Strong demand and low inventories fueled home prices to record highs in 2017, as the median home price in the U.S. reached $235,000, up 8.3 percent from 2016, according to real estate data firm ATTOM Data Solutions. Still, annual price appreciation showed signs of slowing; in 2016, the national median home price jumped 8.5 percent year over year, according to ATTOM’s latest housing report.Sixty-four of 112 metros—or 57 percent—set a new rec
Living with a roommate isn’t a trend only among renters, nor is it limited to families living in multigenerational homes. The latest U.S. Census Bureau data reveals a growing number of adults who are living with other adults with whom they are not in romantic partnerships.The trend increased after the last recession, and “nearly a decade later, the prevalence of shared living has continued to grow,” according to a new analysis of census dat
A decade after the last housing crisis took its toll on the U.S. economy, most real estate markets nationwide have not only fully recovered but are soaring above prerecession home-price highs. Personal financing website Credit.com predicts that the markets in the following states will stand out the most this year. Nevada: Median home values in Las Vegas are expected to rise about 5.8 percent over the next 12 months. The median home price is curr
The Federal Reserve may have voted to leave its short-term interest rates unchanged this week, but that didn’t stop lenders from moving up mortgage rates. Average mortgage rates are continuing an upward trend in 2018.“The Federal Reserve did not hike rates this week, but the market views future hikes as a near certainty,” says Len Kiefer, deputy chief economist at Freddie Mac. “The expectation of future Fed rate hikes and increased borr
Following the largest data breach in the nation’s history, Equifax announced that it is extending its free credit freezes to consumers through June. The data breach this past fall exposed the personal information of about 143 million Americans, and has even prompted warnings from housing analysts that the breach could impact buyers’ ability to complete a home sale.The personal information stolen by hackers could compromise consumers’ Socia
If the housing market has a say, the Philadelphia Eagles will emerge victorious against the New England Patriots in this weekend’s Super Bowl LII, the National Association of REALTORS® predicts. But NAR isn’t judging its pick based on defensive or offensive plays. Instead, its forecast is based on both teams’ housing markets. NAR’s prediction looks at the home price increases of the two competing cities, while realtor.com’s looks at h
The U.S. Department of Housing and Urban Development announced it will award more than $1.5 billion to help Puerto Rico homeowners and local businesses recover from Hurricanes Irma and Maria. The funds, which are part of HUD’s Community Development Block Grant (CDBG) Disaster Recovery Program, will support long-term recovery efforts to repair the serious damages.“As local leaders, along with their citizens, develop their recovery plans, HU
Many Americans begin looking for a home to buy without understanding the fundamentals of applying for a mortgage or what it takes to qualify for one, according to a new survey by Ally Home, a direct-to-consumer mortgage business.Ninety-two percent of the more than 2,000 U.S. adults who responded to the survey admit they don’t know how much mortgage they can afford. Further, most say they’re confused about “rates” versus “points,” and
Only two weeks after Congress passed a bill to reopen the federal government following a three-day shutdown, a repeat of that quagmire is looming. The budget bill Congress passed funds the federal government through Feb. 8, when another shutdown is possible if lawmakers don’t agree on a long-term funding before then. What impact will real estate feel should the government close once more?Most home sales likely will be minimally affected because
The Federal Reserve voted on Wednesday to leave its benchmark interest rate unchanged, but it continues to leave the door open to future increases this year. The Fed’s benchmark rate will remain in the range of 1.25 percent to 1.5 percent, which is low by historical standards. Fed committee members said that by leaving the rate unchanged, they hope the low rates will help support broader job growth and stronger inflation.Lawrence Yun, chief eco
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