Kitchen storage is a top priority among renovating homeowners, finds the 2021 U.S. Houzz Kitchen Trends Study, based on a survey of more than 2,000 homeowners planning or in the midst of a kitchen remodel. Renovators are paying closer attention to their cabinet and pantry storage.Many of the surveyed homeowners turned their attention to upgrade their kitchen cabinets, either replacing them or refacing the ones they already have. Also, the percent
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Millennials comprise the largest segment of home buyers in the country. Record-low mortgage rates are drawing many into homeownership lately too.LendingTree recently analyzed mortgage purchase requests made on its site through the 50 largest metros in the country from Jan. 1 through Dec. 15, 2020, to see where millennials are most targeting in their home searches. For their study, LendingTree defined millennials as those born from 1981 to 1996.Th
Home buyers’ choices are increasingly limited. The number of homes for sale sank to an all-time low in December, dipping below 700,000 for the first time ever, according to realtor.com®’s Monthly Housing Trends Report. Home buyer demand remains high, causing bidding wars for the few homes on the market. Home prices are up by double-digit numbers compared to a year ago.“The shortage of homes for sale has been an ongoing issue for the last c
Mortgage rates started the year with a new record low. The 30-year fixed-rate mortgage dropped to a 2.65% average this week, the lowest since Freddie Mac began tracking such records more than 50 years ago.“Despite a full percentage point decline in rates over the past year, housing affordability has decreased because these low rates have been offset by rising home prices,” says Sam Khater, Freddie Mac’s chief economist. “However, the forc
Mortgage rates may be at all-time lows, but mortgage affordability continues to worsen due to higher home prices, according to a new analysis by Point2 Homes, an online real estate marketplace.The share of income needed to afford housing continues to rise and monthly mortgage payments are becoming a financial burden in an increasing number of cities nationwide. In 2010, homeowners in 13 large cities were paying more than 30% of their income to co
As remote work has grown and more Americans are no longer bound down to a long commute, more people are being drawn to the idea of a second home. Builders are responding to the uptick in interest.Single-family construction in second-home markets rose at a 13.6% average rate in the third quarter annually compared to a 10.5% pace in other counties, according to data from the National Association of Home Builders.Multifamily development in second-ho
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The pandemic has prompted more people to take on a furry friend, as pet ownership has surged over the past year. About 68 million households now own a pet, according to data cited by Rent.com.Are some cities better for owning pets than others? A new ranking released by Rent.com analyzes data to identify cities with the most pet-friendly apartments, pet-related businesses (such as veterinary hospitals and doggie daycare centers), and pet-friendly
Many of the nation’s most expensive rental markets saw significant price drops in rental units in 2020, some by nearly $1,000 over the course of the year. While the list of priciest markets in the nation remained fairly consistent over the last year, the median price for a one-bedroom apartment in these cities changed drastically, according to a new national rent report released by Zumper, a nationwide rental site.“The price difference betwee