Following two consecutive months of increases, existing-home sales dialed back at the end of 2018 and economists pointed to higher mortgage rates for most of last year as one of the main culprits. However, they’re optimistic a turnaround will be in sight for home sales in the spring season, particularly given that mortgage rates have started to decrease in recent weeks.Total existing-home sales—which are completed transactions that include si
A surge in retirees is coming, but where will they decide to live? Nearly 1.2 million people 55 or older relocated out of state last year, which was a record high.“Baby boomers are so hard to pin down,” Rodney Harrell, director with the AARP Public Policy Institute, told realtor.com®. “There are so many of them, and they’re choosing a wider range of options than previous generations. … There’s no one size fits all.”Researchers at r
Microsoft has announced it is committing $500 million to advance affordable housing solutions in the booming Seattle area, where its headquarters are located.Microsoft first made the Seattle area’s Puget Sound region its home in 1979. Since then, as Microsoft became one of the world's leading software companies, the city has seen explosive growth. But the housing market has failed to keep up.Since 2011, jobs in the region have increas
Two cats in Silicon Valley are the pampered renters and sole occupiers of a $1,500 per month studio.The landlord says the cats haven’t made much fuss, keep to themselves, lounge around in a cat tree most of the day, and always pay their rent on time—the prrrrfect tenants, you might say.“It’s quirky isn’t it?” landlord David Callisch told CBS San Francisco (KPIX). “People love their pets, they’re part of their family.”The father
The real estate industry will soon see what kind of impact weeks of declining mortgage rates have had on home sales. Will it provide the boost some experts are predicting?Since early November, the 30-year fixed-rate mortgage has fallen nearly half a percentage point, from 4.94 percent to 4.45 percent, where it stood at the end of this week. This could provide an important incentive for potential home buyers to make a move. The 30-year rate, which
High student loan debt is one main culprit for the lower rate of homeownership over the past decade, a new study from the Federal Reserve shows.Homeownership of all Americans has fallen 4 percentage points from its peak of 69 percent in 2005. It has dropped the most—from 45 percent to 36 percent—among those 24 to 32 years old.“In surveys, young adults commonly report that their student loan debts are preventing them from buying a home,” F
Builders across the country are betting on luxury townhomes to try to get more young adults into homeownership. Open floor plans, high ceilings, and upgraded amenities are features they hope will lure millennials to buy their first home.“When a lot of people think of townhouses, they think of these very narrow homes because the floors are stacked on top of one another,” Felix Bravo, a sales executive with Pordes Residential in Miami, told For
Police have one of two suspects in custody that they believe were involved in an armed robbery of a real estate office in Kirksville, Mo. Two masked men reportedly robbed Wayman Realty last Thursday afternoon at about 4:15 p.m., holding a gun to owner Frank Wayman’s head and a large knife to his throat.The two armed men forced Wayman to open a safe at the business and fled with more than $3,000 in cash as well as gold coins that were kept
The National Association of REALTORS® has asked the Trump administration to jump-start the Rural Housing Loan Program, which has been unable to process mortgage applications since the partial federal government shutdown began nearly a month ago.After learning that the U.S. Department of Agriculture, which operates the loan program through the Rural Housing Service, had decided to temporarily recall employees of the Farm Service Agency to provide
Investors who were planning to move quickly in the new year to take advantage of opportunity-zone tax incentives are putting on the brakes. They’re waiting for the U.S. Treasury Department to finalize guidance on precisely how the tax benefit will work before they proceed, and a timeline for that to happen has been thrown into doubt during the partial government shutdown, The Wall Street Journal reports.Opportunity-zone provision
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