Affordability and availability of homes are now scarce commodities. Spring 2023 saw a mere 400K homes on the market, a sharp ↓ from 1M in 2019. Also high rents and housing prices make saving for a down payment tough....
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If you are planning to sell your house, it is important to keep in mind that buyers today value energy efficiency and eco-friendly features. The 2023 Realtors and Sustainability Report from the National Association of Realtors (NAR) shows that 48% of agents or brokers have noticed consumers are interested in sustainability. To make your house more appealing, consider upgrading it with features such as...
The spring homebuying season in the US is experiencing intense competition despite predictions of a market crash and bargain prices.The supply of available homes is decreasing, as homeowners with historically low mortgage payments have no incentive to sell.Bidding wars have become common, reminiscent of more prosperous times....
The global real estate market is expected to reach USD 8,364,886.92 million by 2027. The market is forecasted to grow at a CAGR of 4.14% during the forecast period. Trends Impacting the Real Estate Market in 2023: 1- Sustainability and Green Buildings 2-Technological Integration 3-Urbanization and Mixed-Use Developments...
The Fed hiked its key interest rate by 25 bps to 5.5%The Fed expresses doubt that inflation will continue to decrease towards its 2% target without implementing another rate hike....
The number of build-for-rent homes under construction has reached an all-time high of 44,700. That is ↑ 3X the number of homes completed in 2022. In 2022, over 14,500 BFR homes were completed, ↑ 47% yearly and the highest yearly total to date. Prior to 2020, the avg number of BFR homes built annually was only 6K....
1. Mortgage rates are unlikely to budge. 2. Housing inventory might ↑, but only slightly. 3. Home sales could ↓. The decision to buy or sell requires careful consideration individually....
By making bi-weekly mortgage payments, a buyer can save up to $20K in interest on a $200K loan with a 4.1% APR over a 30-year loan. This is because 26 half-payments or 13 full payments are made per year, instead of the usual 12 payments. This results in paying less interest over time and building equity faster. Continue to full article...
Mortgage interest rates have been volatile recently, due to investors trying to guess the Federal Reserve’s next move. The Fed has been steadily increasing its own short-term rate to bring down inflation, which has caused mortgage rates to go up, down and up again. While inflation has decreased, it is still higher than the Fed’s 2% goal. Higher rates have made it more challenging for buyers to...
