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60% say they can't afford renovations but are going to do it anyways Nearly two-thirds of homeowners who have $10,000 or more of unsecured debt say they are planning on doing renovations to their home in the next five years, according to a survey from Freedom Debt Relief.  The report, which...
Announces long-awaited changes to eligibility requirements that include individual unit approval The Federal Housing Administration has finally issued a long-awaited update to its condominium rules, announcing Wednesday that it will now allow individual unit approval and is taking other steps to loosen requirements that make these properties eligible for FHA financing. Under...
Over a third of renters and homeowners said they cut down on essential items like food More than a third of Americans have been forced to reduce spending on essential items like food and utilities to be able to afford housing, according to a Freddie Mac study. About 42% of renters and...
The 55+ housing market is still going strong
Builder confidence in this sector remains solid As more Baby Boomers look not just to downsize but to “rightsize” in their retirement years, the 55+ housing market is humming along nicely, showing solid activity despite the faltering state of the overall market. According to the latest from the National Association of...
Here's where Millennials are moving
Study shows younger homebuyers are moving West and South Some say that anticipated wave of Millennial homebuyers has finally crashed, with realtor.com data showing that 45% of all new mortgages last year were connected to a member of this generation. Now, a new study shows us where they're landing, pointing out the most popular...
June's construction spending sinks 1.3% below last year's rate
Residential construction spending falls 0.5% from the previous month The U.S. Census Bureau announced that construction spending during June 2019 was estimated at a seasonally adjusted annual rate of $1.29 trillion. Although June’s rate is similar to May’s, the organization indicated June’s spending is 1.3% below the June 2018 estimate of $1.31 trillion. This means June's level now represents the largest decline since November of last...
Rent in the Big Apple hits 3-year high
The nation's median monthly rent for a one-bedroom climbs to $1,223 The nation’s median rent prices moderately rose in August, climbing the highest in the Golden State, according to Zumper’s latest National Rent Report. According to the company’s data, the rental price for a one-bedroom and two-bedroom unit inched forward 1.1% and 0.5% this month. This means it now cost...
homebuilders are betting on single-family rentals
KEY POINTS Taylor Morrison just announced a partnership with Christopher Todd Communities to build single-family, rent-only communities.It’s part of a trend of builders stepping into the single-family rental space, either on their own or partnering with established rental companies.Both Lennar and Toll Brothers have recently started building homes for rent. Lennar sells its...
America's rental market heats up as its housing market takes a breather
Although the housing market continues to experience a slowdown in home price appreciation, new data from Zillow suggests the nation’s rental market is thriving. According to the company’s Real Estate Market Report, U.S. rent prices accelerated for the ninth-straight month in June. As of now, the average apartment costs the typical renter $1,483. This translates to a 3% annual increase, as rent is now up in...
Realtor.com expands Local Expert feature to city level
The feature is available in approximately 25,000 cities Real estate and housing search website realtor.com has added a new feature to make it easier for users to see content and listings from local experts.  Homebuyers who search for homes by city can now see branded content and listings from agents, teams and brokers in their search results. Real estate professionals...
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