First-Time Home Buyers Boost Housing in 2021
With millions of millennials turning 30 over the next few years — the peak age to make the leap into homeownership — first-time home buyers will play an important role in real estate markets across the country. In January, Realtor.com partnered with HarrisX to survey 1,000 recent and prospective first-time homebuyers to gain more insight into this key segment of the market. Take a look at their findings.
Home Price Increases in Opportunity Zones Keep Pace with Nationwide Gains
Median home prices rose annually in the fourth quarter of 2020 in 77% of Opportunity Zones with a jump of at least 10% in almost two-thirds of Zones. The price growth not only shows market strength, according to Todd Teta, ATTOM Data Solutions Chief Product Officer, “it also suggests that many distressed communities are ripe for the redevelopment that the Opportunity Zone tax breaks are designed to promote.”
Single-Family Rent Growth Accelerated at the End of 2020
Overall, U.S. single-family rent growth strengthened in December 2020, increasing 3.8% year over year according to the CoreLogic Single-Family Rent Index (SFRI). Not surprisingly, the uneven U.S. job recovery led to slower rent growth in low-priced tiers. Read on to see rent growth by metro.
Six Financial Metrics Every Investment Property Owner Should Track
Whether you’re a seasoned landlord or considering purchasing your first investment property, David Friedman, Co-Founder and CEO of Knox Financial, says keeping an eye on these financial metrics will help you take steps toward maximizing your property’s financial performance.
9 Straight Months of Bidding Wars
Intense competition among homebuyers continued in January. Redfin reports that 56% of Redfin offers for homes faced bidding wars in January, up from 52.5% in December. It’s also the ninth consecutive month in which more than half of home offers written by Redfin agents faced competition.
Housing Affordability Improves in December
Thanks to low interest rates, housing was more affordable for families nationwide at the end of 2020. Housing affordability increased nationally in December compared to a year ago and rose compared to November, according to the National Association of REALTORS® Housing Affordability Index.
