article thumbnail

Working with buyers in the nation’s hottest housing market

Housing Wire

1 city in population growth for the last eight years and it was the hottest job market in 2019 and 2020, according to the Wall Street Journal. year-over-year increase in home values. Garrett said aside from cash buyers, he also has clients who have money to offset any appraisal gap. Austin has ranked as the No.

article thumbnail

DataDigest: How and where homebuilders are closing deals

Housing Wire

The Western pessimism is also unsurprising given the year-over-year declines Western states have seen in home values. Builders reported covering closing costs, offering discounted or free features, helping buyers sell their existing home and providing other incentives. 2019 level. 2019 level.

Inventory 443
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Coastal California metros were the priciest  in March: Zillow

Housing Wire

Home prices are surging in major U.S. metros, with coastal California cities and Seattle leading the charge in monthly home value growth, according to Zillow’s newest market report. These metros also continue to grapple with below-average inventory recovery, maintaining pressure on buyers.

article thumbnail

Millennials struggle to compete with boomers for homes

Housing Wire

From 2009 to 2019, the share of recent buyers who are 60 years and old grew 47% , while the share of recent buyers ages 18-39 fell by 13%. From 2009 to 2019, the share of recent buyers who are 60 years and old grew 47% , while the share of recent buyers ages 18-39 fell by 13%.

Buyers 539
article thumbnail

Equity jumps for Black homeowners, but problems remain

Housing Wire

The positive: Homeowners in primarily Black neighborhoods earned an average of $59,000 in home equity in 2020, compared with $50,000 for homeowners in primarily white neighborhoods between 2019 through January 2021. That $59,000 gain represents a median home equity increase of 197%. By 2021, that number shrank to $24,000.

article thumbnail

Attract More Buyers with Energy Efficient Upgrades

Lamacchia Realty

ATTRACT MORE BUYERS WITH ENERGY EFFICIENT UPGRADES With monthly utility bills being a nagging cost all year long for homeowners, home buyers are more aware than ever about energy-efficient features within prospective homes. 81% of buyers desire Energy Star-rated appliances.

Buyers 63
article thumbnail

Think US home prices are high? At least we aren’t Canada

Housing Wire

To persuade people of this, probably one of the most important articles I have ever written in my life was in 2019, titled: Housing Bubble 2019? It’s now evident that housing did not collapse and in fact home prices are savagely unhealthy. housing market is more tied to mortgage buyers. In addition, the U.S.

Buyers 529