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Schmidt Mortgage Company Blog

Starter homes are gaining equity faster, new study reveals

woman holding money in house-shaped box

Owners of starter homes across the country are gaining equity faster, as demand for entry-level homes continues to grow. According to a recent analysis from Zillow, U.S. homes in the most affordable segment gained 8.5% in value over the past year, compared to a 3.6% gain in the most expensive housing segment. When stretched across the last five years, the trend is even more pronounced. People who bought started homes in 2013 have seen their equity grow by 44.4%, while owners of luxury homes in the highest price range have seen their equity grow by just 26.6%. As starter homes grow

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Housing Starts Up Nearly 10% in January

Construction on new homes in the U.S. soared in January, as housing starts jumped nearly 10% to an annual rate of 1.33 million. That marks the second highest level since the Great Recession. According to the latest housing starts report from the U.S. Census Bureau, privately-owned housing starts in January were at a seasonally adjusted annual rate of 1,326,000 — 9.7% above the revised December estimate of 1,209,000 and 7.3% above the January 2017 rate of 1,236,000. Building permits, which are an indicator of future housing starts, increased 7.4% in January. This was higher than the revised December rate of 1,300,000

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Builder confidence for 55+ housing market hits record high

baby boomers looking at computer

The market for single-family homes designed for people 55 and older reached a new high in the fourth quarter of 2017. Builder confidence in the 55+ market hit a level of 71, up 12 points from the previous quarter, according to the National Association of Home Builders’ (NAHB) 55+ Housing Market Index (HMI) released February 1. This is the highest reading since the inception of the index in 2008. Worth noting is the fact that the fourth quarter’s record high was pushed largely by strong demand and not necessarily sales.  Chuck Ellison, chairman of NAHB’s 55+ Housing Industry Council and Vice President-Land

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Akron

1953 Englewood Ave.
Akron, OH 44312
Phone: (330) 798-4677
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Rocky River

20545 Center Ridge Road
Suite 250
Rocky River, OH 44116
Phone: (440) 356-3242
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Willoughby

35104 Euclid Ave.
Suite 202
Willoughby, OH 44094
Phone: (440) 953-0447
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