Housing Recovery Continues despite Affordability Obstacles
The national housing market has now regained enough momentum to provide an engine of growth for the U.S. economy, according to the latest The State of the Nation’s Housing report by the Joint Center for Housing Studies. Robust rental demand continues to drive the housing expansion, and sales, prices, and new construction of single-family homes […]
Millennials: Want to Own, Less Sure It Makes Financial Sense
Millennials, or Gen Y (34 and under), are an important generation to the real estate industry. Not just because this generation is the future, but also because, for the fourth year in a row, they are the largest share of homebuyers at 35 percent. Yet they also face several distinct challenges on the road to […]
Millionaires Are on the Move…or Are They?
With cash to spare, millionaires can afford to move anywhere, at any time. Most, however, aren’t racking up frequent mover miles—in fact, they move less than the general population, reveals a recent study by the American Sociological Association. The study uncovered a millionaire internal (within the U.S.) migration rate of 2.4 percent per year, below […]
Housing Starts Bloom in June
Homebuilding rates accelerated in June, surpassing expert forecasts for the month and further fortifying the idea that housing is indeed on the mend. According to the Commerce Department, housing starts rose 4.8 percent from a month earlier to a seasonally adjusted annual rate of 1.189 million in June. However, while both permits and starts improved […]
First-time Buyers Fuel Rise in Existing-Home Sales
First-time buyer activity rose to a four-year high in June, furthering the rise in existing-home sales for the fourth consecutive month, according to the National Association of REALTORS®. Only the Northeast saw a decline in closings in June, and sales to investors fell to their lowest overall share since July 2009. Total existing-home sales, which […]
After Foreclosures, Home Buyers Are Back
Many who lost their homes during the early part of the financial crisis are rebounding after credit-penalty phase.
Fannie, Freddie to Lower Fees
The Federal Housing Finance Agency is set to direct Fannie Mae and Freddie Mac to reduce mortgage fees on some borrowers.
Avison Young Hires Big to Accelerate Growth in New York
A. Mitti Liebersohn has left his longtime brokerage team at JLL to join Avison Young’s New York office.
What’s the Deal: News Digest
A roundup of real-estate news in the Greater New York area.
Advantages of a One-of-a-Kind Home
Homes with a special feature that is no longer allowed under local building rules may give owners an edge when it’s time to sell.
