3 ways real estate agents can help renters become homeowners

Here’s how three real estate agents in three distinct markets — New York City, Chicago and Fargo — are helping renters make their dreams come true.

Home affordability at 10-year low

As home price gains have outpaced wage growth and rising interest rates have nudged up mortgage costs, home affordability has dropped to a 10-year low.

Market Report: Flatter Rents and Slowing Values

According to the August Zillow® Real Estate Market Report, home prices and rents slowed as summer wound down, with prices up 6.5 percent year-over-year—a departure from 8.2 percent this spring—and rents unchanged. Based on the Zillow Home Value Index and the Zillow Rent Index, the median price is $216,700, and the median rent is $1,440. […]

The post Market Report: Flatter Rents and Slowing Values appeared first on RISMedia.

Redfin CEO Glenn Kelman: There’s too much money in real estate

Glenn Kelman, Redfin’s CEO and president took the helm of the real estate brokerage 13 years ago, this month. He talks to Inman about the ups and downs.

Affordability Aside, Housing Optimism Picks Up

The confidence consumers have in housing is picking up steam—but not because of the market outright, according to the August Fannie Mae Home Purchase Sentiment Index® (HPSI). At 88, the gauge grew 1.5 percentage points month-over-month; however, the confidence consumers have is on par with the prior year, and they are more keen on macro […]

The post Affordability Aside, Housing Optimism Picks Up appeared first on RISMedia.

Cost of Homeownership Increases 3 Times the Price of Renting

With affordability draining quickly, the gap is growing between the amount of buyers with a desire to purchase, and the amount of buyers who actually can. According to an analysis newly released by realtor.com®, the cost of homeownership has increased more than three times the price of renting today—and, areas in growing numbers are unaffordable. […]

The post Cost of Homeownership Increases 3 Times the Price of Renting appeared first on RISMedia.

Buyers Lured to Midwest: Realtor.com

Buyers are eyeing the Midwest, where, compared to the coasts, there are more practical prices, according to the latest ranking by realtor.com®. July’s hottest housing markets, based on days on market and online views, were: 1. Midland, Texas Age of Inventory (Median): 29 days 2. Fort Wayne, Ind. Age of Inventory (Median): 34 days 3. […]

The post Buyers Lured to Midwest: Realtor.com appeared first on RISMedia.

NAHB: Affordability Hits Lowest in 10 Years

Affordability has hit its lowest in 10 years, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Opportunities Index (HOI) for the second quarter of 2018. Approximately 57 percent of homes sold in the second quarter were affordable based on income (the median, nationally, is $71,900), down from roughly 62 percent in the […]

The post NAHB: Affordability Hits Lowest in 10 Years appeared first on RISMedia.

Affordability Challenges Keep Millennials on the Sidelines

Affordability is fading fast—and although millennials are eager to enter the market, and succeeding, they’re bearing the brunt of the challenge, according to recent research. Sixty-three percent of millennials under 29 are challenged by the cost of homeownership, according to a CoreLogic and RTi Research study. The expense, in fact, is their No. 1 reason […]

The post Affordability Challenges Keep Millennials on the Sidelines appeared first on RISMedia.

Half of Homes Past Pre-Recession Values

Half of the homes—50.4 percent—in the nation are past their peaks prior to the recession, with 21 of the 35 largest markets at the milestone value, according to the June Zillow® Real Estate Market Report. Based on the Zillow Home Value Index (ZHVI), in June, home prices were up 8.3 percent year-over-year, to a median […]

The post Half of Homes Past Pre-Recession Values appeared first on RISMedia.