“It should be easier for builders as rates go down, as they need to borrow to build,” said Lautz. High costs in the buying market have delayed homeownership for many buyers and kept inflation-strapped Record-high interest rates deterred more than 69% of renters from buying a home in 2023, a Zumper report Since many people cannot afford to buy a home, they are likely to consider renting a single-family home Renting over buying their first home Prices for single-family rentals are increasing faster than rent

And if you’ve recently overheard a work colleague talk about buying a house without a real estate agent Yes, you can buy a house without an agent, but for buyers, a good agent can make all the difference — , handling everything from finding available homes and arranging viewings to advising on first-time buyer creative solutions to make your offer stand out, like unique clauses or programs that enhance your buying agents are adept at negotiating on your behalf, ensuring your interests are protected throughout the buying

since 1981 offers an in-depth analysis of home buying and selling trends over the past year. First-Time Home Buyers First-time buyers have reached a historical low, facing inventory shortages, high Median Age of Buyers The median age of home buyers is at an all-time high, as many save longer to buy Both first-time and repeat buyers are older on average, with some repeat buyers moving after retirement Families with Children Under 18 Buyers with children under 18 represent only 27% of recent buyers—a historic

Should You Build or Buy a Starter Home? many builders have made affordable new builds rare. affordable and available sooner, allowing buyers to start building equity immediately. Is Buying a Starter Home Worth It? Buying now allows you to start building equity, but it’s essential to ensure financial readiness to make

dream of homeownership, here’s some information you may find helpful on why and where your peers are buying home: “Of those surveyed, 34% said that starting or growing their family was their main motivation to buy That’s because buying a home allows you to stabilize what’s typically your biggest monthly expense: your If those reasons have you feeling ready to buy, here’s some information on where your peers are finding boost their buying power and offset the challenges that come with today’s mortgage rates.

. © onurdongel - iStock/Getty Images Plus Home buyers appear willing to sacrifice property size to afford Twenty-six percent of builders say they plan to build even smaller in 2024, the research shows. Nearly 40% of home buyers say they’re willing to buy a home with a smaller lot while 35% say they’d buy Buyers are prioritizing other key features around the home. most likely to include in a newly built home in 2024.

KEY POINTS One-quarter of American ultra-high-net individuals plan to buy a home this year, according The ultrawealthy are looking for a better lifestyle and strong investment when it comes to buying their One-quarter of American ultra-high-net individuals, or those worth $30 million or more, plan to buy a Still, $1 million doesn’t buy what it used to in the U.S. and abroad. How many average square feet of real estate does $1 million buy you in these cities?

However, only 3 in 10 Veterans are aware they may be able to buy a home without a down payment. experts who can guide you through the process and help you make informed decisions about your home-buying

buyers. Builders Shift to Smaller Homes During the pandemic, many buyers sought larger homes for remote work, Newly Built Homes Can Meet Your Homebuying Goals If affordability is a concern, considering newly built Builders are offering incentives, such as price reductions and mortgage rate buy-downs, that can make Recent data shows that more than half of builders are offering such perks.

Whether you’re buying or selling a home, understanding these updates is crucial for navigating the market For Home Sellers Compensation Choices : You can still offer compensation to buyer brokers if you choose Negotiability : While you can offer buyer concessions and advertise them on the MLS, you should discuss These updates will take effect on August 17, providing you with new guidelines for how to approach buying

home prices would drop by as much as 10-20% — and that might have made you feel a bit unsure about buying For starters, there aren’t enough available homes to meet buyer demand right now. So, if you’re financially stable and prepared for the costs and expenses of homeownership, buying a home

Source: keepingcurrentmatters.com Are you planning to buy a home this spring? So, when you find the home you want to buy, remember these four tips to make your best offer. 1. They will be a critical part of your home buying process.” Agents are local market experts. They know what’s worked for other buyers in your area and what sellers may be looking for in an offer Bottom Line When you buy a home this spring, work with a real estate advisor to make your best offer.