The share of first-time buyers has not increased even with the growing population of 25-34-year-olds because of slow household formation and the delayed transition to homeownership.
Landscape professionals say requests for overall landscape upgrade and landscape management services have been on the rise in the last year.
The economic gains were most noticeable across Europe, where the anxiety sparked by the 2016 United Kingdom referendum decision to leave the European Union gave way to a more tempered outlook.
REALTORS® ranked adding a landscape maintenance service #1 on the list of projects that would bring the greatest value at resale.
The top two outdoor remodeling projects that scored a perfect 10 on the Joy Score were adding a fire feature, such as a fire pit to the backyard, and installing an irrigation system, to make sure all those flowers and plants are watered and looking beautiful.
REALTORS® reported that demand was "very strong" in May 2018 compared to May 2017 in the District of Columbia and in 26 states, led by Wyoming, Idaho, Wisconsin, Rhode Island, Utah, New Hampshire, Ohio, Kansas, Tennessee, Minnesota, Nebraska, Michigan, Colorado, Indiana, Washington, South Carolina, and Massachusetts.
REALTORS® report "low inventory," "interest rates," and "multiple offers" as the major issues affecting transactions in May 2018.
The median sales price of all existing homes sold rose to its highest level in May 2018, to $264,800.
Younger Boomers, buyers aged 53 to 62 years, made up 18 percent of all home buyers in 2017. The median age for this group was 58 years old and they were born between 1955 and 1964. This age group was the most likely to purchase a multi-generational home at 20 percent.
Respondents from the states of Washington, Oregon, Idaho, Nevada, California, Utah, Wyoming, Colorado, and Wisconsin expect the highest price growth in the next 12 months, with the expected median price growth at more than five to nearly eight percent.
Search Economists' Outlook