#DHallTheINSIDER buying a home economy housing millennials mortgage real estate

All About that Purchase. [#DHallTheINSIDER]

Photo Source: Architectural Designs

Mortgage Applications for last week were unchanged overall, with purchases up 1% but refinances down 1%.

Homeownership is rising. Millennials are entering the market opting out of renting. Strong job growth, credit eligible buyers, and folks entering into that next stage in life where they want a home are fueling this trend.

There’s been a shift in home builds to smaller homes and townhomes because they’re considered “the perfect bridge from renting to homeownership for first-time buyers.” It’s one solution with builders facing challenges of labor, material costs, and lot availability.

With strong double-digit home appreciation more common in less expensive markets, it’s no wonder Grand Rapids—a booming and demanding housing market—is listed as No. 4 for highest home appreciation. Santa Maria, California has seen a 5-year percentage change of 95%, though. That’s insane.

Hall Financial (NMLS #1467435) was formed in early 2016, founded on a common mission: to be the most client focused mortgage company in the industry’s history. We were going to stop the trend of treating homeowners and homebuyers as transactions and instead, welcome them as family. We were going to treat them like the queen of England. Here, we bring you up to speed and keep you in the know with the latest housing news, home trends, and more!

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