Are you putting off selling your house because you’re worried no one’s buying because of where mortgage rates are? If so, know this: the latest data shows plenty of buyers are still out there, and they’re purchasing homes today. Here’s the data to prove it.
The ShowingTime Showing Index is a measure of buyers touring homes. The graph below uses the latest numbers available and compares them to the same month in the last normal years to show just how active today’s buyers still are:
As you can see, when June 2023 numbers are stacked alongside what’s typical for the housing market at this time of year, it’s clear buyers are still active. And,... Read More
By: Leandra Beabout | Realtor Magazine
Infinitely recyclable glass is going mainstream in core building and design materials.
These days, you don’t have to look far to see upcycled glass. Caterers and restaurants use Mason jars for cocktails and lemonade. DIYers repurpose wine bottles into candle holders or melt them down to create coasters or spoon rests. Glass can also be recycled for large-scale home products like countertops, wall panels and sculptured art.
By some measures, glass is one of the most sustainable materials on the planet. According to the National Institutes of Health’s Chemical Waste Services(link is external) (CWS), it can be recycled infinitely without losing its purity or durability. That... Read More
REALTOR MAGAZINE By: Barbara Ballinger
Whether you use “workforce,” “attainable” or another term for it, housing that’s affordable to essential workers remains in short supply in many communities.
For years, the term “workforce housing” has defined a subset of affordable housing for those who earn between 60% and 120% of an area’s median income. Now, the term is losing favor.
Some feel it suggests that those who earn less than 60% of their AMI aren’t part of their area’s workforce. “The phrase has an unfair, exclusive characterization,” says Michael Liu, senior partner and design principal for The Architectural Team (TAT).
Miriam Axel-Lute, CEO and editor-in-chief of Shelterforce, a publication focused on... Read More
By Aarthi Swaminathan
The numbers: U.S. pending-home sales fell in May, the National Association of Realtors said on Thursday but the housing market is still showing signs of being in recovery mode.
Demand for homes is still strong, despite mortgage rates hovering near 7%, but buyers are finding few properties for-sale to choose from as homeowners hold out on selling.
The shortage in housing inventory has become so dire that it’s pushed pending home sales down in the spring, which is generally the peak season for home-buying.
Sales fell by 2.7% from the previous month, according to the monthly index released Thursday by the National Association of Realtors (NAR).
The figure fell short of... Read More
MARKETWATCH | By Taylor Getler
Overwhelmingly, home buyers view finding the right home as the hardest part of the buying process. There’s so much to consider: What can I afford? How much space do I need? And the most harrowing question of all — what am I willing to give up?
This question is even more loaded for LGBTQ+ buyers, who may face the added pressure of evaluating a new community for safety and comfort.
Social attitudes have dramatically shifted from the days where queer and transgender buyers were concentrated in just one or two neighborhoods, points out Barbara Stone, a Realtor in Dallas, Texas. Today, the community is made up... Read More
The average homeowner in the United States with a mortgage experienced a decline in home equity for the first time in over a decade.
According to CoreLogic, the average homeowner equity per borrower dropped by 1.9% in the first quarter of this year compared to the same period last year.
Despite the overall decline in home equity, the number of homeowners who were "underwater" on their mortgage, owing more than their homes are worth, remained relatively steady at 1.2 million homes or about 2.1% of properties with a mortgage.
For the first time in more than a decade, the average U.S. homeowner with a mortgage has less home equity... Read More
By Aarthi Swaminathan
The numbers: Home prices rose in March as sellers held out on listing their homes, constraining supply.
Despite elevated mortgage rates, the S&P CoreLogic Case-Shiller 20-city home-price index rose 0.5% in March, as compared with the previous month.
Home prices were strongest in the Southeast, while prices in the West continued to drag. Though buyer demand has outpaced supply in March, surging mortgage rates may dampen home sales. The rate for the 30-year mortgage in May is over 7%, according to Mortgage News Daily.
Year-over-year appreciation was down 1.1%, a dip after home prices rose 0.4% in February. The 20-city index peaked in June 2022.
A broader measure... Read More
The Spruce|By TAI MASSIMILIAN
Have you ever cleaned every inch of a room only to come back 10 minutes later and see a fine layer of dust settled everywhere? No, it's not your ineffective cleaning skills—the most likely culprit? Your ceiling fan. Ceiling fans are a great, low-cost way to keep your home cool during the summer months, but if they are not cleaned regularly, they can ruin all your hard work.
Picture this: your room is pristine and smelling fresh right after a good deep clean. You believe you covered every inch, but then, you switch on your ceiling fan, and the dust monster returns. If you are... Read More
There was a point, not too long ago, when buying a house was fairly straightforward: You’d schedule some tours, make an offer, and boom, you’re in the house before you know it.🏡
Today, though, the housing market is a very different animal—fast, ferocious, and ever-changing. In such an environment, it’s no longer a given that all homebuyers will easily find a house and seal the deal. And even more surprisingly, those lucky folks who do succeed aren’t just sitting on piles of cash. On the contrary, real estate agents and other experts we spoke to say that successful homebuyers today simply possess a particular mindset and behaviors that... Read More
One of the biggest missteps sellers make is pricing their home too high.
Starting too high can cause a downward spiral that looks a little like this:
⬇️ Buyers avoid setting up tours of your property
⬇️ Your home sits on the market for weeks with little to no activity
⬇️ Eventually, you’re forced to drop your price in desperation
Fortunately, you can avoid this scenario in three easy steps.
Contact us for a free home value assessment!
📩 email@example.com... Read More