Real Estatin' the Facts

   Here's the weekly round-up of news. Check it out, save it for later, and/or share it with your friends. Enjoy! New single-family homes are getting bigger Source: National Assn. of Homebuilders The pandemic has prompted more Americans to want to supersize their homes. The median single-family square floor area as increased to 2,337 square feet as of the third quarter, while the average (mean) square footage of new single-family homes rose to 2,541, according to the latest Census Bureau data, as reported by the National Association of Home Builders.  READ MORE...  Single women outpace male counterparts in homebuying Source: OC Register Over the past 40 years, single females have made up the second-largest demographic among U.S. homebuyers since 1981, steadily overshadowing single males, according to the National Assn. of REALTORS®. Married couples make up the largest share of homebuyers. In the year ending in June, divorced, widowed and never-married women accounted for 19% of all

   Here's the weekly round-up of news. Check it out, save it for later, and/or share it with your friends. Enjoy! What to know if you’re thinking about buying a home soon Source: Market Watch With mortgage rates near historic lows and housing prices on the rise, potential homebuyers may be wondering whether they should buy now. Experts say to stop trying to time the market looking for the perfect time to buy and instead, focus on your personal circumstances. For instance, if you plan to be in the home for 5 years or more, buying instead of renting likely makes the most sense. But understand what you can truly afford, and don’t get caught up in the real estate frenzy.  READ MORE...  How the pandemic changed the housing market  Source: Marketplace As with many other industries, the pandemic accelerated technological change in real estate. Going forward home buying will be different from what we were once used to. For instance, home searching will be much more high-tech, such as using

   Here's the weekly round-up of news. Check it out, save it for later, and/or share it with your friends. Enjoy!  Baby boomers playing a larger role in housing market Source: Zillow Baby boomers are taking part in the housing market at a much higher rate than they had in 2009. Buyers over the age of 60 jumped 47% from 2009 to 2019. In the same time frame, those between the ages of 18 to 39 dropped 13%, according to Zillow. With an aging population helped by an improving economy, individuals of every age group over 30 were buyers at higher rates in 2019 than those same age groups in 2009. Zillow said the 2008 recession played a role in the lower number of Baby Boomers participating in the market during 2009 as well as a decrease in construction.  Read more...  Mortgage delinquencies fall to lowest level since pandemic Source: CoreLogic With homeowners keeping up with their mortgage payments or arranging for loan modifications with their service providers, the overall delinquency ra

   Here's the weekly round-up of news. Check it out, save it for later, and/or share it with your friends. Enjoy! Buying a second or third home is more popular than ever Source: Bloomberg With the rise of remote working, second homes are becoming a viable option for more buyers seeking a better work/life balance. Nearly one in five respondents to a Knight Frank Global Buyer Survey said they moved since the start of the pandemic and one in three said they were more likely to buy a second home as a result of the pandemic, up from 26% the prior year. Low interest rates on home loans, pandemic-era savings and a hybrid-work revolution have made it more feasible for people, not just the ultra-rich, to live a dual lifestyle. That fundamental change in where and how people live stands to infuse second-home markets, once reliant on weekenders and seasonal visitors, with greater demand for restaurants, retail and other amenities that make urban dwelling so appealing.  Read more...  Lenders a

   Here's the weekly round-up of news. Check it out, save it for later, and/or share it with your friends.  Enjoy! More than half of Americans don’t mind commute Source: Compare.com Slightly more than half of American workers recently surveyed said they enjoy their commute to work, according to a survey of about 1,000 people conducted by Compare.com, an auto insurance website. Only 21% of those surveyed consider their commute a negative part of their day. What’s more, 91% of consumers who favored commutes said it is at “least slightly important” to have a commute for a good workday, the survey says. Most workers said it gave them time to prepare for the day, they appreciated the alone time, and it allowed them time for reflection. Also, 41% said they used that time to unwind before arriving home.  Read more...    Co-buying skyrockets in past 7 years Source: REALTOR® Magazine Millennials are pooling their finances with roommates, friends, and significant others to buy a home togethe

   Here's the weekly round-up of news. Check it out, save it for later, and/or share it with your friends. Enjoy! Signs that buyers will see good opportunities in the fall Source: Nerd Wallet Hopeful buyers who keep getting shut out may soon find better luck this fall, as several signs in the housing market point to more potential buying opportunities. For one, competition is reportedly cooling, and listings are receiving fewer offers. In September, the real estate brokerage Redfin reported that bidding wars reached their lowest level this year. Also, more listings are coming to market, offering buyers more choices, according to a Realtor.com® report showing housing inventory is at a high for 2021. Nearly one-third of the 50 largest metros saw increases in the number of newly listed homes compared to last year.  Read more...  Two million renters can afford to buy thanks to remote working Source: Zillow The rise in remote working during the COVID-19 pandemic has had at least one pos

   Here's the weekly round-up of news. Check it out, save it for later, and/or share it with your friends. Enjoy! What Americans will sacrifice to buy a home Source: Cinch Home Services 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... Buyers consider disaster risks in purchasing decisions Source: Realtor.com About three in four recent home buyers say they factored in natural disasters when choosing a location for their new home, according to a new survey of about 3,000 consumers conducted by Realtor.com®. Seventy-five percent of recent home buyers

  Here's the weekly round-up of news. Check it out, save it for later, and/or share it with your friends. Enjoy! Americans cashing out on home equity Source: Inman With interest rates remaining low and home prices on the rise, the amount of cash-out refis has shot up 41% over the last three months, according to Black Knight Mortgage Monitor Report.  The rise in home equity — the value of a homeowner’s interest in their home, after subtracting what they owe on their mortgage — is also good news for borrowers who decided to put their mortgage payments on hold during the pandemic.  Read more...     Remote work will fuel housing demand for years Source: Benzinga A recent Zillow survey found that while remote workers were far more likely to move, approximately 40% of respondents said they did not know if or when they would be required to return to their workplace. However, more than 80% of respondents said they wanted to work remotely at least occasionally while 44% wanted to work from

   Here's the weekly round-up of news. Check it out, save it for later, and/or share it with your friends. Enjoy! Bidding wars fall to lowest level since 2020   Source: Market Watch The frequency of bidding wars on homes has dropped to the lowest level this year — the latest sign that the housing market may be cooling and reverting back to its usual seasonal patterns.  Redfin found that 58.8% of the offers on homes written by the company’s real-estate agents faced competition in August, down from 62.1% the month prior and a peak of 74.3% reached back in April. Redfin defines a bidding war as any situation where there are at least two competing bids on a home.   Budget stresses weigh on consumers   Source: Qualia Nearly a third (30%) of buyers said that, to win in a competitive offer situation, they paid more than they anticipated on their home purchase. Of those who did, 32% paid $52,000 or more over the asking price, according to the Homebuyer Sentiment Index conducted by Qualia,