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Tag Archives: Zillow

Million Dollar ZIPs

Increasing home prices aren’t a trend that just the middle and lower classes are experiencing—those in the million-dollar range are noticing, too. In fact, some of those that used to not have a million-dollar price tag now do.

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What Homeownership Really Costs

New data shows the average U.S. homeowner spends more than $9,000 in maintenance, repairs, and other assorted costs. The question is: are consumers factoring these expenses when homebuying?

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The Week Ahead: What’s the Generational Difference in Equity?

The current home market is one filled with heartache for the buyer. While home values are reaching or exceeding the peak values that were set during the housing bubble, inventory is falling rapidly—the fastest since 2013. Take a look at articles coming out on the housing market next week as well as what else is coming in the week ahead.

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Mortgage Payments Unaffordable in Most U.S. Markets

Today’s ever-increasing home prices have made their mark: Buying a home is now unaffordable in more than half of the nation’s biggest markets. And in California? The straits are even more dire. According new analysis, the median price of homes for sale is historically higher than average in the majority of America’s largest metros, meaning buyers need to devote a larger-than-expected share of income toward mortgage payments and, more significantly, down payments.

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What’s Keeping Homeowners from Moving?

According to a recent report, if American homeowners moved at the same rate they did in 1990, there would have been about 2.8 million more homes sold in 2016. This would solve the ongoing inventory problem, but the fact is Americans just aren’t moving, for a number of reasons. The report cites three possible reasons for a non-moving population: an aging population, pockets of high negative equity, and an increase in single-family rentals.

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Orlando Best for First-time Buyers

Orlando is the single best spot for first-time homebuyers, according to a new analysis. Tampa took the No. 2, followed by other cities in the Southeast and Midwest. The analysis took into account median home value, forecasted values, inventory, and other factors.

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Summer’s Not Just for Sellers

New data shows that August is the best time for homebuyers. According to recent analysis, housing inventory is up significantly by the end of summer, causing many sellers to reduce their listing price. In fact, buyers who wait until late summer may actually pay less than if they’d bought during other times of the year.

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Most Renters Can Buy Without Monthly Increase

The average American renter can now purchase a home more expensive than the nation’s median home value, while keeping their monthly housing budget the same. This was true in 37 out of 50 markets analyzed. The current national median rent is $1,416 per month—just enough to handle the monthly costs of a property valued at $289,505, including property taxes, maintenance, and insurance payments.

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