Real Estate Market Trends

The Myth of the 20% Down Payment

When people think about buying a home, they are often discouraged by the idea of saving enough money for the down payment. Indeed, surveys have shown that the greatest impediment to home ownership for prospective buyers is the down payment. However, many potential buyers have the false notion that a mortgage requires 20% of the home's purchase price paid up front. In reality, the median down payment in 2018 was only 13%, and many buyers paid even less than that!

Which State Edged Out Montana for Having the Largest Yards?

How large (or small!) is an average home's yard in each state? It's a relatively simple question, but one which yields a massive range of answers. In fact, the yards in the highest-ranked state average almost 74,000 square feet, while those in the last-place state are a measly 4,300! It probably won't come as a shock to learn that Montana is right up near the top, landing at #2 on the list, but the #1 state seemed like a considerable underdog. Keep reading to learn which homeowners have the most outdoor room to roam on their property!

Buyers Rejoice! Affordability Is Improving

After a years-long seller's market, conditions are finally shifting in favor of prospective home buyers! That is the finding of data and analytics company Black Knight's latest Mortgage Monitor Report, which examines mortgage performance, housing, and public records information each month to determine current trends in real estate. The report describes how the continued slowdown in annual home price appreciation and the recent drop in mortgage interest rates are combining to provide relief to hopeful buyers who had been facing an affordability crunch.