Buying & Selling Homes with The Collura Team

Buying a Home is Cheaper Than Renting in the  Majority of the US The results of the  2018 Rental Affordability Report   from   ATTOM show that buying a median-priced home is more affordable than renting a three-bedroom property in 54% of U.S. counties analyzed for the report. The updated numbers show that renting a three-bedroom property in the United States requires an average of 38.8% of income. The least affordable market for renting was Marin County, CA, just over the Golden Gate Bridge from San Francisco, where renters spend a staggering  79.5% of average wages  on rent, while the most affordable market was Madison County, AL where  22.3% of average wages  went to rent. Other interesting findings in the report include: · Average rent rose faster than income in 60% of counties · Average rent rose faster than median home prices in 41% of counties · While median home prices rose faster than average rent

Some Highlights: A trend that has been emerging for some time now is the contrast between inventory & demand in the Premium & Luxury Markets vs. the Starter & Trade-Up Home Markets and what that’s, in turn, doing to prices! Inventory continues to rise in the luxury & premium home markets which is causing prices to cool. Demand continues to rise with low inventory in the starter & trade-up home markets, causing prices to rise!