Luxury home sales are cooling off, and some home sellers are finding they may have to invest in a few upgrades to nab top dollar for their home.High-end sales posted a 7 percent gain in October annually, the second slowest increase in more than two years, according to an analysis from realtor.com®. And while sales are slowing, inventories of homes for sale are swelling. The total number of properties listed at or above $1 million is posting doub
The new year is kicking off with lower mortgage rates for home shoppers and people looking to refinance their mortgages. The benchmark 30-year fixed-rate mortgage dipped to a 4.51 percent average this week, Freddie Mac reports.“Low mortgage rates combined with decelerating home price growth should get prospective home buyers excited to buy,” says Sam Khater, Freddie Mac’s chief economist. “However, it will be interesting to see how the re
Pending home sales slipped in November, but a reversal is in sight, according to the National Association of REALTORS®’ latest housing report.NAR’s Pending Home Sales Index—a forward-looking indicator based on contract signings—decreased 0.7 percent to a reading of 101.4 in November. Contract signings are down 7.7 percent year over year.However, “the latest decline in contract signings implies more short-term pullback in the housing se
The single-family rental market has become big business and now compromises the largest source of rental housing in the U.S., according to a new white paper from Freddie Mac. Single-family rentals make up about half of the overall rental market, and it is the single largest segment of the rental market by valuation and households served.The single-family rental market provides housing to 25 million Americans. It fills a particularly vital role in
Several surprising housing markets are expected to see big growth in the new year. Strong economies and a flood of new residents moving in are helping to propel some markets to new levels in 2019.Realtor.com®’s economic team identified the top metros where both the number of sales and the home prices are expected to move higher in 2019. Researchers also evaluated new home construction in the top 100 largest markets against the local economies
Several real estate industry groups, including the National Association of REALTORS®, expressed disappointment over FEMA’s decision to not renew or issue new flood insurance policies during the partial shutdown of the federal government.The ruling is contrary to Congress’ intent to keep the National Flood Insurance Program fully funded through May 31, 2019, housing groups say. It’s also in conflict with FEMA’s previous decision to a
More homes may soon be energy-free. Homes and commercial buildings consume 40 percent of all energy used in the U.S., but the growth of net-zero homes could drastically curtail that. The Zero Energy Ready Homes—those that make the energy they use—are becoming more of a reality.In 2017, 8,547 units of net-zero housing or zero-already housing had been built in the U.S. About 38,863 were under construction, according to the Net-Zero Energy Coali
Do you believe in love at first sight? Many house hunters do: They describe stepping inside a house and instantly feeling like it’s “home.” But was it the price, the amenities, or the location that attracted them? Home improvement website Porch.com surveyed nearly 1,000 consumers about their first home purchase to find some of the top factors that influenced their buying decisions.Aesthetic appeal, affordability, commute time, and neig
Home buyers and sellers may have false assumptions about the real estate transaction process, believing in myths that could rob them of a purchase opportunity or keep them from selling for more money. Leaders of the Orlando Regional REALTOR® Association culled the top myths consumers fall for.1. The longer a home has been on the market, the more negotiable the deal is.There are many reasons a property may be on the market for a long time that ha
When that dream home arises on the market, it's hard to walk away. But if you haven't completed these three tasks, you aren't ready to be a homeowner. Buying a house is one of life's most exciting milestones. You get to decorate, make the home your own, and set down roots -- all while building equity and, ideally, increasing your net worth. But buying a house is also a really big financial decision, and if you don't hit some money miles
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