Rental demand surged in 2021, partly because many higher-income households turned to renting after unsuccessful searches in the for-sale market, according to America’s Rental Housing 2022, a report released by the Harvard Joint Center for Housing Studies. Those households have driven nearly 70% of total renter growth over the past decade. The growing number of amenity-rich rentals in desirable locations is attracting higher-income renters but a
U.S. commercial property sales soared in 2021 as investors snatched up warehouses, apartment buildings, resorts and hotels, and more, according to new data from Real Capital Analytics.Commercial property sales reached a record high of $809 billion in 2021, nearly double 2020’s total. It also pushed ahead of the previous record set in 2019 of $600 billion."Everything's lining up for another strong year," Carly Tripp, head of real estate investme
The top housing markets in the country spread across 14 states, reflecting Americans’ willingness to search far and wide for housing affordability. Realtor.com®’s latest rankings reflect the market demand and where homes sell the fastest.Manchester-Nashua, N.H., returned to the top spot in the December 2021 index. The area ranked as the hottest housing market eight times last year.“In recent months, [as] pricey Wes
Since the pandemic began, more homeowners have been adding plants inside their homes—a closer tie to the outdoors after being cooped up indoors more. Studies have suggested that the extra houseplants are making people better at their jobs and happier too.A recent study conducted by Cinch Home Services, a home warranty firm, found that people with five or more houseplants are more likely to indicate feeling satisfied with their jobs, productivit
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Florida shone as home to many of the hottest commercial markets in the country in the fourth quarter of 2021. The state boasts nine of the top 15 commercial real estate markets, according to the National Association of REALTORS®’ 2021 Q4 Commercial Real Estate Metro Market Reports.NAR’s Commercial Real Estate Market Conditions Index reflects market trends in the multifamily, office, industrial, retail, and hotel sectors in 390 metro are
The average dollar amount of a mortgage purchase application hit a record of $418,500 as higher home prices force buyers to borrow more, the Mortgage Bankers Association reported this week.“The continued rise in purchase loan application sizes is driven by high home price appreciation and the lack of housing inventory on the market—especially for entry-level homes,” says Joel Kan, vice president of economic and industry forecasters for the
Mortgage rates are on the rise in the new year, just like economists predicted. The 30-year fixed-rate mortgage, which is up 45 basis points in less than a month, averaged 3.56% this week compared to 3.11% in the last week of 2021.“Mortgage rates moved up again as the 10-year U.S. Treasury yield rose and financial markets adjusted to anticipated changes in monetary policy that will combat inflation,” says Sam Khater, Freddie Mac’s chief eco
Existing-home sales ended 2021 on a high note as home buyers rushed to buy a home to take advantage of ultra-low mortgage rates. Overall, sales were up 8.5% in 2021 compared to 2020, the National Association of REALTORS® reported Thursday. But the new year could bring about lower sales numbers as more buyers become priced out and find fewer and fewer choices of homes for sale.The signs of a slight slowdown are already popping up. In December 202
Property owners are charging more for their single-family rentals as demand soars. Single-family rental prices continue to rapidly increase with record growth, according to CoreLogic’s Single-Family Rent Index. In November 2021, single-family rent growth nationally rose 11.5% year-over-year.Annual rent price growth has continued to double—and even triple—in the last several months in some markets, according to the index.“Improvements in t
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