DAILY REAL ESTATE NEWS | WEDNESDAY, MARCH 22, 2017
Existing-home sales dropped in February as tight inventory and weakening affordability conditions kept many buyers out of the market in most parts of the country, the National Association of REALTORS® reports. Total sales for existing single-family homes, townhomes, condos, and co-ops fell 3.7 percent to a seasonally adjusted annual rate of 5.48 million, compared to 5.69 million in January, according to the report. However, the pace of sales in February remained 5.4 percent above a year ago.
They cost about $16,000 in today’s dollars. - By Brad Tuttle (This article originally appeared on Money.)
A century ago, the typical American’s salary was $687 per year. That might not sound like much—after factoring in inflation, it’s about $16,500 in today’s dollars—but it was more than enough to buy a house.
What real estate agents need to know about selling homes to millennials - BY BERNICE ROSS
The Aspiring Home Buyer Profile is an in depth examination of the consumer preferences of non-homeowners, defined as those that rent and those that live with someone else (such as family or friends) without paying rent. The Aspiring Home Buyer Profile compares and contrasts the perceptions of homeownership, the American Dream, and housing affordability from the perspective of non-homeowners.
Aspiring Home Buyers Profile - DOWNLOAD (PDF 942.5 KB)