Americans value homeownership. It has long been seen as part of achieving the American dream and, when asked, large majorities of those who don't currently own a home say they'd like to one day. In short, buying a home is popular. But when thinking about whether or not now is the right time to do it, perceptions of the market can sway your decision. After all, nobody wants to buy at the wrong time. So what do Americans think about the housing market these days? Well, according to Fannie Mae's most recent Home … [Read more...]

After the housing crash, home prices and mortgage rates were low and the market was ripe for buyers. Americans who were in position to buy could be confident that they'd find a good deal. These days, things have changed. The market has largely rebounded and hopeful home shoppers have more concerns about affordability than they did even just a few years ago. Fortunately though, according to one recent report, most housing markets are still within reach. In fact, buyers earning the median income – which is typically … [Read more...]

Naturally, home prices are important to home buyers. When they're high, you get less house for your money. And, if you're a buyer, you're most likely trying to get as good a deal as you can. That's why the most recent S&P/Case-Shiller Home Price Indices should be encouraging news. The Index – which is the leading measure of U.S. home prices – found that, on a month-over-month basis, prices are flat and, on an annual basis, the rate of increases has continued to slow. David M. Blitzer, managing director and … [Read more...]

According to the Mortgage Bankers Association's Weekly Applications Survey, average mortgage rates fell last week. They were down for 30-year fixed-rate loans with both conforming and jumbo balances, as well as mortgages backed by the Federal Housing Administration and 15-year fixed-rate loans. Joel Kan, MBA's associate vice president of economic and industry forecasting, said the decline was due to global economic conditions rather than conditions in the US. “Mortgage rates were lower last week, as concerns over … [Read more...]

New numbers from the National Association of Realtors show signed contracts to buy homes increased 3.8 percent in March. The improvement follows a decline the month before and could be a sign that the market is turning a corner. Lawrence Yun, NAR's chief economist, says results have been fluid over the past few months but he expects sales activity will begin to climb. “We are seeing a positive sentiment from consumers about home buying, as mortgage applications have been steadily increasing and mortgage rates are … [Read more...]

When you have something to sell, half the battle is getting it in front of the people who'll want to buy it. No matter what you're selling – or how great it is – if no one knows it's for sale, you're not going to have much success. This, of course, is also true when you're trying to sell a house. Even in a seller's market, you're going to get the best results if your home is accessible to as many home shoppers as possible. Proof of this is found in a recent analysis that looked at homes listed last year to … [Read more...]

Choosing a house to buy takes a little bit of vision. After all, it's easy to know what you want in a home today, but more difficult to know for sure what you'll want years from now. Things change and your life will undoubtedly take some unexpected twists and turns. But just how long should you expect to live in the house you buy? Well, according to ATTOM Data Solutions' Q1 2019 U.S. Home Sales Report, homeowners who sold in the first quarter of this year had lived in their home an average of 8.05 years. For … [Read more...]

According to the Mortgage Bankers Association's Weekly Applications Survey, average mortgage rates increased last week across all loan categories, including 30-year fixed-rate loans with both conforming and jumbo balances, loans backed by the Federal Housing Administration, and 15-year fixed-rate loans. The increase continues an upward trend that has caused some hesitation among borrowers, especially those looking to refinance. Michael Fratantoni, MBA's senior vice president and chief economist, says rates have … [Read more...]

New home sales increased 4.5 percent in March, beating economists' expectations and hitting a 16-month high. The data, from the U.S. Census Bureau and the Department of Housing and Urban Development, is more evidence that home buying conditions are becoming more favorable just as buyer demand heats up for the season. The combination of a strong job market and low mortgage rates is encouraging buyers and helping steady a housing market that went through its ups-and-downs last year. And, since new-home sales gains … [Read more...]

The spring home sales season is underway and there's no better proof than new numbers from the National Association of Realtors. According to their most recent existing home sales report, 47 percent of homes sold in March were on the market for less than a month. Additionally, the average number of days properties remained on the market was 36 days, down from 44 days the month before. That's a significant drop and evidence that buyer demand is heating up and homes are selling more quickly. But, despite the fact … [Read more...]