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Many military families, caught in a housing crunch, are suffering this PCS season
Source: Military Times --- Service members and their families across the country are feeling the sting of the hot housing market as they move to new duty stations. Many are paying out of pocket for longer stays in temporary lodging, waiting longer for on-base housing...
Single-Family Rental Growth Rate in U.S. Doubles Annually in April
Source: The World Property Journal --- CoreLogic's latest U.S. Single-Family Rent Index (SFRI) shows a national rent increase of 5.3% year over year in April 2021, up from a 2.4% year-over-year increase in April 2020. While rent growth dipped significantly last April...
7 in 10 Home Buyers Still Face Bidding Wars in U.S.
Source: The World Property Journal --- National property broker Redfin is reporting that in May 2021 over 70% of home offers written by Redfin agents faced competition, down from a revised rate of 73.6% in April 2021. That's still up significantly from 52.7% in May...
Existing home sales fall again despite gain in for-sale inventory
Source: MPA --- Existing-home sales, weighed down by rising prices and low inventory, fell for the fourth consecutive month in May. According to the National Association of Realtors, total existing-home sales were down 0.9% to an annual pace of 5.80 million – the...
Lumber prices plummet as sawmills crank up output, easing inflation fears
Source: Chicago Tribune --- From sawmills to store shelves to your own hammer swings, lumber can tell you a lot about what is going on in the economy right now. Lumber prices soared over the last year, frustrating would-be pandemic do-it-yourselfers, jacking up the...
Real estate tech startup Side raises $50M more at a $2.5B valuation as it preps for an IPO
Source: Tech Crunch --- Side, a real estate technology company that works to turn agents and independent brokerages into boutique brands and businesses, has raised “$50 million-plus” in a funding round that more than doubles its valuation to $2.5 billion. The latest...
Fed official says another boom-and-bust housing market is not sustainable
Source: Market Watch --- Eric Rosengren, the president of the Boston Fed, expressed concern over the housing market in an interview with the Financial Times, and it comes as data shows house prices soaring. The median price for an existing home sale skyrocketed 24% in...
End to COVID-19 hotel housing for homeless raises worries
Source: Yahoo News--- Everyone on the streets knows “Sir Charles," the skinny guy with the saxophone, sunglasses, felt hat and megawatt smile. At a gig this week at the iconic Elbo Room beach bar, he danced with a soda in his hand as the bouncers teased him, the...
Los Cabo’s Luxury Real Estate Market Is Reaching New Heights
Source:Yahoo News --- Los Cabo’s Luxury Real Estate Market Is Reaching New Heights In Mexico’s famed beachy paradise destination, these seven upscale communities boast everything from lush gardens to scuba diving
Florida Real-Estate Investor Has Huge Week With Nearly $99 Million in Property Sales
Source: The Wall Street Journal --- Hot on the heels of a $44 million deal to sell a pair of Bal Harbour, Fla., properties to WeWork founder Adam Neumann, Florida investor Joseph Imbesi has made another major sale. Mr. Imbesi closed on a nearly $55 million deal to...
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