Smaller outlying markets are among the hottest housing markets in the nation. In particular, several California markets are seeing rising demand for housing, but it’s mostly the smaller cities within the Golden State that are seeing the most activity as affordability becomes a more pressing issue.A year ago, realtor.com®’s monthly analysis of the hottest housing markets was once dominated by large California markets like San Francisco and Sa
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The buying frenzy continues as multiple offers become the norm and buyers offer thousands or tens of thousands above the asking price to try to get the home they want. In many cases, buyers also are increasingly waiving appraisals and even some inspections to make their offers stand out.Buyers are also feeling a greater sense of urgency as mortgage rates begin to rise, and they’re eager to lock in a low rate ahead of any further increases.
Following months of sharp gains, existing-home sales reversed course in February, falling 6.6%, the National Association of REALTORS® reported Monday. However, the dip—precipitated by a persistent inventory crunch that’s getting worse—isn’t necessarily a significant drag on the real estate market, says NAR Chief Economist Lawrence Yun. “The market is still outperforming pre-pandemic levels,” he says.Despite the supply challenges, all
Sub-3% mortgages are slowly fading into the rearview mirror as the 30-year fixed-rate mortgage continues to inch up. The 30-year fixed-rate mortgage averaged 3.09% this week, Freddie Mac reports.Economists continue to remind consumers that mortgage rates are still near historical lows and are hovering around 3%. “Even though mortgage rates will likely continue to rise later this year, with the Fed keeping interest rates low, mortgage rates
Construction on new homes weakened in February as material costs—notably on lumber—continued to challenge growth in new-home construction.Housing starts—including for single-family and multifamily building—fell 10.3% to a seasonally adjusted annual rate of 1.42 million units in February, the U.S. Department of Housing and Urban Development and Census Bureau reported Wednesday. Broken out, single-family starts fell 8.5% last month to a 1.0
Baby boomers tended to make up the majority of sellers last year—at 43%—and they also saw the highest profits, too.Overall, home sellers of all age groups who sold their homes last year saw a median gain of $66,000 more than what they originally purchased for—a $6,000 increase compared to the previous year. But for sellers ages 66 to 74, they saw a median gain of $100,000 in equity, according to the National Association of REALTORS®’ “
Energy efficiency is on many buyers’ minds when they shop for new-home construction, according to a consumer survey from the National Association of Home Buyers. The NAHB surveyed more than 3,000 home buyers—both recent and prospective—on the features they most desire in their new home.Many buyers said they’d go with the more sustainable option, such as the use of more durable materials in their home, when presented the option.When the co
Green has become a popular color in kitchens. Appliance manufacturers are reporting an increase in demand for new, custom-colored appliances in green, Forbes.com reports. Also, many designers are calling cabinets that have been painted green a rising trend to watch in 2021, whether the hue is displayed on all the surrounding cabinets or reserved for the kitchen island.The appliances aren’t quite matching the likes of the 1970s avocado-green cra
iPro was founded on the idea of building a better living with champion real estate services. We focus on incorporating and mastering the latest technologies and perform all types of real estate transactions. Our team of professionals set a stronger standard of business and give superior results.Click here for information on becoming a salesperson.
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