mortgage rates to continue to increase modestly over the next few months.“Mortgage rates rose across all loan types this week as the 10-year Treasury yield reached its highest point since June,” says Sam Khater, Freddie Mac’s chief economist. “Many factors led to this increase, including the Fed
Home buyers are finding more housing selections this fall, but they're still up against some serious competition. Nearly one-third of the 50 largest metros saw increases in the number of newly listed homes compared to last year, according to a new report from realtor.com®.“This September, buyers had more options than they’ve had all year and while that’s typical of early fall, that’s not what happened in 2020,” says Danielle Hale, real
More Americans are desiring bigger homes since the pandemic—and builders are responding. The share of new single-family homes with four or more bedrooms posted a sharp uptick, unlike in recent years, the National Association of Home Builders reports on its Eye on Housing blog.The share of single-family homes started with four bedrooms or more rose from 42.6% in 2019 to 45.2% in 2020.“These developments are linked to changes in the makeup of h
Home buyers made a strong comeback in August, pushing contract signing up 8.1% over July’s numbers, the National Association of REALTORS® reported Wednesday. The increase in pending home sales followed two consecutive months of declines.“Rising inventory and moderating price conditions are bringing buyers back to the market,” says Lawrence Yun, NAR’s chief economist. “Affordability, however, remains challenging as home price gains are
Location may impact how long you live, according to a new study from MIT economists. The study examined seniors between the ages of 65 to 99 who relocated long-distance from 1999 to 2014.For example, when a 65-year-old moves from a metro area in the 10th percentile for longevity from a metro area in the 90th percentile, they can increase their life expectancy by 1.1 years, researchers say.“There’s a substantially important causal effect of wh
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