End your week right with the latest in real estate news:

Millennials and first-time homebuyers are spending a lot more on renovations, survey finds
The 25-to-34-year-old age group spent an average of $26,200 last year on upgrades, a seven percent increase from 2015. This year is set to be another banner year, with more than half of homeowners saying they plan to start renovations in 2017.

Experts agree: Chances of recession are rising
The Fed’s yield curve, a leading indicator of economic futures and the possibility of a recession, is flattening. Experts estimate anywhere from a 5-30% chance of a recession in the next four quarters.

Homebuilding finally shaking off recession
This year show signs of being home building’s strongest year since 2007. Yet, just as the industry is returning with some strength and momentum, it also faces new challenges.

How to put your listing lead generation strategy on steroids
Old real estate marketing standbys, like “contact me to find out what your home is worth,” can be revamped using today’s lead generation technology. All you need are the right tools.

How to get your house ready to sell
When selling a home, we all know it’s important to make a good first impression. Agent Christopher Gucciardo with Better Homes and Gardens Atlantic Shores says depersonalizing the home, by removing pictures or evidence of pets, helps buyers imagine themselves living there.

First-time buyers should consider several home-search factors
Millennial home buyers are struggling to find a home they want – at a price they can afford. Amy Lippincott of BHGRE Gary Greene explains that millennials often lowball their offers. She advises first-timers to research the marketplace and find a Realtor they trust to guide them.

Tight inventory heats up Westchester housing market
Tight inventories are driving housing prices up and increasing bidding wars among buyers. Joseph Rand with Better Homes and Gardens Rand Realty explains current housing trends and the challenges buyers face in a seller’s market.