Learning Center

What Is Retail Sales?

Retail Sales measures the total revenue collected from retail stores nationwide - physical and digital - in a given…

9 min read

The Biden $10,000 First-Time Home Buyer Mortgage Relief Credit

The $10,000 First-Time Home Buyer Mortgage Relief Credit is a housing bill introduced by President Biden in his State of the Union Address on March…

What is a Starter Home?

Starter home is a colloquial term for a smaller home with fewer amenities, valued below its county's median home sale…

What is a Homeowners Association (HOA)?

A Homeowners Association, typically called an HOA, is a volunteer organization comprising residents who govern a…

What is Debt-to-Income?

Debt-to-income ratio (DTI) is a measure of a home buyer's monthly cash flow and capacity to repay a…

What is a Credit Score?

A credit score represents the probability that a home buyer will make on-time payments to their mortgage lender for the next 90…

What is Loan Term?

Loan term is the number of months or years a home buyer's mortgage loan lasts.…

What is a Prepayment Penalty?

A prepayment penalty is a clause in some mortgage contracts that states the home buyer must pay a fee for paying off the mortgage within a specified…

What is Equity?

Equity is the financial value a homeowner has in their property, calculated by subtracting the value of remaining mortgage balances from the value of…

7 min read

What is a Conventional Mortgage?

A conventional mortgage is a home loan backed by Fannie Mae or Freddie Mac, the two government agencies that make up the Federal Housing Finance…

What Is A Condominium?

A condominium, often shortened to "condo," is a type of residential property in a larger building or complex where each unit is individually owned,…

2 min read

What is Existing Home Inventory?

Existing Home Inventory is the total number of previously owned homes available for sale at a given…

What is Existing Home Supply?

Existing Home Supply measures the months it would take to sell the complete inventory of existing homes at the current pace of…

What is Existing Home Sales?

Existing Home Sales is a monthly report that counts the number of previously constructed homes, condos, and co-ops sold in the United…

What is a Multi-Unit Home?

A multi-unit home is a residential building divided into multiple housing units, each with a living space, kitchen, and…

What is For Sale By Owner?

For Sale By Owner (FSBO) is a method of property sale where a homeowner sell their home directly, without the services of a real estate agent or…

What is Household Income?

Household income is the combined gross income of all members of a household who are 15 years or older, regardless of whether they are…