Pending home sales dropped in November as many markets continued to face a limited supply of homes for sale. Economists, however, are optimistic for more opportunities for buyers in the new year.The National Association of REALTORS®’ Pending Home Sales Index—a forward-looking indicator of home sales based on contract signings—dropped 2.2% in November, reversing from last month’s increase. All major regions of the U.S. posted declines las
Low-interest rates and a hot stock market fueled a drive in the luxury housing market this year. Sales priced at or over $50 million rose 35% year over year, according to a report from appraiser Miller Samuel, as reported by Bloomberg. That marks a record high, topping 2020 levels, the previous record.“This surge in this tier is unprecedented,” Jonathan Miller, Miller Samuel president and CEO, told Bloomberg. “We’ve never seen this kind o
Single-family purchases made by investors are surging as they see opportunities in the rapid growth of home prices and demand for rentals. The Golden State, shunned by investors for some years, is seeing a strong return.“After a decade of moving away, investors are coming back to California,” writes Thomas Malone, an economist at CoreLogic, in a recent analysis. Of the 11 metro areas with the highest investor shares for the third qu
Several housing providers have recently faced lawsuits that allege the misuse of criminal histories in housing decisions. A recent “Window to the Law” video, posted at the National Association of REALTORS®’ website, highlights best practices in order to avoid a fair housing violation when factoring in criminal background checks.In Florida, up to 48 housing providers have been sued for alleged improper criminal background screening of
Maybe you need to set up a meeting with a client, review a report, or ask a favor. There’s a better way to ask than sending a text or email message.If you want to ask a favor or make a request of someone else, you’re better off asking in person. People are significantly more likely to say “yes” to requests made in-person than they are to requests made via email or text messages.A phone call or video are second best, according to a new stu
The 30-year fixed-rate mortgage posted a big drop this week, falling to a 3.05% average, Freddie Mac reports.“The market volatility resulting from the COVID-19 omicron variant is causing mortgage rates to decrease,” says Sam Khater, Freddie Mac’s chief economist. “As the year comes to a close, the housing market is proceeding steadily. However, rates are expected to increase in 2022 which will impact home buyer demand as well as refinance
Take steps to protect the house during the colder months. A lot of times that starts with the gutters. Unkept gutters can wreak havoc on a home during winter. Leaf Home, a company that offers home solutions, offers the following winter checklist to help homeowners prevent seasonal damage to their home.Check your gutters for seasonal debris.Make sure to remove leaves that have fallen into your gutters and check that pests or small animals did not
In a new report, the real estate firm Walker & Dunlop calls it “the golden age for multifamily.”High rents in the apartment sector are expected to continue in the new year as demand remains strong. Potential home buyers who have been shut out from the competitive housing market are turning to rentals in swarms. Property owners are expected to see record profits in 2022, predicts Green Street, a commercial real estate analytics firm.Strong
Home buyers may have felt more determined in November to purchase before 2021 comes to an end and mortgage rates and borrowing costs increase, as largely is forecasted to happen.Existing-home sales, which include completed transactions for single-family homes, townhomes, condos, and co-ops, rose 1.9% in November compared to October, the National Association of REALTORS® reported Wednesday. Sales, however, are down 2% compared to a year ago.
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