Our first-house story is an age-old tale: My husband and I were priced out of Brooklyn after the birth of our son. By the time he was 2 years old, we desperately needed to move from our one-bedroom apartment to something larger.
According to a recent Trulia Trends survey, 41 percent of millennials surveyed said that saving for a down payment is their biggest hurdle to home ownership. Indeed, coming up with enough cash for that down payment is a formidable task.
Taking the leap into home ownership is a big deal. Long considered the American Dream, it signals an entry into adulthood that some people crave. Millennials are joining the party -- the average first-time homebuyer in the U.S. is 31 years old. Before you join the ranks, here are some things to do.
At Redfin, we looked into preferences among our own young homebuyers, and found that, what a shocker, men and women disagree on some major stuff. Namely, how long they plan to stay in one home, where they want to live and who they plan to live with.
In the aftermath of the shutdown and debt ceiling debacle, a storm of news media and economists predicted that anxious Americans would spend less through the new year. In the housing market, however, these predictions aren't panning out.
Whether you're looking to buy or sell, get in sync with the rhythms of your local housing market. Home sellers looking for the most buyers should list when search traffic peaks. Home buyers, however, should think about searching off-season -- they might find less competition.
Buying a home is now cheaper than renting in most of the country's housing markets. A litany of recent studies and surveys have almost belabored the point given home values and historically low interest rates.
It may seem bold to be presenting a housing shortage in the middle of what many consider a housing crash; however, the numbers, market conditions and major market inventories are starting to make this startling prediction real.