Existing-home sales in 2020 surged to the highest level in 14 years, landing 22% higher than a year ago, the National Association of REALTORS® reported Friday. Existing-home sales—completed transactions that include single-family homes, townhomes, condos, and co-ops—posted big gains year over year and rose by 0.7% in December 2020 compared to November 2020’s already unseasonably high rates.“This momentum is likely to carry into the new y
For nearly a year, mortgage rates have remained near historic lows. The 30-year fixed-rate mortgage fell this week to average 2.77%, Freddie Mac reported. Its lowest average on record was 2.65%, recorded earlier this January.“We’re now seeing rates fluctuate a bit as political and economic factors drive Treasury yields higher,” says Sam Khater, Freddie Mac’s chief economist. “However, we forecast rates to remain relatively low this year
Plants can help brighten indoor spaces and may offer other mental and physical health benefits. As such, it’s no surprise indoor plants are one of the favorite accessories of home stagers.Research has linked indoor plants with reduced stress, increased productivity, and improved quality for the home’s air. Some of the most effective house plants to improve the air quality are areca palms, Boston ferns, rubber trees, spider plants, and ficus t
For the fifth time, the Federal Housing Finance Agency is extending single-family foreclosures and real estate–owned eviction moratoriums on properties backed by Fannie Mae and Freddie Mac, the agency announced Tuesday. The extension runs until Feb. 28. The moratoriums are in place due to the financial impact brought on by the COVID-19 pandemic.The program was originally scheduled to expire in June 2020. The most recent deadline for the program
Joe Biden was sworn in as the 46th U.S. president on Wednesday, taking the reins in the nation’s response to the COVID-19 pandemic and the ensuing economic shakeout, a deeply divided country, and a host of other challenges. But he’s already signaled that several real estate issues are on his administration's to-do list.The National Association of REALTORS® applauded Biden's inaugural speech that focused on unifying America and rest
After a slowdown in rental growth during the spring and summer of 2020, rents are back on the rise. A new report from CoreLogic shows that national single-family rental prices increased 3.7% year over year in November and are now above the levels before the COVID-19 pandemic started.“This is in contrast to rents for multifamily properties, which have decreased as tenant preferences shifted away from high-density apartment buildings to low-densi
The exurbs have reportedly been adding more residents during the COVID-19 pandemic. So where exactly did these Americans go?Exurbs refer to communities beyond traditional suburban areas that are closer to large metros. Exurbs tend to have a low housing density and offer a more rural style of living.CapRelo, a global mobility firm specializing in U.S. relocation, identified which exurbs are seeing the largest upticks in population. Researchers cul
On this MLK day, we should all take a moment to reflect and realize that only through community, persistence, and understanding, we'll keep this type of change closer to reality.
Homebuyer demand in ski towns is surging. Searches of homes in ski towns jumped 36% annually in the fourth quarter of 2020, according to a new report from realtor.com®. A bulk of that demand is coming from households already in cold weather climates, such as Northern states. Many are favoring nearby ski towns as they look for an escape closer to home.Seven of the top 10 ski towns seeing the largest percentage spikes in online views are located i
The 30-year fixed-rate mortgage jumped to an average of 2.79% this week, increasing after last week’s record low of 2.65%, Freddie Mac reports in its weekly mortgage survey. Upticks over the last couple of weeks in 10-year Treasury notes—a key benchmark for mortgage rates—will prompt mortgage rates to rise, economists note.“As Treasury yields have risen, it is putting pressure on mortgage rates to move up,” says Sam Khater, Freddie Mac
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