Young Buyers Willing To Accept Higher Rates

Young Buyers Willing To Accept Higher Rates

Young homebuyers tolerate high mortgage rates better than their older counterparts. Gen Z and Millennial respondents to a new survey say they will accept rates as high as 6.3% and 6.2%, respectively, in order to buy a home in 2024. Gen X and Baby Boomers, in comparison, won’t accept any rate above 6%. The survey,…

Boomers Aging In Place Are Pushing Average Home Tenure Up
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Boomers Aging In Place Are Pushing Average Home Tenure Up

Older Americans are choosing to age in their current homes, driving average tenure up to more than a decade and keeping inventory tight for buyers. The typical homeowner spent 11.9 years in their current home, nearly double the 6.5-year average of two decades ago, according to a new report from Redfin. This isn’t the longest…

What Will Future Homebuyers Look Like?
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What Will Future Homebuyers Look Like?

By ERIN FLYNN JAY American homebuyers are getting older and industry leaders are preparing to welcome more Hispanic homeowners in the coming decades. According to the 2023 Home Buyers and Sellers Generational Trends Report by the National Association of Realtors, members of Gen X between 43 and 57 years old made up 24% of recent…

Mortgage Applications Sink To Lowest In 25 Years As Rates Creep Up
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Mortgage Applications Sink To Lowest In 25 Years As Rates Creep Up

As the average 30-year fixed-rate mortgage rate rose to 6.48% from 6.42% in the last week of 2022, mortgage applications sunk to a 25-year low, according to officials at Freddie Mac.  “Mortgage application activity sunk to a quarter-century low this week as high mortgage rates continue to weaken the housing market,” said Sam Khater, Freddie…

Children Want Their Parents To Age In Place, But It’s Hurting Housing
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Children Want Their Parents To Age In Place, But It’s Hurting Housing

Most Americans want their parents to age comfortably in their own homes, but it can be a challenge for both families and the housing market. Three out of four adults want their parents to be able to age in their own homes, but more than half of Gen Xers don’t feel financially prepared to assist…

Study: Americans Moving To Be Closer To Family

Study: Americans Moving To Be Closer To Family

A new study from United Van Lines found Americans moved to lower-density areas to be closer to their families in 2021. The study, which uses data from the migration patterns of United Van Lines customers, found Vermont and South Dakota had the highest inbound migration, at 74% and 69%, respectively. South Carolina (63%), West Virginia (63%), and…

American Homes Gained $9.1T In Value In November
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American Homes Gained $9.1T In Value In November

Homeowners gained $9.1 trillion in housing value between November 2020 and November 2021, a new report from Redfin found. U.S. home prices rose 31.4% year-over-year (YOY) to $38.3 trillion in November, with a $2.6 trillion annual increase a year earlier. The surge in value was propelled by continuing home price appreciation. November was the 16th…

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