Home sellers continue to get richer as prices rise. Profit margins on median-priced single-family home and condo sales climbed to 47.6%, which marks the highest level in a decade.The typical home sale nationwide during the third quarter generated a record-high profit of $100,178 as national median home prices continued to rise, ATTOM Data Solutions, a real estate data firm, reports. That is up from $88,800 in the second quarter of this year. Prof
Of Americans who moved during the pandemic, 85% opted to move within their state, according to a new analysis from LendingTree, which evaluated mortgage loan data from March 1, 2020, to Sept. 21, 2021, to learn pandemic moving patterns.Texas had the highest percentage of residents looking to stay in the state. On the other hand, New York had the highest percentage of residents who left the state.The number one destination for out-of-state movers:
Many tenants are seeing steep increases in their rents, a reversal of the trend during the early phase of the pandemic as urbanites moved to suburbs and exurbs.As they return, they’re seeing that discounts on rents are not only quickly vanishing but surging, even for those who stayed, because of the high demand.“Renters who originally received pandemic pricing are now experiencing steep rent increases at renewal—sometimes upward of 40%,”
Asian American mortgage applicants are facing higher mortgage denial rates than White mortgage applicants, despite having higher credit scores and incomes, according to a new Urban Institute report.The denial rate for Asian American mortgage applicants is 8.7% compared to 6.7% of White mortgage applicants. The denial rates are higher for Asian American mortgage applicants across income levels, too.Asian American mortgage applicants tend to have h
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The COVID-19 pandemic has hit many sectors of commercial real estate hard. But the sector is bouncing back. Investors purchased a record amount of commercial real estate in the third quarter, The Wall Street Journal reports.But office buildings and shopping malls aren’t behind the boom, as they typically are. Instead, some of the biggest drivers in the commercial sector have been apartment buildings, life-science labs, and industrial
The first year of homeownership can be one of the most expensive years. After all, new homeowners are paying for the down payment, closing fees, and the costs of moving in, while outfitting their new home.SmartAsset evaluated data across the 20 largest cities to find which areas have the highest first-year housing costs. They factored in six metrics: median home value, down payment, average closing costs, monthly mortgage payment, property taxes,
In this hot market, many Americans are willing to overlook a few ghosts for the right home and list price. Nearly a third—or 30%—say they’d be willing to live with a “friendly” ghost, according to realtor.com®’s annual Halloween survey. Twenty percent say they would live in a home where a murder has taken place. “In today’s ultra-competitive housing market, buyers are looking for a break,” says Clare Trapasso, realtor.com®’s
It may be time to call Ghostbusters. Eighty-three percent Americans say they’ve experienced paranormal activity in their home. according to a new survey from Cinch Home Services, a home warranty company. The top three paranormal experiences are hearing sounds, lights turning on and off, and hearing voices. Older people are more likely to report paranormal experiences inside their home, the survey finds.Most respondents who indicate they’ve li
The homebuying process can be scary for first-time and move-up buyers alike. Slightly more than half of Americans say they feel anxious thinking about the process of purchasing a property, according to a new survey from Ally Home. In fact, many consumers are more afraid of purchasing a home than dealing with their fear of commitment (89%), filing their tax returns (82%), having a tooth pulled (78%), or overcoming their fear of heights (75%), the
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