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 more, realtor.com®’s report shows. Read more.
Young Americans are having their housing preferences shaped by the pandemic. They’re seeking larger homes and outdoor space, yet in walkable areas, according to findings from the 2020 Community and Transportation Preference Surveys recently conducted by the National Association of REALTORS®. Read more.
Forty-three percent of 30-year mortgage holders are eligible for a refinance that would lower their mortgage rates, a new study shows. That means their credit rating is at least 720, they have at least 20% equity in their homes, and they can reduce their mortgage rate by at least 0.75% through refinancing, according to data compiled by research company Black Knight. Read more.
Millennial home shoppers are quickening their homebuying timelines due to the COVID-19 pandemic, according to a new survey by realtor.com® and HarrisX of 2,000 buyers. Born between 1981 and 1997, millennials make up the largest generation in U.S. history, and they are now very eager to buy, many surveys show. Read more.
Bathrooms tend to be smaller spaces, making it easier for house hunters to miss things during a virtual tour. Potential problem areas may require further inspection. Sometimes real estate pros need to be the in-person eyes during their buyers’ search for properties online. Read more.
As long as the proper health precautions are in place, seniors say, they are willing to resume home searches and purchases, a new report from John Burns Real Estate Consulting shows. Several age-qualified communities nationwide are reporting particularly strong home sales in August and September, the report says. Read more.
Real estate is popping up in more people’s dreams. Vivid dreams are one of many side effects being tied to COVID-19. And reportedly, many of these “quarandreamers” are having dreams related to real estate, such as moving into a mansion, doing a home renovation project, or even feeling trapped in cluttered spaces. Read more.
The pandemic has inspired a wave of home renovations as owners are spending more time in their homes. And renovators say it’s been good for their mental health, according to a new study conducted by CouponFollow of more than 1,000 homeowners and renters about do-it-yourself home projects they’ve tackled during the pandemic. Read more.
Single-family landlord giants are expecting a surge in repossessed homes as millions of homeowners have fallen behind on their mortgage payments and may be at risk of losing their homes once eviction moratoriums end. Read more.
Empty nest no more? The COVID-19 pandemic has prompted millions of young adults to move back in with their parents since the spring. The majority of 18-to-29-year-olds now live with their parents, surpassing the previous peak during the Great Depression, the Pew Research Center reports. Read more.