2024-04-11 08:42:00 | housing
... oss states underscore the uneven recovery and challenges still faced by certain regions. ...
2024-04-09 09:25:00 | cryptocurrency demographics real estate
... ir financial portfolios in unconventional ways. Cryptocurrency emerges as a popular asset, with 21% of these younger cohorts investing in digital currencies, nearly matching the 20% who own real estate. This trend underscores the changing perceptions of investment and asset ownership among younger Americans, who are also embracing financial "hacks" and strategies popularized through social media.The survey, conducted online by YouGov for Policygenius from October 16 through 19, 2023, polled 4,063 U.S. adults and revealed that younger generations are more open to experimenting with financial ha...
2024-02-09 | high net worth wealth management
... venture capital injections into emerging startups, financing innovative real estate projects, or backing new tech endeavors, firms like Morgan Stanley provide avenues for significant direct investment returns, though with a higher risk threshold, enabling investors to engage more directly with their investment choices.Harnessing Technology for Enhanced Investment ManagementIn the digital era, technological advancements are crucial in investment management. Leading firms invest substantially in technology to offer state-of-the-art analytical tools, real-time financial data, and bespoke investm...
2024-01-18 | housing
... on. Rob Barber, CEO of ATTOM, stated that rising property prices are a major factor in the rise in rental expenses, making it difficult for most Americans to purchase and rent real estate. "But the latest data shows that even as rents are growing faster, they remain more affordable than owning."The current state of affairs, which favors renting over owning, is the result of a number of housing market developments that provide home seekers with few clear options but eventually tilt in favor of rentals.In much of the nation, the cost of homes and rental rates have increased within the past 12 mo...
2023-06-01 17:00:00 | housing interest rates
... rom a year earlier during the four weeks ending May 28, one of the biggest declines since the start of the year. That’s according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. That year-over-year drop is especially notable because pending sales had already started falling at this time last year as mortgage rates shot up past 5%.Seasonally adjusted measures of homebuying demand show that it has also dipped in earlier stages of the house hunting journey. Mortgage-purchase applications and Redfin’s Homebuyer Demand Index—a measure of home tours and ...
... iced, updated homes still attracting buyers and selling more than a week faster than was common before the pandemic.In May, the typical home spent 43 days on market, 14 days longer than this time last year, but 9 days faster than the pre-pandemic May 2017-2019 average.Across the 50 largest U.S. metros, the typical home spent 37 days on the market, 13 days more than the previous May. This trend was seen across all regions, with larger metros in the South seeing the greatest increase (+16 days), followed by the West (+12 days), Midwest (+9 days) and Northeast (+7 days).All of the 50 largest metr...
2022-07-28 12:00:00 | consumers debt
... ne point or another, with 72% of millennials currently owing non-mortgage debt of $117,000 on average, according to a new report by Real Estate Witch, an online publication that provides expert real estate advice. A survey of 1,000 millennials found that 67% had credit card debt. This makes it the most common type of debt among them. The average credit card debt amount is $5,349. Student loan debt was next, with 48% of millennials reporting they had student loans and owed an average $126,993. 40% of millennials earn less than $50,000 per year, so 24% regret not choosing a hi...
2022-04-22 | housing
... e power, according to Redfin Los Angeles real estate agent Heidi Ludwig. “Buyers are becoming more discerning. They’re less willing to overpay because now they’re only facing three or four competitive offers instead of dozens. Sellers may get frustrated if home-price growth starts to slow, but they should still be able to command excellent prices for their home as long as they price appropriately and put the work in to make their home as appealing as possible. This means staging, deep cleaning, a fresh paint job and landscaping—things that were not as necessary when the market was w...
2021-12-22 12:00:00 | real estate
... have gone up not only in wealthy big cities. Homeowners in rural America who typically don't see significant increases in home values are also reaping the benefits of a booming real estate market. ” The value of rural houses in November increased by 46.2% year-over-year to US$4.9 trillion. In contrast, the value of urban homes rose by 31.3% to US$8 trillion, while the value of suburban homes rose by 25.9% to US$24.1 trillion. As cities recover from the slowdown in coronavirus growth, rural areas are still more popular than before the pandemic, as remote workers continue to seek...
2021-10-13 | advice financial planning
... in real estate, equities, or insurance lack access to well-qualified professionals who could help them with those decisions," he stated. "Having access to solid guidance is essential at an early age, because the decisions people make while they're young adults will significantly affect their futures as they mature." Individuals who do turn to qualified professionals for guidance in making major financial decisions become better able to choose options that align with their personal finance goals, both in the short- and long-term. The lack of access to trusted advice indicated by these research...
2021-08-16 09:08:19 | housing
... seeing five to eight offers on homes instead of 25, and they're coming in $5,000 to $10,000 above the listing price instead of $50,000 to $60,000," said Scott Mercer, a Redfin real estate agent in Sacramento, CA. "Buyers are pushing back. They've even started including appraisal contingencies again and making requests for repairs—things that were pretty much unheard of last year." Fort Collins and Orlando Have the Highest Bidding-War Rates Fort Collins, CO—a college town and the state's fourth-most-populous city—had the highest bidding-war rate of the 47 U.S. metropolitan areas in ...
2021-08-10 10:08:19 | housing
... end because it's partly attributed to a shift toward smaller homes for sale. Still, if these changing inventory dynamics continue, we could see a wave of real estate activity heading into the latter part of the year." Summer surge in new listings continues; inventory declines improve across the boardAlthough new listings growth is still below typical 2017-2019 levels (-9.5%), more new sellers entered the market in July (+6.5% year-over-year), which was higher than June's 5.5% increase year-over-year. Newly listed homes typically decline from June to July, but this year they held steady at -0...
2021-06-10 08:52:09 | housing interest rates
... ted because demand for second homes was relatively low in May 2020 due to the coronavirus pandemic slowing real estate activity. Demand for vacation homes jumped in June 2020 as the U.S. real estate market came roaring back to life, with a 110% year-over-year increase in second-home mortgage locks, and the level remained elevated through April. The annual increase in May is similar to pre-pandemic levels. There are several reasons for the cooling in second-home demand this spring. High prices are likely playing a role, as is the reopening of offices. The typical spring slowdown in overal...
2021-06-01 | housing real estate
... e are homes for sale. I don't see that changing until mortgage rates increase, which will likely happen later this year. But until then, the housing market will remain red-hot." Source: Redfin...
2021-06-01 | housing real estate
... 9, 2021. The survey reached 1,244 U.S. adults. The results are weighted and are representative of all U.S. adults (18+). Source: Regions Bank...
2021-05-19 | real estate
... d up competing with investors in bidding wars." A frothy stock market is another factor that could attract more investors to real estate, according to Redfin Chief Economist Daryl Fairweather. "Investors may shift away from stocks and toward housing because housing is a relatively safe bet," Fairweather said. "There aren't a lot of safe bets out there right now." Investors initially pumped the brakes at the beginning of the pandemic because the housing market had ground to a halt. The market then came roaring back, but investors were slower to rejoin the party, lik...
2021-05-11 12:00:04 | housing real estate
... aces like Florida and Texas during the pandemic, which has fueled home sales and driven up prices in those areas." To read the full report, including additional charts and graphs, please visit: ...
2021-05-10 12:00:01 | real estate
... taken in context, as demand for primary homes dropped last April due to the pandemic. The data in Redfin's report is based on the company's analysis of mortgage-rate lock data from real estate analytics firm Optimal Blue. Demand for vacation homes remains elevated as wealthy Americans continue to have the freedom to work remotely and earn money from robust stock portfolios and rising home values. Even as some offices start to reopen, many Americans plan to work remotely for the long term, at least part of the time. "The combination of the wealthy becoming wealthier, remote work turnin...
2021-05-07 | housing real estate
... re balanced. A more balanced market could encourage more move-up homeowners to finally sell, because they won't be so fearful about being able to find and compete for a home to buy." Source: Redfin...
2021-04-30 12:00:00 | housing real estate
... or the wealthiest among us." To view the full report, including charts and methodology, please visit: https://www.redfin.com/news/housing-market-update-home-prices-up-20-pct/ Source: Redfin...
2021-04-28 12:00:10 | workplace
... oking for a wide variety of options for entertainment. A panel of economists and real estate experts recently surveyed by Zillow expect Austin to be one of the nation's hottest housing markets in 2021. Page views to rental listings in Austin are the second highest out of all metros analyzed, up 93% from the first quarter of last year. With iconic food trucks and breakfast tacos, unique shops, boutiques, and live music, Austin scores the highest on the list for having the highest share of amenities likely sought-after by digital nomads. Local gems like Torchy's Tacos, Allens Boots and the...
2021-04-27 | housing real estate
... emic. During the 12 weeks ending June 29, 2020, sales of urban condos reached a record low, down 44.9% year over year. Sales of suburban condos dipped nearly as much, dropping 42.3%. Source: Redfin...
2021-04-20 12:00:09 | housing real estate
... ing the pandemic. "Luxury properties, even those in the $3 million range, are getting multiple offers and going for well over the asking prices," said Oakland, CA Redfin real estate agent Katy Polvorosa. "That's something we haven't seen before, even though the Bay Area has many affluent residents. Everyone just wants more space and big backyards, whether it's because they're stuck at home during the pandemic or because they have a growing family." The U.S. housing market is experiencing a record deficit of homes for sale as demand soars due to low mortgage rates and remote work, but...
2021-04-15 12:00:00 | housing real estate
... 2020. Lenders completed the foreclosure process on 1,576 U.S. properties in March 2021, up 2 percent from the previous month but down 83 percent from March 2020. Source: ATTOM Data Solutions...
2021-04-14 12:00:01 | demographics investing
... ...
2021-04-13 12:00:01 | investing pandemic
... Communication services 21% 24% Consumer discretionary 20% 15% Utilities 19% 20% Materials 19% 15% ...
... activity in many parts of the country temporarily halted with lockdowns. The data in the report is based on a Redfin analysis of mortgage-rate lock data from real estate analytics firm Optimal Blue. Pandemic-driven demand for second homes is soaring as many affluent remote workers opt to spend at least part of their time in vacation destinations, even as some companies are planning for workers to return to the office. The annual rise in demand for second homes is nearly quadruple the 34% year-over-year gain for primary homes. "The Palm Springs housing market is incredibly busy, with an ...
2021-04-06 12:00:00 | pandemic affluent
... comfortable talking to friends about real estate decisions, healthcare costs, and their approach to saving for retirement. However, they have become increasingly comfortable talking about changes to life plans due to financial concerns (72% today vs. 66% 20 years ago) and how market volatility impacts their personal investments (71% today vs. 63% 20 years ago). Compared to other generations today, millennials are even more comfortable talking with friends about all types of financial topics. The Modern Investor: Getting Educated and Socially Conscious Respondents are turning to a range ...
2021-04-06 | housing
... eing closer to family or friends or living in an area they've always dreamed of.3 New flexibility to telework has opened up those opportunities for many, and new real estate technology, like Zillow's 3D home tours and interactive floor plans, has enabled movers to get an immersive experience of a home from hundreds or thousands of miles away, offering added confidence for buyers shopping remotely. The Sun Belt tops moving destinations Phoenix, Charlotte, N.C., and Austin, Texas, saw the highest net inbound moves in the first 11 months of 2020, as recent movers sought out relative afforda...
2021-04-01 12:00:01 | housing real estate
... on the most recent average weekly wage data available from the Bureau of Labor Statistics, making a median-priced home nationwide unaffordable for average workers. Source: ATTOM Data Solutions...
2021-04-01 | housing real estate
... 30 days faster than last year. Homes also are selling fast in Riverside, Calif., and Austin, Texas, where they are spending 23 and 26 days on market on average, respectively. Source: Realtor.com...
2021-03-30 | workplace employment
... return after the COVID-19 pandemic. “An increase in remote working will meaningfully change office space configurations, which will subsequently affect employees, finances and corporate real estate,” said Tammy Shoham, director in the Gartner Finance practice. “The most obvious consequence is that firms will need less office space per employee. While it is difficult to accurately predict the long-term effects that will have on property markets, short-term impacts are already being felt. “Many more office workers will need to get used to not having a desk of their own. The space thi...
2021-03-29 12:00:00 | housing
... c recovery and expedited distribution of fiscal support to renters and landlords is needed to prevent a potential eviction crisis, and keep landlords and renters in their homes. Source: Zillow.com...
2021-03-25 12:00:00 | millennials housing
... the hardest time finding a home within their budget at 37%, followed by 33% for Gen X and 30% for Gen Z. The old adage when it comes to real estate is it's all about location, and this year's first-time buyers reinforced that. At 38%, location ranked as the top feature potential homebuyers are looking for, followed by a quiet location at 33%, a large backyard at 32% and a garage at 29%. Gen Z ranked location as their No. 1 choice at 37%, followed by garage at 35% and updated kitchen at 26%. Quiet location and large backyard tied for fourth with the youngest cohort of buyers at 25%. For...
2021-03-24 | housing real estate
... cluding charts and methodology, please visit: https://www.redfin.com/news/profile-of-a-pandemic-homebuyer/ Source: Redfin...
2021-03-22 12:00:00 | housing
... ...
2021-03-22 09:08:19 | housing real estate
... a few months." To read the full report, including additional Redfin agent insights, please visit: https://www.redfin.com/news/most-effective-bidding-war-strategies-2020-2021. Source: Redfin.com...
2021-03-19 12:00:00 | housing real estate
... its reporting as new data becomes available. To view the full report, including charts and methodology, please visit: www.redfin.com/news/housing-market-update-one-year-pandemic/ SOURCE Redfin...
2021-03-18 14:00:00 | real estate
... ent of the property's after repair value). Gross flipping return on investment was calculated by dividing the gross flipping profit by the first sale (purchase) price. Source: ATTOM Data Solutions...
2021-03-04 | housing real estate
... selling 35 days faster. Homes in all three neighborhood types hit record lows in terms of days on market in the fall before swinging slightly upward over the last three months. Source: Redfin...
2021-02-26 | real estate
... new anxieties." To view the full report, including charts and methodology, please visit: https://www.redfin.com/news/housing-market-update-polar-freeze/ Source: Redfin...
2021-02-25 | housing
... ...
2021-02-17 | real estate
... s Supply of Inventory were a two-way tie between Albuquerque, NM and Boise, ID at 0.5, and a four-way tie between Phoenix, AZ, Denver, CO, Seattle, WA, and Salt Lake City, UT at 0.6. Source: ReMax...
2021-02-12 12:30:30 | real estate pandemic
... found that asking prices of newly listed homes hit a new all-time high of $334,770, up 10% from the same time a year ago, and pending home sales were up 29% year over year. The pandemic real estate market is further compounded by a severe lack of inventory. New listings of homes for sale were down 11% from a year earlier, and active listings (the number of homes listed for sale at any point during the period) fell 37% from 2020 to a new all-time low. Half (52%) of homes that went under contract had an accepted offer within the first two weeks on the market, well above the 43% rate during...
2021-02-03 09:30:30 | housing economy
... ing services such as home tours and making offers to purchase a home. "I don't see the market slowing down at all in the next few months," said Phoenix Redfin real estate agent Van Welborn. "People are confident in the market and people are buying homes. And it seems like nothing is holding them back: There was absolutely no slowdown for the holidays, the election didn't affect anything, and the attack on the Capitol didn't register on the housing market at all." While the hot market is largely only benefitting the few people who are selling their homes this winter, there are many people...
2021-02-02 13:00:00 | pandemic retirement
... h finances in their relationships. Of the couples surveyed, 67% said they are finding it difficult to achieve certain milestones as a result of the pandemic. In fact, despite the booming real estate market, nearly 1 in 4 couples whose jobs were impacted by COVID-19 said that they had to delay purchasing a home until they feel financially ready. The proportion of millennials who are putting off their house purchase is seven times that of baby boomers (30% vs. 4%). Financial hardships and delays are particularly high among millennial couples, who, according to the survey, also worry about ...
2021-01-22 13:00:00 | housing
... late in 2020, record low mortgage rates have made monthly payments more affordable for buyers. Rates are currently on an upward trend, but are still far below long-term averages. Source: Zillow...
2021-01-22 | housing
... sting home supply and working toward solutions that will protect and support homeownership and America's broader real estate industry." According to Freddie Mac, the average commitment rate for a 30-year, conventional, fixed-rate mortgage decreased to 2.68% in December, down from 2.77% in November. The average commitment rate across all of 2020 was 3.11%. Single-family home sales rose at a seasonally-adjusted annual rate of 6.03 million in December, up 0.7% from 5.99 million in November, and up 22.8% from one year ago. The median existing single-family home price was $314,300 in December...
... up rents in the suburbs and less dense markets. As vaccines are being rolled out nationwide, the question is, how much longer will these trends continue? What's clear, is that the mantra of real estate being local very much applies to rents, not just home prices." San Francisco led the nation in declines with average monthly rents falling 33.8%, 25.5% and 22.8% for studio, one-bedroom and two-bedrooms units year-over-year, respectively. Rents for studios and one-bedrooms in nearby Santa Clara, Calif. and San Mateo, Calif. counties also saw double-digit decreases in December. Outside of the...
2020-12-29 | housing real estate
... ales were up 34% year over year. In the single week ending December 20, pending sales were up 30% from the same week a year earlier. New listings of homes for sale were up 12% from a year earlier. Active listings (the number of homes listed for sale at any point during the period) fell 31% from 2019 to a new all-time low. 39% of homes that went under contract had an accepted offer within the first two weeks on the market, well above the 26% rate during the same period a year ago. The average sale-to-list price ratio, which measures how close homes are selling to their asking prices, de...
2020-12-29 | housing real estate
... y) performed creditably well." More than 27 years of history are available for these data series, and can be accessed in full by going to https://www.spglobal.com/spdji/. Source: prnewswire.com...
2020-12-28 | housing
... during the pandemic will make a digital-first experience the new standard for real estate in 2021 and beyond, helping to increase the pace of transactions. These innovations can connect sellers with interested buyers more quickly, keeping inventory from stockpiling to the same degree it has in the past. Take the home shopping experience: Innovations like 3D Home tours paired with interactive floor plans and virtual tours are allowing shoppers to winnow down their options without leaving their couch -- requests for virtual tours tripled when stay-at-home orders began this spring. When it c...
2020-12-20 | housing mortgages
... home in 2020, according to a new report from Redfin (www.redfin.com), the technology-powered real estate brokerage. The median monthly mortgage payment nationwide reached a low of $1,094 in November, down from a peak of $1,163 in February, the month before the coronavirus was declared a pandemic. Redfin analyzed median monthly mortgage payments based on each month's median list price and average mortgage rate by month, both nationally and for the 50 most populous metros in the U.S., excluding December. The median list price nationwide was $336,000 in November, the highest median price on r...
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