On Sunday night, President Donald Trump signed a $900 billion COVID relief package that authorizes rental assistance, stimulus checks to individuals for $600, loans for struggling small businesses, and more.The president had delayed signing the bill for several days after Congress approved the relief package early last week. Trump had disagreed with extra unrelated COVID relief spending measures contained in the bill and had urged more money than
New-home sales decreased from October to November as high buyer demand and several building headwinds continued to press on builders’ ability to catch up. Sales of newly built single-family homes dropped 11% in November compared to the previous month, according to the latest new-home sales data released by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.Despite the monthly dip, new-home sales are still 20.8% high
The pandemic is accelerating a multigenerational household trend: Family members are bringing their older relatives into their household, young adults are moving back home, and families are pooling their financial resources due to a job loss or as a way to conserve money and accommodate more members of their family.Housing experts believe the multigenerational trend will last for some time—and may be here to stay.About 16% of buyers have opted
As the pandemic wears on, more homeowners are looking to spruce up their nests by searching for home design inspiration online.Houzz, a home remodeling and design resource site, recently analyzed the most popular home design searches of the year to determine the most popular trends during the pandemic began. The two standout trends relate to the outdoors and creating cozy getaways at home.Looking at searches from May to July, Houzz found that use
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More Americans are taking out mortgages this year, the level of which is on pace to top that of the housing boom in the 2000s. And borrowers are saving hundreds of dollars per month by locking in the lowest mortgage rates in history.In the first nine months of 2020, lenders issued $2.8 trillion in mortgage loans, according to Inside Mortgage Finance. As mortgage rates continue to break record lows, homeowners and buyers are rushing
Of all the grocery stores homeowners could live near, those close to a Trader Joe’s tend to have a higher home value than owners near other stores, according to ATTOM Data Solutions’ 2020 Grocery Store Wars. The study factored in current average home values, 5-year home price appreciation from 2015 to 2020, current average home equity, home seller profits, and home flipping rates.Homes near a Trader Joe’s have an average value of $644,
Multi-zone kitchens, upgraded lighting, and oversized rectangle tiles are among the trends sweeping home design in the new year, according to home design website Houzz. The online resource recently released the following 10 trends it expects to get hotter in 2021.1. The multi-zone kitchen. Kitchens traditionally use a three-zone “work triangle” setup with a connection between the fridge, sink, and range, Houzz notes. More homeowners
Some real estate pros are having their best year ever for home sales, despite the pandemic. Existing-home sales in November climbed 25.8% compared to last year, the National Association of REALTORS® reported Tuesday.Existing-home sales—completed transactions on single-family homes, townhomes, condos, and co-ops—did dip down by 2.5% in November compared to October’s unseasonably high levels, however. The slight decrease last month ended a f
Housing providers can breathe a sigh of relief. After months of political gridlock, Congress passed a series of measures Monday night to provide financial relief for Americans struggling during the COVID-19 pandemic. Among the provisions benefiting real estate: $25 billion in rental assistance to states and clarification that business owners can deduct business expenses on their federal tax returns that were paid using a forgivable Paycheck Prote
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