Deborah Carter's blog

Homes are Still Much More Affordable Than in 2006

If you have the impression that home prices are rapidly approaching unaffordable levels, then we have some information that should make you feel better. While there is no doubt that price growth in the last couple of years has been stellar, homes remain far more affordable now than they were during the height of the housing bubble. In fact, the average monthly home payment in the first quarter of this year required 36.5% of the average worker's wages, down over 48% from 2006's decade high of 70.7%!

Where are Millennials Buying Homes?

Millennials, the generation born between about 1981 and 2001, now represent the largest segment of the U.S. population. Although they have numbers on their side, there is a persistent notion that millennials are uninterested in home ownership and therefore don't contribute significantly to the housing market. Indeed, some spectators have even gone so far as to label them a "generation of renters". However, according to realtor.com's Erik Gunther, this idea is unsupported by the facts. In reality, older millennials were the largest group of homebuyers in 2014! Keep reading to learn about the millennial housing situation and the top 10 areas attracting millennial buyers.

New Homes Sales Have Best Month Since 2008

A newly-released report from the U.S. Census Bureau has shown that new home sales continued to grow in August, even after an upward revision to the number of home sales recorded in July. Sales of newly built, single-family homes rose by a seasonally-adjusted annual rate of 552,000 units, representing a 5.7% increase compared to last month. This makes August the best single month for new home sales since February of 2008!

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