Forty-two percent of homes sold in February were listed for less than a month across the country, according to the latest data release from the National Association of REALTORS®. Properties, on average, stayed on the market for 45 days last month, down significantly from a year ago when the nationwide average stood at 59 days.Some hot markets—notably in California—are seeing homes sell much faster than the national average.The metro areas wh
Sure, bedrooms and bathrooms are the two largest factors that can affect apartment rent. But a new study also finds several amenities that renters are willing to pay more of a premium to get.A study by RentHop, an apartment search website, finds that some of the amenities that have the greatest impact on price in the 10 largest metro areas are: an elevator, doorman, in-unit washer and dryer, fitness center, “pets allowed” policy, and dedicate
The internet may have entered more aspects of a real estate transaction over the past decade, but consumers haven’t abandoned their desire for a real estate professional’s assistance, according to Steve Murray, president of the consulting firm Real Trends, who has been tracking for 40 years how real estate agents conduct their jobs. In fact, consumers are willing to pay even more for real estate agents’ services. The average real estate com
The number of homes for sale is at the lowest level on record, according to the National Association of REALTORS®, who began tracking inventory 18 years ago. That means many home buyers likely will find fewer options this spring, and the homes that are being listed tend to sell fast and at a premium.The lack of new-home supply is one culprit. Housing starts are only at about 75 percent of their historical average. Builders are focusing on pricie
What should a broker do for an agent who wants to list and sell higher-priced homes?Key Takeaways Agents ought to pursue bigger and better “next level” listings with confidence and zeal. At the same time, they should make sure to market and sell their “current-level” listings with better attention and focus. Brokers must support this ambition and offer personal attention to help secure better listings.In this monthly column, Anthony Askow
The county offering the highest returns from single-family rental properties so far in 2017: Clayton, Ga., in the Atlanta metro area. That’s according to the first-quarter 2017 Single Family Rental Market report, released by ATTOM Data Solutions. Researchers analyzed single-family returns in 375 U.S. counties, each with populations of at least 100,000, and more than 6,000 U.S. ZIP codes with a population of 2,500 or more.Other counties offering
Fifty-two of the 100 largest U.S. cities were majority renter in 2015, according to U.S. Census Bureau data. Since 2009, 21 cities had shifted to renter-rule. Renters now dominate in both hot housing markets such as Denver and San Diego and more tame markets like Detroit and Baltimore.The homeownership rate has fallen steadily for a decade as millions of foreclosures prompted more owners to rent. Renting likely will continue to rise through 2030,
Sales of newly built single-family homes posted a robust month in February. New-home sales rose to a seasonally adjusted annual rate of 592,000 units, up 6.1 percent month over month and 12.8 percent ahead of last year, the Commerce Department reported this week."February's increase in new home sales is consistent with builders' growing confidence in the housing market," says Granger MacDonald, chairman of the National Association of Home Builder
Booming tech sectors and real estate often bond tightly. While the Bay Area continues to be the nation’s most robust tech center, tech-driven areas are popping up elsewhere across the U.S.Indeed, more than two-thirds of tech workers now feel little or no need to live in the Bay Area, according to a recent article at Forbes.com. Instead, they’re finding opportunities in the Northeast, South, or Midwest, where home prices tend to be cheaper as
The necessity for thorough communication and follow-up is crucial during any real estate transaction, but maybe never more so than during an out-of-state or international relocation.The folks at Century 21 Blackwell & Company Realty Inc., in the upstate area of South Carolina, know a thing or two about relocation. Their area includes a tech and manufacturing hub featuring companies such as GE, 3M, Honeywell, Lockheed Martin, Michelin, and oth
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