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Urban home values growing faster than ‘burbs in Midwest

Housing Wire

A Zillow report released Thursday shows urban home values in Midwest cities — namely, St. Louis, Cincinnati, Cleveland, Kansas City, Columbus and Indianapolis — have risen faster than suburban home values over the past several months. Today, both sellers and buyers expect to handle a majority of the process online.

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Millions will enter housing market in 2021: Zillow

Housing Wire

And now, with the COVID-19 vaccine circulating and the economy slowly regaining strength, Zillow researchers say millions of additional households could enter the housing market in 2021. Specifically, housing markets like Portland, Maine , Bay City, Mich. markets; by December 2020, prices were already up 23.6% and Austin.

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How the housing market will evolve in 2023

Housing Wire

This article is part of our 2022 – 2023 Housing Market Update series. After the series wraps, join us on February 6 for the HW+ Virtual 2023 Housing Market Update. economy has remained resilient, backed by a very strong labor market, sky-high job openings and low unemployment. in September 2022. The overall U.S.

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Home prices are dropping like it’s 2009

Housing Wire

Median home prices in August fell 0.98% in August, only slightly better than July’s 1.05% monthly decline. The average home price is down 2% ($8,800) from its June peak nationally as we enter the historically slower fall-winter homebuying season. That monthly payment is up $930 from August 2021, a 73% increase. as of Sept.

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Rate buydowns are the cat’s meow in today’s market

Housing Wire

High interest rates, coupled with a still-low supply of housing, have created price hurtles that are keeping many first-time homebuyers and lower-income borrowers locked out of the housing market. Nobody was doing buydowns in 2020 and 2021 [when 30-year fixed mortgage rates were in the 3% range]. in November, down from a 9.2%

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The Rise in Interest Rates And How It Affects Buyers and Sellers

Boston Appraisal

The Rise in Interest Rates and How It Affects Buyers and Sellers When the COVID-19 pandemic began in early 2020, the Federal Reserve was quick to act by substantially reducing interest rates, which resulted in many new buyers entering the market to purchase a home at low rates. This affected buyers and sellers.

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What’s in a Street Name? A Key to Home Values

Empire Appraisal Group

A Key to Home Values. Homes are more expensive along streets with the words Beverly, Third, Brickell, Bayshore or Island. But Timber or Knoll street homes took longer to sell. Some street and neighborhood names are more associated with expensive homes than other names. Streets by time on the market.