First-time home buyers are showing a strong desire for taking on remodeling projects. First-time buyer renovators in 2016 spent $33,800, on average, on their projects. That marks a 22 percent increase over 2015, according to the sixth annual Houzz & Home survey of more than 100,000 respondents in the U.S.“Younger and cash-constrained first-time buyers are responding to the low inventory of affordable homes by purchasing properties that requ
The Federal Reserve voted Wednesday to leave its benchmark interest rate alone, citing signs of a slowing economy between the January-to-March quarter. The benchmark rate will stay low, near 1 percent. However, the Fed cautions that it expects that a strengthening economy and job market in the coming months will justify a higher rate later this year.Mortgage rates aren’t directly tied to the Fed’s benchmark rate but are often influenced by th
After the recession, renters—particularly millennials—were flocking to urban areas, and as such, urban apartment construction surged to record-high levels. But now, a new study shows that's changing. Renters are now targeting the suburbs in greater numbers.From 2011 to 2015, suburban areas outpaced urban areas in renter household gains in 19 of the 20 largest U.S. metros. The suburbs of St. Louis, Atlanta, Boston, and Riverside, Calif., all g
Fewer companies are offering mortgage assistance as part of their relocation packages to employees, The Wall Street Journal reports.Just 4 percent of employers say they’re offering mortgage assistance to their relocating employees, according to a survey of 3,490 human resources professionals in January 2016 conducted by the Society for Human Resource Management. Just 3 percent say they offer down-payment assistance, while 8 percent offer reimbu
A new scam, circulating the internet on Wednesday, is masking itself as Google Docs as it tries to gain access to your contacts and address book. The reports were widespread Wednesday by those claiming they received an email asking them to open a document in Google Docs from one of their contacts. At surface level, the document doesn’t appear suspicious.If you click on the link, you’ll be taken to a Google login screen and you’ll continue t
Of all the architectural and lifestyle features buyers have an eye on these days, pet-friendly accommodations are coming up strong.A recent report from the National Association of REALTORS® says that 81% of consumers take their pets into account as they seek their living situations, and developers are even creating pet-friendly subdivisions and developments. Dogs are currently part of approximately 37% of American homes and cats are included in
Home buyers are returning to the mortgage market, undeterred by rising mortgage rates.Mortgage applications to buy a home, viewed as a gauge of future home-buying activity, climbed 4 percent last week on a seasonally adjusted basis. Purchase applications are now nearly 5 percent higher than a year ago, the Mortgage Bankers Association reported Wednesday.“More prospective home buyers returned to the market after two weeks of decreases in purchas
Homes with a good view fetch a premium, particularly among city dwellers. But how much more are they willing to pay for a home with a good view?Realtor.com®’s research team compared the prices of homes for sale on its site that highlight sought-after views and then compared those homes to similar-sized properties in adjacent ZIP codes that don’t make any special note of a great view. (Note: Many of the homes with the best views are in luxury
Which public builders are making the grade? BUILDER recently released its report card profile of 21 public companies, based on their sales for 2016.The BIG BUILDER Report Card compares the performance of public home builders and assigns them a letter grade based on that performance. Builders are graded in four major categories: financial, land, operations, and sales and marketing. The financial category carries the most weight at 40 percent of th
The pace of young adults leaving their parents’ homes is accelerating significantly, Fannie Mae’s Economic and Strategic Research Group notes in a new analysis.Young adults in their mid- to late 20s or early 30s living with their parents fell between 2013 and 2015—a period known as the economic recovery—much more so than between 2010 and 2012, when the economy and housing market were still recovering from the Great Recession, researchers
This website includes images sourced from third party websites including Adobe, Getty Images, and as otherwise noted.
