U.S. Housing Market
Luxury Home Sales Up 5% in September
The only two metros where prices dropped were Tampa, Florida (-3.3% to $1.45 million) and Oakland, California (-2.2% to $2.9 million). Continue Reading Luxury Home Sales Up 5% in September
Illinois Home Sales Up 4.6% Year-Over-Year
The monthly median price of $301,000 in September was 3.8% higher than $290,000 from one year before. Continue Reading Illinois Home Sales Up 4.6% Year-Over-Year
Utah’s Largest Mansion Goes Up for Auction This Week
The residence includes a dining room table that can seat up to 42 people and a home theater that can accommodate up to 62 movie lovers. Continue Reading Utah’s Largest Mansion Goes Up for Auction This Week
North Carolina’s Wake County Votes to Raise Property Taxes, Cut Affordable Housing
The county’s budget includes pay raises from 1% to 3.5% for 5,000 public employees. Continue Reading North Carolina’s Wake County Votes to Raise Property Taxes, Cut Affordable Housing
Listings Go Live at Brooklyn’s Tallest Residential Tower
The Brooklyn Tower features 143 luxury condominiums available for immediate occupancy. Continue Reading Listings Go Live at Brooklyn’s Tallest Residential Tower
New factors are influencing the residential real estate market
Source: The Berkshire Edge --- This month, Berkshire real estate professionals have been discussing home inventory, buyer demand and how an environment with rapidly changing mortgage interest rates may impact sales in the months ahead. At the close of the third...
PropTech Sector Sees Growing M&A Interest as Macro Trends Reshape Real Estate Market
Source: William Blair --- Technological innovation is disrupting the residential real estate sector as investors and innovative companies seek to address all parts of the homebuying value chain and improve the experience of both real estate agents and consumers. Key...
Seven Charts Highlight the Strangeness of the Housing Market
Source: Planetizen --- Reporting for Bloomberg, Tracy Alloway and Joe Weisenthal examine the weirdness in today’s unprecedented housing market. “Yes, mortgage rates have shot up, crimping affordability. But at the same time, unlike in the era prior to 2008 and the...
Wraparound Mortgage: What Is It And How It Works
Source: Forbes --- If you’re having trouble qualifying for a traditional mortgage, there may be another financing option available. A wraparound mortgage is a form of seller financing that’s designed to benefit both parties in the purchase. Buyers may have a better...
Billionaires Have Growing Appetite for Real Estate As Market Slows
Source: Yahoo Finance --- While the world’s wealthiest people earn their money in a variety of ways, many add to their fortunes through investing in real estate, which typically appreciates in value. Tesla Inc. and SpaceX CEO Elon Musk, the world’s richest man, made...
A millionaire landlord has 3 tips for anyone thinking of buying rental real estate right now
Source: Business Insider--- One of my biggest financial goals is to invest in real estate. I've always wanted to own a handful of properties, all around the country, that I rent out to tenants as a way of making passive income. While I'm years away from being in the...
10 Commercial Real Estate Market Trends and Predictions to Watch Out For in 2023
Source: Commercial Observer --- The annual Allen Matkins View From the Top brings together the top real estate economists, owners, investors, developers and brokers in Western Region commercial real estate. Now in its 15th year, View From the Top remains a key source...
New York City’s Housing Shortage Continues
Source: Planetizen --- Writing for New York 1, Emily Ngo highlights the shortage of housing, particularly on the lower end of the market, that is squeezing New York City renters. “In an interconnected New York, market forces and policy, profit and politics all play a...
These 5 charts show the depth and seriousness of the U.S. housing downturn. Expect a ‘further weakening in demand.’
Source: MorningStar --- Goldman Sachs economists say they expect rates will 'remain persistently high' The U.S. housing market has been pushed into a recession, helped by pandemic-era prices and mortgage rates now surpassing 7%. "The headwind from higher mortgage...
US Housing Market Cooling Off from West to East
Source: Fitch Ratings --- Fitch Ratings-New York-10 October 2022: Fitch Ratings estimates that U.S. home prices were overvalued by 12.2% for 2Q22 on a population-weighted average basis, according to a new Fitch Ratings report. Fitch expects that the overvaluation will...
