Trends
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The biggest changes were found in mortgages that are in serious delinquency, meaning those that are at least 90 days delinquent.
The decision to rent or to buy was once a question of finances and lifestyle preferences, but the coronavirus pandemic has added yet another complex layer to the equation for many Americans.
First-time buyers contributed to 31% of September’s home sales due to record-low mortgage rates, according to the report.
The third quarter was like a game of musical chairs for many who are abandoning large cities for more affordable areas of the country. See what’s happening in Atlanta.
Areas hit hard by the pandemic could see a wave of zombie properties once the federal ban on foreclosures expires.
Another 16% of U.S. residents would consider leaving the country if their candidate loses, up from 9% in 2016.
The new S&P CoreLogic Case-Shiller Home Price Index reveals record-breaking August for home sales, up 21% over the 2006 pre-Great Recession high.
A new report from Coldwell Banker Global Luxury captures the changing demographics and preferences of luxury buyers.
“It’s almost as if the housing market and the overall economy are operating in different worlds.” — Todd Teta, chief product officer at ATTOM Data Solutions
“The slight decline in bidding wars (nationally) is largely a reflection of a seasonal cooldown, which typically starts in the late summer but was delayed by a few months this year,” said Redfin chief economist Daryl Fairweather.
Homesellers continued to sell homes to each other in September, making the market resemble a game of ‘housing musical chairs,’ according to First American chief economist Mark Fleming.
“If sky-high prices continue to lure more sellers into the market, it could prompt the inventory rebound we’ve been waiting for — which would be welcome news for frustrated buyers.” — Javier Vivas, director of economic research for realtor.com
“Increasing house price appreciation in suburban zip codes points to higher demand relative to supply in the suburbs but does not necessarily indicate what’s fueling the demand,” the study notes.
The work from home phenomenon — and the need for a dedicated home office— is driving demand for more space among both buyers and renters.
The suburbs are becoming more alluring to residents of major cities as the COVID-19 pandemic continues into autumn.
See how Atlanta compares to other cities when it comes to apartment conversions.
