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Sales of newly built single-family homes dipped 12.8% in July, but homebuilders aren’t looking at the nosedive as bad news. So far this year, new-home sales are up 4.3% over last year, and builders say that’s progress. “Builder confidence continues to trend upward as lower interest rates provide for more favorable buying conditions,” says Greg Ugalde, chairman of the National Association of Home Builders.New-home sales dropped to a season
A meadow-inspired green is paint firm Behr’s top pick for the 2020 Color of the Year. Color forecasters expect the hue, called “Back to Nature,” to surface in more home interiors over the next year to bring a sense of the outdoors to the indoors.“As we look ahead to a new decade, Back To Nature encourages us to reengage with the natural world, which we know can have a real, positive impact on our well-being,” says Erika Woelfel, vice pr
The number of single-family rentals is growing, and landlords continue to accrue high profits from their investments. Single-family rents rose 2.9% year over year in June, according to CoreLogic’s Single-Family Rent Index, which measures rent changes among single-family rental homes, including condos.Phoenix continues to outpace many other large metros for single-family rent increases. Year-over-year rent growth in its single-family rental mark
The 30-year fixed-rate mortgage averaged 3.55% this week, the lowest average since November 2016, Freddie Mac reports. The lower mortgage rates are boding well for the housing market.“The drop in mortgage rates continues to stimulate the real estate market and the economy,” says Sam Khater, Freddie Mac’s chief economist. “Home purchase demand is up five percent from a year ago and has noticeably strengthened since the early summer months,
Young adults may need more resources for learning about mortgages and homeownership. More than half—55%—of young adults recently surveyed say that they’re lacking knowledge on homeownership and mortgages. That confusion has prevented them from becoming a homeowner, according to a new survey of 1,000 consumers between the ages of 23 and 38 conducted by LendEDU, a personal finance resource.Homeownership preparation is not typically
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On average, home buyers move only 15 miles from their current residence. But some metros offering affordability, strong employment, and large boomer populations may be enticing some Americans to move further away, a new study released Wednesday from realtor.com® shows.Realtor.com® researchers ranked metros on which areas received the most out-of-state views on realtor.com® during the second quarter of 2019. Among the areas topping the list las
The appeal of outdoor living continues to be important to homeowners, and the outdoor kitchen is at the center of that. The latest American Institute of Architects Home Design Trends Survey shows that outdoor kitchens are among the most wanted kitchen features in new architectural projects.Nearly 50% of the architect respondents surveyed reported the popularity of outdoor kitchens is still growing. The popularity is seen in markets across the cou
Existing-home sales showed improvement in July, a welcome sign for what has been a mostly sluggish summer real estate market. Reversing course last month, sales climbed 2.5% over June, the National Association of REALTORS® reported Wednesday. The Northeast was the only major region of the U.S. to see sales decline in July. The bulk of sales growth was attributed to the West.“Falling mortgage rates are improving housing affordability and nudgin
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