The share of first–time buyers declined for the third consecutive year and remained at its lowest point in nearly three decades as the overall strengthening pace of home sales over the past year was driven more by repeat buyers with dual incomes, according to an annual survey released today by the National Association of Realtors. The survey additionally found that nearly 90 … [Read more...] about First-time buyers fall again
real estate market news
Condos are back
Condos are appreciating faster than single-family homes in markets across the U.S., especially where job markets are thriving or urban renewal is underway, according to the third quarter Zillow September Real Estate Market Report. Condos in the U.S. are appreciating at a rate of 5.1 percent, compared to the 3.7 percent appreciation among single-family homes. Condo values … [Read more...] about Condos are back
Existing-home sales regain momentum in September
Existing–home sales rebounded strongly in September following August's decline and have now increased year–over–year for 12 consecutive months, according to the National Association of Realtors. All four major regions experienced sales gains in September. Total existing–home sales, which are completed transactions that include single–family homes, townhomes, condominiums and … [Read more...] about Existing-home sales regain momentum in September
Pending home sales retreat again in August but remain at healthy level
Pending home sales retreated in August but remained at a healthy level of activity and have now risen year–over–year for 12 consecutive months, according to the National Association of Realtors. A modest increase in the West was offset by declines in all other regions. The Pending Home Sales Index, a forward–looking indicator based on contract signings, decreased 1.4 percent … [Read more...] about Pending home sales retreat again in August but remain at healthy level
Renting less affordable than ever before
Paying for a mortgage is still affordable, while rent takes up more income than ever in most major metro areas, according to a Zillow analysis of U.S. rental and mortgage affordability in the second quarter of 2015. Rental affordability worsened over the last year, while mortgage affordability stayed essentially the same. Renters in the U.S. can expect to put 30.2 percent of … [Read more...] about Renting less affordable than ever before