From our friends in KCM
Are you considering buying your first home? If so, it can be helpful to know what led other people to make that decision. According to a recent survey of first-time homebuyers by PulteGroup:
“When asked why they purchased their first home recently, the answer was simple: because they wanted to. Either the desire to stop renting or recognition that homeownership is a smart financial investment was the main motivator for 72% of respondents.”
While that survey looked specifically at first-time homebuyers buying newly built homes, the same sentiment is true for just about anyone buying their first home. Here’s a bit more information to help you think about those two...
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From our friends in KCM
If you’re planning to buy a home, one thing to consider is what experts project home prices will do in the future and how that might affect your investment. While you may have seen negative news over the past year about home prices, they’re doing far better than expected and are rising across the country. And data shows, experts forecast home prices will keep appreciating.
Experts Project Ongoing Appreciation
Pulsenomics polled over 100 economists, investment strategists, and housing market analysts in the latest quarterly Home Price Expectation Survey (HPES). The results show what the panelists project will happen with home prices over the next five years. Here are those expert forecasts saying home...
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From our friends in KCM
You might remember the housing crash in 2008, even if you didn’t own a home at the time. If you’re worried there’s going to be a repeat of what happened back then, there’s good news – the housing market now is different from 2008.
One important reason is there aren’t enough homes for sale. That means there’s an undersupply, not an oversupply like the last time. For the market to crash, there would have to be too many houses for sale, but the data doesn’t show that happening.
Housing supply comes from three main sources:
Homeowners deciding to sell their houses
Newly built homes
Distressed properties (foreclosures or...
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From our friends in KCM
Reaching retirement is a significant milestone in life, bringing with it a lot of change and new opportunities. As the door to this exciting chapter opens, one thing you may be considering is selling your house and finding a home better suited for your evolving needs.
Fortunately, you may be in a better position to make a move than you realize. Here are a few reasons why.
Consider How Long You’ve Been in Your Home
From 1985 to 2009, the average length of time homeowners stayed in their homes was roughly six years. But according to the National Association of Realtors (NAR), that number is higher today. Since 2010, the average home tenure is just...
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The Spruce | By: Lee Wallender
Home renovation is complex and difficult, especially when renovating an entire home. Whole-home renovations can upset your life, strain relationships, and tax your budget. But this is balanced out by the prospect of significantly increased resale value, more and better living space, and a gorgeous home that you'll enjoy living in.
It's important to understand what you're getting into when you choose a whole home renovation. A look at the elements and the basic flow of a major home renovation will give you a sense of what's involved and help you effectively plan the project.
Design and Plan
Whether it's a sketch on a piece of paper or...
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By: KCM
Have you been trying to buy a home, but higher mortgage rates and home prices are limiting your options? If so, here’s some good news – based on what Ali Wolf, Chief Economist at Zonda, has to say – smaller, more affordable homes are on the way:
“Buyers should expect that over the next 12 to 24 months there will be a notable increase in the number of entry-level homes available.”
In some ways, smaller homes are already here. When the pandemic hit, the meaning of home changed. People needed the space their home provided not only as a place to live, but as a place to work, go to school, exercise, and more. Those who had that...
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BY: KCM
Are you putting off selling your house because you’re worried no one’s buying because of where mortgage rates are? If so, know this: the latest data shows plenty of buyers are still out there, and they’re purchasing homes today. Here’s the data to prove it.
The ShowingTime Showing Index is a measure of buyers touring homes. The graph below uses the latest numbers available and compares them to the same month in the last normal years to show just how active today’s buyers still are:
As you can see, when June 2023 numbers are stacked alongside what’s typical for the housing market at this time of year, it’s clear buyers are still active. And,...
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Modern farmhouses and beyond.
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Stanly Ranch, an Auberge resort in Napa, California, isn’t your typical hotel. Instead of one big elevator building, a slew of modern black houses dot the 700-acre property. The sleek villas served as an inspiring setting for Behr’s annual color of the year announcement. The paint purveyor revealed today that Cracked Pepper is its top choice for 2024, and it’s a no-brainer as to where to use it. “It’s the perfect exterior color,” says Sarah Fishburne, Home Depot’s director of trend and design.
Photography by Emily Dorio
Of course, the “soft black,” as Erika Woelfel,...
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By: CALCULATEDRISK BY BILL MCBRIDE
On Friday, in Part 1: Current State of the Housing Market; Overview for mid-August I reviewed home inventory and sales.
House Prices
Reported YoY house price growth remained negative in May, with the Case-Shiller National Index down 0.5%.
The MoM increase in the seasonally adjusted Case-Shiller National Index was at 0.74%. This was the fourth consecutive MoM increase following seven straight MoM decreases.
Most measures of house prices have shown an increase in prices over the last several months, and a key question is Will house prices decline further later this year?
Other measures of house prices suggest prices will be up YoY soon in the Case-Shiller index. The NAR reported median prices were down 0.9%...
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By: Leandra Beabout | Realtor Magazine
Infinitely recyclable glass is going mainstream in core building and design materials.
These days, you don’t have to look far to see upcycled glass. Caterers and restaurants use Mason jars for cocktails and lemonade. DIYers repurpose wine bottles into candle holders or melt them down to create coasters or spoon rests. Glass can also be recycled for large-scale home products like countertops, wall panels and sculptured art.
By some measures, glass is one of the most sustainable materials on the planet. According to the National Institutes of Health’s Chemical Waste Services(link is external) (CWS), it can be recycled infinitely without losing its purity or durability. That...
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