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Luxury Home Growth Outpaces Typical Home Appreciation

Luxury Home Growth Outpaces Typical Home Appreciation

by Phil Hall | Jul 31, 2024 | News/Current Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

Luxury home value growth has outpaced appreciation on typical homes for the fifth consecutive month, according to a new data analysis from Zillow (NASDAQ:Z, ZG). The typical luxury home – which Zillow defines as the most valuable 5% of homes in a specific market – is...
The New Normal: Million-Dollar Starter Homes

The New Normal: Million-Dollar Starter Homes

by Phil Hall | Jul 25, 2024 | News/Current Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

First-time homebuyers in 237 cities are finding the typical starter home is priced at $1 million or higher, according to new data from Zillow (NASDAQ:Z, ZG). Five years ago in the pre-pandemic housing market, only 84 cities offered $1 million starter homes....
Zillow: Price Cuts on One-in-Four Listings in June

Zillow: Price Cuts on One-in-Four Listings in June

by Phil Hall | Jul 16, 2024 | News/Current Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

Nearly one-quarter of listings (24.5%) received a price cut during June, according to new data from Zillow (NASDAQ:Z, ZG). Last month’s share marked the highest rate at this time of year since Zillow began tracking this data in 2018. Zillow also noted that home value...
The City with the Biggest Annual Rent Hike Is…

The City with the Biggest Annual Rent Hike Is…

by Phil Hall | Jul 10, 2024 | News/Current Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

Connecticut’s capital city of Hartford is leading the country for rent hikes, according to new data from Zillow (NASDAQ:Z, ZG). Rents have grown 7.8% over the past year in Hartford, the greatest annual spike in any major city; the current typical rent in Hartford is...
Can Minimum Wage Earners Afford to Buy a Home?

Can Minimum Wage Earners Afford to Buy a Home?

by Phil Hall | Jun 26, 2024 | News/Current Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

Question: Can a U.S. worker earning the minimum wage be able to afford to buy a home? The answer is: Yes, but it will take a lot of time to save for a down payment. A new study by Salt Lake City-based BadCredit.org compared Zillow home prices over the past year to...
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