You can tell a lot about where Americans want to live by paying attention to where home builders are building the most homes. Builders respond to buyer demand – so if residential construction is rising in any particular area, the number of interested buyers is also likely increasing. That's why the National Association of Home Builders' Home Building Geography Index tracks building conditions and permits in various markets across the country. The data can be a good gauge of where Americans – and current housing … [Read more...]

A million dollar city – as defined by a recent analysis of home values – is any area where the typical home is worth $1 million or more. Last year, the number of million dollar cities hit a record high, reaching 522 in July when the housing market peaked. In subsequent months, though, the market has slowed and the number of million dollar cities has fallen. In fact, the most recent numbers show there are 58 fewer million dollar cities than there were last summer. Currently, there are 464 million dollar cities, with … [Read more...]

Choosing the right neighborhood is important. Your neighborhood will be a big determiner of how happy you are in the home you buy. That's especially true if you have children or are thinking of starting a family. Let's face it: some communities are more family friendly than others. So what are the factors you should consider when choosing a neighborhood? Well, according to one new analysis of the best areas to raise a family, the list includes schools, crime rate, child care options, walkability, cost of living, … [Read more...]

These days, home buyers are feeling a little cautious about the housing market. Its recent fluctuations have made them wonder whether now is the best time to buy a house. After all, where are things headed from here? Well, one recent survey of industry experts and economists tried to answer that question, specifically with regard to home prices. Their answer could help reassure hesitant home buyers. That's because survey respondents expect prices to remain relatively flat this year. They don't foresee a home price … [Read more...]

According to the Mortgage Bankers Association's Weekly Applications Survey, average mortgage rates rose again last week. Rates were up for 30-year fixed-rate loans with both conforming and jumbo balances, loans backed by the Federal Housing Administration, 15-year fixed-rate loans, and 5/1 ARMs. But despite higher rates, demand for mortgage loan applications still improved from one week earlier. In fact, measures of both refinance and purchase loan activity saw significant increases from the week before, with … [Read more...]

Fannie Mae's monthly Home Purchase Sentiment Index is based on a survey of Americans. The survey asks participants whether they think now is a good time to buy or sell a home, where they think prices and mortgage rates are headed, and how they feel about their job security and financial situation. According to the most recent release, Americans are feeling slightly more cautious than they were in previous months. In fact, the index fell for the first time in three months, with respondents expressing concern about … [Read more...]

At some point, we've all fantasized about moving somewhere far from home. Whether it was after a particularly good vacation or a bout of bad weather, it isn't uncommon to think about what it might be like to live in a different place. Truthfully, though, a lot of those fantasies involve moving some place more expensive than where we currently live. So, if you're dreaming of moving away but would like some more affordable options, you may be interested in a recent analysis of the country's most affordable states. … [Read more...]

It's natural to look back on decisions you've made and wonder what might've been had you made different choices. So it's not surprising that an overwhelming majority of recent home sellers say they wish they'd done something differently when they sold their home. It's a major undertaking and a significant financial transaction, after all. But what is the top thing home sellers say they regret? Well, if you guessed it has to do with pricing their home, you're correct. The most common answer in a survey of sellers … [Read more...]

According to the Mortgage Bankers Association's Weekly Application Survey, average mortgage rates moved higher last week across all loan categories. Rates were up for 30-year fixed-rate loans with both conforming and jumbo balances, loans backed by the Federal Housing Administration, 15-year fixed-rate loans, and 5/1 ARMs. It was the third consecutive weekly increase. Joel Kan, MBA's vice president and deputy chief economist, says inflation concerns are behind the upward trend. “Data on inflation, employment, and … [Read more...]

In 2021, home prices set a record. According to the S&P Case-Shiller Home Price Indices, they were nearly 19 percent higher than they were the year before. That was the largest annual home price gain in the 35-history of S&P's index. Last year, though, prices slowed considerably, and with S&P's latest release we know just how much. The index found that, after peaking in June, home prices ended the year up 5.8 percent from the previous year. Craig J. Lazzara, managing director at S&P, says prices … [Read more...]