Mortgage Rates Post Temporary Drop Offering slight relief to home buyers this week, the 30-year fixed-rate mortgage fell to a 3.09% average. But rates may rise again soon. Housing analysts largely expect mortgage rates to increase in the following months due to the Federal Reserve’s announcement this week that it will slowly reduce its monthly …
Category: News
Nov 08
Pets Influence the Choice to Move
Pets Influence the Choice to Move More homeowners have become pet owners since the pandemic, and homeowners are showing a willingness to move for their pet. In fact, 43% of pet owners say they’d be willing to move to accommodate their pet, according to the National Association of REALTORS®. What’s more, 68% of pet …
Nov 08
Home Sale Profit Margins Hit 10-Year High
Home Sale Profit Margins Hit 10-Year High Home sellers continue to get richer as prices rise. Profit margins on median-priced single-family home and condo sales climbed to 47.6%, which marks the highest level in a decade. The typical home sale nationwide during the third quarter generated a record-high profit of $100,178 as national median home …
Nov 03
Millennials to Keep Housing Strong for Years to Come
Millennials to Keep Housing Strong for Years to Come Expanding wealth and growing families are prompting more millennials to become homeowners. Ultra-low mortgage rates are continuing to attract them as well. Young adults ranging from 26 to 41 years old comprise about 22% of the U.S. population. It’s why the housing market has been …
Nov 02
What First-Time, Repeat Buyers Fear Most
What First-Time, Repeat Buyers Fear Most The homebuying process can be scary for first-time and move-up buyers alike. Slightly more than half of Americans say they feel anxious thinking about the process of purchasing a property, according to a new survey from Ally Home. In fact, many consumers are more afraid of purchasing a …
Nov 02
Consumers Will Take a Haunted House—at a Discount
Consumers Will Take a Haunted House—at a Discount In this hot market, many Americans are willing to overlook a few ghosts for the right home and list price. Nearly a third—or 30%—say they’d be willing to live with a “friendly” ghost, according to realtor.com®’s annual Halloween survey. Twenty percent say they would live in …
Nov 01
Buyers Are Temporarily Pausing Their Home Search
Buyers Are Temporarily Pausing Their Home Search While many home buyers are still eager, some may have taken a break from what’s been a red-hot, competitive housing market. The National Association of REALTORS®’ Pending Home Sales Index, a forward-looking indicator of home sales based on contract signings, decreased 2.3% in September from August, and pending …
Nov 01
Lumber Prices on Steep Incline Again
Lumber Prices on Steep Incline Again High lumber prices are returning, and home buyers should brace themselves for impact. The prices can have an effect on the cost of a new home as well as on decks and remodels. Lumber prices had been falling this summer, but that appears to have been short-lived. In …
Nov 01
Realize your dream of home ownership
Realize your dream of home ownership Thinking about upsizing or downsizing? With the help of myself and John Coneys of RoundPoint Mortgage, (NMLS# 183853 – 610.322.4886) we can explore homebuying options to help you meet your goals. #RealEstate #Realtor #HomePurchase #BuyersMarket #PlymouthMeetingRP
Oct 27
Markets Where Home Prices Are Surging Most
Markets Where Home Prices Are Surging Most Housing demand has been on fire amid the pandemic, and home prices have skyrocketed in response. Many markets have seen double-digit percentage price growth since the pandemic began. For example, in Rochester, N.Y., where home prices have been particularly volatile, the median sales price has surged by …
Oct 26
Permits for New Construction Are Surging
Permits for New Construction Are Surging Home building has ramped up over the last decade and notably accelerated sharply in 2020 during the pandemic, according to the National Association of Home Builders. Builders applied for 134% more single-family permits in 2020 compared to 2011. Permits are used as a gauge to measure future construction. …
Oct 26
Bidding Wars Hit Lowest Level of 2021
Bidding Wars Hit Lowest Level of 2021 Homes are still selling at a quick pace, but the number of bidding wars for individual listings is on the decline this fall. Only 58.9% of home offers faced competition in September, the lowest level for 2021 so far, according to a market index produced by Redfin …
