In this week’s economic review, mortgage rates softened, existing home inventory improved and new home sales climbed, mostly due to softened pricing.
Think of all the tasks you no longer need to hire out. You don’t need a travel agent to book a vacation. You don’t need to hire a web developer to design a website. So in a DIY age with the world of real estate readily available at your keyboard, do you really need a real estate agent? Yes. Here’s why.
In this week’s economic review, mortgage rates increased, consumer spending jumped in February, and booming job growth boosted the likelihood of Fed rate hike in March.
Millennials made waves in the 2016 housing market as the largest generational percentage of homebuyers. They were more likely to skip over traditional starter homes and more likely to consider purchasing a new build. See what home features this young generation of homebuyers would choose when given an array of options.
In this week’s economic review, mortgage rates declined while the pending home sales index offset the outlook for future existing home sales. Reports released this week also highlighted consumer confidence, as well as confidence in the job market.
The jolt of the recession affected the housing market in many ways, but a 2016 study says that one of those effects may become a longer-term housing market trend. In the economic downturn, adults lost their homes and adult children “boomeranged” home after college, and for some, living with multiple generations under one roof became commonplace. But as the economy has rebounded, multigenerational homes have become even more popular, stimulating a brand new market that is much more than a guest bedroom for in-laws over the holidays.
In this week’s economic review, new and existing home sales saw opposite results heading into 2017 while home prices in both indexes saw losses. The Fed released minutes from their most recent meeting, which suggested the likelihood of another interest rate hike.
Low existing home inventory isn’t new housing market issue. Low mortgage rates and rising home values have made many real estate markets extremely competitive with homes selling above listing price within a matter of days. According to the most recent existing home sales report, inventory is at its lowest in nearly two decades. Here’s how you can prepare for buying a home when inventory is tight.
In this week’s economic review, January’s consumer prices hit a stride, retail sales increased and home builder confidence slipped. Mortgage rates eased slightly.
This week’s biggest economic news stories centered on dropping mortgage rates, housing market confidence and the consumer price index.