Builders are facing rising lot prices, likely to be passed on to buyers of new homes.
Home price appreciation remains strong but may show some signs of slowing in the coming months, according to two housing reports released Tuesday.
Home ownership among households with children dropped 15 percent from 2005 to 2011, the Census Bureau reports
More Americans are opting to live alone, with single buyers making up a quarter of all home purchases last year. Being a single buyer can pose challenges, such as qualifying for a mortgage with just one income.
Foreclosure inventories nationwide fell 32 percent in July compared to a year ago, another sign that the foreclosure crisis may finally be over, according to CoreLogic's latest foreclosure report released Thursday.
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Sales of major properties (over $2M) advanced 24 percent on a yearly basis during the first half of this year, totaling $145.3 billion, based on Real Capital Analytics (RCA) data. Most property types registered double-digit growth rates, signaling strong investor interest in commercial assets.
Affordability has a strong impact on homeownership. Not surprisingly, four of five states with the lowest homeownership rates in the US are characterized by markets with high prices.
NAR Chief Economist Lawrence Yun discusses the reasons for the slip in pending home sales in July 2013.
In July, single-family new-home sales dropped to their lowest level in nine months. Economists blame the recent surge in mortgage rates.