A big culprit to the ongoing housing shortage: The dwindling number of new-home construction over the last several years. A new study from John Burns Real Estate Consulting is putting it into perspective at just how much new-home construction has been lagging: The top 10 housing markets in the country are building at a rate that is 54% lower than they were 14 years ago.Markets like Chicago, Riverside-San Bernardino, Calif., and Las Vegas have bee
Retiring baby boomers are finding that downsizing is not always the answer. Empty nesters transitioning from their longtime houses are finding they still need plenty of space, The Washington Post reports.“Older home buyers today are ‘smart-sizing’ rather than just downsizing,” Mollie Carmichael, a principal with the housing research firm Meyers Research, told The Washington Post. “Affordability is a big priority before an
“Hipsturbia” is one of 10 emerging trends in real estate to watch, according to a newly released report by the Urban Land Institute and PwC. The term refers to the trend of suburbs that are creating their own versions of downtowns featuring vibrant “live/work/play” districts. More suburbs are taking a chance on these mixed-use, walkable developments, researchers note in the “Emerging Trends in Real Estate” report.“Many of these ‘c
Existing-home sales rose in August, marking two consecutive months of gains, even as a limited number of homes for sale remains a pressing issue on the market, the National Association of REALTORS® reported Thursday. Three of the four major regions of the U.S. saw an uptick last month, the West being the only region not to see an increase in sales.“As expected, buyers are finding it hard to resist the current [mortgage] rates,” says Lawrence
The Federal Reserve lowered its benchmark interest rate by another quarter of a percentage point on Wednesday to a range of 1.75% to 2%, citing concerns over a global economic slowdown. Mortgage rates aren’t directly tied to the Fed’s interest rate, but they do tend to be influenced by them.Following its meeting, the Fed signaled that another rate cut is likely before the end of the year. It cited “uncertainties” about the economic o
Fewer homes were flipped by investors in the second quarter compared with the same quarter one year ago as profits grew smaller, according to ATTOM Data Solutions’ 2019 U.S. Home Flipping Report. Homes flipped in the second quarter were down 5.2% from a year ago. Overall, home flips in the second quarter comprised 5.9% of all home sales during the quarter.Investors are seeing fewer profits from their flips. Homes flipped in the second
Housing starts posted “healthy gains” in recent weeks as homebuilders feel more confident about the new-home market, the National Association of Home Builders reports.Led by an increase in multifamily production, total housing starts surged 12.3% in August, reaching a seasonally adjusted annual rate of 1.36 million units, the Commerce Department reported Wednesday. This marks the highest level since May 2007.Single-family starts rose 4.4
Buyers are doing everything from tapping into their retirement savings accounts to taking financial gifts from family and friends in order to bring more money to the closing table. Bankrate.com recently surveyed more than 2,500 adults about their home purchase to find the top ways they’re saving.About 47% of first-time home buyers said they saved on their own to purchase a house. But others also sought help elsewhere, such as through a fir
Fort Wayne, Ind., and Pueblo, Colo., were the top-performing housing markets in August—another sign that small towns are turning on the charm in drawing more buyers away from the big cities. The two cities topped realtor.com®’s newly released list of hottest housing markets.“Smaller markets with smaller price tags continue to heat up feverishly,” says Javier Vivas, realtor.com®’s director of economic research. “Buyers have more succ
About Sheri There are many qualities and skills that go into being an excellent real estate professional - integrity, in-depth community and market knowledge, marketing savvy, effective negotiation skills and a high-quality professional network, all of which are hallmarks of how I work.That said, in my experience as a Collin County real estate professional, I've also found that providing the very best service is essentially about putting my cl
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