Millennials who delayed homeownership following the Great Recession are now finally entering the market in bigger numbers. They comprised 36 percent of home buyers last year, up from 32 percent in 2013, according to the National Association of REALTORS®. But they’re trying to make up for lost time by skipping over the starter, entry-level home and heading right into buying larger, pricier homes that they plan to stay in longer, USA Today rep
California is on the brink of making solar standard on every new home built in the state. The California Energy Commission is set to vote on Wednesday on new energy standards that would require most new homes to have solar panels installed starting in 2020.If approved, solar installations will skyrocket in the state. Currently, just 15 to 20 percent of new single-family homes have solar facilities, Bob Raymer, technical director for the Californi
For homeowners considering a move, some experts are recommending they get a home maintenance inspection before they list their home for sale. Such an inspection can provide a full picture of any repairs that need to be done before they become negotiating points in a transaction. A home maintenance inspection is similar to a home inspection that is done by buyers, says Frank Lesh, president of the American Society of Home Inspectors. A licens
Optimism for selling a home has helped propel a housing confidence index by Fannie Mae to an all-time high last month. Fannie Mae’s Home Purchase Sentiment Index rose 3.4 points in April to a record 91.7. Last month’s survey posted increases in five of six components that set out to measure Americans’ perceptions of the housing market. Consumers were also upbeat about home prices, job security, and their own personal finances.“The lates
Prospective buyers actively looking for a home say it’s taking them a considerable amount of time. More than half—51 percent—in a recent survey say they’ve been trying to find the right home for three months or longer, according to the Housing Trends Report from the first quarter, conducted by the National Association of Home Builders.Buyers say the main reason their searches are taking so long is because they can’t find a home the
Just when the signs were pointing to a slowing rental market, landlords are finding that demand is warranting higher prices. Rents are posting the highest annual growth rates since the end of 2016, according to a new analysis of 250 of the largest U.S. cities by RentCafe, a nationwide listing service for the apartment sector. Rents are up 3.2 percent year over year, and the national average rent was $1,377 in April.Rental costs rose in 84 percent
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About 1,700 homeowners in Pahoa, Hawaii, have been forced to evacuate as the lava flow from a volcano inched closer to their properties. Most of the evacuations were centered in the Leilani Estates area on Hawaii’s Big Island.So far, 21 homes have been destroyed following the eruption of the Kilauea volcano, which reportedly has spewed lava more than 200 feet into the air. “That number could change,” Hawaii County spokesperson Janet Snyder
Where are the next urban powerhouses? Realtor.com® researchers are betting on a handful of smaller cities to become red-hot, following in the steps of Seattle; Nashville, Tenn.; and Austin, Texas. Those cities once were known as secondary markets but have soared to primary status in recent years. “We’ll see small cities continue to be growth centers,” says Chris Porter, chief demographer at John Burns Real Estate Consulting. “A lot of
A growing number of lending programs are helping homeowners pay the upfront costs of solar panels. One lender, Guild Mortgage, an independent lender, recently announced a program that allows home buyers to lump the costs of solar panels into an FHA loan. California residents will be the first to have access to the program. Guild Mortgage’s FHA Solar program follows Federal Housing Administration loan requirements and offers down payment o
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