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A new report from ATTOM says it’s now cheaper to rent than own a place in most parts of the country.
“I don’t know what this year is going to bring,” said one experienced Montana agent.
Home prices are high and incomes aren’t keeping up. Some first-time buyers receive loans or gifts from a family member or friend to help with their down payment.
Pending home sales have dipped, and economists expect the market to continue to droop.
This year will see the first year that single family home building has decline since 2011, according to the National Association of Home Builders.
Taylor Jenkins learned the hard way that the Phoenix area had become a top destination for those leaving expensive coastal cities.
September data shows they were still higher than a year earlier, though.
Americans see this as a bad time to buy a home, according to a consumer sentiment survey from the University of Michigan.
“The average days on market has gone from less than a week up to about 89 days,” says broker Amanda Pohlman of Keller Williams Living.
Sawmill Timberdoodle Farm has been investing in new equipment and looking into providing services along with its products, its co-owner says.
