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‘Prices may dip’ in some markets: 5 economists and real estate pros on what to expect from this ‘in transition’ housing market
Source: MarketWatch --- Though mortgage interest rates have been slowly ticking up — with some pros saying we may see more of that (you can see the lowest mortgage rates you can get here) — summertime homebuyers have likely noticed that housing price growth doesn’t...
Housing Market Warning as Prices Suddenly Fall in One U.S. City
Source: Newsweek --- Continuously rising house prices have sparked warnings of a looming crash in the real estate market, but one analysis has shown that a city with soaring prices is already seeing a dip in property values over the last month. Data last month from...
‘Fewer signed contracts, fewer bidding wars’: A slowdown in Manhattan real estate may be a grim warning for the U.S. housing market
Source: MarketWatch --- First, the good news. The median sales price for residential properties sold in Manhattan rose to a record high in the second quarter, up 10.6% annually to $1.25 million, while the average sales price reached its third-highest on record, a...
Is Homeownership Still the American Dream?
Source: Keeping Current Matters --- Defining the American dream is personal, and no one individual will have the same definition as another. But the feelings it brings about – success, freedom, and a sense of prosperity – are universal. That’s why, for many...
Scores of Pandemic Homebuyers Purchased Vacation Homes With High Natural-Disaster Risk
Source: Redfin --- Many pandemic homebuyers purchased vacation homes, which are frequently vulnerable to natural disasters. In 2020 and 2021, purchases of second homes with high flood risk rose 45% from the prior two-year period (2018-2019), according to a Redfin...
CoreLogic: Another big home-price increase in May, but slowdowns are coming
Source: Scotsman Guide --- CoreLogic’s latest Home Price Insights (HPI) report revealed that home prices nationwide, including distressed sales, rose 20.2% year over year in May — a still-strong annual jump, but one that’s likely to precede a period of slowing price...
A new kind of South Temple conversion: Office tower will be turned into apartments
Source: Salt Lake Tribune --- As downtown Salt Lake City’s boom in residential construction rolls ahead, developers have purchased a high-profile office tower along South Temple with plans to convert it into luxury apartments. Hines, a global real estate company based...
Metaverse Real Estate: Has the Hype Already Cooled Down?
Source: Bankless Times --- In 2021, virtual real estate prices in the Metaverse grew by an incredible 700%. Besides, this is only the beginning: the market is expected to grow 31% year-on-year in the next six years, as the rush to secure space within the virtual...
China’s real estate crisis deepens as big Shanghai developer defaults
Source: CNN --- Hong Kong (CNN Business)Another major Chinese developer has defaulted on its debt, dealing a new blow to the ailing real estate sector in the world's second largest economy. Shanghai-based Shimao Group failed to pay the interest and principal on a $1...
Housing correction is ‘dead ahead,’ warns Moody’s chief economist Mark Zandi — here’s how he sees things playing out over the next several months
Source: Yahoo Finance --- Home prices across the United States continue to rise, with the entire country seeing an increase of over 1% between April and May this year, according to the National Association of Realtors. It’s even higher in some parts of the country,...
