News / Features
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It is not “first comes love, then comes marriage,” but for many women, “first comes homeownership,” according to First American Chief Economist Odeta Kushi.
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Lenders issued $1.06 trillion worth of mortgages in the fourth quarter of 2020 with refis contributing to the boost.
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“More jobs are very likely, due to the near certain passage of the $1.9 trillion stimulus package and from two million vaccinations per day,” National Association of Realtors chief economist Lawrence Yun said in a release.
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The stimulus bill includes aid for state and local governments, new homeowners, small businesses and renters.
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The House of Representatives has approved the Equality Act, which establishes legal safeguards to prevent discrimination in housing based on sexual orientation.
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The increase follows a decline earlier in February that cut the number of homeowners in forbearance plans to less than 2.7 million, the first dip below that threshold since April 2020.
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The National Association of Real Estate Brokers has joined the RE/MAX Strategic Alliances program to help grow homeownership among minority groups.
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The median sales price in the first month of 2021 was up 11.8% from January 2020 to $285,000, nearly matching the record high of $290,000 set last August.
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This German Catholic church and adjoining schoolhouse, built in the late 19th century, has been converted to a B&B, event hall and duplex — it even comes with its own fully functioning restaurant.
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Redfin homes on the market in Seattle faced bidding wars in January at a rate of 73.8%, up from 66.5% in December 2020.
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After declining for years, the size of new single-family homes has begun to level off as consumers spend more time at home, a National Association of Home Builders analysis found.
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NAR put together its “Snapshot of Race and Home Buying in America” report to study the hurdles that persistently block minorities from owning homes.
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The study dispels a long-held belief that nearby homes lose value once low-income housing is built in an area.
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“In the final months of 2020, single-family rents posted the highest increases in over four years,” said Molly Boesel, principal economist at CoreLogic. “However, single-family rent price reaction to the pandemic and resulting recession differed greatly across metros.”
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The top reason why long-time searchers have not purchased a home is because 40% say they were outbid.
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The report added that vacation homes and affordable homes in small towns near major urban centers were in strong demand as a result of the pandemic.