Twenty-six percent of millennial college students say they plan to move back home as soon as they earn their degree in order to pay off some of their student loans, according to TD Ameritrade's Young Money Survey of about 2,000 young adults.Thirty-two percent of millennials between the ages of 20 and 26 say they owe between $10,000 and $50,000 in student loans. The average student loan balance was $10,205.That is prompting more graduates to move
The median amount of time homeowners live in their home rose to about eight and a half years in 2016, the longest tenure since Moody's Analytics and First American Financial Corporation began tracking such data in 2000. Mortgage rates may be the reason owners refuse to move, which is keeping inventory stubbornly low. And economists predict homeowners will continue to lengthen their stay in a home through the next decade, The New York Times report
Home sales reached their highest pace in a decade in the first quarter of 2017 as property prices continue to escalate, according to the National Association of REALTORS®' latest quarterly report.The median price of an existing single-family home nationally was $232,100 in the first quarter, up 6.9 percent from the same time period a year ago. Home prices rose year over year in 85 percent of the 178 metro areas analyzed.The continued inventory s
Buyers continue to flood the market as some areas experience 'unhealthy appreciation'Key Takeaways In Q1, the national median single-family home price was $232,100, a 6.9 percent quarter-over-quarter and 5.9 percent year-over-year increase.The National Association of Realtors (NAR) released its latest Metropolitan Median Area Prices and Affordability report, which boasted the best quarterly sales pace in nearly a decade.The median existing singl
Get ready to see more first-time home buyer clients. In the first quarter of 2017, the number of new-owner households was double the number of new-renter households.About 854,000 new-owner households were formed during the first three months of this year, more than double the 365,000 new-renter households in that period, according to U.S. Census Bureau data. What’s more, it’s the first time in a decade that new buyers outpaced new renters.Fir
The nation has 1.9 million new graduates, and many may be looking for that perfect place to relocate to. Realtor.com®’s research team sought to find the best metros for new college grads by analyzing 200 of the largest metros to see which ones offered the most in-demand job opportunities, affordable housing, and largest single and millennial populations, among other factors.About half of those who recently graduated hold jobs that aren’t rel
Homeowners say their top motivation for remodeling is simply because they “desire better/newer amenities,” according to the National Association of Home Builders’ Remodeling Market Index for the first quarter of 2017.The desire for better amenities narrowly beat out the “need to repair/replace old components” once again in this year’s survey.View the chart to see the chief reasons why homeowners say they remodel.Source: “Desire for
The Austin, Texas, metro area will boast the largest “net zero” master-planned community in the nation. At Whisper Valley, about 7,500 eco-friendly single-family homes, townhomes, and rental apartments are to be built completely energy-self-sufficient. That means the homes will send as much power back to the grid as residents use.The $2 billion community will open in the next month. It sprawls more than 2,000 acres about eight miles east of A
Emerging tech trends that will change the future of your businessKey Takeaways New technologies are going to change the way we do business in the future. Using virtual reality is a great new way to get consumers excited about seeing homes. Computer visioning has potential for understanding the consumer search experience at a higher level.In 2016, real estate technology companies raised a record breaking $3 billion across 209 deals; to put this in
Talk to (rather than at) your sellers, and ask powerful questionsKey Takeaways Don't promise what you can't deliver and find at least one "wow" factor opportunity to stand out.Packed with gems, Inman’s Special Report on listing presentation success provided a roadmap to winning over more sellers. Alongside examples of what real estate agents should do to improve their odds, respondents weighed in on the flip-side: those dreaded mistakes that c
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