Sales of newly built single-family homes rose 18.9 percent last month, according to data from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. This represented the highest sales rate since October 2007, with a seasonally adjusted annual rate of 667,000 units, after an upwardly revised August reading. Compared to last year, new-home sales are 8.6 percent above their level during the same period in 2016."New-home sal
The home-sharing service Airbnb may increase home prices and rental rates, The Wall Street Journal reports from an as-yet unpublished working paper.Between 2012 and 2016, researchers analyzed rents and home prices in the 100 largest metro areas. They found that a 10 percent increase in Airbnb listings leads to a 0.39 percent increase in rents and a 0.64 percent increase in home prices."That may sound minuscule, but between 2012 and 2016, rents
With home prices skyrocketing across the country, finding a cash-flowing rental property may prove more challenging. The rising costs of owning the property are squeezing out more investors’ profits.ATTOM Data Solutions, a real estate tracking firm, identified the places where landlords can still find income-producing properties. The research team looked at 8,841 U.S. ZIP codes to find the best rental properties with cash-producing opportunitie
Homeowners affected by the California wildfires may be eligible to defer their mortgage payments for up to 12 months. Mortgage financing giants Fannie Mae and Freddie Mac have issued guidelines for wildfire victims with single-family mortgages.Victims may be eligible to stop making mortgage payments in three-month intervals, up to 12 months. They also may be eligible to avoid late fees during this temporary payment break, and to not have delinq
Consumers trust real estate professionals and lenders more than online sources or family and friends when it comes to obtaining information about mortgages, according to a new Fannie Mae survey based on 1,000 responses. Recent home buyers surveyed, including younger age groups, say they consulted multiple sources of information about the mortgage process but found lenders and real estate agents to be more credible than mobile apps, websites, an
Towns in Texas, Michigan and Colorado offer affordability and lifestyle perksRealtor.com has announced its 2017 hottest ZIP codes, and 10 Texas, Colorado, Michigan and California towns dominated the list.Realtor.com analyzed 32,000 ZIP codes based on the time it takes properties to sell and how frequently homes are viewed in each ZIP code. Homes in each of the markets in this year’s top 10 list sold in an average of 21 days — 29 days faster t
Following three consecutive months of declines, existing-home sales ticked up in September from the previous month—but ongoing inventory shortages, coupled with recent hurricanes, muted any annual gains, the National Association of REALTORS® reported Friday.Total existing-home sales, which include single-family homes, townhomes, condos, and co-ops, increased 0.7 percent to a seasonally adjusted annual rate of 5.39 million in September, 1.5 per
Home buyers in different regions of the U.S. pay vastly different prices per square foot. The median price per square foot on a new single-family home ranges from $81 to $150 across the country, with the highest being in New England, according to a National Association of Home Builders analysis. The Pacific Division of the country has the second highest median price, at $138 per square foot. On the other hand, the lowest median prices can be foun
Borrowers may be able to lock in lower interest rates this week, as the 30-year fixed-rate mortgage dips to a 3.88 percent average.“Rates came down slightly this week, ending a brief two-week streak of increases,” says Sean Becketti, Freddie Mac’s chief economist. “The 10-year Treasury yield dipped 6 basis points, while the 30-year fixed mortgage rate fell 3 basis points to 3.88 percent.”Freddie Mac reports the following national aver
About 100 cities across the country have submitted their final bids to be the home of Amazon’s second headquarters, known as HQ2, as municipal leaders argued for why their community is the best pick. However, it won’t be all good news for the metro Amazon ultimately selects in 2018, especially when it comes to housing. HQ2 will bring with it up to 50,000 new jobs, which will undoubtedly put greater upward pressure on already sky-high rents
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