Homeowners who opt to downsize into a smaller place say that saving money was their chief motivator, along with having to manage less space after the children have moved out. But some homebuyers could have downsizing regret as they transition into a smaller home.Homes.com surveyed more than 1,000 consumers who have downsized their homes. They found that those who downsized did tend to spend 62% less than the house they owned prior. However, many
The 30-year fixed-rate mortgage averaged 3.64% this week, the lowest level in thirteen weeks. Sam Khater, Freddie Mac’s chief economist, says rates dropped as investors sought the safety of the U.S. Treasury’s fixed-income markets in light of the U.S.’s escalating turmoil with Iran. That said, “the drop in mortgage rates, combined with the strong labor market, should propel a continued rise in home buyer demand,” Khater says.Freddi
Americans are feeling upbeat about the housing market. More than half of Americans—or 63%—say now is a good time to buy a home, and 74% of sellers say now is a good time to sell, according to the fourth-quarter findings from the Homeownership Opportunities and Market Experience survey, conducted by the National Association of REALTORS®.Low mortgage rates and a belief that the economy is improving may be helping to ignite some momen
Make sure that kitchen island shines because home buyers may increasingly be sizing it up. Large islands are a prominent feature in kitchen design today, and most remodeling homeowners are putting high importance on this central kitchen spot.In a survey of nearly 2,600 homeowners conducted by Houzz, a home remodeling website, one-third of homeowners said they added an island during renovations and nearly a quarter of owners said they upgraded the
Fewer For Sale signs means less competition for selling homeowners who want to enter the housing market at the start of 2020. A new report from realtor.com® shows that housing inventories are at their lowest level since January 2018. Housing shortages haven’t appeared to cool home buyers’ desire to buy.Price growth is accelerating faster than national averages in markets with the largest inventory declines, realtor.com® reports. Inventory a
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Home staging can show off a home in its best light. Adding simple, updated decor can make a space feel warm and inviting. But there are a few popular trends in home design that stagers say you should avoid when prepping a home for sale:Too many mixed metalsMixed metals are a hot home trend, such as combining brushed nickel with matte black. It can add dimension and depth to your design. But don’t go overboard; some fixture finishes don’t look
Wildfire-prone areas in California are seeing home sales slow as insurers retreat from high-risk regions, The Wall Street Journal reports.Insurers paid more than $24 billion for California wildfire losses in 2017 and 2018. Now, they’re looking to cover their losses and are reportedly raising prices or declining to renew policies in some parts of the state.Potential buyers are backing out of purchases or lowering their offers after rea
More people are heading to Idaho than any other state, according to the newly released 2019 Atlas Van Lines Migration Patterns study. This marks the second year since 2017 that Idaho has ranked as the inbound leader for moves nationwide. Meanwhile, more residents are leaving New York, which had the highest number of outbound moves last year, the study shows.Overall, the company’s national moving data shows a decrease in domestic relocations fro
The cost per square foot of a home can vary drastically from place to place. On average, Americans pay $123, but in some cities, the price can top $1,000.“In general, price per square foot is higher in markets where there’s high demand but land is scarce due to underlying geographic constraints,” Robert Dietz, chief economist of the National Association of Home Builders, told realtor.com®. “Prices are also higher in markets with steeper
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