Posts Tagged ‘#homebuyers #newhome’
Buying a Home is 36% Less Expensive Than Renting Nationwide!
In the latest Rent vs. Buy Report from Trulia, they explained that homeownership remains cheaper than renting with a traditional 30-year fixed rate mortgage in the 100 largest metro areas in the United States.
Building Wealth: First Rung on the Ladder is Housing
How Housing Matters is a joint project of the Urban Land Institute and the MacArthur Foundation. It is “an online resource for the most rigorous research and practical information on how a quality, stable, affordable home in a vibrant community contributes to individual and community success”.
The Top Reasons Why Americans Buy Homes
Last week, the inaugural “Homebuyer Insights Report” was released by the Bank of America. The report revealed the reasons why consumers purchase homes and what their feelings are regarding homeownership.
Vacation Home Sales Reach 2nd Highest Mark Since 2006 [INFOGRAPHIC]
Some Highlights:
58% of vacation homes purchased were single family homes.
51% of vacation homes that were purchased were found online.
The median price of a vacation home is up 28% from 2014.
91.5% of Homes in the US have Positive Equity
Further Proof This Isn’t a Housing Bubble
Two weeks ago, we posted a blog which explained that current increases in home prices were the result of the well-known concept of supply & demand and should not lead to conversations of a new housing bubble. Today, we want to look at home prices as compared to current incomes.
3 Charts That Scream ‘List Your Home Today’
In school we all learned the Theory of Supply and Demand. When the demand for an item is greater than the supply of that item, the price will surely rise.
Home Sales Up Year-Over-Year
Some Highlights
- This is the 48th consecutive month with year-over-year price gains.
- Lawrence Yun, NAR’s Chief Economist says that, “The main issue continues to be a supply & affordability problem. Finding the right property at an affordable price is burdening many potential buyers.”
- Inventory is still below historic normals at a 4.4 month supply.
Lack of Inventory Challenging Many Housing Markets
Going into the 2016 spring market, the biggest challenge the real estate industry has is the lack of available housing inventory for sale. Here are a few experts and their thoughts on the subject:
Housing Market To “Spring Forward” This Year
Just like our clocks this weekend in the majority of the country, the housing market will soon “spring forward!” Similar to tension in a spring, the lack of inventory available for sale in the market right now is what is holding back the market.
CoreLogic’s