A recent partnership with Vrbo, a vacation rental firm, plans to allow homeowners to use income earned through short-term rentals to qualify for a mortgage refinance.
Report: Do Homeowners Fare Better Than Renters?
“The share of cost-burdened renters remained fairly steady over a decade while the share of cost-burdened owners dropped significantly,” new research notes.
Young Adults Put Mortgage Before Marriage
Nearly one in four millennial buyers say they want to buy a home before they tie the knot.
Remodelers’ Confidence Falls Three Points in First Quarter of 2019
The National Association of Home Builders’ (NAHB) Remodeling Market Index (RMI) posted a reading of 54 in the first quarter of 2019, falling three points from the previous quarter. The RMI has been consistently above 50—indicating that more remodelers report market activity is higher compared to the prior quarter than report it is lower—since the second quarter of 2013. The overall RMI averages current remodeling activity and future indicators.
“The demand for remodeling is strong in many parts of the country due to insufficient home construction and an aging housing stock,” said NAHB Remodelers Chair Tim Ellis, CAPS, CGP, CGR, GMR, Master CGP, a remodeler from Bel Air, Md. “However, it can be difficult to find skilled labor for remodeling projects.”
Current market conditions dipped four points from the previous quarter to 53. Among its three major components, major additions and alterations fell seven points to 49, minor additions and alterations waned one point to 55 and the home maintenance and repair component decreased three points to 56.
The future market indicators dropped two points from the previous quarter to 54. Calls for bids fell three points to 54, amount of work committed for the next three months increased two points to 54, the backlog of remodeling jobs fell five points to 54 and appointments for proposals remained steady at 55.
“The Remodeling Market Index declined in the first quarter but remains over 50, indicating the market will continue to expand at modest rates,” said NAHB Chief Economist Robert Dietz. “NAHB’s forecast calls for slowing growth, given declining home price appreciation and existing home sales volume, combined with rising construction costs.”
For the full RMI tables, please visit www.nahb.org/rmi. For more information about remodeling, visit www.nahb.org/remodel.
West Coast Buyers May Face Fewer Bidding Wars
“Last year home buyers had to pull out all the stops to land a home in competitive West Coast markets, but this year there are more homes for sale and the odds are more in the buyer’s favor,” says Redfin’s chief economist.
Report: Owners Aren’t Saving Enough for Remodeling
Homeowners significantly underestimate the costs involved when planning a home improvement project, a new study finds.
West Coast Buyers May Fare Best in Bidding Wars
“Last year home buyers had to pull out all the stops to land a home in competitive West Coast markets, but this year there are more homes for sale and the odds are more in the buyer’s favor,” says Redfin’s chief economist.
Notre Dame Fire Proves Vulnerability of Historic Buildings
Are the world’s historic churches among the most vulnerable? “If they weren’t houses of worship, they’d be condemned,” asserts one fire consultant.
Report: Owners Aren’t Saving Enough for Reno Projects
Homeowners significantly underestimate the costs involved when planning a home improvement project, a new study finds.
T3 Sixty Ranks Top MLSs, REALTOR® Associations
Find out where your MLS and REALTOR® association falls in T3 Sixty’s newly released rankings.
