Though young professionals and older empty nesters have fueled a recent housing boom in urban centers, some economists have cautioned that overdevelopment and flattening rental prices are signaling a shift away from city life. But developers aren’t leaving downtown.The number of new building permits jumped 5.7 percent in April compared to a year earlier, the Census Bureau reports, with a sizable portion centered in urban areas. The urban reside
Where do buyers have the longest wait times before feeling the financial benefits of homeownership?In March, the California Association of Realtors hosted a panel — “The California Series: State of the State” — revealing that overly strict building codes, an aversion to affordable housing in affluent neighborhoods, and, most of all, exorbitant cost of living is pushing California toward becoming a majority renter state.Zillow’s latest
A new study reveals the causes of this market lullKey Takeaways Post-foreclosure stress disorder, mortgage availability, the growing burden of student loan debt, single-family housing affordability and single-family housing supply shortages are the five key barriers to homeownership.Despite robust job growth and low interest rates, U.S. homeownership rates remain at a 50-year low due to issues with affordability, crushing student loan debt, harsh
Staging, curb appeal updates, and closing costs add up.Selling a home not only takes time, but also costs money. To help with budgeting, Zillow and Thumbtack identified several common — but often overlooked — seller expenses.From closing costs to home prep projects like carpet cleaning, U.S. homeowners can expect to spend more than $15,000 on these extra or hidden costs to sell the median home, according to Zillow and Thumbtack’s Hidden Co
Some Americans may want to get a head start on retirement, at least when it comes to where they intend to call home. A new study by LPL Financial ranks the top most desirable states for pre-retirees, those aged 45 to 64 years old.The 2017 LPL Financial Research Retirement Environment Index ranked states on numerous factors deemed important for 45- to 64-year-olds, including housing affordability, community quality of life, employment, health care
Builders from across the country are teaming up this week for Habitat for Humanity’s Home Builders Blitz, an annual event where builders work on repairing or constructing homes for those in need. Hundreds of builders across 32 cities within 17 states are participating this year to deliver more affordable homes in their area during the week, BUILDER online reports.Habitat, partnering with Ply Gem, teamed with local builders, manufacturers, and
For the second consecutive year, Vermont was ranked as the safest state in the nation, according to a new report released by WalletHub. The Northeast dominated the list of safest places in the country, with six states in the region nabbing spots in the top 10.WalletHub factored in 37 safety indicators for each of the 50 states, including crime, unemployment, job security, road safety, emergency preparedness data, workplace safety, and more to ra
Selling is sounding more appealing. The percentage of Americans who reported now is a good time to sell zoomed to a record high in May, according to Fannie Mae’s latest Home Purchase Sentiment Index, based on a survey of about 1,000 Americans on their views about the housing market. Meanwhile, the net share of Americans who say now is a good time to buy fell 8 percentage points and reached a record low last month.“High home prices have led ma
Home equity is an important part of the assets that families depend on later in life—in fact, it is one of the top two assets that households rely on in retirement, outside of a pension or Social Security benefits, according to a new report titled, “Importance of Individual Account Retirement Plans and Home Equity in Family Total Wealth.”Researchers at the Employee Benefit Research Institute compared assets in households headed by those bet
There’s a reason utility bills feel like they’re taking a bigger bite out of households’ budgets. On average, utility costs—electricity natural gas, water, and sewer—add 25 percent to monthly housing costs for homeowners and 21 percent to housing costs for renters, according to a newly released white paper by ATTOM Data Solutions, a real estate data firm, and UtilityScore, a software provider for solar and other home improvement compan
This website includes images sourced from third party websites including Adobe, Getty Images, and as otherwise noted.
