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by Ralph DiBugnara & Keyla Rosario on October 12
HOME BUYING STATS YOU NEED TO KNOW
A record share of homebuyers are relocating. According to Redfin’s latest migration report, a record 26% of homebuyers are looking to move to a different part of the country, up from 24% a year ago and roughly 19% before the pandemic began.
Although many of the most popular relocation destinations are more affordable, they are also increasingly susceptible to extreme high temperatures and hurricanes, where home insurers are leaving. Sacramento, Las Vegas, and Orlando are the most popular migration destinations.
Everyone is Talking about Real Estate
Zillow’s housing market report: Residential real estate worth record-breaking $52 trillion
The value of the U.S. residential housing market has rebounded after a short downturn and is now worth a record-breaking $52 trillion, according to Zillow.
The downturn from July 2022 to January 2023 was a “temporary hiccup” as higher mortgage rates led to slower sales and contributed to a dent in the overall value, according to a report released last week by Zillow. Now in just the past year, the market has grown by $2.6 trillion.
Today mortgage tips are sponsored by Cardinal Financial
Fannie Mae Launches New Resources to Help Latino Communities Access Homeownership New Credit Education Course is One of Several Ways Fannie Mae is working to address the Latino Homeownership Gap in America. Building upon Fannie Mae’s HomeView® launch in early 2022 and reaching over 340,000 consumers who completed the homebuyer education course, the company is unveiling HomeView en Español, a Spanish-language digital consumer education platform providing 24/7 end-to-end access to information about financial literacy and homeownership. The course is designed for Latino consumers to leverage it on their own, or to help them plan with trusted advisors.