April readings for S&P Case-Shiller’s Housing Market Indices showed gains in home prices throughout the U.S. Rising prices were caused by shortages of previously-owned homes for sale and increasing buyer demand as the average 30-year mortgage rate exceeded six percent. The southeastern region lost its top spot on S&P Case-Shiller’s 20-City Home Price Index as Chicago, Illinois, Atlanta, Georgia, and Tampa, Florida held the top three year-over-year home price growth rates for April. Chicago, Illinois Breaks Southeast’s Lead on April Home Price Growth The top … [Read more...]
Feeling Squeezed by Higher Rents? It Might Be Time to Consider Buying Your First Home
With the cost of rent going up across the board and becoming even less affordable in metropolitan centers, it's never been a better time to seriously consider home ownership. While the price of a home and all the associated costs can certainly seem like a tight squeeze after years of renting, here are some reasons you may want to consider giving up your rental and springing for a home instead. It's An Automatic Savings It's a sure bet that the money you spend on rent is going down the drain as soon as the month is over, but investing your money into a home each month means that you're actually … [Read more...]
What’s Ahead For Mortgage Rates This Week – August 1, 2022
Last week’s economic news included readings on home price growth, new and pending home sales, and inflation. Weekly reports on mortgage rates and jobless claims were also released. S&P Case-Shiller: Home Price Growth Slows in May Home prices rose at a slower pace in May according to the S&P Case-Shiller National Home Price Index. Year-over-year home prices rose by 19.70 percent in May as compared to April’s year-over-year reading of 20.60 percent in home price appreciation. Tampa, Florida led S&P Case-Shiller’s 20-City Home Price Index with 36.10 percent … [Read more...]
Buying A Home That’s Not For Sale
You’re ready to purchase a home, but you’ve looked at everything on the market and can’t find the perfect place. You’ve researched the school districts, neighborhoods and nearby amenities, and you know exactly in which area you want to live. However, anything that comes on the market in that part of town gets snapped up immediately. It’s time to get creative when it comes to buying a home. Start looking at places that are not currently for sale. You might have driven past your dream home, but you never thought of going the unconventional buying route. Well, take a … [Read more...]
Maximize Your Investment: When To Sell Your House
Your house is an investment, and it is important for you to treat it as such. Therefore, when is the best time to sell your house? You need to figure out how you can get the most money for your home while also lining up the sale of your house with the timeline of your life. What do you need to know? Sell Your Home When The Market Is Hot First, you should sell your home when the market is hot. This means that there are more people looking for houses than there are houses on the market. This is basic supply and demand. If there is a lot of demand for houses, but there are not a lot of houses for … [Read more...]