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Challenging Housing Market Results in Nearly 80% of Homeowners Preferring to Renovate Than Move

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42% of homeowners say rising interest rates are delaying their home improvements; nearly half that are planning projects have encountered material delays In light of a difficult housing market filled with high home prices and low supply, Discover Home Loans issued a survey to better understand homeowners’ attitudes towards home improvements, purchasing and refinancing. According to its survey, Discover found 79% of homeowners would rather renovate their current home than move to

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Single-Family Rental Home Providers Shift to Build-for-Rent to Address Housing Shortage

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Providers of single-family rental homes increasingly turned to the development of new housing over the past two years as a means of responding to housing market supply constraints and a corresponding surge in demand for single-family rental housing. According to data from the current Single-Family Rental Market Index (SFRMI), released this week and produced by the National Rental Home Council (NRHC) and John Burns Real Estate Consulting (JBREC), homes built

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WORD OF THE DAY: Genteel

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[jen-ˈtēl] Part of speech: Adjective Origin: French, 16th century Definitions: Having a stylish or upper-class quality; elegant or refined; excessively polite to the point of being pretentious Examples of Genteel in a sentence “The genteel furnishings in her room stood out from the otherwise broken-down nature of the house.” “Genteel matters don’t concern those of us who have to focus solely on survival.” About Genteel If genteel looks familiar, that’s because it shares roots with

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Realtor.com® February Rental Report: Affordability Issues Rise as National Rents Reach 30% of Americans’ Incomes

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In February, national rents grew 17.1% year-over-year to a new high of $1,792 per month, representing a higher share of household incomes (29.7%) than in 2021 (24.8%) New rental data shows affordability issues are on the rise, as Americans spent 30% of their monthly budgets on rents in February on average, according to the Realtor.com® Monthly Rental Report. February rents accounted for an even higher portion of household incomes in 14 of the

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First-time buyers, inventory expected to rebound in 2024

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Panel of housing experts sees pandemic-fueled deficits sticking around until then Panel expects a two-year climb back to pre-pandemic for-sale inventory levels  Share of first-time buyers is forecast to stay below 2019 levels until 2024 Home price appreciation should outstrip all inflation measures this year except that of energy The housing market is expected to return to pre-pandemic, 2019 norms — at least in terms of inventory and the share

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Homebuyer Competition Ticked Up in February, Hitting Record High

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Bidding Wars Are Intensifying at a Slower Pace Than They Were at the Start of the Pandemic By Lily Katz, Senior Data Journalist at Redfin Nationwide, 68.6% of home offers written by Redfin agents faced bidding wars on a seasonally adjusted basis in February—the highest level in Redfin’s records, which date back to April 2020. That’s up slightly from a revised rate of 68% in January and 60.2% a year

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