Pending home sales fell at the end of 2018, as consumers became increasingly concerned about the economy and heightened home prices, according to a newly released housing index from the National Association of REALTORS®.NAR’s Pending Home Sales Index—a forward-looking indicator based on contract signings—decreased 2.2 percent to a reading of 99 in December. Contract signings are down 9.8 percent year over year.“The stock market correctio
Pittsburgh, Cleveland, and Oklahoma City are the best cities for first-time home buyers hoping to jump into homeownership, according to a new study released by LendingTree.The three cities ranked on top of a new list released from LendingTree that stacked the 50 largest metros up against each other based on how friendly they are to first-time home buyers. Cities were ranked on six main factors, including down payment amount, the share of buyers u
About Khris Khris Vancil holds a bachelor's degree in agriculture from Cal Poly San Luis Obispo where he moved in 1999 to attend college. Khris was born in Portland, Oregon and attended primary school in the small town of Moab, Scottsdale, Arizona, San Jose, California, and Salem, Oregon. He obtained his real estate license in 2016.Khris developed his love of real estate in high school and college where he put himself through school
Many parts of the U.S. have been struck with a snap of subzero temperatures. While keeping themselves warm during the bitter cold, homeowners also need to take precautions to keep their home safe, too.In Wisconsin's capital, the Madison Water Utility posted a photo on Twitter to show homeowners how a burst pipe can damage a home. The photo was taken at a vacant home in Madison. “They shut the heat off, so then the water burst up in th
People who have gone through the homebuying process are often eager to give advice. But too often, these so-called insider tips may very well be outdated.Realtor.com® recently highlighted some of the most common advice home buyers may hear from their peers that no longer applies in the current housing market, including:“Wait for spring.”Buyers shouldn’t feel like they’ll be at an advantage if they wait for the busiest season in
Homeowners are hitting the pause button on remodeling projects, which may prompt home renovation activity to fall to its lowest level in three years, according to a new report from Harvard University’s Joint Center for Housing Studies.“Remodeling activity tends to go hand-in-hand with home sales, so when a homeowner is preparing their home for sale they’re likely to do some work just getting their home ready for the market,
In a legal showdown, the state of California is suing one of its own cities because it says the city has failed to build enough affordable housing for its residents. In turn, the city of Huntington Beach is suing the state, claiming the state’s housing law is “unconstitutional.”Calif. Gov. Gavin Newsom says the state sued Huntington Beach because it has harmed “California families’ ability to find affordable places to live and has drive
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Real estate indicators are starting to shift in favor of home buyers as the housing market sets its sights on spring. Mortgages are getting cheaper, housing inventories are growing, and home prices are rising at a slower pace.Mortgage rates have been holding steady for the last few weeks. The 30-year fixed-rate mortgage averaged 4.45 percent last week, according to Freddie Mac. Late last year, mortgage rates were nearing the 5 percent t
Fixed-rate mortgages have been inching lower in recent weeks, but the percentage of borrowers being tempted by the even lower rates of adjustable-rate mortgages is rising. ARMs posted the highest share of originations in December since Ellie Mae, a maker of software used to process mortgage applications, began tracking them in 2011.The share of ARMs reached 9.2 percent in December 2018, up from a 5.6 percent share a year prior, accordin
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