Amid strong demand and tight supply, REALTORS® reported that properties that sold in October 2017 were typically on the market for 34 days, down from 41 days in October 2016.
It is estimated that value of owners’ household real estate was increased by 1.4 trillion in the last year and 116 billion came from home price increases in September.
We look at how fast properties are selling and the price appreciation in these areas, using market data from realtor.com.
Eighty-nine percent of respondents reported that home prices remained constant or rose in October 2017 compared to levels one year ago.
Multi-generation homes are becoming more common and the importance of living close to friends and family.
Overall, all regions are displaying growth in property values with only a few states showing no growth or losses.
Commercial real estate (CRE) deals at the higher end—$2.5 million and above—comprise a large share of investment sales.
At the national level, housing affordability is up from last month but down from a year ago. Mortgage rates increased to 4.15 percent this September, up compared to 3.78 percent a year ago.
The new tax reform legislation allows homeowners to take the deduction on their first $500,000 of mortgage debt, half of the current threshold.
Recent home buyers who were active-duty service members made up 3% of all recent buyers, and veterans made up 18% of all recent home buyers.
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