Existing-home sales soared 24.7% in July, outpacing their record growth of 20.7% in June, when the nation’s economic reopening ignited homebuying activity, the National Association of REALTORS® reported Friday. Now 8.7% higher year over year, the strong rise in existing-home sales—including single-family homes, townhomes, condominiums, and co-ops—is fueling optimism in the real estate market through the rest of the year.“The ho
Utility bills can add up, especially in a pandemic that has forced people to spend more time at home. On average, renters are spending between $100 to $150 per month on utilities, whereas homeowners are paying an average of $400 per month, according to Move.org.Home shoppers would be wise to inquire about the average utility costs of homes they’re looking at to help avoid sticker shock when they get their first bill. Move.org provides the follo
Home loan activity through the Department of Veterans Affairs has jumped to a new high, climbing 114% since the beginning of the 2020 fiscal year, according to VA data. Refinance loans are a big portion of the increase, with homeowners looking to lock in lower mortgage rates.During the first three quarters of fiscal 2020, the VA loan program backed more than 865,000 loans—a record high. The VA’s fiscal year doesn’t end until Sept. 30, and i
As mortgage rates remain low and people look for pandemic-safe getaways, vacation homes are growing in demand, according to Vacasa, a vacation rental management platform.“We’ve seen a surge in demand for vacation homes across our portfolio, and real estate transactions are up as much as 35% in some of our vacation rental markets across the county when compared to July 2019,” says Shaun Greer, vice president of sales and marketing at Vacasa.
Video tours are a growing method to help home shoppers narrow their prospects during the pandemic. But not being able to see the home in person has its limitations. Real estate professionals will want to be sure they zoom in on the right features and offer insights to help their clients avoid buyer regret—especially if they decide to make a “sight-unseen” offer.The kitchen can be a tough room to show off on video, but it’s often an import
Housing is giving a boost to the economic recovery and housing inventories. Single-family and multifamily construction jumped nearly 23% last month, the Commerce Department reports. This marks the highest production rate since February.Broken out, single-family construction jumped in July by 8.2% to a seasonally adjusted annual rate of 940,000. The multifamily sector, which encompasses apartment buildings and condos, rose 58.4% to a 556,000 pace,
East Coast housing markets are dominating this year. Helping these markets to boom: millennials who are migrating away from city centers in search of affordable housing and space to raise a family, according to realtor.com®’s newly released 2020 Hottest ZIP Codes Report.The top 10 hottest markets on realtor.com®’s list this year share some traits: easy access to downtown amenities and outdoor space, relative affordability with a vibrant loc
iPro currently deals throughout the states of California, Texas, Florida, and New York. We continue to strive and broaden opportunities for real estate professionals and consumers. Visit iprore.com for the latest information and links.Click here for information on becoming a salesperson.
Florida may be seeing high numbers of COVID-19 cases, but that hasn’t stopped house hunters from rushing to the Sunshine State. Florida has been the top destination to move to during the pandemic, according to HireAHelper’s newly released migration report, which is based on more than 25,000 moves booked since March 11. HireAHelper is an online marketplace for finding and booking moving transportation services.Fifteen percent of moves booked s
Seventy-two percent of renters say they would rent an apartment without ever seeing the property in person if a 3D virtual tour was offered, according to a recent survey conducted by Zumper, a rental marketplace, and Matterport, a 3D and virtual service company. Just like home shoppers, renters are turning to online tools to find a home during the pandemic, and property managers are increasingly seeking out nontraditional ways to allow potential
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