Lack of homes available for sale and the concomitant rise in prices appears to be sidelining many first-time potential homebuyers in 2018.
Despite rising prices, the share of investor and vacation home buyers has held steady in the past two years.
A healthy economy and the solid pace of job creation continues to drive homebuying demand.
Mortgage rates dipped to 4.27 percent this January, down 2.5 percent compared to 4.38 percent a year ago.
Imposing a 25 percent tariff on imports of steel and a 10 percent tariff on imports of aluminum, even if excludes those imports from Canada and Mexico, will raise the price of newly constructed home.
REALTORS® report “low inventory” and “interest rate” as the major issues affecting transactions in February 2018.
Existing-home sales declined 2.3% in January from one month prior while new home sales dropped 7.8%.
Strong buyer traffic amid low supply of homes coming into the market continues to push up home prices.
International Women’s Day is a day to acknowledge the economic, political, and social achievements of women. In recognition of this day we can examine the profile of women REALTORS® using the 2017 Member Profile.
Except in two states, REALTORS® reported that buyer conditions were “stable” (unchanged) to “very strong” compared to conditions one year ago.
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