New construction inventory has reached its highest point since the Great Recession, with the number of new single-family homes rising 7.7 percent between 2016 and 2017 to 795,000 units, according to the Census Bureau’s 2017 Characteristics of New Housing report. “It’s good that there’s more construction, but there’s still plenty of room for more building,” says realtor.com® Chief Economist Danielle Hale. “Builders are obviously c
Home shoppers looking for a bargain can still score deals in some areas of the country. The Rust Belt and Midwest regions tend to have the highest percentage of homes listed for less than $100,000—properties with three bedrooms, two bathrooms, and a yard. “Bargains definitely exist,” says realtor.com® Chief Economist Danielle Hale. “But buyers should go in with their eyes open. In some of those areas, $100,000 can buy a pretty decent hom
The majority of working baby boomers ages 50 and over say they expect to delay retirement, according to a survey by The NHP Foundation, a nonprofit real estate corporation supporting affordable housing. The cost of housing may be one reason why.Prospective retirees say their top three concerns are an inability to afford quality health care (36 percent); dependency on children (28 percent); and being forced to choose a living situation inferior to
Several states and cities have been offering relocation buyers financial incentives—including paying off student loan debt—to move there. Now Vermont joins the list.Vermont Gov. Phil Scott signed a bill into law last week that will give certain people who relocate there from another state up to $10,000 to cover moving expenses. The money is part of a grant program aimed at attracting tech workers and revitalizing the state’s aging work for
Just how important is a neighborhood’s “vibe” to prospective buyers? Nearly nine in 10 say the look and feel of a neighborhood is a top consideration when choosing where to live, according to an independent survey of more than 2,000 consumers conducted by Ally Home.The majority of survey respondents say they prefer a “quiet and quaint” neighborhood vibe rather than a “modern millennial” vibe. More than one-third say they want a nei
A real estate professional in Huntington Beach, Calif., was fined $2,750 by the city because he displayed too many open house signs around town, according to officials. Last month, Jerry Del Mauro, a sales associate with RE/MAX Select One, was holding an open house for a $1.4 million listing, which is situated on a desolate street on an island. In order to capture potential buyers’ attention, Del Mauro placed 18 signs advertising the open house
Facebook has indicated that the high costs of living in Silicon Valley, where it is headquartered, could prompt the company to relocate. Elliott Schrage, Facebook’s chief policy officer, said during an annual shareholders meeting this week that the pricey cost of housing in San Francisco—where another Facebook campus is planned—must be addressed “if we’re going to remain a company in Silicon Valley for the long-term.”Facebook’s anno
When it comes to the hottest housing markets in the nation, the majority are no longer in California, according to realtor.com®. Markets such as Boston and Midland, Texas, edged out California metros in May that had long held top spots. Realtor.com® ranks metros based on time on market and the number of views garnered for listings in each city.“Our latest inventory data confirms we’re in the thick of the hottest homebuying season on record,
As Friday marks the official beginning of hurricane season, the National Oceanic and Atmospheric Administration reports that millions of homes in the U.S. are at risk of storm surge, and trillions of dollars in damages are possible. The NOAA forecasts this year’s hurricane season to be “near- or above-normal,” and CoreLogic projects that nearly 7 million homes are in danger zones. The threat comes as the National Flood Insurance Program
A 30-year-old man who was under a court order to move out of his parents’ home in Camillus, N.Y., vacated the property Friday just two and a half hours before the deadline. Michael Rotondo’s parents filed a legal complaint in May to force their son to move out on his own. A judge gave Rotondo until noon Friday to leave the home; Rotondo finally left at 9:30 a.m. in his Volkswagen Passat after a brief media interview in which he said his par
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