In today’s real estate market, about one-third of available single-family homes are newly constructed, a significant increase from pre-pandemic levels. While the overall number of newly built homes per year remains steady, the shrinking inventory of existing homes has resulted in more buyers turning to new construction properties. Builders are now offering various incentives, such
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The housing market is booming, and homeowners are taking advantage of this opportunity to invest in their properties. While the pandemic-era frenzy of home renovations may have cooled off slightly, there are still plenty of opportunities to increase the value of your home. According to the 2024 Cost vs. Value report from Zonda Media, some
Chinese authorities recently announced new measures to support state-owned enterprises (SOEs) in buying unsold apartments, as part of their efforts to address issues in the real estate sector. This move is aimed at helping developers secure more funding to complete construction on pre-sold properties. The People’s Bank of China has pledged to provide 300 billion
Despite a recent drop in mortgage rates to the lowest level since April, buyers are still finding it challenging to afford homes in today’s housing market. The Mortgage Bankers Association reported that total mortgage application volume only increased by a mere 0.5% from the previous week. This indicates that demand for mortgages has not been
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.
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