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
Higher home prices and a tight supply of homes for sale may be the mantra nationwide. But certain markets are still offering lucrative options for investors.Real estate sales and auction company TenX released its top picks for investors and Texas had the most markets on its list, scoring three out of the top five. Texas continues to post strong growth in employment and home construction. San Antonio topped TenX’s list for best places for inves
For the second consecutive year, Watauga, Texas, is the hottest ZIP code in the U.S., according to realtor.com®’s 2017 Hottest ZIP Codes list. Livonia, Mich., and Kentwood, Mich., landed second and third, respectively, on the annual list.Realtor.com® analyzed 32,000 ZIP codes based on factors like the time it takes properties to sell and how frequently homes are viewed in each ZIP code. The markets on this year’s top 10 list are seeing home
A slight decrease in mortgage rates brought refinancers and home shoppers back to lenders last week.Total mortgage application volume for refinancings and home purchases rose 3.6 percent week-over-week on a seasonally adjusted basis, the Mortgage Bankers Association reported Wednesday. However, the volume still is nearly 19 percent below the same week a year ago. Interest rates were lower a year ago.Home purchase applications increased 4 percent
Quicken Loans is commanding the largest share of the mortgage market, according to 2016 data recently released by the Federal Financial Institutions Examination Council. But Wells Fargo boasts the highest origination dollar volume at $126 billion in 2016, compared to Quicken Loans’ $90.6 billion.iEmergent, which compiled the data, calculated the top mortgage lenders by looking at the number of purchase and refinance loans originated. The follow
Roommates are changing the numbersKey Takeaways If you live in one of the uber-expensive coastal cities of California and Washington state, then continuing to rent is often the only option. In Detroit, a median priced starter home costs $16,463 — the lowest median home sales price in the nation. Buying is typically cheaper, but that changes when roommates are thrown into the mix.In today’s market, renters and buyers often find themselves in t
Housing subsidies are going to wealthy homeowners at nearly twice the rate of low income rentersThe United States government spends nearly twice the amount on housing subsidies that favor the rich over the section 8 housing program for low income Americans, a new report finds—$71 billion compared to $29.9 billion in 2015, the report from the website Apartment List found.Credit: Apartment ListAs the country heads towards a likely partisan deba
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