Urgency in Home Buying Advice
Acceptance of stable interest rates drives homebuying trends in 2024. Waiting for lower rates may mean renters are building equity for landlords.
Uncategorized
Top 5 Things to Consider Before Buying a Home
Homeownership is a valuable investment for many Americans, but the Black homeownership rate in the U.S. is just 44%, the lowest among racial groups. To overcome barriers, it's crucial to understand the homebuying process and explore resources. Consider factors like financial readiness, saving for a down payment, evaluating loan options, using available tools like grants … Continued
US Housing Supply Short 7.2M Homes
The US faces a housing shortage of up to 7.2M homes due to decades of underbuilding. Household formations outpace single-family home construction, widening the gap.
Happy Fourth of July
To all great Americans around the world, a very Happy Fourth of July to you all. This day is incredibly significant as the day the United States officially became its own nation. Let’s celebrate America’s birthday with festivals, parades, fireworks and other festive activities.The 4th of July marks the day America became a country where … Continued
Immediate Action Needed for Housing
The housing crisis disproportionately affects the poor and minorities. Critics argue new units are often expensive luxury apartments.
US Existing Home Sales: Rebound Predicted by 2025
US home sales dropped significantly in 2023, compared to 2021, ↓ from 6.12M to 4M transactions. However, the forecast suggests a rebound by 2025, with the number of sales reaching 5.6M units.
Survey: Green Features Important to Buyers
Real estate professionals are emphasizing energy efficiency in their listings as home buyers increasingly value sustainability. Green home features are now highlighted in nearly 40% of MLS listings, with 57% of respondents appreciating this focus. High-performance homes with green features, such as solar panels, can potentially fetch a premium of 1% to 5%. Homeowners are … Continued
Home Prices and Rents Poised for Double-Digit Growth
Americans expect home prices to rise 5.1% in the next year compared to last year's prediction of 2.6%. Rental costs are also expected to jump by 9.7%, the second-highest prediction on record.
Rents Rising Faster Than Wages: A National Housing Squeeze
Rents in most major US cities have grown significantly faster than wages over the past four years. Some resources reported that rents rose 30.4%, wages 20.2% from 2019 to 2023, especially in Florida.
Cost of Buying a House Hits All-Time High
The cost of buying a house in the US has reached a record high, with a median price of ~$384K. This is due to a combination of rising home prices and mortgage rates.