Buyers are finally getting more housing options to choose from. Read more from NAR’s latest housing report.Home affordability conditions are improving slightly, which helped to fuel more real estate transactions in July. Existing-home sales, which account for completed transactions for single-family homes, townhomes, condominiums and co-ops, saw their first uptick in about four months, rising 1.3% in July compared to June, NAR’s latest housin
The slow price growth is attributed to a shortage in housing inventory and limited buyer competition, according to a Redfin report published on TuesdayWhether it’s refining your business model, mastering new technologies, or discovering strategies to capitalize on the next market surge, Inman Connect New York will prepare you to take bold steps forward. The Next Chapter is about to begin. Be part of it. Join us and thousands of real estate
Our list of the top 50 ZIP codes shows the concentration of buyer demand in affordable Midwest markets and well-located Northeast markets that offer convenience and value. Homes in the hottest ZIP codes tend to be larger than the U.S. average. Despite their size advantage, a majority of the hottest ZIPs see prices at or below the U.S. median. The Northeast markets on the list tended to be higher priced, but offered more space at a discount relati
Affordable Housing Challenges Persist in Austin Despite Rental DecreaseDespite a recent decrease in rent prices in the Austin area, many residents continue to struggle with finding affordable housing options. The story of Leigh Vladyka, an art teacher at an Austin public school, highlights the ongoing difficulties faced by individuals trying to make ends meet in a city where housing costs are rising faster than incomes.Leigh Vladyka's monthly ren
The latest Realtor.com Rental Report reveals a significant shift in the US housing market, as renting a starter home has become more financially advantageous than buying in all of the 50 largest metropolitan areas. This trend, observed since February, is driven by elevated mortgage rates, high home prices, and a decline in rents. However, in July, a milestone was reached in which renting became more affordable than buying in all major metros, a c
Inflation rose as expected in July, driven by higher housing-related costs, according to a Labor Department report Wednesday that is likely to keep an interest rate cut on the table in September.The consumer price index, a broad-based measure of prices for goods and services, increased 0.2% for the month, putting the 12-month inflation rate at 2.9%. Economists surveyed by Dow Jones had been looking for respective readings of 0.2% and 3%
Whether for their own convenience or to increase the value of their property, homeowners are in the market for green technologies.Sustainability, once a buzzword in the modern economy, has now become a necessity for attracting and retaining eco-conscious customers. This is especially evident in the real estate sector, where more homebuyers and homeowners are demanding green solutions for residential systems that improve energy efficiency and deli
The White House is expanding low-cost financing, easing regulations and incentivizing local reforms in a wide-ranging effort to increase housing supply.The White House is announcing $100 million in grants to state and local governments to spur the construction of new housing, one of a host of new administrative actions to boost housing supply.The Biden administration has witnessed record levels of housing production, driven by a pandemi
High homebuying costs continue to push consumers toward rentals, fueling a multifamily boom. But how long will it last?A record number of new apartments—more than half a million—are expected to hit the market by the end of the year as high rental demand continues to fuel a multifamily construction boom, according to a new report(link is external) from RentCafe. This would mark the third consecutive year that apartment construction r
Borrowing costs have fallen to their lowest level in more than a year, but homebuying activity is only seeing small gains.Mortgage rates have fallen in recent weeks, but home buyers are showing restraint rather than rushing back into the housing market to snag a lower rate. ‘’The 30-year fixed-rate mortgage averaged 6.47% this week, Freddie Mac reports.Even as mortgage rates remain at their lowest level in more than a year, mortgage applicati
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