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...]

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...]