(Don’t ignore the stories and articles from past years or from my 2021 Real Estate News posts – many stories from last year are applicable this year as well.)
Housing market is cooling as an estimated 25% of home listings cut their asking prices: ‘We’re shifting from a real buying frenzy to much more normal conditions’ – https://www.marketwatch.com/story/housing-market-cools-as-an-estimated-25-of-home-listings-cut-their-asking-prices-were-shifting-from-a-real-buying-frenzy-to-much-more-normal-conditions-11655230463
How the Fed’s rate hike will affect the housing market – Cool down and less volatile market
I’m the chief economist for the National Association of Realtors. Here are 6 things to know about the housing market now
Citing a five-month decline in pending home sales, as well as a drop in newly constructed single-family sales, Yun predicts the higher mortgage rates will slow the housing market.
your average monthly housing costs for the typical Georgia home would be $2,214 in 2022.
How much do you need to make to afford a house in Georgia this year? If you are spending the average 19% of your annual income on your home, then your annual household income would need to be around $139,831. According to a common financial adage, you can spend up to 30% of your income on housing. At that rate, you’d need an annual household income of about $90,000 to afford that same home. If you can afford to put more than 6% of your home’s value down as a down payment, it will help decrease your monthly costs considerably. Many home buyers try to put down 20% of their home’s value. Speak with a trusted financial advisor before making any major moves in the modern housing market.
Real estate agents got $3.9 billion in Covid relief PPP loans. The housing market boomed, but few repaid the loans.
Realogy Unveils New Name: ‘Anywhere’ – It includes Cartus, an employee relocation service; and major U.S. real estate names, such as Better Homes and Gardens Real Estate, CENTURY 21, Coldwell Banker, Coldwell Banker Commercial, Corcoran, ERA, Ziprealty, and Sotheby’s International Realty.
Citigroup recently published a report projecting the metaverse to have a $13 trillion total addressable market made up of 5 billion people by the year 2030.
The Weird Reason You Confide More in a Real Estate Agent Than Your Therapist—or Even Your Best Friend
‘It’s possible we may see another increase soon.’ 5 economists and real estate pros predict what mortgage rates will look like the rest of 2022
LexisNexis Risk Solutions True Cost of Fraud Study: Real Estate Report Reveals Every $1 of Fraud Costs Depository Originators $5.34
Higher interest rates make it harder to afford a property as the cost of borrowing becomes more expensive. Still, Presti doesn’t expect that to affect prices at least in the near team because of the inventory levels.
While the sky may be the limit for a real estate professional’s salary, most agents don’t make six figures, however. The median annual earnings for a real estate sales agent were $48,340 in May 2021, according to the U.S. Bureau of Labor Statistics.
Leaks, termites, and cracked foundations: Skipping home inspections in a competitive market is tempting — and risky
Need an all-cash offer to win a bidding war? These 6 startups can help you buy your dream home. Juat be prepare to pay hefty fees to do any of this…there is NO FREE LUNCH.
“The housing market is starting to feel the impact of sharply rising mortgage rates and higher inflation taking a hit on purchasing power,” said Lawrence Yun, NAR’s chief economist. “Still, homes are selling rapidly, and home price gains remain in the double-digits.”
Still a low inventory of homes: With slower demand, the inventory of unsold existing homes increased to 950,000 as of the end of March. That would support 2.0 months at the monthly sales pace.