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Homeowners are staying in place twice as long as they did 20 years ago: Redfin

Housing Wire

While “homeowner tenure” has fallen slightly since its 2020 peak, the length of time that homeowners are remaining in their properties doubled to 11.9 were 65 and older as of 2020, up from 13% in 2010,” the report reads. Some young families are turning to new construction, and others are renting homes.”

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Desktop appraisal option to start in March

Housing Wire

The option is not available for second homes, investment properties, cash-out refinances, construction loans, multi-unit properties, renovation loans, condos, co-ops or manufactured homes. Lenders leapt at the opportunity to conduct appraisals remotely, especially in the northeastern part of the country.

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DataDigest: The staying power of the new New South

Housing Wire

Millions of transplants brought about $100 billion in new income to the Southeast in 2020 and 2021 alone, while the Northeast lost roughly $60 billion. Home prices and demand rocketed across the New South , and only Austin, Texas, has seen prices drop anywhere close to 10% from the peak (which still means a 55% increase from February 2020).

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A look at Knoxville’s hot housing market

Housing Wire

According to the Knoxville Area Association of Realtors , the number of houses for sale in 2020 was down 47.5% Owen Poveda, a broker for RE/MAX preferred company Home in the Smokies , said he gets between six to 12 offers per property, usually with bids heading up to 10% over asking price. year-over-year.

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Redfin: Boomers aging in place is ‘the driving force’ behind median homeowner tenure doubling since 2005

Empire Appraisal Group

After climbing every year between 2005 and 2020, U.S. homeowner tenure increase so much between 2005 and 2020? In addition to “aging in place,” the Redfin report also cites state-level tax policies that encourage homeowners not to move as part of the reason for increased homeowner tenures. In 2005, the median U.S.

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How to grow housing supply in 2021

Housing Wire

housing market was the single best outperforming economic sector globally during the COVID-19 pandemic in 2020. months, builders will halt the rate of growth for new construction plans as they did in 2018 and again for a brief period this year. months, the builders are ok with construction as long as new home sales grow.

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Build-for-rent is a bet on the ‘new normal’ housing market

Housing Wire

Construction starts in the BFR market are being propelled by the ongoing demand for single-family rental units as high mortgage rates and limited for-sale inventory push home-purchase prospects further out of reach of many would-be homebuyers. In addition, JP Morgan Chase & Co. metro areas.