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☆ The new American dream is buying a house with friends: 'It's a co-parenting model, it's a co-economy model, and it's a really great friendship and support model'
▼ + stars: | 2022-10-02 | by ( Juliana Kaplan | Alcynna Lloyd | ) www.businessinsider.com time to read: +8 min

"It's a co-parenting model, it's a co-economy model, and it's a really great friendship and support model," Pfefferkorn said. It's been "amazing and challenging," Pfefferkorn said, especially as both kids grew up, and one brought a grandchild into the home. "We're at a time now that our expectations for what success looks like is very different," Pfefferkorn said. For Pfefferkorn, the next dream is to buy an eight-bedroom house to turn into a communal retirement home someday. "My friend's mother is selling her house, and she has an eight bedroom house," Pfefferkorn said.

☆ 10 US cities where homebuyers can find a good deal right now
▼ + stars: | 2022-09-28 | by ( Alcynna Lloyd | ) www.businessinsider.com time to read: +2 min

It's an interesting moment in which several cities are boasting housing deals not seen in years. However, for those who can still afford a home purchase, there is some good news — the real estate market is becoming less competitive. With less Americans purchasing homes, prospective buyers are finally beginning to see home price declines in cities across the country — some more than others. To determine what markets present a good deal for homebuyers, Realtor.com analyzed housing data from the nation's 250 largest cities. Its researchers were able to identify that several cities across the country are softening for homebuyers.

☆ Spring and summer 2023 will finally be a good time to buy a home
▼ + stars: | 2022-09-27 | by ( Alcynna Lloyd | ) www.businessinsider.com time to read: +3 min

Inflation and interest rate hikes have made it even more expensive to buy a home. In addition, a slowing economy overall could bring 30-year mortgage rates back down. As economic volatility further seeps into the US real estate market, housing activity is fading fast. That's because inflation and interest rate hikes have dampened affordability for many would-be shoppers, leading to a steady decline in buyer demand. This combination of cooling prices and declining mortgage rates could indicate the typically busy real estate seasons of spring and summer could ring in a more affordable housing market in 2023.

☆ U.S. home sales post seventh straight monthly decline in August
▼ + stars: | 2022-09-21 | by ( Lucia Mutikani | ) www.reuters.com time to read: +4 min

"High prices and Fed rate hikes will likely remain constraints for sales going forward," said Rubeela Farooqi, chief U.S. economist at High Frequency Economics in White Plains, New York. Economists polled by Reuters had forecast sales decreasing to a rate of 4.70 million units. House prices typically slow in July and August. There were 1.28 million previously owned homes on the market, unchanged from a year ago. The NAR attributed the higher cash sales share to people needing loans to buy a home dropping out of the market.

☆ U.S. housing starts rebound in August; building permits decline
▼ + stars: | 2022-09-20 | by ( ) www.reuters.com time to read: +3 min

Housing starts rebounded 12.2% to a seasonally adjusted annual rate of 1.575 million units last month. Data for July was revised down to a rate of 1.404 million units from the previously reported 1.446 million units. Economists polled by Reuters had forecast starts would come in at a rate of 1.445 million units. Permits for future home construction dropped 10.0% to a rate of 1.517 million units in August. A survey on Monday showed the National Association of Home Builders/Wells Fargo Housing Market sentiment index fell for the ninth straight month in September.

☆ U.S. home builder sentiment falls for ninth straight month in September
▼ + stars: | 2022-09-19 | by ( Lucia Mutikani | ) www.reuters.com time to read: +3 min

REUTERS/Octavio JonesWASHINGTON, Sept 19 (Reuters) - Confidence among U.S. single-family homebuilders fell for the ninth straight month in September as soaring mortgage rates and persistently high prices for building materials made new housing less affordable for many first-time buyers. The National Association of Home Builders/Wells Fargo Housing Market index dropped three points to 46 this month. Mortgage rates have surged even higher. According to a Reuters survey, housing starts likely slipped to a seasonally adjusted annual rate of 1.445 million units last month from a pace of 1.446 million units in July. Permits for future home construction are, however, expected to have declined to a rate of 1.610 million units from a pace of 1.685 million units in July.

Find out what your state provides for first-time homebuyers:Programs in the NortheastConnecticutThe Connecticut Housing Finance Authority gives loans for down payment assistance. Programs in the SoutheastAlabamaThe Alabama Housing Finance Association has down payment assistance programs for low-to-moderate income earners, and a tax credit program that can be combined with down payment assistance. If you're buying a home in Louisville, you might qualify for a down payment assistance loan from the local government. WashingtonThe Washington State Housing Finance Commission has several down payment assistance programs that will loan you up to $10,000. The lender is also the one who will approve and process any applications for down payment assistance, closing cost assistance, or tax credits.

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