![]() If your post is not visible, check the new queue. A mod will review it and take appropriate action. If you see spam, report it & send ModMail with a link to the post, downvoting doesn't always work, because blogspammers use bots. Here are some other subreddits you may enjoy: ![]() ![]() Investment Property Formulas to Familiarize Yourself With: Solicitors and advertisers will also be banned. Please report folks who are doing this so we can remove their posts. No soliciting or advertising - no links to blogs or youtube channels or social media.Pitching your specific properties for sale is frowned upon (i.e. We believe if redditors owned all the property, the world would be a better place. NO PROMOTION, MARKETING, SOLICITING, or ADVERTISINGīuying your first house? Choosing a real estate agent? Looking for a Realtor? (DYK Realtors pay annual fees of $600.00 for the distinction of having the trademarked propernoun attached to themselves?) A full time investor? Buying your first duplex? Buying a Short Sale or an REO or Foreclosure? This is the spot for first timers, secondtimers, landlords, rehabbers, flippers, and buy-and-holders. No blog posts, circlejerking, and karmawhoring posts here. Or set your flair to indicate your location - users can set their own flair in this sub.Īrticles are permitted when they foster relevant discussion, or involve some sort of question (please link to original sources) Please note links posted are automatically filtered and will need to be approved manually, message the mods if this happens to you. Please indicate the location in the thread title, for example:, ,, ,, ,, or similar. Redditors sharing home ownership knowledge, real estate market knowledge, mortgage/lending and property investment expertise. Zillow found the monthly mortgage on a typically valued home was just under $1,800 (the second highest on record), 22% higher than it was last year and double the May 2019 mortgage payment.Ĭhicago’s monthly mortgage payment was $1,565, a $677 increase from 2019.Filter: Financing | First Time Homebuyer | Buying | Selling | Investor | Landlord | Rental Nationally, the typical home value is $346,856, up 0.9% from last year and up 3.4% from January’s low.Ĭhicago’s average May home value was $302,085, up 1.9% from April.Īs home values grew, so too did mortgage rates. ![]() Home values across the country grew 1.4% from April to May, the strongest monthly appreciation since June 2022, according to Zillow. Homes for sale on Zillow in May were down 3.1% from last year and were down 46% from May 2019. ![]() New listings in May fell 23% from last year as inventory is down to record lows for this time of year, according to the report. Time will tell if seasonal price slowdowns arrive on time this year, later in summer.” “Spring is traditionally the hottest time of year in the housing market, and 2023 has been no exception. But those who do have been rewarded with bidding wars as buyers compete for limited options,” said Jeff Tucker, Zillow senior economist. “Many homeowners are still opting not to sell and give up historically low mortgage rates. ĭespite few options and those increasing mortgage rates, which have deterred homeowners from listing their properties, April sales rose 10% from April to May as inventory hit record lows last month. Buyers are once again in bidding wars over available homes as potential sellers continue to wait out rising mortgage rates, according to Zillow’s latest market report. The summer market is hotter than it’s been in years. Homebuyer competition is driving up prices, as inventory constraints continue to plague the real estate market. ![]()
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