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Go big and go home: The trend of bigger houses in the US

It’s no secret homes are more costly now than they have been in the past, and this is because the average home size has gone up. Today’s homebuyers want bigger, more extravagant homes than past generations, and this demand has pushed developers to build larger houses. As the additional square feet become the standard in many neighborhoods, the extra space propels property values. Not only are homes getting bigger, but they’re also coming with more amenities, according to The Wall Street Journal. To complement the additional bedrooms, homebuyers want smart home feat...

April 29th, 2015 Go big and go home: The trend of bigger houses in the US

Be mindful of stale listings in the housing market

Although an available home for sale can be a sight for sore eyes in markets where inventory is tight, homebuyers need to be cautious of what Redfin calls a stale listing. These are homes that have been on the market for months but haven’t sold because they need some work, are overpriced or have another issue. Typically, these properties have been listed for 30 days or more. “All the desirable properties are getting snatched up in three days,” said Connie Durnal, a Dallas Redfin agent. “The ones that are left become our stale inventory.” She went on to s...

April 24th, 2015 Be mindful of stale listings in the housing market

More retirees staying in their current homes

While many people dream of purchasing a vacation home in a warmer location during retirement, more baby boomers are maintaining their current homes rather than moving. Most people older than 50 years intend to stay in their current homes or communities, according to USA Today. A survey from Merrill Lynch and Age Wave revealed 65 percent of retirees consider their current homes to be the best place they have ever lived. Retirees who planned to continue living in the same home reported it was because they loved their houses, they had family and friends nearby, loved their communities...

April 20th, 2015 More retirees staying in their current homes

Economists have mixed feelings on latest housing starts report

The U.S. Department of Commerce and Department of Housing and Urban Development released their joint report for March housing production, and economists have varying opinions on the data. Some are calling the performance lackluster, while others believe the activity doesn’t signal bad news. What the report found Residential construction figures for March provided mixed results, with a combination of increases and declines. For instance, overall building permits went up compared to March 2013 but dropped compared to February of this year. Housing starts were the key focus for e...

April 20th, 2015 Economists have mixed feelings on latest housing starts report

Baby boomers are leading an increase in vacation home purchases

Baby boomers are driving up sales of vacation homes, according to the National Association of Realtors (NAR). The NAR’s annual survey found these sales exceeded their 2006 peak in 2014, with boomers leading the charge. Year over year, there was a 57.4 percent improvement for new and existing vacation home sales. “Furthermore, last year’s impressive increase also reflects long-term growth in the numbers of baby boomers moving closer to retirement and buying second homes to convert into their primary home in a few years,” said NAR Chief Economist Lawrence Yun. ...

April 10th, 2015 Baby boomers are leading an increase in vacation home purchases

Technology increasingly influences the homebuying and selling process

Technology, especially mobile devices, has changed nearly every aspect of daily life. This trend is starting to affect the housing market. In a recent study from Redfin, American consumers indicated they want a change in the traditional real estate experience. In particular, respondents were interested in lower fees and tech-based solutions. Sixty-nine percent said they wanted to explore alternative options to a real estate agent. The majority of buyers and sellers wanted lower fees. What makes traditional agents appealing? Homebuyers and sellers still want to work with real estate...

April 6th, 2015 Technology increasingly influences the homebuying and selling process

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