Mortgage rates held steady overall this week, a welcome relief to home shoppers who may have been watching them rise week after week since the beginning of the year.The 30-year fixed-rate mortgage averaged 3.55% this week, Freddie Mac reports.“Following a month-long rise, mortgage rates effectively stayed flat this week,” says Sam Khater, Freddie Mac’s chief economist. “Recent rate increases have yet to significantly impact purchase deman
As the pandemic caused by COVID-19 has continued, more young adults have chosen to move back home with their parents. In 2020, the share of young adults aged 25 to 34 living at home rose to the highest share recorded since 1960: 17.8%, the National Association of REALTORS® reports. That percentage remained high in 2021 at 17%—the second-highest share on record.“Some young adults may have recently moved back home due to the flexibility of rem
Blame fewer homes for sale as the culprit behind the most recent decrease in contract signings, not lessening demand, a new report from the National Association of REALTORS® suggests.NAR’s Pending Home Sales Index—a forward-looking indicator of home sales based on contract signings—fell 3.8% in December 2021 compared to November. Contract signings were down 6.9% year-over-year.“Pending home sales faded toward the end of 2021, as dim
Home sellers in 2021 may have been a little shocked at the profit they made selling their homes. A report shows that home sellers nationwide realized a profit of $94,092 on a typical sale in 2021, up 71% from two years ago, according to ATTOM Data Solutions, a real estate data firm.Home seller profits rose in more than 90% of the housing markets tracked based on median purchase and resale prices, marking the highest level since 2008.The $94,
New-home sales ended the year on a strong note as more home buyers flooded the market faced after finding fewer and fewer choices in existing homes for sale. Sales of newly built single-family homes jumped about 12% in December 2021 compared to November, the Commerce Department reported Wednesday.“Though builders continue to grapple with higher construction costs, the December data reveal ongoing demand for new construction, given lean inv
Rental demand surged in 2021, partly because many higher-income households turned to renting after unsuccessful searches in the for-sale market, according to America’s Rental Housing 2022, a report released by the Harvard Joint Center for Housing Studies. Those households have driven nearly 70% of total renter growth over the past decade. The growing number of amenity-rich rentals in desirable locations is attracting higher-income renters but a
U.S. commercial property sales soared in 2021 as investors snatched up warehouses, apartment buildings, resorts and hotels, and more, according to new data from Real Capital Analytics.Commercial property sales reached a record high of $809 billion in 2021, nearly double 2020’s total. It also pushed ahead of the previous record set in 2019 of $600 billion."Everything's lining up for another strong year," Carly Tripp, head of real estate investme
The top housing markets in the country spread across 14 states, reflecting Americans’ willingness to search far and wide for housing affordability. Realtor.com®’s latest rankings reflect the market demand and where homes sell the fastest.Manchester-Nashua, N.H., returned to the top spot in the December 2021 index. The area ranked as the hottest housing market eight times last year.“In recent months, [as] pricey Wes
Since the pandemic began, more homeowners have been adding plants inside their homes—a closer tie to the outdoors after being cooped up indoors more. Studies have suggested that the extra houseplants are making people better at their jobs and happier too.A recent study conducted by Cinch Home Services, a home warranty firm, found that people with five or more houseplants are more likely to indicate feeling satisfied with their jobs, productivit
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