National Association of REALTORS® members learned about HUD’s top priorities, security protocols both on and offline, and new loan options for military veterans as the 2018 REALTORS® Legislative Meetings & Trade Expo continued Wednesday.In a conversation with NAR First Vice President Vince Malta during the General Session, HUD Secretary Ben Carson said the public needs more education about what constitutes sexual harassment.HUD Seeks End
Generations of retirees are showing a shift in housing priorities. John Burns Real Estate Consulting recently compared nearly 3,000 registered new-home shoppers born in the 1940s to more than 5,200 new-home shoppers born in the 1950s to uncover some of those shifting trends.For one, younger retirees are showing more preference to live near dog parks. The 1950s generation surveyed rated a dog park as their top retiree amenity, which replaces golf
The chief reasons homeowners undergo a remodel are because they desire better and newer amenities or they feel compelled to repair or replace old components in their home, according to the National Association of Home Builders’ Remodeling Market Index. These two reasons have tended to drive most remodels in recent years, but other reasons are growing in popularity among homeowners.Notably, three reasons to remodel are on the upswing: a “desir
The number of vacant homes in the U.S. surged during the Great Recession. Many cities recovered and fewer homes are standing empty, but not everywhere. The number of homes that have been abandoned has risen 2.1 million nationally in recent years, and vacant properties continue to be a drag on former industrial epicenters or the nation’s “legacy” cities, according to a newly released report. These are properties that are sitting unused and a
The Great Recession still has a lasting impact on how many consumers shop for homes today, builders say. Even consumers who did not lose a home to foreclosure during the housing crisis are still shopping for homes more cautiously than they did during the early 2000s and the height of the housing boom.“Buyers became more cautious in the homebuying process,” says Dennis Webb of Fulton Homes. “If they were not directly affected, then they cer
Before buyers make an offer, they’ll want to be clear on what stays and what goes with the house, as well as what’s up for negotiation.In general, buyers keep anything permanently attached to the house. However, in some markets, there can be a gray area when it comes to appliances and custom-built pieces.“People usually put riders in the contract to lay out who gets what, and a buyer should make sure their attorney helps with this negotiati
Some 9,000 REALTORS® and state and local association executives are convening in Washington, D.C., this week to promote key policy issues that affect the real estate industry and their markets. At the REALTORS® Legislative Meetings & Trade Expo, which runs from May 14-19, members will meet with lawmakers and Trump administration officials to advance policies on a host of concerns, including housing inventory and affordability, the Nationa
A shortage of homes for sale and rising home prices are making it challenging for first-time buyers, in particular, this spring. For those who want to land a home, real estate professionals are urging them to move fast.The price of an existing home in March was about $250,000, up nearly 6 percent from a year ago, according to the National Association of REALTORS®. Homes are selling faster too, often under contract in about a month.“The starter
Single women are purchasing homes and condos at more than double the rate of single males. The trend is expected to keep growing, too.Last year, single women comprised 18 percent of all home purchases, while single men accounted for 7 percent, according to the National Association of REALTORS®. Single women are the second largest segment of home purchasers, behind married couples. Single women purchasers include never-married individuals, widows
The general housing market is not the only one facing a housing shortage and rising home prices. Several luxury markets are now seeing prices skyrocket too from the limited number of homes for sale. Reno, Nev., is seeing some of the fastest price growth in the U.S. in its luxury market, according to newly released realtor.com® data.In the Reno metro area, the average sales price of a luxury home has surged 53.3 percent in February compared to a
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