The U.S. Department of Housing and Urban Development released a proposal on Wednesday that would increase the amount of income that Americans living on housing assistance pay toward rent on public housing.Currently, most tenants who receive federal housing assistance pay 30 percent of their adjusted income toward rent. The government then pays the remainder, up to a certain amount. But under HUD’s new proposal, renters would devote 35 percent o
May is the best month to sell a home nationwide, according to a new analysis by ATTOM Data Solutions, a real estate data firm. Researchers evaluated the sales of 14.7 million homes from 2011 to 2017 to pinpoint the month or date that offered the highest sales prices.May saw the largest premiums above the estimated market value of 5.9 percent, on average—higher than any other month during the year.Mark your calendars: The best day of the year to
Buyer demand is high but the number of homes for sale is low. This is prompting more shoppers to stretch their budgets, put less money down, or turn to adjustable-rate loans to prevail in a bidding war for a home.“The frustration with the lack of inventory is, so many of the houses are going in bidding wars, and so you know you really have to step up to the plate and you have to do your homework to be a competitive buyer,” Patrick Clark, a r
Property owners who offer short-term rentals on sites like Airbnb and Getaround have the most lucrative type of side gig today, with the majority earning an average income of $1,000 to $5,000 per month.In March 2018, Dealspotr, a shopping and promotion-based social network, surveyed nearly 10,000 Americans across all age groups to learn about the state of the gig economy. About 500 people who responded said they have side gigs, which accounts for
Juwai.com, a Chinese international real estate website, announced it’s partnering with a tech firm to introduce a line of Mandarin-speaking robots that real estate agents and developers can use to serve Chinese buyers. The firm Singou Technology of Macau will develop the “Butler 1” artificial intelligence robots.The robots could be used in real estate offices to assist with Mandarin-speaking clients.“The robots are really designed to help
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Builders saw more sales of newly built single-family homes last month, as the spring selling season got underway. New-home sales posted a 4 percent increase in March month over month, the U.S. Commerce Department reported Tuesday. New single-family homes reached a seasonally adjusted annual rate of 694,000 units in March, the second highest reading since the Great Recession. The West and South regions of the U.S. led to most of that uptick.“We
Public art has been linked to building booms and price increases for residential real estate. That's why developers and city planners alike are working to weave art throughout new real estate projects and public spaces.“Developers are beginning to see that if they want to attract tenants, they have to offer them more than just four walls,” says Barbara Goldstein, a public art planner and consultant in San Jose, Calif. “We’re going to see
The monthly payment for an entry-level home is on the rise. And the rising costs may be one reason why first-time buyers are making up a lower share of buyers this spring. First-time buyers comprised 30 percent of existing-home sales in March, which is down from 32 percent a year ago, according to data from the National Association of REALTORS®.Monthly housing costs for an entry-level buyer increased $136 to $1,641 nationwide, a 9 percent increa
As rates pressed higher last week, it seems to have been enough to make would-be home shoppers hit the pause button. The Mortgage Bankers Association reported Wednesday that loan application volume—for both refinancings and home purchases—dropped 0.2 percent for the week and are now 0.8 percent lower than a year ago.Applications for both refinances and home purchases stalled last week, with applications to refinance dropping 0.3 percent and a
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