There may be some steep competition between the two generations for a dwindling supply of entry-level homes.
Homeowners nationwide felt richer at resale in 2019, particularly those who live out west.
In some metros, single women are achieving double-digit percentages in ownership.
Tensions can arise as more people take on roommates to try to curb rising living costs.
Rent prices for single-family properties rose 3% year over year in November 2019, according to a recent CoreLogic report.
The average mortgage payment is about $1,500 per month, about the same as a rent payment.
“This year is especially important for CRE pros to understand where and how much investment activity to deploy to be successful,” says CCIM Institute’s Chief Economist K.C. Conway.
Home buyers and investors may still be able to unlock bargains in a few foreclosure pockets.
Expect a notable pickup in home sales this year. Read more from NAR’s latest housing report.
Some housing experts are warning that lawmakers’ efforts to remove security deposits on rentals could have consequences on tenants.
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