Prospective homebuyers' patience may be waning, with fewer willing to wait until home prices or interest rates come down to purchase a home, according to new data from the Bank of America Homebuyer Insights Report (PDF). Today, 62% are willing to wait for prices and/or rates to fall before buying a home, down from 85% just six months ago. And they seem to be taking action: Sales of new single-family houses in September 2023 were a seasonally adjusted 759,000 – up from 679,00 sales in April 2023.
Two nonprofits addressing New Jersey's economic mobility and underserved neighborhoods will expand their impact footprint with help from a multi-year $200,000 grant from Bank of America. Anchor House and CUMAC Echo Inc. have been named as the 2023 Neighborhood Builders® awardees for their work toward decreasing food insecurity and youth homelessness in New Jersey.
Portfolio diversification can be a valuable tool, but it's clear that legendarily successful investor Warren Buffett isn't a fan.