U.S. home price growth continued but slowed in April according to the S&P Case-Shiller Home Price Indices. The national home price index posted year-over-year home price growth of 20.4 percent in April as compared to the corresponding home price growth rate of 20.6 percent in March. Analysts said that diminishing affordability was slowing rapid gains in home prices seen during the pandemic. 20-City Home Price Index: Florida and Arizona Report Top Home Price Growth Rates The top three cities for year-over-year home price growth in April’s 20-City Home Price Index were Tampa, Florida … [Read More...]
Whether you're planning on selling your home soon or you want to do a few minor renovations for your own enjoyment, an ailing hardwood floor may be on your list of things to tackle. While this can be a more difficult renovation to complete than many other household items, here are five reasons you may want to move it to the top of the list. An Issue with Structure If there happens to be any glaring structural issues with your hardwood, a complete do-over will be a necessity if you want to sell your house in the future. While this will likely involve fixing the sub-floor under your hardwood, … [Read More...]
During the past year, the housing market has been on fire. There are not a lot of houses for sale, many people are interested in moving, and there is a rising demand from the people who put off moving during the coronavirus pandemic. Furthermore, Millennial demand is picking up, which will only make the housing market even hotter. Recently, a survey found that approximately two-thirds of people who qualify for Generation Y are thinking about buying a home in the near future. Many of them have improving financial circumstances, and they are looking for a way to build wealth and settle … [Read More...]
Some first-time home buyers are on a tight budget when making their real estate purchase, and there may be an inclination by many to purchase a smaller property, such as a condo, rather than the home they truly want. While there may be some initial financial benefit associated with buying a smaller property, there are a few benefits associated with splurging and buying a larger home as a first purchase. By analyzing these benefits, first-time home buyers can make a more informed decision about how to proceed. Costs Associated With Upgrading In The Future Some people will purchase a smaller … [Read More...]
Last week’s economic reporting included readings on home sales, Fed Chair Jerome Powell’s testimony on monetary policy to the House Financial Services Committee, and the University of Michigan’s Consumer Sentiment Index. Weekly reports on mortgage rates and jobless claims were also released. New Home Sales Pace Rises as Pre-Owned Homes Sales Pace Slows The Commerce Department reported a seasonally-adjusted annual pace of 696,000 new homes sold in May; analysts predicted a year-over-year pace of 587,000 new homes sold as compared to April’s year-over-year pace of … [Read More...]
If you have paid attention to the housing market recently, you might be thinking about selling your home soon. You might even be thinking about taking on a few remodeling projects in an effort to maximize the return on your investment. On the other hand, not every project will help you turn a profit, and some might even make your house less appealing. Take a look at a few home remodeling projects your should avoid if you plan on selling your house soon. Remodeling The Bathroom You might be thinking about remodeling your bathroom to turn it into a miniature spa. While this might be attractive … [Read More...]