With more than 338,000 retiring and moving in 2023, could this number move higher in 2024?
Read More »Smallest Multifamily Units Still Commanding Premium Rents
The median rent of studios was still $206 (or 16.7%) higher than before the pandemic, which represents a significant jump that is only slightly smaller than that seen in larger units.
Read More »Home Affordability Got a Boost in Time for Christmas
“Homebuyer affordability improved for the second consecutive month in December as interest rates declined significantly from recent highs,” said Edward Seiler, MBA’s Associate VP of Housing Economics and Executive Director for the Research Institute for Housing America. Here’s what to expect as we approach spring.
Read More »Inclement Weather Impacting U.S. Homebuying Activity
As inventory remains alarmingly low, home prices are also rising in parts of the U.S., with some potential buyers being hampered by harsh weather. But in a new report, Redfin agents say that “serious buyers are finding a way to see desirable homes,” and demand is picking up in warmer regions.
Read More »New CFPB Rule Cracks Down on Junk Fees
“Banks should be competing to provide better products at lower costs, not innovating to impose extra fees for no value. The CFPB will continue to rid the market of junk fees today and prevent new junk fees from emerging in the future,” said CFPB Director Rohit Chopra.
Read More »End-of-Year Market Trends Bode Well for the New Year
"There are many reasons to be encouraged about housing in 2024," said Nick Bailey, RE/MAX President and CEO. "The high mortgage rates and inventory lows of 2023 definitely made for a challenging market, but December data shows some positive signs for the new year."
Read More »Uptick in Purchase Apps as Rates Fall to 11-Month Low
As mortgage rates dropped toward levels last reported in May 2023, the MBA reported a rise in purchase application activity, led by both Conventional and FHA purchase apps.
Read More »Where in the Nation Do Homes Sell the Quickest?
Looking for states with the shortest average time to sell a home from start to the closing table? Experts from Agent Advice broke down Zillow data and ranked the top 10 states where homes sold in the shortest amount of time.
Read More »Homebuyers Adjusting Purchase Strategies in Search of Homeownership
Prospective homebuyers are willing to reconsider their homebuying plans, according to a new RE/MAX report, which showed that nearly all Americans looking to purchase remain flexible when choosing the type of homes they want and how they’d pay for it.
Read More »Renters Made Big Moves in 2023
It should be no surprise that renters in California and New York were the most likely to move cities and states, looking for more affordable accommodations that still allowed them to telecommute to work.
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