Simply Homes, Inc.

08/20/2024

A recent analysis highlights the growing housing affordability issue for teachers, who can now afford just 14% of homes near their schools, a sharp decline from 39% in 2019.

While rental affordability has seen slight improvements, these statistics underscore the need to address housing affordability for those who play a vital role in our communities, as many educators still face challenges in securing housing within their communities.

Read more here: https://hubs.la/Q02LK9x20

07/11/2024

Cuyahoga County (Pittsburgh, PA) homeowners face potential tax hikes as property values increased by 32%. However, property-tax bills won't increase at the same rate, as some homeowners may experience modest increases or even decreases, depending on their location. Nevertheless, informal appeals are being accepted until August 30, giving homeowners an early opportunity to push back.

See why here: https://hubs.la/Q02G3y2C0

06/26/2024

A renter's experience of the housing market really depends on where they are right now[VIDEO]

Igor Popov, Apartment List chief economist, joins 'Squawk Box' to discuss the rental market in the U.S., impact of rising rents on the housing market, and more.

06/26/2024

Looking for a low mortgage rate? Keep an eye on these three important dates that could bring significant rate cuts:

- First, July 11, when the inflation report might show a further drop.

- Next, July 31, when the Federal Reserve announces its next steps on interest rates and inflation.

- Finally, on August 1, when the Fed's moves will have had time to impact the rate climate.

Read why here: https://hubs.la/Q02D11l60.

06/25/2024

Philadelphia program aims to create affordable housing developers [AUDIO] https://hubs.la/Q02D17z20

People without access to capital are getting into housing development in Philadelphia. It's part of a program designed to create more affordable housing and boost non-traditional developers.

06/25/2024

Existing home sales fell for the third consecutive month in May, declining by 0.7%, as rising mortgage rates and record-high prices still deter prospective homebuyers.

Despite the slowdown, home prices have risen for the 11th consecutive month, reaching an all-time high, with the median sales price increasing by 5.8% compared to the previous year, reflecting a 51% rise over the past five years.

Contributing factors include elevated mortgage rates and the "lock-in" effect, where homeowners with low fixed-rate mortgages below 3% or 4% hesitate to sell. Additionally, the tight supply of homes for sale has been a constraint, although inventory is gradually increasing.

Read more here: https://hubs.la/Q02D0tF-0.

06/12/2024

The housing market crisis reveals a flaw in the Federal Reserve's strategy to lower inflation, as the rate hikes implemented have slowed overall prices but are also keeping inflation sticky due to how homeownership costs are factored into key metrics.

Experts argue that the current methodology used to estimate the cost of homeownership is flawed, leading to an overestimation of implicit costs for homeowners. Additionally, the aggressive hiking has worsened the housing supply shortage, driving up costs for buying and renting.

Read more here: https://hubs.la/Q02B7NZh0

Simply Home's Bulletin - The most insightful news on real estate.

06/11/2024

More affordable homes are entering the market, which is as good news as any.

According to https://hubs.la/Q02B7jMH0, there has been a 46.6% increase in homes priced in the $200,000 to $350,000 range across the country, indicating a growth in affordable options. Additionally, inventory has risen for the seventh consecutive month, with all 50 largest metro areas seeing an increase in active listings.

Read more here: https://hubs.la/Q02B7GSC0

06/07/2024

U.S. housing market needs 1.5 million more homes, Freddie Mac finds

Freddie Mac: To address a housing shortage, the U.S. housing market needs '1.5 million vacant for-sale and for-rent homes.'

06/06/2024

The housing market continues to worsen for buyers as elevated borrowing costs push up monthly outlays, making it more challenging for first-time homebuyers. Compared to last year, the cost of financing 80% of a home has increased by over 7%. To afford a home, households now need to earn approximately $120,000 a year, $6,400 more than before.

Read more here: https://hubs.la/Q02zRSG00

05/22/2024

Renting is crucial for any affordable housing plan to work, but nothing shows how much of a problem it is than the fact that buying a starter home is $1,027 (60.1%) higher than renting in the country's 50 largest metropolitan areas.

https://hubs.la/Q02x-JFj0

Mortgage rates remain high throughout the U.S. and a lack of supply is keeping home prices up.

05/22/2024

Nearly 40% of new mortgages issued in 2023 went to homebuyers under 35, while 26.5% went to buyers aged 35-44. The breakdown of homebuyers by age has remained stable over the past five years, with younger Americans being the most common mortgage borrowers.

Despite their prominence in the market, younger buyers still have lower homeownership rates compared to older Americans.

Read more here: https://hubs.la/Q02xZQM20