Some unusual or uncommon home features are not only attracting buyers but also encouraging them to pay more for those features. In a study for Angi, formerly Angie’s List, researchers combed through sold listings to identify common or trending home features and determine whether a price premium could be attached to some amenities.In the kitchen, buyers may appreciate a pot filler faucet over the cooktop. Angi researchers said that feature alone
Mortgage rates may be moving higher but eager buyers continue to drive loan applications to purchase a home higher as well. Mortgage applications to purchase a home rose 1% last week, the Mortgage Bankers Association reported Wednesday. Home shoppers may be rushing to lock in rates ahead of any further increases.But higher mortgage rates are taking a toll on homeowners looking to refinance. Mortgage demand for refinance applications fell 15%
The nation’s housing crunch has raised the profile of accessory dwelling units—small homes sharing a plot of land with a larger single-family home. Also known as granny flats, in-law units, or backyard bungalows, ADUs tend to be under 1,200 square feet and can be a viable, lower-cost alternative for renters who are unable to afford larger pricier units.In her new book Bigger than Tiny, Smaller than Average, author Sheri Koones says that
Elevated inflation and the Federal Reserve’s monetary tightening policy drove the latest leap in mortgage rates this week. Since the beginning of this year, mortgage rates have jumped by 1.2%. The typical home buyer would need to spend $250 more every month to be able to purchase a home, Nadia Evangelou, senior economist and director of forecasting for the National Association of REALTORS®, writes on the association’s blog.The 30-year fixed-
Americans spent 30% of their monthly budgets on rents in February, a percentage that most financial experts consider debt-burdened for households. In 14 of the 50 metros tracked, rents accounted for an even higher portion of household incomes, led by Sun Belt metro areas like Miami, Tampa, Fla., and San Diego, according to realtor.com®’s Monthly Rental Report.The U.S. median rental price nationwide jumped to a new high of $1,792 in February. T
More than 575,000 people in the U.S. are considered homeless—that’s larger than the total populations of major cities like Atlanta and Miami, according to a LendingTree study, citing U.S. Department of Housing and Urban Development data.California, New York, and Florida have the largest homeless populations in the nation. Those states alone comprise nearly half of the total U.S. homeless population. On the other hand, North Dakota, Wyomi
As mortgage rates rise, levels below 4% for the most popular 30-year fixed-rate mortgage are likely to remain in the rearview mirror. The 30-year fixed-rate mortgage averaged 4.16% this week, Freddie Mac reports.“The 30-year fixed-rate mortgage exceeded 4% for the first time since May of 2019,” says Sam Khater, Freddie Mac’s chief economist. “The Federal Reserve raising short-term rates and signaling further increases means mortgage rates
The demand for single-family rental homes is climbing, sending rental prices soaring. The annual gain in single-family rents rose to a record level of 12.6% in January, the fastest yearly increase in more than 16 years of reporting, according to a newly released report from CoreLogic, a real estate data firm. That annual rent growth was more than triple the increase in January 2021.Single-family rent growth extended its record-breaking price grow
The top-performing real estate markets in February reached a peak median price: $562,000, according to an analysis by realtor.com®. That marks a 43% jump over last month’s national median list price of $392,000, also a record high.Realtor.com® releases a monthly report of the hottest housing markets in the country, tracking metros that have seen the fastest sales and the highest listings traffic at its site.Manchester, N.H., remained the
Following two weeks of declines, mortgage rates edged up, and economists say that consumers should expect further increases over the coming weeks.The Federal Reserve will likely raise its short-term interest rates at its meeting next week. While the Fed’s benchmark rates do not have a direct effect on mortgage rates, they do often influence them and likely will lead to an increase, the National Association of REALTORS® notes on its Economists
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