A sluggish reading on housing production last month was mostly due to a decline in the construction of apartment buildings and condos. Housing production, reflecting multifamily and single-family homes, dropped 3.7 percent in April to a seasonally adjusted annual rate of 1.29 million units, the Commerce Department reported Wednesday. The decrease follows an 11-year high in housing production that was set in March.“We expected some pullback this
Real estate pro Ben Caballero of Dallas has made history: He’s the first real estate agent ever to be recognized by the Guinness World Records for a mammoth number of home sales. Caballero sold 3,556 verified homes in a single year—this means essentially selling an average of more than 68 homes per week, or nearly 10 homes per day, every day of the week.Caballero was honored this week for his achievements at a REAL Trends conference in Denve
Minneapolis, Portland, and Chicago are the best cities for bicycling in 2018, according to the revamped Bike Score rankings by the Redfin company Walk Score.The Bike Score tool rates locations based on several factors on its bike-friendliness, such as access to bike loans, road connectivity, and hilliness. Bike Score ratings are available now for nearly 2,000 cities and about 20,000 neighborhoods on walkscore.com. Redfin has identified bike path
National Association of REALTORS® members learned about HUD’s top priorities, security protocols both on and offline, and new loan options for military veterans as the 2018 REALTORS® Legislative Meetings & Trade Expo continued Wednesday.In a conversation with NAR First Vice President Vince Malta during the General Session, HUD Secretary Ben Carson said the public needs more education about what constitutes sexual harassment.HUD Seeks End
Generations of retirees are showing a shift in housing priorities. John Burns Real Estate Consulting recently compared nearly 3,000 registered new-home shoppers born in the 1940s to more than 5,200 new-home shoppers born in the 1950s to uncover some of those shifting trends.For one, younger retirees are showing more preference to live near dog parks. The 1950s generation surveyed rated a dog park as their top retiree amenity, which replaces golf
The chief reasons homeowners undergo a remodel are because they desire better and newer amenities or they feel compelled to repair or replace old components in their home, according to the National Association of Home Builders’ Remodeling Market Index. These two reasons have tended to drive most remodels in recent years, but other reasons are growing in popularity among homeowners.Notably, three reasons to remodel are on the upswing: a “desir
The number of vacant homes in the U.S. surged during the Great Recession. Many cities recovered and fewer homes are standing empty, but not everywhere. The number of homes that have been abandoned has risen 2.1 million nationally in recent years, and vacant properties continue to be a drag on former industrial epicenters or the nation’s “legacy” cities, according to a newly released report. These are properties that are sitting unused and a
The Great Recession still has a lasting impact on how many consumers shop for homes today, builders say. Even consumers who did not lose a home to foreclosure during the housing crisis are still shopping for homes more cautiously than they did during the early 2000s and the height of the housing boom.“Buyers became more cautious in the homebuying process,” says Dennis Webb of Fulton Homes. “If they were not directly affected, then they cer
Before buyers make an offer, they’ll want to be clear on what stays and what goes with the house, as well as what’s up for negotiation.In general, buyers keep anything permanently attached to the house. However, in some markets, there can be a gray area when it comes to appliances and custom-built pieces.“People usually put riders in the contract to lay out who gets what, and a buyer should make sure their attorney helps with this negotiati
Some 9,000 REALTORS® and state and local association executives are convening in Washington, D.C., this week to promote key policy issues that affect the real estate industry and their markets. At the REALTORS® Legislative Meetings & Trade Expo, which runs from May 14-19, members will meet with lawmakers and Trump administration officials to advance policies on a host of concerns, including housing inventory and affordability, the Nationa
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