The latest housing data shows consumers returning to urban areas after abandoning cities for the suburbs in the early days of the COVID-19 pandemic. In places such as New York, San Francisco, Chicago, and Boston, some rental buildings went from full occupancy to 50% vacant as remote work and school enabled residents to move to less congested areas.But now there are signs of a reversal of that trend.The Greater Boston Association of REALTORS® rep
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Real estate pros are quickly submitting offers for clients as the buyer frenzy, unusual for the winter season, continues.Sales have slowed slightly from the high levels recorded this fall. Pending home sales slid in November by 2.6% compared to those in October, according to the National Association of REALTORS®’ Pending Home Sales Index, released on Wednesday. November’s decline marked the third consecutive month for monthly decreases in pe
New York state has a tough new eviction law that will make it harder for landlords to evict tenants who can’t pay their rent. But the new law also includes provisions making it harder for banks to foreclose on smaller landlords—those with fewer than 10 rental units—who are having their own financial difficulties.Legislators called a special session this week to pass the measure, and New York Governor Andrew Cuomo quickly signed the bill, pu
Disinfecting took on new prominence in 2020. Keeping bad germs out of your listings and office became critical in the pandemic. Americans learned more about the proper ways to disinfect this year.For one, cleaning may be what you have traditionally done for prepping listings prior to 2020. Cleaning is all about aesthetics and a home looking spotless and ridding it of dirt. But sanitizing and disinfecting went mainstream in 2020. This is reducing
On Sunday night, President Donald Trump signed a $900 billion COVID relief package that authorizes rental assistance, stimulus checks to individuals for $600, loans for struggling small businesses, and more.The president had delayed signing the bill for several days after Congress approved the relief package early last week. Trump had disagreed with extra unrelated COVID relief spending measures contained in the bill and had urged more money than
New-home sales decreased from October to November as high buyer demand and several building headwinds continued to press on builders’ ability to catch up. Sales of newly built single-family homes dropped 11% in November compared to the previous month, according to the latest new-home sales data released by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.Despite the monthly dip, new-home sales are still 20.8% high
The pandemic is accelerating a multigenerational household trend: Family members are bringing their older relatives into their household, young adults are moving back home, and families are pooling their financial resources due to a job loss or as a way to conserve money and accommodate more members of their family.Housing experts believe the multigenerational trend will last for some time—and may be here to stay.About 16% of buyers have opted
As the pandemic wears on, more homeowners are looking to spruce up their nests by searching for home design inspiration online.Houzz, a home remodeling and design resource site, recently analyzed the most popular home design searches of the year to determine the most popular trends during the pandemic began. The two standout trends relate to the outdoors and creating cozy getaways at home.Looking at searches from May to July, Houzz found that use
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