Two Michigan zip codes, Livonia and Kentwood, made the list for America’s Hottest Markets but Watauga, TX sealed the No. 1 spot thanks to homes in the area averaging only $185K, an almost impossible price to find and definitely considered affordable for many folks. Not to mention it has some prime schools. We can’t argue those reasons—affordability and education—as a driving force behind homebuyers’ decision making but our vote is with Livonia and Kentwood, naturally.
According to one study, 38% of baby boomers are looking to buy a home within the next few years and they have a list of must-haves: multi-car garages, open decks, eat-in kitchens, and a private yard. Not a bad list of wants. As for why the move: retirement (preferably to Florida, go figure), downsizing, and more desirable location.
Initial Jobless Claims for last week were reported at only 222K but this could be skewed due to recent natural disasters forcing some to either delay reporting or submit paper applications instead of electronic.