Retail Sales measures the total revenue collected from retail stores nationwide - physical and digital - in a given…
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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…
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Starter home is a colloquial term for a smaller home with fewer amenities, valued below its county's median home sale…
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A Homeowners Association, typically called an HOA, is a volunteer organization comprising residents who govern a…
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Debt-to-income ratio (DTI) is a measure of a home buyer's monthly cash flow and capacity to repay a…
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A credit score represents the probability that a home buyer will make on-time payments to their mortgage lender for the next 90…
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Loan term is the number of months or years a home buyer's mortgage loan lasts.…
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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…
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Equity is the financial value a homeowner has in their property, calculated by subtracting the value of remaining mortgage balances from the value of…
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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…
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A condominium, often shortened to "condo," is a type of residential property in a larger building or complex where each unit is individually owned,…
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Existing Home Inventory is the total number of previously owned homes available for sale at a given…
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Existing Home Supply measures the months it would take to sell the complete inventory of existing homes at the current pace of…
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Existing Home Sales is a monthly report that counts the number of previously constructed homes, condos, and co-ops sold in the United…
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A multi-unit home is a residential building divided into multiple housing units, each with a living space, kitchen, and…
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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…
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Household income is the combined gross income of all members of a household who are 15 years or older, regardless of whether they are…
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Dual agency is when the same real estate agent represents the buyer and the seller in the same home purchase…
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