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First-time buyers need to earn $64,500 to afford a typical starter home

Housing Wire

In June, the typical starter home sold for a record $243,000, up 2.1% New listings of starter homes dropped 23% from a year earlier in June, the biggest drop since the start of the pandemic, the report found. Austin buyers must earn $92,000, down 3.3% Austin buyers must earn $92,000, down 3.3%

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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.

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Opinion: The end of seller speculation in US housing market

Housing Wire

metropolitan areas in February 2022, based on year-over-year growth in median listing price according to the residential real estate listing website, Realtor.com. The table also reports the year-over-year percent change in new listings for each market. Table 1, below, reports the 10 hottest U.S. Bellingham, WA 51.7% -8.3%

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Borrowers opt for permanent rate buydowns amid affordability challenges

Housing Wire

Prior to the pandemic, buyers paid closer to 0.5 On the surface, it may seem the market has been stirred by a full point decline in interest rates and home prices coming off their peaks – but it’s not that simple,” Graboske said. points on average, with a corresponding cost of about $1,500, in 2018 through 2020. “On

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Even with falling rates, the housing market is shaping up to be bad in Q4

Housing Wire

“Many prospective buyers are still taking a ‘wait-and-see’ approach to see if rates fall further. But another big constraint on the market is a lack of inventory, with new listings drying up as we head into the winter holidays.” ” .”

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Finding a "Buyer's Agent"

Eppraisal

Buying a home can be one of the most exciting times in your life. Finding a real estate agent who specializes in working with buyers is critical. Working with buyers requires a different skill-set than working with sellers. A sellers agent's job is to market and sell a client's home.

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Finding an Agent: 5 Key Questions to Ask a Prospective Buyer's Agent While Conducting Interviews

Eppraisal

Buying a home is one of the most important financial and emotional transactions you will ever make. It is imperative to find a buyer's agent who will work hard for you, understanding both your desires and financial realities in securing the ideal home. Be sure your buyer's agent knows how to work in a balancing market.

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