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A recent Nareit commentary examined occupancy rate momentum across the four traditional property types and found that property fundamentals have generally been soft or softening across these sectors. Rent growth rates also highlight property market fundamentals. A review of these metrics and their respective momentum measures reveals similar outcomes to the occupancy rate analysis: year-over-year rent growth rates have broadly been modest or mo
Buying a home is one of the largest personal and financial decisions you can make. For many buyers, the process includes finding a loan that will help you pay for your new home over time. An iPro agent can help you learn about your options. Here’s what else you need to know:What is a mortgage, and how do I get one? A mortgage is a loan offered by a bank or lender that lets you borrow money to purchase a home and repay over time with inte
Once you sign a purchase agreement on your new home, there are still several steps to complete before you can finalize—or “close”—the transaction. While the process differs in each state, here are the basics of what you can expect during the period between signing and closing:What happens after I sign a purchase agreement? Once you have signed a purchase agreement, you will enter “escrow,” an arrangement that protects both buyer
NAR’s 2024 Migration Trends report reveals consumers’ motivations for relocating and which states are gaining the most new residents.A job change, which is typically a primary impetus for moving, is becoming less of a motivating factor for people to relocate—even as some companies call for employees to return to the office.Recent home buyers say they were more motivated to move to be closer to friends and family or to find greater affordabi
Employers added 227,000 workers to their payrolls in November, but with 7.1 million Americans out of work, the unemployment rate is back up to 4.2%, the Bureau of Labor Statistics reportsA rebound in job growth in November after disruption caused by October strikes and hurricanes was not enough to keep unemployment from rising, bolstering the case for a Dec. 18 Fed rate cut and more easing next year.Employers added 227,000 workers to their payrol
Economy added 227,000 positions last month, slightly more than forecast The S&P 500 and Nasdaq Composite rallied and were poised to set new records after data showed hiring rebounded in November.The latest nonfarm payrolls report suggested the labor market remains in decent health—but not strong enough to deter the Federal Reserve from cutting rates later this month.A total of 227,000 positions were created in November, topping expectations
Borrowing costs have fallen to their lowest level in more than a month.The average rate for the 30-year fixed-rate mortgage dialed back to 6.69% this week, falling from 6.81% the previous week, Freddie Mac reported Thursday. It marks the lowest average in more than a month, and the drop was enough to push up mortgage application activity, a gauge of homebuying activity.“The responsiveness of prospective home buyers to even small changes in rate
U.S. construction spending increased more than expected in October, boosted by single-family homebuilding.The Commerce Department's Census Bureau said on Monday construction spending rose 0.4% after an unrevised 0.1% gain in September. Economists polled by Reuters had forecast construction spending climbing 0.2%. Construction spending advanced 5.0% on a year-on-year basis in October.Spending on private construction projects increased 0.7%. Invest
