The split-level home—with its rooms on multiple floors—was all the rage in the 1970s, but you don’t see the style as much in contemporary homes. However, that may soon change. Google searches are revealing the split-level home is more in demand.Search interest in split-level homes has been climbing since 2004 and reached an all-time high in January 2017, according to Google data. The largest increases over the past year came during May and
As prices rise, more buyers are turning to unconventional loans to finance their new-home purchase, particularly in some western southern markets.The share of unconventional financing is comprising more than a quarter—or 28.6%—of the new-home build market, a new analysis of census data by the National Association of Home Builders shows. Unconventional forms of financing include loans insured by the Federal Housing Administration, VA-backed lo
The youngest cities are usually found near college towns. Realtor.com® researchers analyzed 2017 U.S. Census Bureau metro data to pinpoint the cities with the lowest average resident age (the rankings were limited to one city per state for geographic diversity). The top 10 cities all have an average resident age of 30 or younger.The following cities’ residents have the youngest average ages:1. Provo, UtahAverage resident age: 24.7Median home l
A total of 143,105 properties nationwide received a foreclosure filing—default notice, scheduled auction, or bank repossession—in the third quarter of this year, the lowest level since the second quarter of 2005, ATTOM Data Solutions reports in its latest Foreclosure Market Report. U.S. foreclosure activity is now 49% below the prerecession average of 278,912 between the first quarter of 2006 and the third quarter of 2007, ATTOM Data rep
The 30-year fixed-rate mortgage jumped 12 basis points from last week, averaging 3.69%, Freddie Mac reports. That’s no reason for home shoppers to get nervous: Economists largely predict mortgage rates will dip in the weeks ahead. Also, rates are still more than a percentage point lower than a year ago.“Despite this week’s uptick in mortgage rates, the housing market remains on the upswing, with improvement in construction an
Total housing starts dropped 9.4% month over month in September to a seasonally adjusted annual rate of 1.26 million units, the U.S. Commerce Department reported Thursday. The multifamily sector, which includes apartments and condos, plummeted 28.2% in September to a pace of 338,000. However, single-family housing starts fared much better, rising 0.3% to 918,000 units.Overall, builders are happy with the numbers.&nbs
Some real estate pros are prepping their “spooktacular”-themed open houses to attract potential buyers this month. Here are a few tips if you decide to follow the Halloween vibe:Don’t go all “goth” when decorating: Keep the themed decor simple and especially tasteful. No tombstones and graveyards or skeletons on the front stoop to frighten buyers away. April Struhs, a real estate pro with Coldwell Banker Schmitt Real Esta
Housing experts say that homeownership is growing out of reach for a rising number of minority households. Fewer than one in 10 homes for sale last year were affordable to African American households in several major cities, such as San Francisco, Denver, Boston, Los Angeles, and Seattle, a newly released study from Redfin reports.The report calls out San Francisco, where less than 1% of homes for sale last year were affordable for African Americ
The number of older American households is climbing to record high levels, and the housing industry is closely monitoring their evolving housing needs. The number of homes headed by a person age 65 or older rose from 27 million to 31 million between 2012 to 2017.Over the next 20 years, the oldest age groups—age 65 and over—are expected to increase their share of all U.S. households from 26% in 2018 to 34% by 2038, according to a newly release
Students are borrowing more money nowadays, not only causing them to face higher bills but also forcing them to delay homeownership, the study notes.The average student loan borrower owes $34,500, which is $8,500 more than the typical down payment of $26,000. More than a quarter of millennials say that student loans are the primary barrier to saving up for a down payment, according to a separate report from the National Association of REALTO
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