The average monthly asking price for rent in the country surpassed $2,000 for the first time in May of this year. The record high is $2,002, a 15% year over year increase according to a recent study from Redfin. “More people are opting to live alone, and rising mortgage-interest rates are forcing would-be homebuyers to… [Read More]
Could Baby Boomer Mortality Rates Change The Housing Market?
Before the pandemic, Baby Boomers – those typically classified as people born between 1946 and 1964 – represented 41% of U.S. homeowners. This is according to a special report conducted by the Mortgage Bankers Association’s Research Institute for Housing America. As older Americans age out of their homes to move to assisted living facilities or… [Read More]
Cheapest States to Buy a House in 2022
Skyrocketing prices and record-low inventory have made buying a house impossible for many Americans but for those who are willing to relocate, a new study from Rocket Mortgage ranking the cheapest states to buy a home may offer some homebuyers hope. While several studies have been done with varying results due to different contributing factors… [Read More]
Proposal Lists Ways to Address House Underbuilding in the U.S.
A new report released by the National Association of Realtors and authored by the Rosen Consulting Group, has highlighted the extensive underbuilding in the U.S. and the effects of underinvesting in housing. Following decades of underinvesting and underbuilding, the country faces a shortage of available housing. There is also a worsening affordability crisis and an… [Read More]
Home listings Fall to Record Low Causing Bidding Wars
A nationwide survey conducted by Redfin found that nearly 56% of offers for homes faced bidding wars in January, up nearly 4% from December of last year. More than half of homes are now going under contract in less than two weeks. This marks the ninth consecutive month where more than half of home offers… [Read More]
Pending Home Sales Stumble 2.2% in September
After four consecutive months of contract activity growth, pending home sales experienced a minor decline. All four major U.S. regions however have recorded notable year-over-year increases. This according to the National Association of Realtors. NAR’s Pending Home Sales Index measures the change in the number of homes under contract to be sold but still awaiting… [Read More]