Older millennials will be trade-up buyers with many having owned their first homes long enough to see substantial equity gains.
47% of New Buyers Surprised by How Affordable Homes Are Today
For first-time buyers, especially, the drop in the 30-year mortgage rate…has provided unexpected leverage. Lower rates allowed many buyers to stretch and buy more expensive homes while keeping their monthly budget the same.
Do I Really Need a 20% Down Payment to Buy a Home?
The reality is, whether you’re looking for your first home or you’ve purchased one before, you most likely don’t need to put 20% down.
What Record-Low Housing Inventory Means for You
Total housing inventory at the end of December totaled 1.07 million units, down 16.4% from November and down 23% from one year ago (1.39 million).
Owning a Home Is Still More Affordable Than Renting One
Owning a median-priced three-bedroom home is more affordable than renting a three-bedroom property in 572, or 63 percent of the 915 U.S. counties analyzed for the report.
What’s the Difference between an Appraisal and a Home Inspection?
In simplest terms, a home appraisal determines the value of a home, while a home inspection determines the condition of a home.
Key Terms to Know in the Homebuying Process
Here is a list of some of the most common terms in the homebuying process.
A Homeowner’s Net Worth Is 40x Greater Than a Renter’s
Recent data from the Federal Reserve indicates the net worth of a homeowner is actually over 40 times greater than that of a renter.
Homes Across the Country Are Selling Fast
According to the latest report from the National Association of Realtors (NAR), in July, 68% of homes were on the market for less than a month.
How Low Inventory May Impact the Housing Market This Fall
Real estate continues to be called the ‘bright spot’ in the current economy, but there’s one thing that may hold the housing market back from achieving its full potential this year: the lack of homes for sale.