Buyers could be enticed back to the housing market in time for the spring buying season. That’s according to a new analysis from Zillow, which found that market conditions have rebounded in buyers’ favor over the course of the month. Rates are sitting at their lowest point since December 2024, while annual home value growth…
Inventory is doing best in cities with fewer mortgages and older homeowners, reinforcing the impact of high interest rates on the market. That’s according to a new report from Zillow, which found that metros where more homes are owned outright are seeing the fastest growth in new listings. Pittsburgh, Buffalo, and Cleveland have the highest…
By ERIN FLYNN JAY If you are looking for a home and don’t have 20% to put down, you are not alone. According to the National Association of Realtors, the typical down payment for first-time buyers is 8%. For repeat buyers, it’s 19%. And for 38% of first-time buyers, saving for a down payment was…
By ERIN FLYNN JAY In recent years, cities in warmer weather states have boasted the nation’s hottest housing markets but now the spotlight is on one of the snowiest places in the country. Last month, Zillow released its annual predictions for the hottest housing markets of 2024. Buffalo, NY, took spot number one based on…
Buffalo, NY, is slated to be the hottest market of 2024 as affordable metros gain popularity among money-minded Americans. Cincinnati and Columbus took numbers two and three on Zillow’s Hottest Markets of 2024 list, driving home the importance of savings for homebuyers this year. The list is made up of relatively low-cost cities, primarily in…
KeyBank and non-profit Operation HOPE have teamed up to empower underserved Americans who want to own homes, the companies announced in a press release. An Operation HOPE financial coach will be placed in KeyBank’s East Delavan branch in Buffalo, NY, to provide education and programming to anyone at no cost. “By joining forces with Keybank,…
By KIMBERLEY HAAS Programs that support ownership of multifamily properties are estimated to make up almost 30% of homebuyer assistance offerings and that may present unique opportunities in markets strapped for inventory. According to the Down Payment Resource’s Homeownership Program Index, 33 new programs supporting multifamily homebuyers and builders were added in Q4 2022. Multifamily…
By KIMBERLEY HAAS As the spring selling season begins, people in the mortgage and real estate industries are speculating on whether 2022 will be a year of growth or the start of the end for a red-hot market that has favored sellers and forced up the price of housing in many parts of the country….
Homes are less affordable than they were a year ago, but they largely remain more affordable than at the peak of the 2006 housing boom, according to First American Financial Corporation’s Real House Price Index. In January, the RHPI rose 27% from the year prior, making it the fastest-growing RHPI – and fastest YOY decline…
Average monthly asking rent in the U.S. leaped to new heights in February, up 15% year-over-year to a record high of $1,901, though mortgage growth outpaced it yet again, according to Redfin. Rent growth saw its largest annual increase since Redfin began tracking rental data in February 2019. Mortgage payments rose 31% YOY to $1,716,…
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