Father’s Day, LendingTree is revisiting single-parent homeowners, focusing on single fathers. We analyzed housing data to show homeownership rates among men who live without a spouse in a household with children younger than 18. Metros with the highest homeownership rates among single dads Minneapolis Pittsburgh Cleveland Cincinnati  St. Louis Metros with the lowest homeownership rates among single dads Los Angeles San Jose Orlando San Diego New York  You can check out our full report here: https://www.lendingtree.com/home/mortgage/single-dads-study/ LendingTree's Senior Economist and report author, Jacob Channel, had this to say.  "Homeownership can bring with it more stability than renting and therefore can be seen as an especially appealing goal for single fathers. That said, single fathers should recognize that buying a house isn’t always the best idea, especially if doing so will leave you seriously cash-strapped or otherwise make it hard for you to make ends meet. Remember renting a house you…
Posted On Sunday, 16 June 2024 06:30 Written by
Have you ever experienced a particularly stressful period of time in your life? How do you best connect with clients and re-engage in your real estate business? Your Place of Strength When you have had an out-of-control period of your life, whether that be because of work, a huge project, family issues that demanded your attention, or even health issues, although getting your business up and moving again is one of your top priorities, I would encourage you to do that from a place of strength, not chaos. I first want you to choose an area of your house or office that is small, but that needs attention. It can be a sock drawer. Maybe it is your jewelry or makeup. Maybe it is your fridge. Maybe your car is driving you nuts. Whatever it is, take an hour or two and just start taking action by throwing stuff away,…
Posted On Sunday, 16 June 2024 00:00
The median asking rent climbed 0.8% year over year to $1,653 — just $47 below the record high. Washington, D.C., Cincinnati and Chicago all saw double-digit increases. The median U.S. asking rent rose 0.8% year over year in May to $1,653 — the highest level since October 2022, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. That’s the second consecutive increase (rents climbed 0.9% year over year in April) following 11 months of decreases. Rents rose 0.5% on a month-over-month basis. Apartment prices are closely tied to apartment supply. Multifamily construction surged during the pandemic moving frenzy, which pushed rent prices down because building owners were competing for tenants. While multifamily building starts have fallen below their 10-year historical average, there’s still a backlog of new units that are hitting the market every month, which is putting a lid on how much prices can grow.…
Posted On Saturday, 15 June 2024 06:17 Written by
The median U.S. home sale price hit a record high in May as demand continued to outpace supply, with the number of homes for sale roughly 25% below pre-pandemic levels Home sales fell 1.7% month over month in May on a seasonally adjusted basis and dropped 2.9% from a year earlier, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. There have been just two months in the past decade with fewer home sales: October 2023, when mortgage rates jumped to a 23-year high, and May 2020, when the onset of the pandemic brought the housing market to a halt and home sales to a record low. “Buyers today are facing many of the realities of a hot market even though few homes are changing hands,” said Redfin Senior Economist Elijah de la Campa. “Sales are sluggish because high homebuying costs are making both house hunters…
Posted On Friday, 14 June 2024 05:48 Written by
Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year fixed-rate mortgage (FRM) averaged 6.95 percent. “Mortgage rates continued to fall back this week as incoming data suggests the economy is cooling to a more sustainable level of growth,” said Sam Khater, Freddie Mac’s Chief Economist. “Top-line inflation numbers were flat but shelter inflation, which measures rent and homeownership costs, increased showing that housing affordability continues to be an ongoing impediment for buyers on the house hunt.” News Facts The 30-year FRM averaged 6.95 percent as of June 13, 2024, down from last week when it averaged 6.99 percent. A year ago at this time, the 30-year FRM averaged 6.69 percent. The 15-year FRM averaged 6.17 percent, down from last week when it averaged 6.29 percent. A year ago at this time, the 15-year FRM averaged 6.10 percent. The PMMS® is focused…
Posted On Thursday, 13 June 2024 12:41 Written by
Daily average mortgage rates dropped to their lowest level in three months on Wednesday, after the May CPI report showed that inflation is continuing to cool. That could bring back some demand; for now, home sales are still declining. The median U.S. home-sale price hit an all-time high of $394,000 during the four weeks ending June 9, up 4.4% year over year—the biggest increase in about three months. That’s according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. There are signs that home-price growth could ease soon. Asking prices have leveled off, and 6.5% of home sellers are cutting their asking price, on average, the highest share since November 2022. Prices are already declining in four U.S. metros: Austin, TX, Fort Worth, TX, San Antonio, TX and Portland, OR. Meanwhile, the typical homebuyer’s monthly housing payment dipped to $2,829, which is $30 below April’s record high.…
Posted On Thursday, 13 June 2024 06:04 Written by
If the answer is a resounding yes, you’re ready to list. If the answer is no, you’ll need to understand why it is a no and create a strategic plan of attack to create a yes. Realtors are often called upon to outline exactly what a seller may need to do to get their house ready to sell at top dollar. Do you know what to do to get your own house ready to list? Most sellers realize they are expected to do a few things to “spruce up” their home before they sell. Do you understand exactly what you need to do and why? This information is vital to understand to positively position your house to sell. This is just one part of the larger “total home transition”, but a critical part that will directly affect the list price, DOM (days on market) and ultimate sales price of your…
Posted On Thursday, 13 June 2024 00:00 Written by
More homes are sitting on the market for at least 30 days without going under contract, as homebuying demand falters in the face of high housing costs More than three in five (61.9%) homes that were on the market in May had been listed for at least 30 days without going under contract, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. That’s up from 60% one year earlier and roughly 50% two years earlier. The share of homes sitting on the market for at least one month has been increasing year over year since March, when growth in new listings accelerated but demand from buyers remained tepid, as it has been since mortgage rates started rising in 2022. More homes for sale paired with slow demand means that less-desirable listings are piling up, leaving some of them without a buyer. This is according to an…
Posted On Wednesday, 12 June 2024 06:46 Written by
Median asking rent fell -0.7% in May, with declines across all unit sizes and pockets of increases in certain Midwest and Northeast markets Rents dropped in May for the tenth consecutive month, though the pace of the decline has slowed since earlier this year, suggesting potential challenges for further reductions in overall inflation, according to the Realtor.com® Rental Report released today. This could potentially complicate the Fed’s policy decisions and also underscores the need for more housing construction, particularly in some markets where a lack of rental supply is contributing to higher prices. The median asking rent nationally for 0-2 bedroom units fell by -0.7% ($13) from May of last year to $1,732, and declined across all size categories. That’s just $24 (-1.4%) below its August 2022 peak. Median asking rents have risen by 21.5% over the past five years.  “Slowing rent growth preceded slower shelter inflation, and falling market…
Posted On Tuesday, 11 June 2024 06:44 Written by
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