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Tracking The Habits Of First-Time Home Buyers

First-time home buyers have always been an important demographic when tracking the housing market's health. Whether or not younger Americans were buying homes, where they were buying, and in what numbers has been used to gauge trends and patterns that affect, not only first-time buyers, but everyone active in the real-estate market. Because of that, a new report from Genworth Financial analyzing first-time home buyer records back to 1994 is an important look at the who, what, where, and how of Americans buying their first home. Some of the highlights include the fact that first-time buyers...

June 16th, 2017 | housing market, Housing Outlook, New Home Buyer, Mortgage Rates, Housing Shortage, Tracking The Habits Of First-Time Home Buyers

The Top Things That Cause Home Buyers Stress

Home buyers have a lot to consider. Buying a home is no small transaction and the potential for stress is high. So what is the top thing stressing out home buyers these days? Well, it probably comes as no surprise that it involves money. According to a recent survey, the number one fear prospective buyers have is that they'll lose their earnest money deposit – which is money buyers put down on the house once their offer is accepted. If the deal goes through, that money is used as part of the buyer's down payment. But, if the buyer backs out of the deal, they risk losing that depo...

June 15th, 2017 | housing market, New Home Buyer, The Top Things That Cause Home Buyers Stress

More Americans Say It's A Good Time To Sell

For most of the past several years, Americans considered the housing market more favorable to buyers than sellers. Even as home prices began to rise from their post-crash bottom, mortgage rates remained near all-time lows and offered buyers in most markets an affordable path to homeownership. However, according to the most recent results of Fannie Mae's monthly Home Purchase Sentiment Index, the share of surveyed Americans who say now is a good time to sell a house has surpassed the number that say it's a good time to buy for only the second time in the history of the index. Doug Dunca...

June 13th, 2017 | housing market, Housing Outlook, Housing Shortage, More Americans Say It's A Good Time To Sell

The Size Of American Homes Continues To Grow

It shouldn't come as any surprise that American homes are generally getting bigger and adding more rooms. After all, who wouldn't choose to have an extra bedroom or some additional storage space? Still, a look at the numbers, shows just how much our living spaces have changed over the years. For example, numbers from the U.S. Census Bureau's 2016 Characteristics of New Housing show that the number of homes under 1,400 square feet has fallen 9 percent just since 2000. At the same time, the percentage of homes over 4,000-square feet has doubled. Sure, the majority of homes still fall...

June 7th, 2017 | housing market, Housing Outlook, Housing Shortage, New Home Buyer, The Size Of American Homes Continues To Grow

Why An Easy Commute Should Be On Your Wish List

If you're thinking of buying a home and are spending all of your time dreaming of the type of kitchen you want or how big you'd like your master suite to be, there may be a thing or two to add to your wish list before you start your search. For example, have you considered the importance of having a short commute to work each day? Almost 11 million Americans drive an hour or more to work each way and the average commute has been getting longer over the past several years. So, if you're lucky enough to have never sat in traffic after a long day at the office and don't know just ...

June 6th, 2017 | Housing Outlook, New Home Buyer, Why An Easy Commute Should Be On Your Wish List

What Pending Sales Numbers Mean For Buyers

The National Association of Realtors' Pending Home Sales Index is a good indication of where home sales will be a month or two down the road. That's because, it measures the number of signed contracts that occurred during the month, rather than the number of closings. And since there is typically about a month between having an offer accepted and closing the deal, the number of pending sales can be a pretty accurate predictor of future home sales numbers. According to the most recent release, pending sales were down 1.3 percent in April from the month before. Lawrence Yun, NAR's ch...

June 5th, 2017 | housing market, Housing Outlook, Mortgage Rates, New Home Buyer, What Pending Sales Numbers Mean For Buyers