March 2018

Found 3 blog entries for March 2018.

Millenials Will Spend 45% of Income On Rent Before Age 30

As rent prices continue to rise, a new study shows Millennials are paying about 45% of their total income toward rent, and pay out close to $100,000 toward rent before they turn 30.

Analyzing U.S. Census Bureau data going back as far as 1974, a new study from RentCafé found that Millennials have been the hardest generation for those ages 22 to 30. And the future does not look bright for Generation Z.

As it turns out, Millennials pay about $92,600 in rent by the time they turn 30. While they may earn more in income compared to previous generations, they also have to spend more on rent, the study showed.

During that same age span, from 22 to 30, Gen Xers paid an average $82,200 and Baby

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Home Sales Tumble as Mortgage Rates March Upward

Sales of newly built single-family homes in Arlington TX took an unexpected tumble last month as rising mortgage rates took a toll.

Sales of new homes fell 7.8% in January to a seasonally adjusted annual rate of 593,000 units, according the data from the Department of Housing and Urban Development and the Census Bureau.

“The moderation in new home sales may be attributable to the interest-rate environment, which could be causing short-term market volatility,” said Michael Neal, senior economist for the National Association of Home Builders. “However, the underlying economic fundamentals for housing demand remain strong, and we expect more prospective homebuyers to enter the

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Pending home sales cool to 3-year low

HomeMarket Update by Steve Randall01 Mar 2018 Pending home sales cool to 3-year low The spring homebuying season may be long gone but that doesn’t mean first-time buyers should wait another 6 months to start looking

The winter freeze hit the housing market in January with pending sales reversing a three-month upward trend.

The National Association of Realtors says that all major regions saw a drop in contract signings on both a monthly and annual basis.

NAR’s Pending Home Sales Index was down 4.7% in January compared to December, and at a reading of 104.6 is 3.8% below January 2017 and at its lowest level since October 2014 (104.1).

Mortgage rates rising, and the stubbornly low inventory of available homes was to

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