Most Popular Neighborhoods Heading Into Home Shopping Season
The country’s most popular neighborhoods have a lot in common with its most popular celebrities: They tend to be in California.
Market Trends
Rapid Reaction: Q1 2018 Homeownership Rate
The seasonally adjusted Q1 2018 homeownership rate was 64.2 percent, according to the U.S. Census Bureau, unchanged from Q4 2017 and up somewhat from 63.6 percent in Q1 2017.
There's a serious mismatch in the U.S. housing market right now: The majority of homes available to buy aren’t the kind of homes the majority of buyers are seeking. And the limited inventory of those more sought-after homes is contributing to their more rapid appreciation.
March Existing Home Sales Key Takeaways: Inventory Green Shoots
March existing home sales increased 1.1 percent from February to 5.6 million units at a seasonally adjusted annual rate (SAAR), according to the National Association of Realtors, the second consecutive month of unexpectedly strong sales after a string of weak reports.
Homes Sold Faster Than Ever in 2017
As demand has outpaced supply in the housing market over the past three years, buying a home has become an exercise in speed and agility. The median valued home flew off the market in just 81 days last year, which was nine days faster than the year before.
Homes ‘Earn’ at Least Minimum Wage in Almost Half the Largest U.S. Cities
The rapid pace of home value appreciation over the past year may present homeowners in several large U.S. markets with an interesting dilemma: Why work a 9-to-5 slog, when you can sit back and collect substantial hourly home equity “earnings” instead?
Lucrative Listing Descriptions: The Surprise Features to Stress When Selling
Of all homes listed for sale on Zillow between 2016 and 2017, those mentioning “steam shower” in their listing descriptions earned sellers a 29 percent higher sale price than listings that didn’t mention it, the highest premium among more than 100 listing terms analyzed by Zillow.
Why Late Spring Is the Best Time to List a Home For Sale
Nationwide, the first half of May is the best time to list a home for sale in order to maximize sale price and minimize time on market. U.S. home sellers listing in early May can expect to sell almost two weeks sooner and for a $2,400 premium, on average, over listing at other times of the year.
What Are the Hidden Costs of Selling a Home?
The biggest “hidden” expenses are closing costs, which total $13,357 for the median-valued U.S. home. In San Jose, closing costs for the median valued home total $74,927, while in Indianapolis – which is in a state with no transfer tax – they total $8,604.
February Home Sales Likely Held Back by Wintry Weather, Rising Rates, Limited Listings
Persistently and relentlessly tight inventory, rising mortgage interest rates and a series of nasty winter storms likely combined to keep February home sales activity muted, especially sales of existing homes.
