Having either purchased lower-end homes in need of renovations or unable to move up due to tight housing inventory conditions, millennials are leading the charge when it comes to home remodeling, though they are not the biggest spenders.
Real Estate Trends
A thriving economy and rising home equity have helped pushed mortgage delinquencies to the lowest point since before the Great Recession, with San Francisco claiming the best late-payment rate of any large U.S. city.
Monthly homeowner association dues can be quite an expensive proposition at luxury buildings in cities like San Francisco, but most people who pay them are pleased with the services they receive.
June is National Homeownership Month, and with it comes several reminders as to why owning a home is so important for Americans.
With the official beginning of summer just a couple of weeks away, the high season for backyard barbecues and pool parties will soon arrive, and a significant number of American homeowners are upgrading their outdoor spaces with entertaining guests in mind.
The year 2018 is already almost halfway over, and more home price growth is expected for the remainder, with the nation's serious inventory shortage still a problem for the near future -- especially at the low end of the market.
The Bay Area's real estate market and high-performance economy are currently running at full steam and appear poised to carry that momentum over the long term.
During the current housing cycle, Oakland has become a hot spot for Bay Area homebuyers who are priced out of San Francisco, so it's hardly surprising that a new study ranks the city as one America's fastest-rising real estate markets.
While most American homeowners and prospective buyers probably do not ponder the construction sector on a regular basis, current trends in that industry could affect their wallets in the coming months.
Home sellers in San Francisco and the Wine Country who hope to receive premiums should consider listing their properties in May, while those in Southern California might want to wait until June.
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