Sales of new single-family homes dropped for the third consecutive month in February, mostly due to plunges in sales in the Midwest and West, the Commerce Department reported last week. Both regions are seeing a rapid price growth and shortage of homes for sale.The nationwide drop was modest, at 0.6 percent month over month on a seasonally adjusted annual rate of 618,000 units. But new-home sales saw a 17.6 percent drop in the West and 3.7 percen
Sellers may be shooting themselves in the foot when they leave an empty, dark, or cluttered room unstaged, according to a recent realtor.com® article. Empty rooms, for example, can “kill a home sale, especially if the other rooms are furnished,” says Allison Bethell of FitSmallBusiness.com. Imperfections stand out more in an empty room, and the absence of furnishings could make it more difficult for buyers to visualize how to use the space.A
A growing number of startups are helping renters and landlords navigate an increasingly hot rental market. Some companies aim to teach cash-strapped renters how to qualify for an apartment and budget for hikes in rental costs, while others help them raise thousands of dollars for a security deposit or improve their credit to get approved for a lease.Still others are focused on protecting landlords. For example, startup company Rhino offers securi
The California Geological Survey is helping state residents learn how close they live to a fault line, using interactive maps that can be accessed via smartphone. Users can type in an address or share their location to see the nearest high-risk earthquake zone. The maps also reveal the risk of liquefaction—when land loses its stiffness under the stress of an earthquake and becomes like quicksand—or a landslide.State lawmakers ordered the c
Housing affordability is worsening nationwide, beyond just the coastal markets. The median home price was not affordable to the average wage earner in 68 percent of counties tracked in the first quarter of 2018, according to a new report by ATTOM Data Solutions.ATTOM researchers determined affordability for average wage earners by calculating the amount of income needed to make a monthly house payment (including mortgage, property taxes, and insu
Pending home sales reversed course in February, increasing in most areas of the country even as a shortage of homes for sale and higher home prices struck many markets, the National Association of REALTORS® reported Wednesday.NAR’s Pending Home Sales Index—a forward-looking indicator based on contract signings—increased 3.1 percent month over month in February to a reading of 107.5. Despite the uptick, the index remains 4.1 percent below a
If you're interested in cryptocurrency, such as bitcoin and etherium, and live in a chilly climate, a new device that might help you earn some digital money while it warms your home.European startup Qarnot is getting ready to roll out its QC-1 room heater, which it says is powered by two GPU digital mining devices. The power the graphical processing units consume while mining digital coins is sufficient, according to the company, to warm a room o
An increase in mortgage rates didn’t suppress loan demand in the kickoff to the spring buying season. Loan applications for both refinancings and home purchases jumped 4.8 percent last week on a seasonally adjusted annual basis, the Mortgage Bankers Association reported Wednesday. Mortgage applications are now at the same level as a year ago.Applications for home purchases, viewed as a gauge of homebuying activity, increased 3.1 percent from th
Some homeowners are taking steps to appeal their property taxes after the new tax law that took effect at the beginning of the year placed a $10,000 cap on the state and local tax deduction. In some high-tax states, such as California, New Jersey, and New York, homeowners may feel the pinch on their tax bill.Some tax experts say owners may find a benefit to appealing their property taxes and doing the extra work to try to lower their tax bill. Fo
Several fair housing organizations sued Facebook on Tuesday, accusing the social media giant of allowing landlords and brokers to discriminate based on gender and family status on its advertising platform. They argue that advertisers could use the personal data of Facebook users to then target ads that could exclude certain populations from viewing them.The National Fair Housing Alliance and three other housing groups filed the lawsuit, alleging
This website includes images sourced from third party websites including Adobe, Getty Images, and as otherwise noted.
