What Boomers Want

New U.S. single-family home sales race to 10-month high

Source: Reuters

According to the Commerce Department, sales rose 10.8 percent to a seasonally adjusted annual rate of 544,000 units, the highest level since February. Sales last month were likely buoyed by unseasonably mild weather and a rise in the supply of homes on the market, which increased choices for buyers. New home sales soared 14.5 percent to 501,000 units in 2015, the highest level since 2007. Economists had forecast new home sales, which account for about 9.1 percent of the housing market, edging up to a 500,000 unit-rate last month. Sales surged in December to their highest level in 10 months, which is the latest indication that the housing sector remains on firmer footing.

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Why Buy?

First-Time Buyers: How Much Down Payment Do You Really Need These Days?

Source: U.S. News Saving enough money for a 20 percent down payment can be daunting task, but the good news is that buyers can often qualify for a mortgage with a lower down payment. Marietta Rodriguez, vice president of national homeownership programs and lending for NeighborWorks America, commented, “The narrative that in order to buy a house in America today you need 20 percent down is just not true. There are a lot of different products that offer low down payment options.” That being said, if you pay less upfront, your mortgage balance is higher, and if you don't make a minimum down payment of 20 percent, you will usually be required to pay private mortgage insurance. Potential home buyers should talk to their REALTOR® for advice on pursuing homeownership. Read the full story

US homes have gotten huge — offsetting the gains from energy efficiency

Source: Vox
  The average size of American homes has ballooned since 1970. While American homes today are about 31 percent more energy-efficient (as measured in energy use per square foot) than they were in 1970, their growing size has negated these gains in efficiency. In fact, since square footage has risen about 28 percent, on average, there's basically been no change in overall energy intensity. That being said, the shift in US population to the South and Southwest has saved energy for heating and cooling homes.
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