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Some Highlights: According to NAR’s latest Profile of Home Buyers & Sellers, the median age of all first-time homebuyers is 32. With more millennials entering a homebuying phase of life, they are driving a large portion of the buyer appetite in the market, keeping buyer activity strong. More and more “old millennials” (ages 25-36) are [...]
Some Highlights: Existing Home Sales are currently at an annual pace of 5.46 million. The inventory of existing homes for sale remains below the 6 months needed for a normal market and is now at a 3.9-month supply. Inventory remains low due to high demand from buyers who are still looking for a house to [...]
Some Highlights: Many potential homebuyers believe they need a 20% down payment and a 780 FICO® score to qualify to buy a home. This stops many people from even trying to jump into homeownership! Here are some facts to help take the fear out of the process: 71% of buyers who purchased homes have put [...]
Some Highlights: The National Association of REALTORS® surveyed their members for the release of their Confidence Index. The REALTORS® Confidence Index is a key indicator of housing market strength based on a monthly survey sent to over 50,000 real estate practitioners. Practitioners are asked about their expectations for home sales, prices, and market conditions. Homes across the country are selling [...]
Some Highlights: Learning the lingo of homebuying is an important part of feeling successful when buying a home. From APR to P&I, you need to know the acronyms that will come up along the way, and what they mean when you hear them. Your local professionals are here to help you feel confident and informed [...]
Some Highlights: Keeping an eye on the current status of the housing market is one of the best ways to make powerful and confident decisions when buying or selling a home. Mortgage rates remaining near historic lows and houses selling in an average of only 29 days are just two key elements driving the strength [...]
Some Highlights: There is plenty of talk in the media about a pending economic slowdown. The good news is, home values actually increased in 3 of the last 5 U.S. recessions, and decreased by less than 2% in the 4th. Many experts predict a potential recession is on the horizon. However, housing will not be [...]
Some Highlights: The pumpkin spice latte is launching soon, so you may be tempted to spend your extra cash on a daily caffeine fix, but that small expense can add up to a big number – fast! Saving for a down payment takes a little discipline, so limiting your extra purchases (like a latte a [...]
Some Highlights: Owning your own home vs. renting may lead to some great options, such as locking in your monthly payments and having the freedom to customize your living space. Whether you rent or own, you have to cover someone’s mortgage costs. You may as well be doing so to build your own wealth, rather [...]
Some Highlights: Existing Home Sales dropped 1.7% from May to a seasonally adjusted annual rate of 5.27 million in June. Low inventory levels are still a factor in the market. The current supply of homes for sale is at 4.4 months, which is less than the optimal 6-month supply. Median home prices were up 4.3% [...]