First-time homebuyers will find the best mix of affordability, low competition, and young homeowners in Midwestern metros, a new report says. Zillow named the best markets for first-timers in 2024, with St. Louis taking the number one spot. Detroit, Minneapolis, Indianapolis, and Austin rounded out the top five. These cities offer reasonable prices and a…
Scores of workers are being called back to their offices after more than three years of working remotely, influencing homebuyers’ choices as commutes are reintroduced to their lives. The typical American commute is 26.4 minutes long, according to a new analysis by LendingTree. Based on median hourly earnings of $30.80, commuting costs $27.10 a day…
By KIMBERLEY HAAS Leaders at Rocket Pro TPO are extending their promotion on 30-year conventional purchase loans at or under $200,000 as they gear up to be more competitive in that market this year. During an IGNITE: Live! webinar on Monday, Executive Vice President Mike Fawaz announced that they are continuing their 37.5 BPS credit…
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…
Multifamily saw a stunning reversal in the fourth quarter of 2022 as apartment supply finally surpassed demand, creating a “swift and unprecedented” downturn. A new report from Apartments.com found that multifamily fundamentals declined in Q4, driven largely by limited absorption and supply/demand imbalances. “We ended the year with absorption barely remaining positive and vacancy rates…
December 2021 saw a record annual surge in US home value, the largest gain seen in any December since at least 2001, according to a new analysis of Redfin’s Housing Value Index. U.S. home value rose 18.6% year-over-year (YOY) to $38.6 trillion. Austin, TX, saw home values double that, jumping 39.2% YOY. That shakes out…
Despite challenging conditions for first-time homebuyers, Millennials are actively engaging in the housing market, especially in the nation’s largest metros, according to a new analysis from LendingTree. The analysis found that Millennials– people aged 25 to 40 in 2021– make up a majority of homebuyers in most of the US’s largest metros, especially Denver, Seattle,…
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