Buyers are walking away from new homes due to rising interest rates

Interest rates have been rising so fast that many buyers who signed contracts to purchase new homes in the last year have been caught off-guard. Mortgage rates were at record lows of 3% or even less in some cases last year. Yet, a series of sudden increases have sent mortgage rates to 5.3% as of

Read More »

President Biden outlines plan to tackle America’s housing shortage

The United States is struggling with a shortage of up to 5.5 million homes, experts say. The housing gap is so large that it would take more than 10 years to reduce, even if builders accelerate new home construction right away, the National Association of Realtors believes. So President Joe Biden’s new plan that calls

Read More »

College grads struggle with rising rental costs

College graduates say they’re struggling to get ahead due to soaring rental costs that are draining the bulk of their newly earned paychecks. The National Association of Collects and Employers’ most recent complete data shows that in 2020, the average starting salary for college grads was around $55,000, up more than 14% from ten years

Read More »

Demand for adjustable-rate mortgages hits 14-year high

Demand for mortgages is on the rise due to what analysts say is an increase in listings on the market and fear that interest rates will continue climbing higher. However, buyers are increasingly turning to adjustable-rate mortgages, or ARMs, as opposed to standard fixed-rate mortgages. ARMs have an advantage in that they offer lower initial

Read More »

In today’s hot market, not being able to sell is causing lots of embarassment

Reports frequently mention that homes in the U.S. are selling like hot cakes, going under contract within days, or even hours, of being listed, and often for way abve the asking price. But that’s not true for the homes that aren’t selling, and it’s reportedly causing some embarrassment – as well as surprise and anger

Read More »

Americans fear inflation will stop them from achieving homeownership

With inflation running at a 40 year high and the cost of everyday living and goods on the rise, it’s perhaps not surprising to learn that Americans have become increasingly concerned. They’re worried that their personal finances will suffer, and cause them to miss out on their long-term financial goals, which includes homeownership, a new

Read More »

Developers say ready-to-move-in turnkey homes are in vogue

Developers say that so-called “turnkey homes”, which are luxurious, fully-furnished and decorated homes that are ready to move in, are what an increasing number of home shoppers are looking for these days. The turnkey home trend is increasingly prevalent in states such as California and Hawaii and in many second-home resort communities, says a report

Read More »

Pets are influencing Americans’ home choices

More Americans have adopted pets since the COVID-19 pandemic emerged, and those furry friends are having a big impact on the kinds of homes they desire. Home buyers and renters alike are both prioritizing the needs of their pets when looking for a new place to live. According to a 2021 study by the National

Read More »

Home buyers in Sun Belt cities feel the heat of rising prices

Home prices are on the rise everywhere, but it seems that buyers in Sun Belt cities such as Phoenix, Tampa, Fla.; and Atlanta are having it harder than most as more people from out of town look to move there. Because those cities are popular destinations for people looking to relocate, home prices are not

Read More »

More than two-thirds of Americans say now is a bad time to buy a house

In one of the most unsurprising poll results seen this year, when a house is on the agenda, a record majority of Americans have indicated they believe now is most definitely not a good time to buy a home. Gallup’s annual Economy and Personal Finance poll found that just 30% of Americans currently believe now

Read More »

RealtyBizNews: Real Estate Marketing & Beyond