Americans making the national median income should expect to pay nearly 30 percent of their income on rent, an all-time high.
The nation’s hottest markets on the West Coast continued to favor sellers with quick sales and high asking prices. But some still-recovering markets remained a bargain for buyers as more homes went up for sale.
The demand for off-campus rental housing is steady, creating a large spike in rental prices. On the other hand home values are still below their peak levels, and mortgage rates remain low, making for great bargains for long-term buyers.
The median size of a million-dollar home today is just 2,629 square feet, down 4 percent from 2,730 square feet in 2007.
Today, Zillow introduces its new, semi-annual “Best Places to Buy a Vacation Home” list, ranking places based on location, price and investment potential.
Mortgage rates for 30-year fixed mortgages dipped slightly this week, with the current rate borrowers were quoted on Zillow Mortgage Marketplace at 3.98 percent, down 5 basis points from this time last week.
After rising at the end of 2013, for-sale inventory has fallen for four straight months to begin 2014.
Rising rents and low mortgage rates have helped skew the rent vs. buy decision toward buying for those who can afford it.
The second biggest cost of home ownership — following the mortgage — is usually property taxes. In 2012, homeowners paid an average of about $2,800 in property taxes, but it can vary greatly depending on where you live.
The share of homeowners with a mortgage that are underwater, owing more on their home than their home is worth, has dropped below 20 percent for the first time in years.
Inventory is rising and home prices are leveling off, giving buyers a better advantage this spring.
The nation’s top areas for singles may have the highest percentage of bachelors and bachelorettes, but financial factors count, too.
Home values rose in November, up 0.6 percent from October, according to the latest Zillow Real Estate Market Reports.
With just one week left until our housing forum in Washington, D.C., “Getting our House in Order: Solving the Lingering […]
We’re teaming up with the Bipartisan Policy Center to host a full-day event entitled “Getting Our House in Order: Solving the Lingering Issues of the Housing Recession,” Thursday, Oct. 24 in Washington, D.C.