According to market experts, rental prices are expected to increase next year for much of the nation due to rising demand and tight supply. Experts at Axiometrics, an apartment market researching company, expect a 3.1% growth in rental costs, while Reis, another apartment marketing company has forecasted a 3.3% increase. Research has shown that 50%…

New research suggests that home ownership may be decreasing and rentals rising as the number of seniors increases. Rentals are projected to grow by 40% over the next 10 years as baby boomers downsize and those age 75 and above need more accessible homes. In 2012, 35% of Americans were renting their homes with 43…

According to Freddie Mac, fixed mortgage rates fell this week. The 30-year fixed rate mortgage averaged approximately 4.42%, down .02% from last week. The 15-year fixed rate mortgage also dropped, falling from 3.47% last week to 3.34% this week. Additionally, the total mortgage debt for single-family housing jumped for the first time in nearly six…

According to the Mortgage Bankers Association, mortgage applications have increased from last week, jumping approximately 1%. Refinancing also increased, with the refinance index rising 2% from last week, averaging 65%. The 30-year, fixed-rate mortgage with a conforming loan limit grew .10%, averaging 4.61%, while the 30-year, fixed-rate mortgage with a jumbo loan balance also increased…

A new research survey from RealtyTrac states that 71% of single-family homes in the United States were constructed before the year 1990. 5 years ago when the housing market struggle began, home construction came to a halt, cutting the percentage of new home construction by more than 40%. Home builders began to focus on multi-family…

Foreclosure completions in the U.S. fell approximately one third from last year, averaging 48,000 in October according to CoreLogics National Foreclosure Report. As completed foreclosures decrease, experts and consumers are gaining higher confidence in the housing market. The president and CEO of CoreLogic, Anand Nallathambi said, “the scourge of an elevated foreclosure inventory is easing.…

According to a report from the Commerce Department, new U.S. single-family home sales in October soared, jumping to a seasonally adjusted rate of 444,000, a 25.4% increase from earlier months and the highest rate seen since April 2013. The vice president of mortgage information site HSH Associates, Keith Gumbinger said, “It may very well be…

New research released from Boston College has found that 53% of Americans in 2010 were not prepared for retirement even when adding in their home equity. According to the National Retirement Risk Index, many seniors may be at risk for having a low success rate during retirement even as housing and stock markets seem to…

According to the Commerce Department, U.S. construction spending in October reached the highest level seen in approximately 4 1/2 years. Public construction projects have helped level-out low spending on private projects with an average annual spending percentage of 0.8%, 0.4% higher than many experts had expected. Federal government spending helped aid public construction planning, jumping…

Consumer confidence is suffering as many are still wary from the financial crisis. Experts say that confidence in the economy is necessary in order for the housing market to continue to strengthen. Many consumers have cut back spending, lowering the percentage of home sales in the U.S. 2013’s black Friday event produced the lowest level…