Archives for January 2017

Pending Home Sales Rise In December

When a buyer signs a contract to purchase a home, it is referred to as a pending sale because it usually takes a few weeks before the transaction closes and the house is considered officially sold. Since most of these transactions end in a sold house, the National … [Read more...]

House Payment Less Than Rent In Most Markets

An analysis of data from the U.S. Department of Housing and Urban Development and the Bureau of Labor Statistics found that a monthly house payment – including mortgage, property taxes, and insurance – is more affordable than rent in 66 percent of the 540 counties included … [Read more...]

How You Compare To The Typical Home Seller

The National Association of Realtors' Profile of Home Buyers and Sellers takes an annual look at the who, what, where, and how of the year's typical real-estate transaction. Based on a survey sent out across the country, the results reveal things like how much the average … [Read more...]

Housing Outlook Sees Strong Year Ahead

Though there is some uncertainty about how changing economic policies might affect the economy and housing market in the months to come, Fannie Mae's most recent Economic and Housing Outlook from their Economic & Strategic Research Group sees continued improvement ahead. … [Read more...]

New Home Market Off To Optimistic Start

New data from the Commerce Department and the National Association of Home Builders shows builders are optimistic about the market for new homes this year. That's an encouraging sign, as a lower than normal number of homes available for sale has caused affordability … [Read more...]

Mortgage Rates Hit Lowest Level In A Month

According to the Mortgage Bankers Association's Weekly Applications Survey, average mortgage rates fell again last week – marking the third consecutive weekly decline. The drop brought rates to their lowest level in a month, with decreases seen across all loan categories … [Read more...]

Where Millennial Home Buyers Are Buying Now

The fact that young Americans aren't buying homes at the rate they used to isn't news. Ever since the housing crash, Millennial homeownership rates have been lower than historically normal. In fact, homeownership rates among buyers between the ages of 18 and 34 dropped 8 … [Read more...]

The Top Buyer Fears And How To Fight Them

For a lot of people, buying a home is both exciting and a little bit intimidating. On the one hand, it's seen as a vital part of achieving the American dream and, on the other, it's a major financial undertaking that comes with some real risks. So what are some of the top … [Read more...]

Home Size Shrinks For First Time Since 2009

For many years now, the average size of a newly built home has been going up. In fact, by 2015, the typical new home was 2,689 square feet – by comparison, the average was 1,660 square feet in 1974. That longtime trend took a step back last year, however. In 2016, the … [Read more...]

Market Movement Sends Mortgage Rates Down

According to the Mortgage Bankers Association's Weekly Applications Survey, average mortgage rates fell last week across all loan categories, including 30-year fixed-rate mortgages with both conforming and jumbo balances, loans backed by the Federal Housing Administration, … [Read more...]