Low inventory levels have sidetracked the spring buying season and dampened financial and economic confidenceKey Takeaways May's pending home sales dipped 1.7 percent to 108.5 thanks to inventory shortages and rising home prices.The National Association of Realtors (NAR) Pending Home Sales Index (PHSI) is down for the third consecutive month due to continued inventory shortages and surging home prices.May’s PHSI, which is based on contract sign
Provider of virtual real estate tours is putting the power of structured data into the hands of agentsThe same search engine optimization tool used by Zillow, realtor.com and other aggregators is now being used by a major producer of virtual tours to allow agents to once again deliver homes for sale directly to would-be buyers.The tool is called “structured data,” and it allows the likes of Zillow, ListHub and others to rise to the top of sea
Some urban areas are great for both buying and rentingWhen searching for a home, deciding whether to rent or buy can be a daunting task. The choice is one of the biggest decisions that many adults make in their lives.Many younger people have been renters for most of their adult lives, which makes the leap into homeownership a difficult one. The costs of buying can vary more than renting, but there are many hidden costs that can be overlooked, mak
Things you might need for listings, open houses, marketing -- or for yourselfKey Takeaways A real estate agent's day can be full of unexpected (and sometimes messy) surprises. Be prepared to tackle any situation with the right tools.Between the listing appointments, buyer showings, open house events, home inspections and office meetings, real estate agents tend to spend a lot of hours in their vehicles.And when you’re accustomed to all that win
'Since demand is exceeding supply and financing is available, there is nothing right now to keep prices from going up'Key Takeaways The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, covering all nine U.S. census divisions, reported a 5.5 percent annual gain in April, down from 5.6 percent last month.April’s S&P/Case-Shiller Home Price Index numbers set a fifth consecutive all-time high — a trend that isn’t expecte
No matter what, the home absolutely must look its bestKey Takeaways Quality photography is defined differently by different agents, but the key is turning out a professional product.With more than 90 percent of buyers starting their home search online, listing photos are your new curbside. And if you want buyers to stop and investigate further, your exterior photos, especially, need to create a positive first impression.But exactly what does cons
The door for first-time homebuyers is wide open.Rents are rising faster than incomes, which is causing many millennials to enter the market and buy. In fact, half (50 percent) of today’s homebuyers are under the age of 36, according to Zillow’s 2016 Consumer Housing Trends Report, and 47 percent are first-time buyers. Solo homebuyers are in the minority, while most buyers are shopping with a spouse or partner (73 percent).Buying a home is t
Buyers want to be able to picture themselves in the houseWhen you show your home’s best features by staging it effectively, you help increase your final selling price without breaking the bank. As our infographic below shows, the following five golden rules of home staging will help you show off its best assets:The five golden rules are:1. De-personalize: While your family photos are beautiful and your kids’ drawings on the fridge are adorabl
A new survey of 30 large cities in the United States shows that the cost of water utilities has risen by up to 150 percent over the last seven years.The data from Circle of Blue, a group of journalists and scientists tracking water issues, shows that in some cities, a family of four using 12,000 gallons a month—which is considered average household use—could pay up to $154 per month.That was the rate for Santa Fe, N.M., with San Francisco com
Ongoing inventory shortages are propelling home prices higher, causing pending home sales to slump for the third consecutive month, the National Association of REALTORS® reported Wednesday. None of the major regions of the U.S. saw an increase in contract activity in May.NAR’s Pending Home Sales Index, a forward-looking indicator based on contract signings, dropped 0.8 percent to a reading of 108.5 in May. The index is 1.7 percent below a year
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