As of the first quarter of 2024, consumers are facing the challenge of putting down more money to purchase a home. The typical down payment amount has seen an increase, with the average being 13.6% and the median being $26,000. However, these figures are still below the peaks seen in the third quarter of 2023.
Real Estate
As the value of homes across America continues to rise, more and more people are finding themselves liable to pay capital gains taxes when selling their properties. However, experts believe that understanding how to calculate the profit from your home sale can help you reduce the amount you owe in taxes. Although most Americans are
Recent reports have shown a decline in the number of homeowners undertaking remodeling projects. This decrease in activity is reflected in key indicators such as the Leading Indicator of Remodeling Activity (LIRA) and the NAHB/Westlake Royal Remodeling Market Index (RMI). While the LIRA peaked at 17.3% in the third quarter of 2022, it has been
Some Americans are considering investing in the real estate market outside of the U.S. In fact, almost 40% of U.S. millionaires are planning to purchase a home overseas within the next 12 months. This desire to tap into international real estate markets is driven by various factors, including economic stability, diversification of investment portfolios, and
Recent data on mortgage rates revealed a slight decline after weeks of steady increases. The average interest rate for 30-year fixed-rate mortgages dropped to 7.18% from 7.29%, leading to renewed interest in refinancing. This decrease was attributed to the news of a slowing job market, wage growth stagnation, and the Federal Reserve’s plan to ease
The 30-year fixed-rate mortgage is a staple in the U.S. housing market, with most homebuyers opting for this option. However, the popularity and structure of this mortgage type may not be as common or easily accessible in other countries. In the following analysis, we will explore the reasons behind the uniqueness of the 30-year fixed-rate
The dream of owning a home is becoming increasingly unattainable for renters, as revealed in a recent New York Federal Reserve survey. The survey found that only 13.4% of renters as of February have hopes of being able to afford a home in the future, marking a significant drop from previous years. This pessimism is
When it comes to renting a place in a major city in Asia, the costs can vary significantly. According to data gathered in April from various sources, the median rental prices for 1-bedroom apartments across major cities in Asia were compiled. These rental prices were based on the median buying price per square meter in
With mortgage rates on the rise, consumers are seeking ways to reduce their monthly payments, leading to a surge in adjustable-rate mortgage (ARM) applications. The Mortgage Bankers Association reported that the share of ARM applications rose to 7.8% of mortgage demand, the highest level of the year. This shift marks a significant increase from when
Recent data from the S&P CoreLogic Case-Shiller national home price index indicates a significant increase in home values, with a 6.4% year-over-year jump in February. This surge follows a previous month’s gain of 6%, highlighting the fastest rate of price growth since November 2022. The 10-city composite experienced an 8% rise, up from 7.4% in