Home buyers had another chance to snag lower rates this week. The 30-year fixed-rate mortgage averaged 2.98%, Freddie Mac reports.“Economic growth remains steady and is bolstering more segments of the economy,” says Sam Khater, Freddie Mac’s chief economist. “Although low and stable mortgage rates have kept the housing market booming over recent months, a deterioration in affordability and for-sale inventory has led to a market slowdown.
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Hello, y'all,It has been very competitive for buyers with a stronghold on being a seller's market this year. And as always, we're here to help to capitalize on that. It's now the busy time of year in real estate and we have to take advantage of it. Reach out and we'll be sure we're doing everything we can to get the best results.Since the last company update, we've added 20 members including a Broker-Partner Kyron Johnson that will be recruiting
Porch and patios are not the same. But they’re both in demand, so it’s worth knowing the differences so you can present them accurately to your home buyers.Homeowners and buyers want more outdoor space since the pandemic started, and a porch or patio can offer that.A patio is usually found in the backyard. It’s often made from poured concrete or stone pavers.On the other hand, porches are usually attached to the front of a house and covered
Homes with solar panels tend to list 56% above the average home price, according to a new analysis from Porch.com, a home improvement resource. Solar paneled homes tend to cost an average of $680,000—about 48% more than the average home in a given area, the study shows.Solar homes tend to be more attractive in certain markets. For example, solar-powered homes tend to come at the highest premium in Pensacola, Fla., in which they tend to be three
Pending home sales bounced back strongly in May and surged to the highest reading for the month of May since 2005, the National Association of REALTORS® reported Wednesday.NAR’s Pending Home Sales Index, a forward-looking indicator of home sales based on contract signings, climbed 8% in May compared to April. Contract signings are up 13.1% compared to a year earlier.“May’s strong increase in transactions—following April’s decline, as w
Home buyers are placing their attention on small and mid-sized cities in search of cheaper homes. Realtor.com® recently released its list of the hottest housing markets in May, which have seen the quickest sales and fetched the most views on online listings. The median list price among the top 20 hottest markets is $311,000, which is about 18% below the national median of $380,000, according to realtor.com®.The markets garnering the most buyer
Buildings older than 40 are being scrutinized throughout the country as investigators in Surfside, Fla., continue searching for clues that can explain why a 12-story condo building collapsed in the middle of the night last week. As of Tuesday morning, 11 people were dead and 150 were missing in a tragedy that has shaken property owners nationwide.The collapse of Champlain Towers South also has sparked a debate over whether Miami’s 40-year
Rising prices in new-home construction have mostly shut out buyers in the lower end of the market, shows a new analysis from the National Association of Home Builders. Buyers in the bottom one-fourth of the market have had to look exclusively at the stock of existing homes. However, fast-rising prices in the existing-home market may soon price out buyers as well.The median price of a newly built single-family home that was started in 2020 was $33
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