With prices rising every week, lenders as strict as ever, inventories at decade-low levels, interest rates starting to rise and competition for homes breaking their hearts, more and more buyers are reaching their frustration limits.
Apartment owners and managers are fighting tooth and claw to dispel the myth that multifamily living is unfriendly to pets, a longstanding motivation that has driven pet-lovers to become homeowners.
Six years of crisis have changed forever the way Americans think about housing. It's good news for rental housing and not so good news for the home ownership industry, according to a massive new study conducted by Hart Research for the MacArthur Foundation.
The percentage of customers signing offers in January increased by 12 percentage points according to a leading brokerage and 23 percent of Americans think it is a good time to sell compared to 11 percent the same time last year, according to Fannie Mae's January 2013 National Housing Survey results.
Nearly twice as many homes priced over $10 million were sold to Asians as Western Europeans in the US last year, while buyers from the Americas dominate a far greater share of the international sales for all price tiers than either Asians or Western Europeans.
Nearly three quarters of potential buyers believe home prices will increase in their neighborhood in the next twelve months, twice as many as in the first quarter.
High lending standards that make it virtually impossible for millions of younger, single home buyers to get a mortgage are creating an older, more married and wealthier population of homeowners.
Rising home values have brought homeowner equity to its highest level since the third quarter of 2008 and helped lift 1.3 million families above water. Homeowner equity jumped $406 billion, or 5.9 percent, to $7,275 billion in the second quarter of 2012, according to the Obama Administration's September Housing Scorecard.
Real estate professionals continue to be more optimistic about the direction of home values than homeowners. Fifty-one percent of real estate professionals expect home values to increase, up from 48 percent from last quarter. Thirty-four percent of homeowners expect home values to increase, up from 27 percent last quarter.
About one out of eight, or 17 percent, or homeowners with a mortgage believes their home is worth less than the amount they owe when in fact the opposite is true, suggesting that large numbers of owners are undervaluing their homes, perhaps due to recent home price increases.
It's no secret that this is a good time to buy, but more and more sellers are beginning to think that it's also getting to be a good time to buy... at least better than it was six months ago.
As thousands of American families prepare to sell and buy homes during the 2012 season, some 28 percent of women and 25 percent of men put more emphasis on their feelings about a home than they do on the layout, square footage, or price.
The weatherman is not the only source of spring-like forecasts this week. Two national surveys released today found that consumers are feeling better about the real estate picture for the first time in months
Compared with whites, greater shares of both black and Hispanic young adults say owning their own home is among their top priorities. While 25 percent of blacks and 26 percent of Hispanics say owning a home is of the highest importance in their lives, only 12 percent of whites say the same.
Support for homeownership is greater in states whose median home value is higher than the national average, according to a new national survey of homeowners.
For the past six months, one consumer survey after another has tracked increasingly negative expectations about home prices in the year to come while some expert forecasts were more positive. Now, Fannie Mae has turned the tables.
Blame sellers, not buyers, for the lousy real estate market. Deeply negative sentiment is causing sellers to lose sales or keep their homes off the market altogether. Buyer sentiment is not expected to improve in the near term and market activity will remain sluggish for months to come.
Even as consumer confidence in the economy as a whole brightens, hopes for a housing recovery are growing increasingly gloomy.
Consumers don't plan to buy homes anytime soon because they think prices will fall farther next year, mortgage rates will stay low for a long time and they're very worried about their personal financial situation.
Nearly half of all homeowners in their thirties have lost hope that their homes will recover enough value in time to play an important role in paying for their retirement.
Home buyers are less satisfied today with real estate brokerage services from franchises and seller s more so than they were a year ago. That's the bottom line from J.D. Power and Associates' 2011 Home Buyer/Seller Study.
The March BuildFax Remodeling Index, which is based on building permit data, increased for the seventeenth straight month on a year-over-year basis as the residential remodeling industry continued to strengthen and more homeowners opted to stay where they are and remodel rather than move.
Homeowners who used a real estate professional to sell their homes reported a 50 percent better closing rate than those who went it alone, according to a new consumer survey by HomeGain.
The housing market took another big step towards civil rights and equality last week when the United States Dept. of Housing and Urban Development (HUD) proposed a new rule to guarantee equal access to housing regardless of sexual orientation or gender identity.
The number of Americans who believe buying a home is a good financial decision has fallen every year since 2007 and reached a low of 77 percent this year, according to an annual survey released yesterday by the National Association of Realtors.
With the expiration date for the first-time homebuyer tax credit approaching, builder confidence in the market for newly built, single-family homes slipped one point to 18 in October.
The remodeling industry is turning a corner and annual consumer spending for home improvement should start to rise in the beginning of next year
Foreclosures and the demise of the first-time homebuyer tax credit will swing the negotiating advantage back to buyers and away from sellers, who have been enjoying an improved status in many markets as declining inventories discourage price reductions.
Falling inventories are helping home sellers gain a negotiating edge over buyers for the first time in many months.
To save money, more and more renters are teaming up with a roommate or two in a larger unit rather than living alone in a studio or one bedroom apartment, but they are driving up vacancy rates.
Senior households may become the next group of consumers harmed by irresponsible marketing and selling practices according to a report released by a major consumer organization released yesterday.
After setting a 20-year record last summer, the national apartment vacancy rate has risen even higher in the third quarter and there is no relief in sight for landlords through the balance of the year.
For the first time in five years, overall consumer satisfaction with homeowners insurance has increased significantly, driven by favorable customer perceptions of the value of their policies.
A Worcester, Mass. grand jury indicted an Oxford, Mass. attorney and three accomplices late last week for a complicated scheme to defraud desperate homeowners facing foreclosure..
Four South Florida brothers pleaded guilty in Miami yesterday to obtaining 18 mortgages fraudulently in five different Florida counties to buy houses for a massive marijuana farming operation.
More renters became homeowners last month but fewer existing homeowners moved up to more desirable homes or neighborhoods even though they acknowledge current home prices are a good value, according to an industry-sponsored survey. Most potential move-up buyers believe homes are more affordable today than in recent months and 69 percent believe the economy is improving. [...]
One of the nation's largest homebuilders reported increased losses during the third quarter but also issued a forecast on the housing market that was so rosy it moved stocks higher during pre-market futures trading this morning.
About one quarter of the nation's 14.9 million unemployed workers have missed a mortgage, rent, or credit card payment according to a comprehensive national survey of 1,200 Americans nationwide who have been unemployed and looking for a job in the past 12 months, including 894 who are still jobless.
The make-up of American homeownership is becoming increasingly white as foreclosures turn the dream of owning a home into a nightmare for thousands of minority families, pushing the minority homeownership rate to its lowest level in decades.
Even though the first-time home buyer tax credit doesn't expire for three months, analysts' assessment of the pending demise of the credit sent helped end the stock market's four day rally today, driving down housing and financial stocks.
Home prices have dropped so much in the past two years that if they continue to fall as expected, monthly ownership costs will be less than monthly rents in a number of major markets, according to a new study from the Center for Economic and Policy Research and the Low Income Housing Coalition.
There's little to smile about in Zillow's latest report on home values: US home values fell 12.1 percent year-over-year, marking the 10th consecutive quarter of declines; Total home sales fell 23.7 percent in June versus a year earlier; and more than one-fifth (23 percent) of all owners of single family homes with mortgages owe more on a mortgage than their home is currently worth.
It's hard to turn on a newscast these days without hearing about the Cash for Clunkers program and what it has done for the auto industry. It's also hard to resist the urge to make comparisons between Washington's two great fixes to stimulate the economy: C4C and the first-time homebuyers' tax credit. If you're thinking that the real estate industry needs a Cash for Clunkers program, you might match up of the two fixes to see if it makes sense. New Housing Forecasts available now at: http://www.realestateeconomywatch.com/category/housing-forecasts/forecasts/
Like black markets that spring up in ravaged cities during wartime, there's something inherently unhealthy about the existence of a two-tiered housing market, one for "normal" sales and one for "distressed" sales.
Perhaps you've heard of the pending demand for real estate-prospective buyers who have postponed taking action until they perceive conditions have optimized. There's also a pending supply of real estate and it's large enough to have a serious impact on the housing markets if a recent study is correct.
Just what is the world coming to?
A new national survey by Move, Inc, operator of Realtor.com, sheds some light on the two most powerful factors motivating buyers in this complicated market. Those would be fear and opportunity.
A recent study conducted by researchers from the graduate schools of business at the University of Chicago and Northwestern University found that one out of four homeowners who default on their mortgages make a strategic decision to clear out their belongings and walk away from their homes-even if they can afford to pay their mortgages.
There's an old construction industry adage that goes something like this: when home builders prosper, remodelers have hard times and when remodelers are doing well, it's a bad market for builders.
For the first time during the current real estate recession, most homeowners have come to grips with the fact that their homes have lost value during the past year.
National surveys over the past month are detecting a change in public attitudes towards real estate for both homeowners and investors.
Two new public opinion surveys taken last week found encouraging stirrings of consumer confidence and pent- up demand for homeownership. A new national survey conducted last weekend and commissioned by Move, Inc. found that 23 percent of adults plan to purchase a home in the next five years, and more than half of them are first-time homebuyers, even though half of all Americans are concerned they or someone they know will face foreclosure in the next six to 12 months. The Move survey also found nearly one out of five home owners plan to take advantage of the Administration’s new program to help prevent foreclosures. While searching for answers in the past 12 months, 21 percent of all homeowners with a mortgage contacted a lender to restructure their loan. Half of those homeowners who contacted their lender experienced success while six percent still await an answer. Despite today’s challenging market conditions, 18.1 percent of adults plan to buy a home this year in order to take advantage of the $8,000 tax credit recently passed by Congress in the Administration’s economic stimulus package.
Americans have less confidence in banks than ever, but most like the ...
Two national surveys conducted immediately after President Obama released the outline of his foreclosure plan ten days ago show a marked shift in public opinion in support of using government aid to help homeowners having problems paying their mortgages. Yet the nation remains split over whether the policy is fair or unfair to those who have met their mortgage payments.
It is not an overstatement to say that confidence has played a significant role during the past decade with regard to the performance of the economy and housing markets. Who could forget the day when America shook after the terrorist attacks on September 11, 2001 and consumer and investor confidence plummeted?