Constrained inventories are pushing up home prices at a rapid pace in nearly all major metro areas in the third quarter, the National Association of REALTORS® reported Thursday.The national median existing single-family home price in the third quarter was $254,000, up 5.3 percent from the median a year ago of $241,300.Single-family home prices rose in 92 percent of the 177 measured markets last quarter, NAR reported. Nineteen metros saw double-d
As more builders face labor shortages, they’re starting to look for new and faster ways to train more workers.For example, the Colorado Homebuilding Academy, a nonprofit organization, opened this year to offer a free eight-week “boot camp” to help increase the builder labor force. The course is founded and funded by Oakwood Homes, a homebuilder based in Denver that is owned by Berkshire Hathaway."Every single year, the labor situation has b
More Americans are flocking to southern states with Florida and Texas topping the list of where they’re most likely to move to, according to a new analysis by LendingTree. LendingTree looked at where residents in each state are looking to move by reviewing purchase mortgage loan requests for primary residents in all 50 states from October 2016 to October 2017.Florida is the number-one destination of movers in 18 of the 50 states, according to t
Homeowners should not become overconfident in a seller’s market, or they might end up sabotaging their sale. Realtor.com® recently featured common home seller negotiation tactics that can backfire, including:Starting a bidding war.“If mishandled, people may assume the worst, and the best offer may walk away,” Sep Niakan, broker-owner at HB Roswell Realty in Miami, told realtor.com®. For example, bidding war problems can surface when fai
Single women are making up a bigger share of sales. Single females comprised 18 percent of sales this year, which matches the highest share since 2011, according to the National Association of REALTORS®’ 2017 Profile of Home Buyers and Sellers.Single women were the second most common household buyer type, behind married couples at 65 percent.Single women tend to purchase slightly pricier homes than single men, despite earning less, according
Homeowners continue to delay moving, as the typical seller in 2017 had stayed in his or her home for 10 years before selling—a tie for the record tenure set in 2014, according to the National Association of REALTORS®’ 2017 Profile of Home Buyers and Sellers. Homeowner tenure has steadily increased since 2009, when sellers typically lived in their home for a median of six years before selling.Economists speculate that low inventory and soari
Children in Oregon may get the most treats this Halloween. Households in the state spend the most per person on Halloween sweets, according to shopping app Ibotta, which looked at candy purchases across the U.S. the week before Halloween in 2015 and 2016. Oregonians spend a whopping $40.29 per person on candy.The app ranked the following as the top states that spend the most per person on candy: Oregon Washington New Jersey Utah California New Y
Lennar Corp. and CalAtlantic Group, two of the country’s largest residential builders are merging to form America’s largest home builder in a $9.3 billion deal. The merger will cover around 240,000 building plots or home sites in 21 states, and the combined company will have about $18 billion in market capitalization.Lennar and CalAtlantic operate in 31 of the same markets nationwide. CalAtlantic, however, will bring new markets such as Salt
From the artwork to the odor, your listing may be inadvertently giving buyers the creeps. Realtor.com® recently interviewed real estate professionals about the items that have scared off their buyers the most during showings. Here are the top five spooks. Doors with too many locks. If the doors have more than the standard two locks, your buyer may wonder if something happened on the premises to make the seller feel unsafe, says Glenn Phillips,
Listing prices for residential homes remained near record highs in October, according to a preliminary analysis by realtor.com®. The median list price nationwide was $274,000, near the $275,000 record set in June.One point of relief for “market-fatigued buyers” who’ve faced low inventories for the past few years is that supplies of new listings are up slightly from a year ago, says Danielle Hale, realtor.com®’s chief economist. By the e
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