65% of first-time home buyers rented their previous residence, and 24% lived with friends or family. More first-time buyers are coming from living with friends/family as they save up a stronger downpayment to compete in this market.
More insights:
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The Bible that was found in North Carolina, which was wrapped around a pole from Hurricane Helene and was opened to Revelation 14 and 15, has now been encased
C. Dan Joyner's vision of trust and community launched C. Dan Joyner, REALTORS® in 1964. From a single office with three employees to a leading force in Upstate real estate. We celebrate 60 years of connecting families to their dream homes, honoring C. Dan's legacy.
Calculating data from the U.S. Census Bureau's Survey of Construction Data shows that the one-year growth in built-for-rent single-family housing starts grew to 90,000 units in 2023 (from 81,000 units in 2022).
https://t.co/t2WOqapF02
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First-time homebuyers made up a record share of agency purchase loans in 2023: First-time homebuyers made up 55% of agency purchase mortgages in 2023, the highest such share in the 10 years ICE has been tracking the metric. https://t.co/jHKGNVpKeE
“The housing market is off to a good start this year, as consumers benefit from falling mortgage rates and stable home prices,” said Lawrence Yun, NAR chief economist. #NARPHS
The best way to deal with freezing pipes = prevent them in the first place.
Our guide breaks down everything you need to know to protect your home from water damage this winter. ⬇️
https://t.co/2SyolSxXzL
32 states had inbound moving rates higher than 50% in 2022. Affordability issues and the ability to work remotely drove Americans to move to neighboring or cheaper states; Florida and Texas were leading with the highest migration gains that year. https://t.co/mT8OmQ5tdr
First-time buyers were responsible for 27% of sales in June; Individual investors purchased 18% of homes; All-cash sales accounted for 26% of transactions; Distressed sales represented 2% of sales; Properties typically remained on the market for 18 days. #NAREHS