housingmarket
Nationwide, rents remained fairly flat in July. But in some markets, prices soared several dozen percentage points higher than they were a year ago. Jonas Bordo of Dwellsy shares 20 cities across America where renters are experiencing more than a little sticker shock. But when it comes to markets with the fastest-rising rents, well, that’s a different story. This group changes rapidly and unpredictably, and often includes cities you’d never expect. “July’s hottest rental markets are spread all over the country—from the East Coast to the West…and lots are in the Midwest, too,” says Bordo, coaut...
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Utah is the fastest state to sell your home in with an average of 27.07 days taken to close a saleOregon, Georgia, and Wyoming have an average of 31 days to close a saleNationwide, closing a sale on a home takes an average of 33.5 daysWhen transacting real estate, one must consider how long it takes to close the sale, especially if the plan is to sell a home and buy another at the same time. UtahUtah ranks as the easiest state to sell a home, with an average of 27.07 days to close in 2023. This is 4% faster than the same period in 2022, which had an average of 28.43 days to close in the state....
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Hawaii is revealed as the state where it takes the longest time to sell your homeLouisiana comes in second, followed by Mississippi in thirdNew Hampshire ranks as having the shortest amount of time on the market before being soldThese Are The States Where It Takes The Longest Time To Sell Your HomeHawaiiHawaii is revealed as the state where it takes the longest time to sell your home. Hawaii takes the top spot as taking the longest time to sell your home when compared to all 50 states. The median number of days a home in this state is on the market for is 65 days. The metro area within Hawaii ...
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In his podcast addressing the markets today, Louis Navellier offered the following commentary. Crude HijackingThe energy stocks I recommend have been especially strong in the past few weeks. They have been aided by the tension in the Middle East as Iran continues to hijack ships. As a result, the U.S. Navy dispatched two amphibious warships and thousands of Marines to the Middle East to counter Iranian threats. China imported 11.4 million barrels per day of crude oil in the first six months this year, which is 11.7% higher than a year ago. Interestingly, 2.13 million barrels per day of crude o...
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Recently the Biden administration announced that effective May 1, loan applicants with good credit scores will pay higher mortgage fees and subsidize applicants with poor credit scores to create “equitable” opportunities for home ownership. This will sow chaos and confusion in an industry already beset with falling sales due to higher mortgage rates, a shortage of housing, and sellers not wanting to sell at lower rates. Note that the actual dollar value of the higher credit score buyer is still lower than the lower credit score buyer, but the percentages have changed. The higher credit score b...
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Despite economic woes and bank failures, construction shows strength across Q1 In Q1 of 2023, total construction starts were 9% below that of 2022. Year-to-date, residential starts were down 29%, nonresidential and nonbuilding starts grew 6% and 12% respectively. For the 12 months ending March 2023, total construction starts were 11% higher than the 12 months ending March 2022. Nonresidential and nonbuilding starts were 33% and 21% higher, respectively, while residential starts lost 11%. “Construction starts activity has yet to see the impact of tightening financial conditions in the wake of t...
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New Data Drop Brings Good News for Most (But Not All!) Renters Dwellsy’s March data report reveals that nationwide, rents have barely budged since February. However, some markets have seen more major changes in median asking rent. Q1 2023 hedge fund letters, conferences and more “Furthermore, year-over-year changes look downright reasonable,” says Jonas Bordo, CEO and cofounder of Dwellsy, and coauthor along with Hannah Hildebolt of Everything You Need to Know About Renting But Didn’t Know to Ask: All the Insider Dirt to Help You Get the Best Deal and Avoid Disaster (Matt Holt, August 2023, IS...
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The most important chart in housing… The ultimate predictor of home prices… Are we in for another 2008? The 2008 Housing Crash1. You probably remember the 2008 housing crisis all too well… More than eight million Americans lost their homes. Another 10 million lost their jobs. And the average home lost over a quarter of its value. Q4 2022 hedge fund letters, conferences and more Now, many folks think we’re rushing toward another 2008-style housing crash. According to a recent survey by Cinch Home Services, 53% of prospective homebuyers believe the real estate market will crash this year. I unde...
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If you are worried that you may not have enough money at the time of retirement, then you are not alone. However, if you own a home, it could ease your financial concerns by helping you earn more in retirement. This conclusion is based on recent research which found that selling one’s primary home and then relocating to a cheaper housing market could help retirees net $100,000 or more in home equity. How “Retire And Relocate” Could Help You Earn More In RetirementQ4 2022 hedge fund letters, conferences and more Further, the research claimed that homeowners in the top 10 percentile were able to...
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Dwellsy’s February data drop reveals that rents have decreased by a small margin, which is especially good luck for beleaguered single-family home renters. Q4 2022 hedge fund letters, conferences and more “Apartment-dwellers, for whom rent has stayed relatively flat over the past few years, may not feel that they’ve been that lucky,” says Jonas Bordo, CEO and cofounder of Dwellsy. “But folks who live in single-family home rentals (SFRs) are probably thrilled. After January, rent rose an unexpected 7.4 percent, so any decrease, no matter how small, is bound to be a relief.” Bordo says it’s impo...
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