PHFA’s COVID Homeowner Assistance Fund Now Accepting Applications
To qualify for this assistance, eligible Pennsylvania homeowners must have experienced a reduction of income or increase in living expenses due to the COVID-19 pandemic.
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The Influence of Technology on Home Showings
Buyers looked at a median of eight homes last year, compared to 12 a decade ago.
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Six Pennsylvania Realtors® Named to the Swanepoel Power 200 List
Howard “Hoddy” Hanna III and Helen Hanna Casey of Howard Hanna Real Estate were named 10th, followed by Larry Flick of BHHS Fox & Roach Realtors® at 67th, then Joan Docktor of BHHS Fox & Roach Realtors® at 79th, followed by Tom Hosack of Berkshire Hathaway HomeServices The Preferred Realty in 141st and Rod Messick of BHHS Homesale Realty in 163rd.
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Smart Home Technology, Home Offices Important to First-Time Buyers
First-time millennial buyers were more likely to want a garden, smart home technology and a main bedroom with a walk-in closet.
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Builder Confidence Dips as Inflation Concerns Loom
The report found that the cost of building materials rose 15.9% in 2021 and have increased 18.6% since December 2020.
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Homeownership More Affordable Than Renting in 58% of Counties
Despite home prices rising in 88% of counties, it still remains more affordable to buy a home than rent.
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Demand for Second Homes Remains Strong
The demand for second homes was up 77% from pre-pandemic levels in December.
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Biggest Challenges Facing the Market in 2022
For 2022, expect home prices to raise 2.9% nationally, with Pennsylvania home prices expected to rise 3.5%.
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Appraisal Changes Coming for Fannie Mae Loans
Appraisers will be required to use American National Standards Institute – or ANSI – Measuring Standard for measuring, calculating and reporting gross living area and non-GLA areas of properties requiring interior and exterior inspections on loans sold to Fannie Mae.
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Pennsylvania’s Housing Prices Up 14% in 2021
The median price in December 2021 was $194,637, up about 9% compared to $178,475 in December 2020.
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