August Home Prices Down, Inventory Up [Video]
The August housing market report finds home listing prices are down, home inventory is up, and homes for sale are spending more time on the market. Combined, this gives buyers more choices during what is typically the best time of year to buy a home.
Read MoreRenting vs. Owning a Home
Owning a home is a life-changing decision, and it’s something to take seriously. And while homeownership is the ultimate goal for most people, owning a home has several challenging aspects. According to a press release from the Department of Housing and Urban Development (HUD) released in February 2022, over 326,000 individuals had, at one point,…
Read MoreQuestions to Consider About an Investment Property Before Buying
Successful real estate investing demands attention to detail. Careful analysis is especially important for investors who intend to purchase investment rentals or flip a property. Not adequately addressing all the elements of a real estate transaction can reduce the anticipated return or even result in financial loss. For example, overlooking weaknesses in a property, underestimating…
Read MoreHow Home Appraisals Impact Buyers and Sellers
Home appraisals are unbiased professional insights into a home’s value based on the property’s condition, location, and features. A professional assessment is required for most real estate transactions to confirm the property is worth at least as much as a mortgage lender will lend to purchase the property. Similarly, when a homeowner wishes to refinance…
Read MoreJuly Home Inventory Rises As Price Reductions Increase [Video]
July housing inventory levels continue to rise, providing more options to homebuyers who are actively looking for a new home. Home price reductions are also increasing as sellers adjust to the new normal. However, housing remains expensive and fast-paced, with the median asking price close to June’s all-time high.
Read MoreHousing Inventory Rises Again in July [Infographic]
Highlights Nationally, the inventory of homes actively for sale on a typical day in July increased by 30.7% over July 2021, the largest inventory increase in Realtor.com® data history. Higher than June’s record-breaking growth rate of 18.7%. The total inventory of unsold homes, including pending listings, increased by just 3.5% year-over-year due to a decline…
Read MoreQuestions to Ask Yourself Before Investing in Real Estate
Over the centuries, real estate investing has been a very lucrative endeavor. Even non-speculating homeowners who have owned and maintained investment properties for several years have achieved double and triple-digit investment returns. Private residence values have risen substantially, although there have been notable dips in recent history. According to a July 2022 Realtor® Magazine article,…
Read MoreTop Seven Tips for First-Time Homebuyers
Purchasing a first home is an exciting time. The saving, researching, comparing, and final closing, followed by the excitement of the move-in, are experiences first-time homebuyers long remember. However, it is helpful for first-time buyers to exercise extreme caution with each step of the process since ignoring certain precautions can quickly turn to despair. Selecting…
Read MoreWhat You Should Know About Home Appraisals
Home appraisals performed by professionally certified appraisers are required in most real estate transactions and mortgage refinances. When a lender is involved in loans that use a property as collateral, they order an appraisal to ensure the property meets or exceeds the loan amount. Appraisals protect the lender in case of subsequent default by the…
Read MoreNational Median Price for Active Listings at a Record High in June [Infographic]
Highlights The national median listing home price hit a record high in June at $450,000, up 16.88% year-over-year and up 31.4% compared to June 2020. The national inventory of active homes listed for sale increased 18.7% year-over-year. The total inventory of unsold homes declined by 1.4% due to a decline in pending inventory. More new…
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