Nostalgia can be powerful. It can make you wistful for people, places, and days gone by. According to one new survey, it can even make you wish you could buy your childhood home and move back to the old neighborhood. The survey, which asked participants if they’d buy the home they grew up in, found a lot of us would. In fact, 44 percent of respondents said they’d buy their childhood home if cost weren’t an issue. Among younger Americans, the numbers were even higher. Nearly two-thirds of survey participants born in … [Read more...]

A home is considered equity rich when the loan balances secured by the property are no more than half the home’s estimated value. In other words, if your home is worth twice what you owe on it, you’re equity rich. That’s a good situation for a homeowner to be in and, according to ATTOM Data Solutions, a lot of homeowners are currently reaping the benefits. “Homeowner balance sheets continue to benefit in a huge way from the boom times in the form of elevated equity that can be used to help finance all kinds of … [Read more...]

According to the Mortgage Bankers Association’s Weekly Applications Survey, average mortgage rates fell last week from one week earlier. Rates were down across most 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. Mike Fratantoni, MBA’s senior vice president and chief economist, says the declines were due to a slower job market. “Treasury rates and mortgage rates fell last week on the news … [Read more...]

Housing market sentiment has plateaued, according to a new survey from Fannie Mae. Its monthly Home Purchase Sentiment Index asks participants for their feelings about buying/selling a home, mortgage rates, prices, their job, and financial situation. The latest results show consumer sentiment was largely unchanged from one month earlier, as Americans wait to see whether market conditions improve. Doug Duncan, Fannie Mae’s senior vice president and chief economist, says consumers are adjusting. “We think consumers’ … [Read more...]

Choosing a home to buy is a big decision. It’s also one that you may not have a lot of time to make. Inventory is still low in most markets across the country and that means homes for sale sell quickly – especially good ones. These days, interested buyers have to act fast if they see something they like. But how fast? Well, how long a home spends on the market depends a lot on where it’s located. In some parts of the country, homes are selling faster than others. A recent analysis looked at the top 100 most … [Read more...]

As a home buyer, you want more homes on the market. Not only will it increase the likelihood that you’ll find one that fits your needs and lifestyle, it’ll also help keep prices in check. Simply put, if the inventory of homes for sale is rising where you’re looking to buy, you’re going to have an easier time. The good news, according to new numbers from the National Association of Realtors’ consumer website, is active inventory is rising. In fact, it was up almost everywhere in April. Active inventory spiked in all … [Read more...]

Spring is home selling season and the month of May is right in the middle of it. That makes it a great time to list a house for sale. In fact, according to a new analysis from ATTOM Data Solutions, it’s the best month of the year to sell a home. Why? Well, ATTOM looked at 59 million home sales over the past 13 years to determine how much above their estimated market value homes sold for in each month of the year. What it found was that home sellers who listed in May saw the biggest premiums at 13.1 percent above … [Read more...]

According to the Mortgage Bankers Association’s Weekly Applications Survey, average mortgage rates moved higher last week for 30-year fixed-rate loans with conforming loan balances and those backed by the Federal Housing Administration. Jumbo loans, 15-year fixed-rate loans, and 5/1 ARMs all saw decreases from one week earlier. Mike Fratantoni, MBA’s senior vice president and chief economist, says inflation is keeping rates elevated. “Inflation remains stubbornly high, and this trend is convincing markets that … [Read more...]

Homeownership has long been seen as an important part of achieving the “American Dream.” Put simply, most of us hope to be homeowners one day, if we aren’t already. In fact, according to one newly released survey, 67 percent of participants said owning a home is one of their biggest aspirations in life – with 73 percent of both Millennial and Gen Z respondents naming it among their top goals. That’s a significant majority and further proof that the dream of homeownership endures, even during challenging market … [Read more...]

Home sellers continued to enjoy healthy profits during the first quarter of 2024, according to new numbers from ATTOM Data Solutions. ATTOM’s first-quarter 2024 U.S. Home Sales Report found the typical home sale during the first three months of this year had a gross profit of $120,500. That’s a bigger profit than has been seen during most of the past 10 years but also the lowest it’s been since mid-2021. Rob Barber, ATTOM’s CEO, says profits have been trending smaller. “The latest price and profit numbers show … [Read more...]