Many Americans are now ready to buy a home, but there’s one problem. We’re seeing housing shortages in many places around the country, and there’s just not enough homes for sale to keep up with the current recovery.
Almost 37% of taxpayers living in the Washington, D.C. area took advantage of the mortgage interest deduction. This was the highest percentage of any other place in the country. They received an average deduction of about $4,580.
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We’ve definitely been seeing some improvement in housing, more so in some places than others. Here’s a list of the 10 Hottest Housing Markets right now.
Demand for new homes has risen, but builders and subcontractors can’t hire quickly enough. This problem is most prevalent in states like Arizona, California, Texas, Colorado and Florida.
After some mortgage restrictions from Finance Minister Jim Flaherty, Canada’s housing sales have plummeted, but their prices have remained relatively stable. The housing sector is expected to undermine Canada’s economy and employment growth.
The benchmark 30-year fixed-rate mortgage rose for the 1st time since mid-March. It has jumped to 3.6%. Just a year ago that rate was 4.02%.