Households in the suburbs increased nearly 8 percent nationally from 2010 to 2017, while urban areas grew by 6.6 percent, according to an analysis by realtor.com®.“Most high-growth urban areas just don’t have enough land, so prices are higher and homeownership is typically lower,” says Jonathan Smoke, realtor.com®’s chief economist. “It’s tempting to live in a walkable urban neighborhood … but the costs make it hard to afford, es
Pets are having more of an influence in home buying and selling as well as renovation, a new study by the National Association of REALTORS® shows. Eighty-one percent of Americans say that animal-related considerations play a role when deciding on their next living situation, according to the 2017 Animal House: Remodeling Impact report.“In 2016, 61 percent of U.S. households either have a pet or plan to get one in the future, so it is importan
Home price appreciation picked up speed in the final three months of 2016, prompting the majority of metro areas to soar to new record highs with home prices, the National Association of REALTORS®’ latest quarterly report reveals. Of the 150 markets NAR has tracked since 2005, 52 percent – or 78 – now have a median sales price that is at or above its previous all-time high.The fourth quarter of 2016 proved to be a strong one for home price
The equity picture is looking brighter for homeowners. At the end of 2016, there were 13.9 million U.S. properties – or nearly 25 percent of the housing stock with a mortgage -- that were considered equity rich, according to ATTOM Data Solutions.Equity rich is when the loan on the property is 50 percent or less of the property’s estimated market value. The number of equity-rich properties has grown by 1.3 million homes compared to a year ago.
Atlanta is HomeUnion’s latest top pick as the market that could offer the best opportunities for single-family rental investors. Home prices in Atlanta have yet to recover as solidly as other markets so investors there are more likely to jump in at a lower cost, yet still be able to charge higher rents due to demand from the metro’s growing job market, notes HomeUnion, a single-family-rental acquisition and management company."Atlanta has mov
As businesses evolve in the digital era, it’s affecting their needs when it comes to physical space in commercial properties. Broker-owners of commercial firms should take note of three trends Transwestern recently highlighted in its first quarter Insights report covering the retail, industrial, and multifamily sectors.1. Retail: The Rise of Mobile DataRetailers are getting more sophisticated in how they’re collecting mobile data about their
One in four U.S. adults say they are considering buying a home this year, which extrapolates to a whopping 59 million people, according to a recent survey by Bankrate.com.Minorities are expected to be big buyers this year. More than two in five black survey respondents said they were considering buying a home. That is more than double the percentage of potential white buyers.“Black homeowners were harmed in greater numbers by the housing crash
Many farmers are facing higher debt as a multiyear drop in prices for corn, wheat, and other commodities plagues on. That is pushing more farmers out of business. The Farm Belt will soon have fewer than 2 million farms, the lowest in years.Still, economists aren’t predicting the crisis to be as severe as the one that struck the Farm Belt in the 1980s, in which farmland values plummeted and interest rates soared.Economists expect farmland values
Atlanta, Ga., was the top moving destination in the U.S. for 2016, according to a newly released study by Penske Truck Rental, which reflects the company’s one-way rental truck data. Atlanta has claimed the top spot for the past seven years. Dallas-Fort Worth, Texas, continues to increase in moves, however.Take a look at the chart below to view the top moving destinations in the U.S.Source: Penske Truck Rental
More Americans are showing optimism toward their personal finances and the housing market, a reversal to a five-month decline in Fannie Mae’s Home Purchase Sentiment Index.In particular, Americans are more upbeat about home prices, home selling, their rising household incomes, and they’re less scared about losing their jobs, according to Fannie Mae’s Home Purchase Sentiment Index, a survey of 1,000 Americans in January about their attitudes
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