The number of home shoppers buying a multigenerational home since the pandemic has risen to a nine-year high of 15%, according to data from the National Association of REALTORS® dating back to 2012. That means home shoppers are looking for larger homes that can accommodate more family members living under one roof.The top reason to buy a multigenerational home is for aging parents to move in and for younger family members to take care of that ag
Many areas of the country are experiencing melting snow and ice, and when it melts too quickly, it can cause costly and damaging flooding to basements and homes. Rapid melting creates more water pooling around the foundation of homes, putting basements at risk.“The best way to keep your basement from flooding is by shoveling the snow at least five feet away from the foundation before it has a chance to melt,” Lifehacker.com suggests in a rece
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Financing and appraisals are the culprits causing the most delays in home sales or terminated contracts, according to the latest REALTORS® Confidence Index survey.With little supply on the market, homes are continuing to sell quickly—typically within 21 days—and are garnering an average of nearly four competing offers, according to the report. Home prices have been rising by double-digit percentages over the past year, which could help expla
A federal judge in Texas has ruled that the Centers for Disease Control and Prevention’s eviction moratorium is unconstitutional, a decision that could set legal precedent and have a sweeping effect on housing providers across the country. Under the moratorium, which President Joe Biden has extended through March, housing providers cannot evict tenants who can prove financial hardship due to the COVID-19 pandemic.U.S. District Judge John C
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The 30-year fixed-rate mortgage came off its recent all-time lows to average near 3% this week. The 10-year Treasury yield, which mortgage rates closely follow, hit its highest level in the past year, prompting the increase in rates.“As the economic recovery progresses, mortgage rates are expected to rise further in the upcoming months,” writes Nadia Evangelou, senior economist and director of forecasting at the National Association of REALTO
Homeowners struggling financially during the COVID-19 pandemic have received another extension for their mortgage payments. The Federal Housing Finance Agency announced Thursday it is providing an additional three months of forbearance to borrowers with loans backed by Fannie Mae and Freddie Mac, bringing forbearance up to 18 months total.To qualify, borrowers must be enrolled in a COVID-19 forbearance plan as of Feb. 28.The FHFA also announced a
Pending home sales dropped in January as inventory challenges continued to persist. Eager buyers are finding a lack of homes for sale. Contract signing fell 2.8% in January from December 2020, but is still 13% higher than a year ago, according to the National Association of REALTORS® reported Thursday.NAR’s Pending Home Sales Index, a forward-looking indicator of home sales based on contract signings, surged to a reading of 122.8 last month—
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