Real Estate

According to First American Economist Ksenia Potapov, homeownership—and the equity that comes with it—is one of the most effective ways to build wealth.

A new report reveals that this New England area has become a targeted destination for investors and those seeking second homes. Read on to find out these growing markets, and what destinations to look out for in 2024.

Redfin has made new predictions for the 2024 housing market, leading with the notion that next year may finally turn in favor of buyers as home prices fall and listings rise. Here’s what else they are forecasting.

Millennials outweigh Gen Zers in terms of population, but not when it comes to renter households, according to a new report from the Joint Center for Housing Studies. Daniel McCue, Senior Research Associate, reveals the future of rental housing demand and projects the number of renter households both generations will add over the next decade.

The mortgage subservicer fortifies its Enterprise Portfolio Management Office with the addition of three new Directors, all responsible for driving and implementing strategic programs within the company.

Affordability may make a resurgence in 2024, and markets such as Toledo, Ohio; Oxnard, California; and Rochester, New York are being singled out as potential hot markets. Here are the other markets that are primed to perform next year.

“Financial distress can be a vicious cycle,” said Cassandra Happe, Analyst at WalletHub. “People who can’t make payments on their accounts end up damaging their credit scores, which in turn makes it more difficult for them to qualify for the best solutions to their debt.”

A Bank of America study revealed that the vast majority of prospective homebuyers expect home prices and interest rates to fall in the coming year, so they’re waiting until then to purchase a home. But how likely is that to happen? BofA experts unveil more in their latest Homebuyer Insights Report.

“We expect unemployment to rise modestly next year, which will likely lead to an equivalent rise in borrower defaults,” saidChris Grimes, a Senior Director at Fitch Ratings. “However, strong borrower credit characteristics and favorable home equity build-up for the majority of homeowners should moderate the frequency and severity of ultimate mortgage insurance claims.”

According to a new report, the market will continue to be characterized by highly competitive buyers trying to snap up any and all available inventory.