Renters think the housing market is finally loosening up, fueling a sudden optimism among homebuyers

All year, the overwhelming sentiment in the housing market has been frustration. Too few homes for sale drove prices sky high and led to fierce competition among buyers, especially at the entry level. So it was a little bit more than surprising to see a sudden burst of optimism among potential homebuyers in a monthly […]

More Retirees Carry Mortgage Debt

Retiring baby boomers are less likely to be mortgage-free compared to people their age in previous generations, according to Fannie Mae. That could hurt boomers’ financial security and exacerbate the housing affordability crisis. Slightly less than 50 percent of the oldest baby boomer homeowners in 2015 were mortgage-free, 10 percentage points lower than the number […]

A Seller Giving a Counteroffer Over the Asking Price: Not Unheard Of

  SIphotography/iStock   Can a seller give a counteroffer over the asking price? Well, the short answer is yes. “Absolutely, the seller can counter your offer above the listing price,” says David Welch, a Realtor® in Winter Park, FL. “Whether or not the property will appraise is a different question.” That, of course, is one of […]

Porches Are Making a Comeback

More new homes are coming equipped with front porches. Sixty-five percent of new single-family homes started in 2016 included a porch, according to a Census data analysis from the National Association of Home Builders. It’s only the second time since tracking began that new single-family homes with porches have moved back above 65 percent. For […]

Lawmakers Target Seller-Financed Homes

Seller-financed deals are increasingly coming under scrutiny. The Consumer Financial Protection Bureau is investigating some larger investors using seller financing in real estate deals, accusing some investors of abusing the practice by evicting buyers for missing just a single payment or selling homes at the end of the agreements that are in complete disrepair. Legislators […]

The ‘Bonus Room’ Makes a Comeback

Home builders and designers say demand is increasing for more flexible living spaces, giving rise once again to “bonus” or “multipurpose” rooms, The Wall Street Journal reports. Such rooms offer extra square footage for owners to create a space that fits their lifestyle. Baby boomers, for example, are showing interest in bonus rooms that could […]

Pending Home Sales Underwhelm…Again

Hurricanes Harvey, Irma Could Stop Existing Sales Short of 2016 Pending home sales again underwhelmed in August, down 2.6 percent in the National Association of REALTORS® (NAR) Pending Home Sales Index (PHSI). The PHSI posted 106.3 in August, down from 109.1 in July. The Index is based on contract signings. “August was another month of […]

Pending home sales drop 2.6% in August; top Realtors economist warns housing market ‘stalled’

It is no longer a blip, but a trend. Home sales are weakening, and they are not expected to improve anytime soon. A monthly index measuring signed contracts to buy existing homes fell 2.6 percent in August compared to July. That is the fifth drop in the past six months and below expectations. The National […]

Stop sugarcoating the housing market: Economist warns that buyers face increasing troubles

From a broad view, the U.S. housing market looks very healthy. Demand is high, employment and wages are growing, and mortgage rates are low. But the nation’s housing market is assuredly unhealthy; in fact, it is increasingly mismatched with today’s buyers. While the big numbers don’t lie, they don’t tell the real truth about the […]

US new home sales fall to 8-month low in August

Sales of new U.S. single-family homes unexpectedly fell in August, hitting their lowest level in eight months, the latest indication that the housing market was slowing. The Commerce Department said on Tuesday new home sales decreased 3.4 percent to a seasonally adjusted annual rate of 560,000 units last month, which was the lowest level since […]