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. …
Tag: News
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
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
Philadelphia, PA Home – 2723 E. Country Club Rd. Philadelphia, PA. 19131 (wynnefield heights)
$235,000 Est. Mortgage $1,147/mo*3 Beds2 Baths1412 Sq. Ft. Description about this home for sale at 2723 E. Country Club Rd. Philadelphia, PA. 19131 (wynnefield heights) Welcome to Wynnefield Heights… talk about LOCATION, this is a beautiful tree-lined street with a park-like setting! This is the perfect home for someone who wants to take the time …
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 …
Mar 08
Office Occupancy Is Increasing
Office Occupancy Is Increasing Employees are headed back to the office. After the pandemic caused many companies to encourage work-from-home policies for office workers, real estate indicators signal a reversal. As they return, companies want more space. As of February, office occupancy continued to increase, with 84% of 390 metro areas seeing a rise, according …
Mar 08
High Heating Bills Stun Homeowners
High Heating Bills Stun Homeowners Heating bills this winter have left many homeowners in sticker shock. The rising cost of fuel has made heating bills jump by from 5% to 50% this winter—a warning that federal agencies made last fall. Still, in some regions, heating bills are higher than forecasters anticipated. Money Magazine spoke to …
Mar 07
Rates Drop Amid Russia-Ukraine Conflict
Rates Drop Amid Russia-Ukraine Conflict Mortgage rates fell again this week amid Russia’s invasion of Ukraine, sparking uncertainty across the globe including in U.S. markets. The 30-year fixed-rate mortgage dropped to a 3.76% average this week, Freddie Mac reports. “Geopolitical tensions caused U.S. Treasury yields to recede this week as investors moved to the safety …
