Homeowners who spent a lifetime working, raising families and paying mortgages have a greater net worth later in life. Among U.S. families who own rather than rent, a primary residence accounts for 90% of total wealth – and 99% for the bottom 20% of low-income owners.
The Federal Reserve didn’t change rates this week, but it pledged to use its “full range of tools” to support the U.S. economy as the pandemic continues to grow.
Buyers saving money each month for a down payment may find the goalposts have moved. If home prices rise 5%, the amount of money they need to put down does too.
Cabin fever has led more Americans to look for … well, a cabin. An online listing site says interest doubled since 2019, and Google searches are up as much as 235%.
The pandemic tossed traditional “best time of year to buy a home” advice out the window. This year, low inventory and strong demand continue to drive the market.
NAR’s global network extends to 87 countries. New to the list: The Association of Estate Agents in Nigeria and Association of Real Estate Agents of Trinidad and Tobago.