Prospective homebuyers are most interested in put-together homes that require few renovations in 2025. More than half of home shoppers said the condition of a home is the most important factor in their search, according to a new survey from Bright MLS based on responses from nearly 700 Americans. While 56% said a turn-key home…
By ERIN FLYNN JAY As mortgage rates rise heading into the holiday season, potential buyers are holding off on home purchases hoping for more favorable conditions in the new year. Officials at Freddie Mac reported Thursday that last week the 30-year fixed-rate mortgage averaged 6.72%, up from 6.54% the week prior. This is the fifth consecutive…
By ERIN FLYNN JAY With buyers already taking a “wait-and-see” approach due to high interest rates, low inventory, and an upcoming Presidential election, economists say another factor – the unemployment rate – could affect the housing market moving forward. “Higher unemployment can make individuals and families feel less secure about their personal financial situations, which…
Housing starts surged unexpectedly in September, suggesting some relief for homebuyers grappling with tight inventory. New U.S. home construction increased by 7% last month to an annualized rate of 1.36 million, resurfacing after an 11.3% drop in August, according to data from the U.S. Census Bureau. They rose in three of the four major regions,…
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