Take a look through this week’s roundup of real estate news from our Real Estate News Now Blog Series! Don’t forget that there’s something for everyone to read, so whether you click to increase your awareness of the real estate innovations, trends and news article making waves around our country or simply want to share with your circle of influence, make sure to share what articles resonated with you the most in the comments at Champions School of Real Estate’s Facebook and Twitter pages!
“In most of the U.S., a household income of $150,000 means you’re doing pretty well. In San Francisco, it’s probably not enough to buy a home. A report released Monday by mortgage and loan site HSH.com looks at what salary families in 27 metro areas would need to afford the local median home price, including principal, interest, taxes and insurance.”
“Strong buyer demand this spring is pushing home prices up at double the rate of increase in income growth, The Wall Street Journal reports. The median price of an existing home for all housing types was $236,400 in March, up 6.8 percent from a year ago, when it was $221,400, according to the National Association of REALTORS®. Incomes, meanwhile, increased 3 percent in February from a year earlier, according to the Labor Department.”
“While New York may offer the best quality of life for retirees, it’s too pricey for many. Alabama may be one of the cheapest places to live, but the quality of health care there leaves a lot to be desired. And while Minnesota may offer the best health care — and a quality of life second only to that in New York — it is also very expensive.”
“After years of many experts lamenting how Millennials weren’t interested in becoming homeowners, it turns out many are actually diving in. But they’re facing a lot of competition. Millennials are the largest group of homebuyers, according to Ellie Mae, a software company that analyzes mortgage data. In January, Millennials represented around 45% of all purchase loans, up from 42% the same month in 2016.”
“According to researchers at Kansas State University, tiny house villages are environmentally friendly, they promote a sense of community, they encourage healthy lifestyles and habits, and they’re a safe and affordable housing option for the masses. For all of these reasons, the experts are hoping that tiny house villages will spread across the country in the near future.”
Enjoy your read — see you next week! Do you have a response or is there a relevant article I should have included? Send me an email with all questions, opinions, and suggestions to Karla@ChampionsSchool.com!
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