A new survey shows that real estate agents are more confident about the state of the market than many consumers. Seventy-seven percent of home buyers and sellers say they believe there’s a housing price bubble where they live, according to a Redfin consumer survey of 1,500 respondents who plan to buy or sell in the …
77% of Consumers Believe We’re in a Housing Bubble Read More »
Building material prices, production bottlenecks, and labor shortages will continue to dampen the pace of construction and affect home prices this year, economists told a crowd at the 2022 International Builders’ Show in Orlando. Building material costs have surged 21% compared to a year ago. Further, more than 300,000 job openings went unfilled in …
Supply-Chair Woes Continue Slowing Home Construction Read More »
Home sellers will likely continue to hold the upper hand this spring, says a housing report from realtor.com® that also uncovered upcoming trends this spring. Buyers are likely to become more sensitive to price increases. Mortgage rates are on the rise and are expected to continue to increase this year. As home shoppers face …
The spring market is already blooming, and so is the competition. Buyer competition intensified ahead of spring in February and likely will intensify further over the next few weeks. On average, there were nearly five offers for every home sold in February, higher than in recent months, according to the February 2022 REALTORS® Confidence …
Competition Heats Up with 5 Offers Per Home Sold Read More »
Offering an alternative to stock photo services, HomeJab has launched a new non-fungible token or NFT marketplace specifically for original real estate images. The NFT marketplace is called “real” and will grow its offerings as demand increases. It currently features images of destinations like historical landmarks, streetscapes, downtown areas, commercial hot spots, parks, bridges, …
Last year, home buyers spent nearly $3 trillion on real estate—the highest ever. That exceeds previous highs by more than $600 million that were set in 2020 and 2005, CoreLogic reports. Home prices are the main culprit behind that surge. By the end of 2021, home prices were 50% above their highest peak before the …