Real Estate – Page 19

The end of the year is typically the time when experts and prognosticators make predictions for the year ahead. And while it’s not easy to see into the future, year-end forecasts can give us an idea of which scenarios are likely to play out. Take Fannie Mae’s most recent forecast from their Economic and Strategic Research Group. Its experts say economic growth will begin to slow in 2019 but the real estate market may actually be well positioned. And that could be good news for home buyers. Doug Duncan, Fannie Mae’s chief economist, says mortgage rates and home sales will stabilize next year. “We maintain our call that the Fed will hike rates once more in December and two more times in 2019, despite rising market expectations of fewer hikes amid stock market volatility,” Duncan said. “If mortgage rates trend sideways next year, as we anticipate, and home price appreciation continues to moderate, improving affordability should breath some life into the housing market.” In other words, though conditions may still be challenging, home buyers should see a calmer market next year and the beginning of some relief. More here.

December 17, 2018

The Rising Share Of Single Women Home Buyers

Traditionally, home ownership has been seen as part of settling down. Getting married and starting a family went hand-in-hand with buying a home and planting roots in a community. But though they’re still common motivating factors, marriage and children aren’t the only reasons someone might want to become a homeowner. And so there are an increasing number of single home buyers active in the housing market. Among them, women are outpacing men. In fact, according to the National Association of Realtors’ most recent numbers, 65 percent of home buyers in 2017 were married couples but 18 percent were single women. And while that may not seem like a lot, the percentage has risen in each of the last three years and has nearly doubled over the past 35 years. Additionally, single women home buyers outpace single men by a wide margin. One recent study found that in the country’s 50 largest metropolitan areas, single women own more than 70,000 more homes than single men, with cities like New Orleans, Miami, and Birmingham, Ala., showing more than a quarter of households owned and occupied by single women. More here.

December 5, 2018December 3, 2018

Online Tools Gain Popularity With House Hunters

The internet and smartphones have changed the way we do things. Everything from how we buy groceries to how we listen to music has been affected by technological advances. So it should come as no surprise that shopping for a house has also been transformed by easy access to information and resources. A look at research from the National Association of Realtors shows just how much. For example, in 2003, 42 percent of home buyers said they used the internet frequently during their home search. This year, 83 percent said so. Additionally, over just the past few years, there’s been a nearly 20 percent increase in the number of buyers that said they frequently used a mobile or tablet application while searching for a home. But though the internet has become an important part of the house hunt, most buyers still seek out the expertise and experience of a professional when it comes time to buy. In fact, 89 percent of respondents who said they used the internet during their home search purchased their home through an agent. More here.