Real Estate

  Millennials Continue to Be Fenced Out Of Homeownership Today's young adults continue to face delays in homeownership compared to past generations at the same age. Not only is the homeownership rate lower for those under 35 today compared to past generations, but the first-time buyer share is lower, and the age of first-time buyers is older than seen historically. When looking at the U.S....

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After weeks of steady declines, mortgage rates are finally within a range that brings the possibility of homeownership closer to reality for many hopefully buyers. Still, in the wake of the Federal Reserve’s jumbo-sized interest rate cut in September, many buyers are opting to remain on the sidelines in the hopes that further Fed cuts later this year will lead to more mortgage rate declines. However,...

Mortgage interest rates aren't perfect right now but they're certainly becoming a lot more favorable for borrowers. After surging to their highest level in more than 20 years in 2023, mortgage rates have since dropped by more than a full percentage point on average. In mid-September, they fell to their lowest level in more than two years. And that's before presumed additional rate cuts to come courtesy of...

After months of anticipation, the Federal Reserve cut interest rates on Wednesday by half a percentage point. It will have an impact on the housing market — but it's unlikely to make a huge difference for those struggling to afford a home.   Let's take a look: 1.Mortgage rates might not actually drop much right now Mortgage rates have been high recently, particularly in comparison to the historic...

It is still a sellers market in the Charlotte Market, but the supply of homes for sale here has been steadily rising in recent months, bolstered by a growing number of townhomes hitting the market. Why it matters: A more balanced supply will make for a less frenetic environment for folks looking to buy or sell a home. Housing supply also affects affordability. By the numbers: Thanks in part to lower...

No one likes jumping on a social media bandwagon more than NAR Research. So, by way of a recent meme, let's go! Looking at the data, let's focus on first-time buyers. First-time buyers have to be "demure and mindful" in many ways.   Finances: Housing affordability is a struggle, with current high home prices and elevated mortgage interest rates. In nearly half of metro areas, home buyers need a...

Auxiliary dwelling units got a boost from the Charlotte's unified development ordinance. The city of Charlotte’s approach to ADUs reflects a confident step towards creating diverse and affordable housing options while maintaining the neighborhoods integrity. Understanding and adhering to these local regulations are crucial for homeowners considering the addition of an ADU on their property. However,...

Shop Rates Instant Reaction: Mortgage Rates - July 28th, 2024 The 30-year fixed mortgage rate from Freddie Mac declined to 6.89% over the last week from 6.95%. At 6.89%, with 20% down, a monthly mortgage payment on a home of $400,000 is $2,105; with 10% down, it is $2,369. Positive: The CPI retreated today. Importantly, shelter, which is a lagging component but more than one-third of CPI, had slower...

Are Buyers In trouble? New Laws Start Aug.17th 2024   The NAR now prohibits brokers listing homes on affiliated databases from offering compensation to buyer’s agents.  The Impact on Sellers: Home sellers may refrain from covering buyer-agent commissions, leading to significant cost reductions. The proposed rule change allows buyer’s agents to view compensation offers from their brokerage...