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Realestatemarket

All articles tagged with #realestatemarket

real-estate-economy2 years ago•1 min saved

"2024: A Promising Year for Homebuyers with Improved Affordability and Lower Mortgage Rates"

The real estate market is showing signs of relief for potential homebuyers as mortgage rates decrease from their peak, with the National Association of Realtors indicating that 2023 was a particularly tough year for home sales. The easing of market pressures and a potential reduction in interest rates by the Federal Reserve could further improve affordability in 2024. Home prices have risen, but the increase in listings and advice to shop around for the best mortgage rates suggest a more accessible market for buyers who are financially prepared.

via KOMO News|

##homebuying #housingaffordability

real-estate2 years ago•2 min saved

"Manhattan's Home Market Sees Prices Rise Amid Record Cash Sales Despite Sales Dip"

Manhattan's luxury-home market saw a robust end to 2023, with a 9.1% increase in sales over $20 million and a total volume exceeding $530 million, marking a 37.6% rise from the previous year. Despite higher mortgage rates, average and median apartment prices rose, driven by a few high-end sales. The median sale price for luxury homes reached $6.125 million in Q4, up from the previous year. The market for homes priced between $500,000 and $1 million saw a slight decline, while Tribeca emerged as Manhattan's most expensive neighborhood. Looking forward, experts anticipate potential market shifts in 2024, influenced by factors such as the presidential election, mortgage rates, and high rents.

via Mansion Global|

##luxuryhomes #manhattanrealestate

real-estate-lifestyle2 years ago•6 min saved

"Millennials Co-habit with Parents to Save for Home Ownership"

Millennials are increasingly living with their parents to save money for home purchases amid high rental and real estate prices. The National Association of Realtors reports a rise in first-time buyers moving directly from family homes to their own, with the median age for first-time buyers now at 36. High costs of living, student debt, and competitive housing markets have led to this trend, which also coincides with a rise in multigenerational households. Despite the challenges, some millennials, like Brandon Paulin and Alex Mourousias, have successfully transitioned to homeownership through this strategy.

via The Washington Post|

##homebuying #housingaffordability

real-estate2 years ago•1 min saved

"2024 Housing Forecast: Expert Insights on Buying and Selling in the Real Estate Market"

Mortgage lenders and agents in Portland, Oregon, are observing an increase in buyer interest as mortgage rates begin to decline. Tim McBratney of PacRes Mortgage notes an unusual spike in activity during the holiday season and anticipates more competition among buyers as rates potentially drop to the mid-six percent range. Bonnie Roseman of Living Room Realty highlights the significant impact of rate changes on monthly payments, especially with Portland's average home price around $600,000. Reuben Schug of Windermere Realty Trust observes a renewed interest in city living due to improving conditions. The real estate market is expected to become more competitive in the spring, with advice to buyers to enter the market early and consider refinancing if rates drop further.

via KATU|

##homebuyingtrends #interestrates