Russians Unloading Luxury Homes Across US Wealthy Russians across the country are reportedly trying to sell hundreds of millions of dollars worth of U.S. property, the New York Post reports. The sales are being triggered by Russia’s invasion of Ukraine and growing sanctions that could put some oligarch’s fortunes in doubt. The Post documents several …
Category: News
Mar 15
State-by-State Breakdown of Fourth-Quarter Equity Gains
State-by-State Breakdown of Fourth-Quarter Equity Gains Rising home prices have brought rising equity gains for homeowners. In the fourth quarter, the average homeowner nationwide gained about $55,300 in equity over the past year, according to a new analysis released by CoreLogic, its latest quarterly “Homeowner Equity Insights” report. Western state homeowners are continuing to see …
Mar 15
Mortgage Rates Rise to 3.85%
Mortgage Rates Rise to 3.85% Following two weeks of declines, mortgage rates edged up, and economists say that consumers should expect further increases over the coming weeks. The Federal Reserve will likely raise its short-term interest rates at its meeting next week. While the Fed’s benchmark rates do not have a direct effect on mortgage …
Mar 15
Soaring Housing Costs Contribute to Highest Inflation in 40 Years
Soaring Housing Costs Contribute to Highest Inflation in 40 Years Housing costs are one of the top three categories causing inflation in the U.S. to surge, the U.S. Department of Labor announced Thursday. The largest items in households’ budgets—shelter, gasoline, and food—were the main culprits in February that fueled the highest inflation rates since 1982. …
Mar 14
Pandemic Led Many to New Home Dreams
Pandemic Led Many to New Home Dreams Consumers continue to believe that homeownership is the American dream, and the pandemic may have provided consumers with more time to ponder what that dream would look like for them. Over a quarter of Americans—29%—say they have been more likely to think about pursuing their dreams since the …
Mar 14
Homes Worth $1 Million or More at Record High
Homes Worth $1 Million or More at Record High Higher home prices mean that more are valued above the $1 million mark. The number of homes that are $1 million or more has nearly doubled since before the pandemic began, according to a new study released by Redfin. Nationwide, 8.2% of homes—or 6 million—were valued …
Mar 11
Will Multigenerational Living Lose Traction?
Will Multigenerational Living Lose Traction? As home prices continue to rise, housing experts see an ongoing effort by extended family members to pool their money to combine households and save on costs. But data suggests that rising home prices do not correlate to multigenerational living, according to a new analysis from LendingTree. Some current multigenerational …
Mar 10
6K Homes Sold $100K or More Above Asking
6K Homes Sold $100K or More Above Asking Home buyers continue to drive up home prices in bidding wars, and some are willing to offer six figures above the asking price to beat the competition. In the U.S., 5,897 homes sold for at least $100,000 over the asking price at the beginning of this year. …
Mar 10
Novice Sellers
Novice Sellers With soaring home prices and high demand, homeowners are finding it a great time to sell. But some sellers—particularly first-timers—may be so caught up in the headlines about the rosy market that their expectations may become clouded. Real estate professionals shared with realtor.com® some of the mistakes of rookie home sellers in the current market: Unrealistic price expectations: …
Mar 10
Americans Fear Even Higher Rental Costs
Americans Fear Even Higher Rental Costs Rents have been climbing higher and higher, and Americans have felt it in their wallets. A record number of Americans say they expect rents will rise even more over the next year as well, according to a newly released Fannie Mae survey. Sixty-nine percent of respondents said rental prices …
Mar 09
Mortgage Rates Could Hamper Affordability
Mortgage Rates Could Hamper Affordability About 87.5 million households are unable to afford a median-priced new home, according to data from the National Association of Home Builders. If the new-home market prices were to rise by just $1,000, an additional 117,932 would be priced out. Mortgage rates also could further hamper household affordability. Many economists …
Mar 09
Jumbo Loans Reach 16-Year High
Jumbo Loans Reach 16-Year High Hoping to take advantage of mortgage rates that are still historically low, more Americans are pushing into higher mortgage levels to afford more expensive homes. Lenders reported that 2021 marked the highest dollar volume in jumbo loan originations since 2005. Jumbo loans are mortgages that exceed the loan limits of Fannie …
