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homes

A collection of 8 posts

Global luxury home prices turned negative for the first time since the global financial crisis of 2009 and are expected to continue to drop

Per Business Insider The prices for global luxury homes have turned negative for the first time since the global financial crisis. The report stretched 46 leading markets and found an annual drop of 0.4% in the first quarter; this was the first negative since 2009. The study was conducted

UBS predicts a rise in commercial real estate loan defaults, although not a 2008-like credit crunch crisis

Per BI UBS is predicting an increase in defaults for commercial real estate loans. However, the impact isn't expected to be as bad as the global financial crisis in 2008. UBS Global Wealth Management Chief Investment Officer Americas, Solita Marcelli, wrote a note to clients detailing their view

The number of millennials planning to rent forever has gone up

Per Bloomberg The number of millennials that aren't looking to buy homes and plan to rent forever has increased. Three years ago, the number was just one in seven, but now, it is nearly one in four. This came from a survey by Apartment List, which showed how

Zillow posts national median sales price of all homes at $334,269

Per Zillow The Zillow Home Values Index (ZHVI) shared how the average US home value was up by 5.0% over the year, and sat at $334,269. Per a previous article by Market Watch, it was noted by home values fell the most in three housing markets since 2022.

28 million Americans plan to buy homes within 2023

Per Market Watch A report from Market Watch shared the state of Americans when it came to wanting to buy property. The study found that 28 million wanted to purchase a home within the year. The data came from Ned Wallet's annual Home Buyer Report, which tackled how

Median first-time buyer age reached 36 in 2022 from 29 in 1981, per NAR

Per Bloomberg The median age for first-time homebuyers has increased in the span of almost four decades. In 1981, the median age for first-time buyers was 29 but last year, the median homebuyer age reached 36. The National Association of Realtors released records that showed first-time buyers making up only

Cash buyers for homes rose closer to 2013 heights

Per Bloomberg The number of buyers in the US that prefer to pay in cash has increased to higher levels, closer to its 2013 numbers. Per Attom, a real estate data analytics firm, there was a retreat in institutional buyers and more regular buyers trying to avoid mortgage rates by

30-year mortgage rates drop from 6.6% to 6.42% after the second straight week of decline

Per ABC News The 30-year mortgage rates dropped from 6.6% to 6.42% after its second consecutive week of decline. These changes could positively affect homebuyers as the spring buying season is scheduled to start. A year ago, the average rate for 30-year mortgages was at 4.42%, exactly