WeChat is China's most popular app, and U.S. agents should check it outLOS ANGELES — The number of international buyers of U.S. properties has grown in recent years — up to a record 284,455 residences sold for $153 billion in total between March 2016 and 2017, according to a recent report from NAR.And the largest chunk of that spending came from Chinese buyers, who paid a whopping $31.7 billion for U.S. residences. Clearly, luxury listing
Following three consecutive months of declines, existing-home sales ticked up in September from the previous month—but ongoing inventory shortages, coupled with recent hurricanes, muted any annual gains, the National Association of REALTORS® reported Friday.Total existing-home sales, which include single-family homes, townhomes, condos, and co-ops, increased 0.7 percent to a seasonally adjusted annual rate of 5.39 million in September, 1.5 per
Home buyers in different regions of the U.S. pay vastly different prices per square foot. The median price per square foot on a new single-family home ranges from $81 to $150 across the country, with the highest being in New England, according to a National Association of Home Builders analysis. The Pacific Division of the country has the second highest median price, at $138 per square foot. On the other hand, the lowest median prices can be foun
Twenty-one percent of the nation’s population now resides in communities governed by an association, which includes planned communities, homeowners and condo associations, or housing cooperatives, according to the National and State Statistical Review for 2016 Community Association Data. The report was published by the Foundation for Community Association Research.Read more: How to Spot a Bad HOAThe study, conducted by the Community Associati
The preferences of baby boomers and millennials are reshaping multifamily homes in urban areas, but the two generations don’t always agree on what they want in a home, posing challenges for developers who are striving to meet both groups’ needs. Buyers from both generations are sparking greater demand for condos, as baby boomers downsize and millennials look to purchase a starter property.Overall, both generations show a greater desire for sm
Borrowers may be able to lock in lower interest rates this week, as the 30-year fixed-rate mortgage dips to a 3.88 percent average.“Rates came down slightly this week, ending a brief two-week streak of increases,” says Sean Becketti, Freddie Mac’s chief economist. “The 10-year Treasury yield dipped 6 basis points, while the 30-year fixed mortgage rate fell 3 basis points to 3.88 percent.”Freddie Mac reports the following national aver
About 100 cities across the country have submitted their final bids to be the home of Amazon’s second headquarters, known as HQ2, as municipal leaders argued for why their community is the best pick. However, it won’t be all good news for the metro Amazon ultimately selects in 2018, especially when it comes to housing. HQ2 will bring with it up to 50,000 new jobs, which will undoubtedly put greater upward pressure on already sky-high rents
Projections for next year’s housing market are already underway, as 2018 could be seeing significantly more home renovations and repairs taking place.A report released today from the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University predicts a growing momentum in 2018 for money spent on remodeling homes. The Leading Indicator of Remodeling Activity finds annual gains in home renovation spending will surge
Higher home prices and a tight supply of homes for sale may be the mantra nationwide. But certain markets are still offering lucrative options for investors.Real estate sales and auction company TenX released its top picks for investors and Texas had the most markets on its list, scoring three out of the top five. Texas continues to post strong growth in employment and home construction. San Antonio topped TenX’s list for best places for inves
Fewer new homes are in the works, and economists say recent hurricanes that struck the South brought down the latest numbers.Housing starts dropped 4.7 percent in September to a seasonally adjusted annual rate of 1.13 million units, the Commerce Department reported this week. Broken out, single-family production fell 4.6 percent month over month to 829,000 units, with the bulk of the decline occurring in the hurricane-ravaged South. The South pos
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