As October began, homebuilding starts were up more than 8% compared to a year ago. But that increase in new homes on the market is still not enough to meet demand, says Lawrence Yun, chief economist of the National Association of REALTORS®. Housing starts in September were at a 1.42-million-unit production level on an annualized basis, but Yun says the annualized number of permits, 1.55 million homes, will better meet housing demand. Permit
The need for curb appeal continues to increase, especially as many local buyers hesitate to enter unfamiliar homes and distant buyers narrow their home-shopping lists from afar in the pandemic. A dismaying front yard may prompt them to move on, whether in person or on the internet.“You only get one chance to make a first impression, and it happens when a potential buyer sees the exterior of your home,” Kate Rumson, interior designer and Trane
Austin, Texas, has become the most sought-after city among millennial renters this year, according to a new study from RentCafe, a nationwide listing service for renters. Millennials have overtaken baby boomers as the largest generation in the U.S. to date. They also make up the majority of the workforce. So the real estate industry has always watched where they call home.RentCafe analyzed 13 million renter applications nationwide to identify the
Paint firms are continuing to release a range of colors as their picks for the hottest hues of 2021. Benjamin Moore is the latest in announcing its choice: “Aegean Teal,” its top color pick for the new year.The blue-green midtone, with gray undertones, is “rooted in the elegant, hand-spun textures of the home,” Benjamin Moore says. The color evokes a sense of comfort, craft, nourishment, and inspiration, the paint company says.“Amid unc
The National Association of REALTORS® announced Friday that it has partnered with global financial services firm Morgan Stanley to offer investment guidance and other financial wellness resources to members. With only 52% of REALTORS® actively saving for retirement, according to NAR’s 2019 Financial Planning Report, the newly available financial planning and investment guidance—offered through NAR’s Center for REALTOR® Financial Wel
Mortgage rates fell slightly this week, setting a new record low for the 10th time this year, Freddie Mac reports. The 30-year fixed-rate mortgage averaged 2.81%, the lowest rate since Freddie Mac began tracking such data in 1971. The previous all-time low, an average of 2.86%, was set in mid-September.“Low mortgage rates have become a regular occurrence in the current environment,” says Sam Khater, Freddie Mac’s chief economist. “As we h
More homes are gradually coming onto the market in a hopeful sign that homeowners may finally be warming up to the idea of selling, according to data from realtor.com®’s latest Weekly Housing Report. An incremental uptick in available inventory is welcome news to home buyers struggling to find a property to purchase. Last week, homes sold a full two weeks faster than the same time period a year ago and were listed for an average of $38,000 mor
Florida dominates this year’s “Best Places to Retire in 2020” from U.S. News & World Report “in a way that we haven’t seen in years before,” says Emily Brandon, U.S. News & World Report’s senior editor for retirement.Brandon says Florida is drawing more retirees due to the state’s affordable homes, low taxes, and high ratings for happiness and desirability. Florida boasted seven of the top 10 places to retire in 2020 on U.
The pandemic has sparked Americans to relocate in large numbers. From February through July, more than 15.9 million people filed change-of-address requests with the United States Postal Service.Twenty-eight percent of nearly 10,000 adults recently surveyed by the Pew Research Center said the most important reason they moved was to reduce their risk of contracting COVID-19. Another 23% said they moved because their college campus closed; 20%
The pandemic has made Americans more interested in buying a second home. Online search traffic for vacation homes has reached a five-year high, according to a recent analysis by Point2Homes.com. Searches for houses for sale in popular second-home spots such as Big Sky, Mont., and Fort Bragg, N.C., are up 177% and 143% year over year, respectively.Interest in second homes has more than doubled over 2019, according to Point2Homes.com. Google search
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