The millennial generation - born from 1981 to 1996 - had long been slow to embrace homeownership, studies showed, with many younger Americans in their mid-20s to late 30s reluctant or unable to buy a home.
The median price of a single-family home in Portland, Ore., reached $502,000 last year, a year-over-year increase of 15% in a property market that ranks as one of the hottest in the country.
Homeownership wasn't a priority for the couple before the pandemic, Novak says. But that changed as the global contagion inched closer to the start of its third year. In Washington, D.C., where the median price of a house or condo that sold last November reached an all-time high of $725,000, according to the Greater Capital Area Association of Realtors, younger buyers are fueling much of the sales activity, says Christie-Anne Weiss, vice president and associate broker at TTR Sotheby's International Real Estate.
Home sales surged to a 15-year high in 2021, as low mortgage rates and a protracted pandemic helped fuel higher demand, according to NAR data. Home prices also grew at a record pace across the country last year as buyers in many markets contended with dwindling inventory and a faster pace of sales. The median existing-home price in 2021 reached a record $346,900, up 16.9% from 2020, according to the realty group. The median existing-home price in January reached $350,000, up 15.
"The rental market was pretty competitive," says Patel, an attorney. "And prices were increasing to the point where we knew it would be smarter, financially, to own."
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Treasured Tahoe institution to close next monthIt's slated to eventually be rebranded as part of a luxury resort and high-end housing project.
Lire la suite »
Opinion: California hasn’t seen end of high electricity pricesOpinion: California hasn't seen end of high electricity prices [Opinion]
Lire la suite »
Colorado Housing Group Helping 'Influx' Of Renters Trying To Stay HousedThe number of Coloradans who need help making rent or finding an affordable place to live is going up.
Lire la suite »
Thieves target Tri-Taylor clothing store; steal high-end clothes, jackets and shoesThe owner of the business told CBS 2 four men grabbed high-end clothes, jackets and shoes.
Lire la suite »
Steve Scalise ramps up fundraising ahead of midterm electionsHouse Minority Whip SteveScalise is ramping up his fundraising efforts as Republicans fight to win back the majority this fall, logging more than 8,000 miles crisscrossing the country this year.
Lire la suite »
Two years into the pandemic, people struggle to buy homes in Jacksonville’s limited buyer’s marketTwo years into the pandemic, the local housing market is unrecognizable.
Lire la suite »