As the housing market tightens, potential buyers are flocking to new construction in record numbers, but several factors are making those homes much more expensive than ever before. The first is a significant shift in the market’s composition because of the scarcity of existing properties. About one out of every four homes for sale is… [Read More]
U.S. Housing Market Pauses But Remains Hot
A new report released by relator.com finds the U.S. housing market took a breather recently. During the first week of November, buyers and sellers focused on current events according to the report. Between the presidential election and a rise in coronavirus cases, buyers and sellers had a reason hesitate according to the report. Even while… [Read More]
New Home Sales Surge to Highest Level Since 2006
U.S. new-home sales have surged to its fastest pace since before the great recession despite the pandemic. Sales of new homes have increased by 4.8% the Census Bureau announced last week. The housing marked extended its winning streak as Americans continued taking advantage of record-low mortgages. Sales of new single-family homes exceeded an annual rate… [Read More]
Mortgage Rates Hit Another Record Low
Mortgage rates have fallen to another record low for the ninth time this year since March. This is according to the Primary Mortgage Market Survey, a weekly survey of rates from Freddie Mac. The 15-year fixed-rate mortgage dropped to 2.35% while the average rate on a 30-year fixed-rate mortgage fell to 2.87%. That is the… [Read More]
Home Prices Rise Despite Economic Unease
The start of 2020 has been a tough year for businesses and the stock market. But unlike the 2007-2008 recession, housing prices in the U.S. and Charlotte specifically, have remained strong. House prices in the U.S. rose 5.4 percent from the second quarter of 2019 to the second quarter of 2020. This according to the… [Read More]
The Joys of Home Ownership in the Charlotte Area
For most people, the decision to purchase a house is the largest financial decision they will ever make. Many consider home ownership as part of the American dream, while others look at it as a money pit. When considering home ownership, there are various pros and cons to evaluate before making a purchase.