We’re still in the midst of the COVID-19 pandemic, and even as some state reopenings stall or roll back, most consider real estate as an essential service. But what do your customers consider essential to their homebuying or homeselling goals? The most effective way to find out is to look at what your clients are complaining about in your industry, and then create the opposite customer experience. Here are three aspects of your job that are mos
The pandemic has prompted many homeowners to take on updates and renovations projects. More than three-quarters of about 1,000 homeowners surveyed this month say they have carried out at least one home improvement project since the start of the COVID-19 outbreak, according to a new survey from Porch.com, a home remodeling website.What’s more, homeowners have spent a median of $17,140 on improving their homes since the pandemic began, with
Mortgage applications have been on the rise in the last few weeks, and a housing report from the National Association of REALTORS® on Wednesday finally saw that translate into higher sales—in a big way. NAR reported that existing-home sales surged to a record pace in June, increasing nearly 21% compared to May.For the ninth consecutive week, mortgage applications posted annual gains, and those increases are widening too. This signals that
Existing-home sales rebounded at a record pace in June, following three consecutive months of sales declines, the National Association of REALTORS® reported on Wednesday. Each of the four major regions of the U.S. posted month-over-month increases in June, with the West posting the largest jump.Total existing-home sales—completed transactions that include single-family homes, townhomes, condos, and co-ops—increased 20.7% from May to a season
Landlords are finding little room to raise rents on single-family homes. Single-family rents increased 1.7% annually in May nationwide, their slowest rate in nearly a decade, according to a new report released by CoreLogic, a real estate research data firm.Single-family rentals comprise 35% of all rental housing in the U.S.Prior to the pandemic in February, rent growth for single-family homes was at its highest pace in four years.“Single-family
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What’s cooking in kitchen design in 2020? White kitchens, granite, and modern designs still reign supreme, according to a new study of 500,000 Instagram posts in the U.S., conducted by Wren Kitchens.Instagram has emerged as a popular place to share home design pictures and offers insights into trends based on the most Insta-worthy kitchen styles, features, and colors, according to Wren Kitchens.Overall, the modern kitchen style,
Foreclosure filings—including default notices, scheduled auctions, or bank repossessions—dropped 44% in the first six months of 2020 from the same time period a year ago. They are also at a record low, despite the global pandemic and skyrocketing unemployment, ATTOM Data Solutions reports in its Midyear 2020 U.S. Foreclosure Market Report.A total of 165,530 U.S. properties received a foreclosure filing in the first six months of this year.But
Some home buyers are feeling confident enough to proceed with a home purchase after a virtual tour. The latest sight unseen mega-deal occurred last week for a private island off the coast of Ireland. An anonymous European buyer purchased the entire 157-acre island, known as Horse Island, for more than $6.3 million without ever seeing it in person. Negotiations mostly took place over WhatsApp. The agent said the buyer viewed a video of the island
More buyers were out shopping for new homes last month. Single-family housing starts rose 17.2% in June to a seasonally adjusted annual rate of 831,000, the U.S. Commerce Department reports. The multifamily sector—which includes apartment buildings and condos—increased 17.5% last month.“The housing market is hot,” says Lawrence Yun, chief economist for the National Association of REALTORS®. “Home buyers have swiftly moved into the mark
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