The dollar volume of land sales and land prices per acre rose across all land types during the 12-month period of October 2018–September 2019.
The aspiring buyer faces record-breaking low inventory levels, rising rents, and student debt loads that make it difficult to save. But for some, there is a way that does help: they turn to the trusted bank of mom and dad.
Eighty-four percent of respondents reported that home prices remained constant or rose in December 2019 compared to a year ago.
At the national level, housing affordability conditions improved in November 2019 compared to last a year ago and modestly rose compared to October.
70% of all REALTORS® volunteer in their community, and the typical REALTOR® who volunteers is 53 years old.
Costs of buying a house include upfront expenses, like a down payment, but buying a home also includes closing costs, like origination fees and prepaid costs.
Overall, buyers’ ages have jumped from a median of 31 in 1981 to 47 in 2019. While many attribute that increase to the rising age of first-time buyers, there is more to the story.
Owners typically stay fewer years in their homes in metro areas with a high concentration of new residents, a NAR analysis shows.
At the national level, housing affordability conditions improved in October 2019 compared to last a year ago but slightly fell compared to September, according to NAR’s Housing Affordability Index.
October's pending home sales pace was down 1.7% last month, but rose 4.4% from a year ago.
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