Today's Video Headlines: 11/8/24
Harris campaign's election-eve concerts said to cost up to $20M — as rank-and-file staff, vendors fear they won't be paidTop 10 Cities With the Most New-Construction Homes—and They’re Affordable, TooBut even with the rapid price appreciation over the past few years, the likelihood of a housing market crash is minimal, according to Yun.Gains in home equity weren’t limited to some regions of the country either.
Homeowners smack dab in the Midwest have reason to celebrate as Illinois home prices skyrocketed in the third quarter.“A typical homeowner accumulated $147,000 in housing wealth in the last five years,” said National Association of Realtors® Chief Economist Lawrence Yun in the latest quarterly report.When it came to the priciest markets in the U.S., it’s no surprise that eight of the top 10 were in costly California.
“Despite some short-term swings, mortgage rates are set to stabilize below last year’s levels,” noted Yun. “More inventory is reaching the market and providing additional options for consumers.”Sure, houses are still expensive—but first-time buyers experienced slightly better affordability conditions compared with the previous quarter, which offered a glimmer of hope.Most homebuyers have heard of the “30% rule,” which recommends they spend no more than 30% of their income on a house.
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