A just-released study by the National Association of Realtors (NAR) indicates baby boomers have now surpassed millennials when it comes to home-buying in the United States. In its 2023 Home Buyers and Sellers Generational Trends Report, the NAR indicates the boomers, aged 58–76, comprised 39 percent of all homebuyers at the end of 2022—a 10-point…
Baby Boomers Replace Millennials as Nation’s Top Home-Buying Generation
Five Factors to Consider Before Buying a Home in 2023
Dear Monty: We are baby boomers that are considering a lifestyle change. We have raised our family here and our children have their own families. We are not scared, but the turmoil we’ve observed during the past two or three years is unsettling. Conflicting views on the economy, interest rate fluctuations, home values and inflation…
US Home-Purchase Cancellations in July Soar as Buyers Pull Back
August 16, 2022
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Business & Marketseconomyhome buyinginflationmortgage ratespersonal financereal estaterecessionUS Real Estate
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New data on home-purchase agreements in the United States for July showed an increasing numbers of buyers canceling housing deals, as higher interest rates tanked the market, according to Redfin. Many buyers are continuing to pull away from the housing market amid rising borrowing costs since rates went up in the first quarter of 2022….
Are Oral Statements Binding in Real Estate Transactions?
Dear Monty: Are oral statements binding in real estate transactions? The seller requested 30 days after close. She moved out before closing and has a new residence. At closing, she made a verbal agreement with everyone in the room. The title officer, both real estate agents, and I heard her say she would be out…
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