The spring housing market is sluggish nationally, but in April’s hottest homebuying destinations, buyers are snatching for-sale homes at a lightning pace. Nabbing the top spot for the second time in the data’s history was Concord, NH, where homes received 3.8 times more views than a typical listing nationwide and remained on the market for
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Despite a decades-old housing shortage exacerbating an affordability crisis in the rental and for-sale markets, housing starts are expected to fall to about 744,000 single-family homes in 2023 as builders slow their pace of development. Builders are currently facing a deficit of about 1.5 million homes, but demand is dwindling in the wake of soaring
For the past several years, first-time buyers and luxury house hunters have forged through opposite ends of a volatile housing market, and a 2023 correction is creating a new set of hurdles for both real estate sectors. Starter homes were the target of an early 2020 housing boom that saw cash-strapped buyers competing for a
First-time buyers looking to save money have traditionally strayed from purchasing new homes, but according to Realtor.com, they may actually be more affordable long term than existing properties. While new homes are 10% to 15% more expensive upfront than resale homes, builders can help new buyers with financing options, and buying new also means bypassing
Student loan payments have been paused since the start of the COVID-19 pandemic in March 2020, and according to Realtor.com, that break from monthly repayments allowed Americans between 18 and 35 years of age to participate in the recent homebuying boom. While the share of homeowners aged 18 to 35 averaged 17.8% in 2020, homeownership
A recent survey by U.S. News & World Report reveals that 43% of homebuyers who took out an adjustable-rate mortgage (ARM) in 2022 regretted their decision, Realtor.com reports. ARMs offer buyers a fixed mortgage interest rate that is typically lower than a 30-year fixed-rate loan, for a period of several years. The rate then resets
As would-be sellers hold off on listing their properties during a market correction, one-third of all housing inventory currently on the market is new construction, but misconceptions surrounding new-home purchases are preventing many buyers from taking advantage of that booming supply. Though new homes cost more upfront and take an average of 6.5 months to
After reaching unsustainable highs in the first months of 2022, home prices began falling in a few overheated markets at the end of the year, and with an accelerated correction on the horizon, these destinations could see even bigger changes ahead. Omaha, NE saw the biggest year-over-year price gain of any metro area tracked by
Homebuyers are struggling to afford home purchases as high mortgage rates and elevated home prices continue to chip away at housing affordability across the U.S., and in order to appeal to a waning consumer base, sellers are offering more discounts than ever before. The top five metros seeing the most substantial home price cuts were
Over the past several months, the housing market has been rattled by elevated mortgage rates, persistent inflation, and mounting recession fears, and a wave of tech layoffs could create a new real estate roadblock. Some of the nation’s largest tech companies like Meta, Amazon, and Twitter are in the process of laying off tens of…