Housing Statistics and Real Estate Market Trends

The highest return can come from not-so-sexy projects like installing air conditioning if your home doesn’t have cooling, updating the roof, or replacing the hot houselogic.com water heater, Staub adds. Personal style doesn’t always appeal to buyers, and overimproving compared to similar homes in your neighborhood can backfire, Staub says. Plug in your home’s address, and an online estimate may give you a number for what your home is worth.

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The NAR report compared the estimated cost of popular home remodeling projects to real estate professionals’ estimates of the likely dollar value at resale for each project. More homeowners are prioritizing remodeling their kitchen, along with roofs and bathrooms, according to real estate professionals surveyed by the NAR report. View all five seasons of our video series highlighting real stories of first-time buyers as they navigate today’s housing market. Further, about half of homeowners with a mortgage are considered equity-rich, meaning they owe less than half of their home’s estimated market value. Many younger buyers assume that student loans automatically disqualify them from a mortgage, but that’s not true.

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“Spend $1,000 on a new, energy-efficient stove, and it could take 10 years of energy savings to offset the cost of the new stove,” he says. That’s even true for some energy-efficient appliances that boast cost savings. So says Arthur Teel, owner of Asheville Art Installers in Asheville, N.C. Circuit boards break, and energy efficiency numbers don’t always add up, he says.

You don’t need a finance degree to make an informed decision. REALTORS® have access to exclusive, educational resources that equip us to give you insightful and timely advice. REALTORS® are advocates for fair and affordable housing in our communities, and work to eliminate bias from the industry. Informed by proprietary data, local knowledge and NAR’s chief economists, REALTORS® work to keep you ahead of the market. They protect consumers through their expertise and professionalism, anticipating issues and ethically guiding you through a complex process. Partner with a REALTOR® – they have the expertise to help you navigate today’s competitive and often overwhelming market.

• That’ll help make sure you don’t miss a crucial step.
• Housing myths may leave you confused about what’s really happening in the real estate market.
• As more workers head back to the office, homeowners are rethinking their options for a workspace at home.
• Whether you’re hosting a small team meeting or a large training program, we have the space to meet your needs.
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Group them into structural (walls, roofs, etc.); mechanical (HVAC, plumbing, electrical, etc.); and dream projects (kitchen or bathroom remodel, new deck, etc.). Could homeowners be at risk of upgrading their home too much? Fifty-four percent used a home equity loan or line of credit, 29% tapped into their savings, and 10% used credit cards, NAR data shows. In fact, some projects return every dollar poured into the upgrade. Even simple projects — like swapping out a front door — can offer strong returns at resale. The latest remodeling surveys show you may not need to overhaul your kitchen or invest in a top-notch bathroom renovation to make the biggest impact.