With moratoriums in place, foreclosures were nearly non-existent last year. Even as pandemic protections have lifted, a foreclosure wave—which was an industry concern—has not occurred. Read more.
Renters Missed Out on $51K in Equity This Year
Rents have been surging. Since January of this year, the national median rent has climbed by 16.4%, according to the latest National Rent Report from Apartmentlist.com. Rents aren’t slowing down either as demand continues to remain high. Read more.
What Americans Will Sacrifice to Buy a Home
Most Americans want to own a home at some point in their life, and they say they’re willing to make sacrifices to achieve it. For some, that means forgoing alcohol or vacations for a year to save. But others say they’re willing to give up having kids in order to have their dream home. About 60% of recent survey respondents say they’d prefer their dream home over 40% who said they’d prefer kids first, according to a new survey from Cinch Home Services, a home warranty firm. Read more.
Building Material Costs Surpass Records
Prices for building materials have climbed 19.4% over the last 12 months, increasing 13% in 2021 alone, according to Bureau of Labor Statistics data. Read more.
Lift in Listings as Home Prices Shatter Records
As home listing prices break another new record, more homeowners are looking to take advantage and list their homes for sale. New listings in June rose 5.5% year-over-year and are up 10.9% over the prior month, according to a new report from realtor.com®. Read more.
Older Homes Gaining New Appeal
In the frenzy of the hot housing market, more buyers are being drawn to older homes for their historic charm. But where are older homes best available exactly? Read more.
Tech Firms Are Leading Return to the Office
The big question since the pandemic: Will workers return to the office or is remote work here to stay? Already, some commercial forecasters are surprised by the reversal of what they thought would be a lasting desire to work from home. Office spaces may once again grow in demand soon. Read more.
‘This Isn’t a Bubble’
The U.S. housing market is on a hot streak with double-digit annual gains in home prices, bidding wars, and surging buyer demand. That type of soaring housing market is prompting more “bubble” fears in some corners, but economists say the housing market isn’t getting overinflated. Read more.
Senior Living Communities Focus on Expanding Digital Services
COVID-19 restrictions last year led to many seniors feeling cut off and unconnected as they sheltered in. Now, many senior living condo and apartment operators are using digital services to help keep their residents more connected. These digital tools and services aim to fight social isolation using a wide range of gadgets and techniques, such as video chat apps, virtual assistants, livestreamed fitness classes, and virtual reality day trips. Read more.
Report: Frontline Workers Face Brunt of Housing Shortage
The pandemic is exacerbating a crisis for middle-income frontline workers searching for homes, according to a new study from the Urban Land Institute’s Terwilliger Center for Housing. Read more.