Nearly 80 percent of Generation Z members say they want to own a home before age 30, but a new study shows they will need to do plenty of saving beforehand. Indeed, Generation Z will need to save $304 a month for the next 12 years to buy a home with a 10 percent down payment plus closing costs on a median-priced home by the age of 30, according to a new study released this week by realtor.com®.The median-priced home in the U.S. is projected
Millennials are facing plenty of roadblocks to homeownership: high student loan debt, record high home values, stagnating incomes, and high rents. Yet, in particular areas of the country, these young adults are still increasingly finding ways to become homeowners.SmartAsset, a personal finance website, recently ranked places based on where millennials are buying the most homes. They looked at the current rate of millennial homeownership and compa
More listings are facing price cuts, particularly among the nation’s largest markets. Fifteen percent of U.S. listings saw a price cut in January and more homes spent longer on the market, according to realtor.com®’s latest housing report.Thirty-nine of the 50 largest markets saw an uptick in the share of price reductions compared to last year. The greatest increases in price reductions in January were in Las Vegas (up 16%), followed by San
Offering short-term rentals through Airbnb is growing in popularity among homeowners and investors. And it’s no wonder—with Airbnb attracting guests from all over the world, hosts in major cities profit by an average of $20,619 annually, according to iPropertyManagement, a research and information site. In the U.S. alone, booking have increased 45 percent in the past year.The fastest growing demographic of property owners becoming Airbnb
The Federal Reserve voted to leave interest rates unchanged Wednesday and signaled that it’s not in any hurry to resume raising rates in 2019. Fed Chairman Jerome Powell used words like “patient” to describe the Fed’s latest approach to increases. His change in tone follows four rate hikes last year. The Fed’s benchmark rate is not directly tied to mortgage rates but does often influence them.Since the Fed has indicated a more cautious
The right job in the right place can do wonders in a person’s quest to save for a down payment and make a solid path toward homeownership, according to a new study by PropertyShark, a real estate website.PropertyShark researchers looked at several job professions to see how well they pay in each city in the U.S. and then ranked the cities for best prospects of homeownership based on occupation. They factored in metrics like the median income of
Pending home sales fell at the end of 2018, as consumers became increasingly concerned about the economy and heightened home prices, according to a newly released housing index from the National Association of REALTORS®.NAR’s Pending Home Sales Index—a forward-looking indicator based on contract signings—decreased 2.2 percent to a reading of 99 in December. Contract signings are down 9.8 percent year over year.“The stock market correctio
Pittsburgh, Cleveland, and Oklahoma City are the best cities for first-time home buyers hoping to jump into homeownership, according to a new study released by LendingTree.The three cities ranked on top of a new list released from LendingTree that stacked the 50 largest metros up against each other based on how friendly they are to first-time home buyers. Cities were ranked on six main factors, including down payment amount, the share of buyers u
About Khris Khris Vancil holds a bachelor's degree in agriculture from Cal Poly San Luis Obispo where he moved in 1999 to attend college. Khris was born in Portland, Oregon and attended primary school in the small town of Moab, Scottsdale, Arizona, San Jose, California, and Salem, Oregon. He obtained his real estate license in 2016.Khris developed his love of real estate in high school and college where he put himself through school
Many parts of the U.S. have been struck with a snap of subzero temperatures. While keeping themselves warm during the bitter cold, homeowners also need to take precautions to keep their home safe, too.In Wisconsin's capital, the Madison Water Utility posted a photo on Twitter to show homeowners how a burst pipe can damage a home. The photo was taken at a vacant home in Madison. “They shut the heat off, so then the water burst up in th
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