A recent survey from Realtor.com and Censuswide finds 78 percent of potential home buyers expect to be priced out of the market if prices and mortgage interest rates continue to increase. Over 50 percent of that group blames inflation as the number one external factor keeping them from realizing the American dream. Rising interest rates…
Survey Finds 78 Percent of US Home Shoppers Fear Being Priced out of Market
Record Share of Americans Relocating to New Metro Areas
March 29, 2023
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30-year mortgageBusiness & Marketseconomyhome buyersMarketsreal estaterelocationU.S. housing marketUSUS NewsUS Real Estate
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Over a quarter or 25.1 percent of house hunters in the United States were seeking to relocate to a new metropolitan area in February, according to real estate company Redfin. The interest to relocate registered at 22.9 percent in 2022, and approximately 18 percent prior to the pandemic. The latest number is a record high,…
American Homebuyers Gain Leverage as Record Share of Sellers Slash House Prices: Redfin
March 17, 2023
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Business & Marketseconomyhome buyershousing concessionsMarketsreal estateU.S. real estate marketUSUS Real Estate
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Home sellers are giving more concessions and price cuts to prospective buyers amid high mortgage rates and home prices, according to real estate brokerage Redfin. During the three months ending Feb. 28, sellers gave concessions to 45.5 percent of home sales recorded by agents at Redfin, according to a March 15 press release. This is…
Twenty-Five Percent of Homebuyers Looking to Shift to New Metro Areas Due to High Cost of Housing: Report
January 25, 2023
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Business & Marketseconomyhome affordabilityhome buyershome searchershousing marketInvestmentmortgage ratesreal estaterelocationUSUS Real Estate
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Roughly a quarter of Redfin homebuyers looked to move to a different metropolitan area in the fourth quarter of 2022 owing to home affordability issues, with places like Sacramento, Las Vegas, and Phoenix topping the list of destinations. In fourth quarter 2022, 24.6 percent of Refin users wanted to shift to a new metro area,…
Can a Married Couple Qualify for First-Time Home Benefits Twice?
December 31, 2022
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BrightbudgetingEstatefirst homeFuture Planninghome buyersHomeownerinvestingpersonal financereal estateWealth Management
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Purchasing a home is probably the biggest expenditure you’ll ever have. So, of course, trying to save money is a goal many buyers have. That’s why qualifying for first-time home benefits is so important. But what if you’ve taken advantage of this program in the past? Is there a way to take advantage of it…
Co-buying a House: How Platonic Partners Make It Work
Seven years ago, Phil Levin and his girlfriend, Kristen Berman, pondered a common question: Should we move in together? Levin assumed they’d take a predictable path and find a more affordable apartment outside of pricey San Francisco. But Berman, a behavioral scientist, shared her reservations about leaving their friend network—and some facts to back it…
Home Sellers and Buyers Beware!
Dear Monty: We will be selling our home in the spring. Our house was built in the early 1940s. It is a large three-story stone home in a historic district. The inspector did not mention two environmental-type items, asbestos and lead paint, which surprised me, as I suspect we have both. Do I have to…
Death of the American Dream and Home Ownership?
Homes historically have served as the primary store of value and wealth creation for most Americans. Housing represented one asset class that was available to both working and middle-class Americans, facilitated in part through government-sponsored entities (GSEs) such as Fannie Mae and Freddie Mac, formed following the Great Depression, that aggregated lender risk, created market…
Homebuyers Fleeing Big Cities Due to High Inflation and Rates
November 1, 2022
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Business & MarketsCalifornia housing marketeconomyhome buyersinflationMarketsreal estaterelocationrising mortgage ratesSacrementoU.S. home pricesUSUS Real Estate
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Homebuyers are increasingly moving to affordable places within the country as U.S. mortgage rates crossed the 7 percent mark last month and decades-high inflationary pressures cut into real incomes. According to Seattle-based real estate brokerage Redfin, homebuyers are looking to move into Sacramento, Las Vegas, and Tampa, with the biggest outflows seen in San Francisco,…
Can’t Afford a Home in the US? Experts Share Their Top Tips Before Investing Overseas
It’s no secret among Americans that many would-be homebuyers have been priced out of the market due to rising mortgage interest rates and persistent inflated listing prices. Some are now considering more affordable options abroad, but experts are warning potential buyers to do their homework before shelling out their savings for the American Dream overseas….
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