The National Association of Realtors most recent existing-home sales report shows sales were essentially flat in April, falling 0.4 percent from the month before. But though flat sales to begin the spring selling season may seem like trouble, a closer look at the data shows conditions are gradually improving for home buyers and may lead to more activity. Lawrence Yun, NAR's chief economist, says he believes the improvements will soon help spur more sales. “First, we are seeing historically low mortgage rates … [Read more...]

If you're a homeowner getting ready to sell, you're likely thinking about how to get the best price for your house. Naturally, getting a good offer is going to be top priority. The other big issue is timing. Homeowners who are using the sale of their home to fund the down payment on their next place have to time it right. But could the timing of your move affect the price your home gets? Well, according to new research that compared the sale price of occupied versus vacant homes, it might. In fact, the research … [Read more...]

It's hard not to be influenced by your family and friends. After all, their opinions hold more weight because you trust them. When someone you love recommends something, you're probably more likely to consider it than had you heard it from another source. It doesn't matter if it's a restaurant, a new movie, or a vacation destination, if a friend tells you it's good, you'll likely believe them. This is also true when deciding to buy a house. At a panel convened by the National Association of Realtors, Dr. Johannes … [Read more...]

The number of new homes being built can be a good gauge of the housing market's health. After all, home builders wouldn't be building homes unless they felt confident that those homes would sell. And buyers wouldn't be interested in buying a new home unless the housing market and economy were doing well. For this reason, the National Association of Home Builders' Housing Market Index is an important indicator. Released monthly, the survey measures builders' confidence in the new home market on a scale where any … [Read more...]

According to the Mortgage Bankers Association's Weekly Applications Survey, average mortgage rates fell again last week. In fact, rates were down for 30-year fixed-rate loans with both conforming and jumbo balances, loans backed by the Federal Housing Administration, and 15-year fixed-rate mortgages. It was the third consecutive decline. It also comes at a good time for home buyers. Joel Kan, MBA's associate vice president of economic and industry forecasting, says demand for loans to buy homes is now nearly 7 … [Read more...]

There's a reason they're called wish lists. After all, home buyers can't expect to get every single thing they want in a house unless they have one custom built. Which is to say, you're, undoubtedly, going have to make some sacrifices and some of your wishes are going to go unfulfilled. For that reason, a recent survey took a look at what new homeowners say are the things they most wish their home had. According to the results, a walk-in pantry was the most common response. Around a third of respondents said it was … [Read more...]

Recently, there has been a growing number of young Americans interested in buying homes. But though there's been increasing demand, the number of affordable homes available to these buyers has lagged behind in many markets. In short, there are more potential first-time buyers than entry-level homes available for sale. This is a problem for the housing market, since it means many buyers get priced out or simply can't find a home to buy. Fortunately, inventory is beginning to rebound. And, according to one recent … [Read more...]

Calculating your readiness to buy a house involves a lot of different factors. Among them, though, financial considerations and affordability are usually near the top of the list. Things like home prices, your income, job security, and mortgage rates will be a big determiner of whether or not you feel like now's the time to buy. Fortunately, prospective home buyers currently calculating their readiness will find that, in most cases, conditions are improving. For example, Freddie Mac's most recent Primary Mortgage … [Read more...]

Anyone who's been paying attention to the housing market over the past couple of years knows home prices have been increasing. That's good news for homeowners who are thinking of selling their house and moving somewhere new. But just how good? Well, according to ATTOM Data Solution's Q1 2019 Home Sales Report, homeowners who sold during the first quarter of the year saw an average price gain of $57,500 over what they originally paid for their home. That's an average 31.5 percent return on their original purchase … [Read more...]

According to the Mortgage Bankers Association's Weekly Applications Survey, average mortgage rates were mostly flat last week. Rates for 30-year fixed-rate loans with conforming and jumbo balances were down slightly, while 15-year fixed-rate mortgages saw no movement. Loans backed by the Federal Housing Administration increased from the week before. Joel Kan, MBA's associate vice president of economic and industry forecasting, said demand for loans to buy homes was also up. “We saw a good week for the spring home … [Read more...]