Buying a home has become less affordable over the past year. Home prices have surged as buyer demand outpaced the inventory of homes for sale. But while homeownership has gotten less affordable, it’s still within the average Americans’ financial means, according to a new report from ATTOM Data Solutions. Their fourth-quarter 2021 U.S. Home Affordability …
These days, housing market conditions are fairly easy to understand. There are fewer homes for sale and, because of that, home prices continue to rise. It’s simple supply and demand. When there are fewer homes for buyers to choose from, the ones that are available go for a higher price. But while that’s been the …
According to the Mortgage Bankers Association’s Weekly Applications Survey, average mortgage rates fell to a four-week low last week. Rates were down for loans backed by the Federal Housing Administration and 30-year fixed-rate mortgages with both conforming and jumbo balances. The decline helped push refinance activity up 2 percent from the week before. But while …
In November, the typical home for sale was on the market just 18 days, according to new numbers from the National Association of Realtors. That’s down from 21 days in November 2020 but unchanged from the month before. Overall, 83 percent of homes sold in less than a month. The numbers are evidence that the …
Home buyers faced a lot of competition this year. Elevated demand and fewer homes available for sale meant interested buyers had to be ready for a bidding war or risk losing a good house to a better-prepared buyer. This was certainly true during the spring and summer markets. In fact, according to one measure, 74.6 …
When thinking about buying a house, most of us look at home prices and mortgage rates. Together, they can provide a rough idea of how much home we can afford. They aren’t, however, the only factors that determine whether or not we’re ready and able to buy. One metric that isn’t as commonly checked but …
Americans are concerned about the economy, according to Fannie Mae’s most recent Home Purchase Sentiment Index. But while concerns about economic conditions have reached a 10-year high, they haven’t diminished perceptions of the housing market. In fact, Fannie Mae’s index – which measures Americans’ feelings about home buying and selling conditions, mortgage rates, home prices, …
Housing Sentiment Steady Despite Economic Concerns Read More »
Work has a big impact on how and where we live. It determines what we can afford and where we need to be on a day-to-day basis. So when the pandemic began and more Americans started working remotely, it also led to some significant changes in home buying patterns. Where buyers previously valued proximity to …
Remote Work Continues To Impact Buying Decisions Read More »
Some of the homeownership’s benefits are constant. Stability and the freedom to customize your living space, for example. Others depend a lot upon the ups and downs of the market. Equity is one of them. And these days, because of the market’s continuing strength, homeowners are reaping the benefits in a big way. In fact, …
