The National Association of Realtors reported a 5.4% drop in sales of previously owned homes in June compared to May, with 3.89 million units sold on a seasonally adjusted, annualized basis. This represents a 5.4% decrease from the same period last year, marking the slowest sales pace since December. These closed sales are reflective of
Real Estate
Are you considering buying a home in the near future? It’s important to assess your financial readiness before taking the leap. According to recent analysis by Zillow, millions of renter households in 2022 would have been able to buy a home that year. However, many renters may not even realize that they are in a
The recent drop in mortgage rates to the lowest level since March has sparked a surge in demand for refinancing. According to the Mortgage Bankers Association, applications to refinance a home loan jumped by 15% last week compared to the previous week. This increase in demand pushed refinancing activity to its highest level since August
Housing affordability is about average in The First State, but your Delaware housing dollar gets a big boost from very low property taxes. Delaware homeowners paid an effective tax rate of less than half a percent, according to real estate data firm ATTOM. That is the fourth-lowest in the country. The state has an Economy
The senior housing sector is poised for significant growth as the American population continues to age. As baby boomers, born between 1946 and 1964, reach retirement age, the demand for senior housing is expected to increase. Bank of America analyst Joshua Dennerlein believes that the industry is on track for a recovery, with senior housing
In recent years, the housing market has undergone significant changes, particularly in terms of mortgage rates. The 30-year mortgage rate, a common option for home buyers, has been a key factor in shaping the market. With rates hovering around 7%, which is significantly higher than the sub-3% rates seen in the early days of the
Step inside the luxurious $60 million dollar mansion located in Delray Beach, Florida, known as Mar Pietra. This impressive estate spans over 23,000 square feet and exudes old-school Italian charm with its limestone-clad exterior, featuring 300 stone columns and vaulted ceilings. However, what truly sets this property apart is its hidden subterranean space, which boasts
Land subsidence is becoming a major issue in many U.S. cities such as New Orleans, New York City, Miami, and south San Francisco. This phenomenon has the potential to severely impact the integrity of buildings and infrastructure within these urban areas. Additionally, when combined with rising sea levels, land subsidence can significantly increase the risk
It is no secret that the high cost of living has made it increasingly difficult for young adults to achieve financial independence. A recent report from Bank of America revealed that 46% of Gen Zers between the ages of 18 and 27 rely on financial assistance from their families. This dependency on parents highlights the
The real estate market in San Francisco has been facing significant challenges, with the vacancy rate for office space reaching a fresh record of 34.5% in the second quarter. This is up from previous quarters and years, signaling a broader struggle across the market. The average asking rent has also dropped considerably, further indicating the