Having a roommate is a growing trend among young adults, according to new research from the National Association of Home Builders. About 7.5 percent of young adults aged 25 to 34 years old shared a house with roommates, housemates, or other nonrelatives in 2016—up from only 4 percent in 1990. In addition, more young adults nowadays are living with their relatives (other than parents)—3 percent in 1990 compared to 5 percent in 2016. More are l
Californian cities no longer dominate realtor.com®’s top-performing housing markets list as they have for the past six years. Instead, higher home prices may be prompting more home buyers to look elsewhere.Overall, home prices nationwide continued to escalate in June, with the median listing price nationwide at $299,000, a 9 percent year-over-year increase, according to realtor.com®. The higher home prices are prompting more buyers to face af
For green, vibrant grass, it is essential for homeowners to learn about aerating, seeding, and watering their lawns to keep the curb appeal intact, according to realtor.com®’s Lawn Lover’s Guide.“When you don’t give your lawn enough water, it grows with shallow roots,” says Don Botts, the president of Quality All-Care Services in Bonner Springs, Kan. “This can stunt the growth of your grass and make it harder for your lawn to su
Single women over the age of 55 have been the fastest-growing demographic of home buyers when compared with other categories of buyers since 1981, according to U.S. Census Bureau data. Married couples are the largest group of buyers, and single women the next largest group.In 2017, single older women comprised 8.2 percent of all home buyers—double the percentage of 20 years ago, according to researcher Ralph McLaughlin, founder and chief econom
The rising cost of housing is the biggest hurdle for young prospective buyers to overcome, according to new research from Freddie Mac. Home prices are rising faster than incomes, and the lag in young adult homeownership rates will likely continue until 2025, Freddie Mac notes.The homeownership rate among those under the age of 35 has fallen 8 percent since reaching a peak in 2004. Freddie Mac’s analysis reveals that higher rents and home prices
More vacation and investment property owners intend to rent out their homes as short-term rentals this year, according to research from the National Association of REALTORS®.Twenty-five percent of those with vacation properties and 24 percent with investment properties rented their home as a short-term rental in 2017—30 and 32 percent, respectively, plan to do so in 2018, according to NAR.Forty-five percent of investment buyers say they purcha
Smart-home gadgetry and design trends emphasizing openness are leading to more noise disturbances, such as echoes, inside homes. Some homeowners are even hiring “acoustic consultants” to help alleviate the issues.A common noise-prone living arrangement is an open floor plan with a minimalist design, where more emptiness and fewer items of furniture enable reverberations inside the home. It can make make it difficult for owners to pick up othe
Home improvement reality television shows have long misguided consumers about the renovation process. You likely have some clients who are obsessed with channels such as HGTV, and they may have developed some common misunderstandings about the real time and effort it takes to undergo remodeling a home. Fox News recently highlighted several myths these shows tend to generate.The answer to creating more space is always to knock down walls. Designe
Young adults express such a strong desire to own a home that they are willing to take on extra work or make another major sacrifice in order to afford one. Thirty-six percent of millennial home buyers say they’ve taken a second job to save for a down payment, according to a new Redfin survey of about 500 respondents between the ages of 24 and 38 who plan to buy their first home in the coming year.The top concern among these first-time home buye
More commercial buyers are taking a page from the coworking trend, in which office space is used in a more communal way. Operators of coworking spaces typically sign a lease for a generic office and build out areas for numerous desks and amenities often geared toward community. Operators then sublease those areas at a premium, and on short, flexible terms, to individuals or companies looking for smaller office space.“Coworking is upping the gam
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