There has been an increase in home listings during recent weeks as sellers jump to cash in on the current high home prices. New listings climbed almost twice as fast for the four weeks ending May 15 compared to the same period in 2021, according to a May 19 press release by real estate brokerage…
Home Listings Spike as Sellers Look for Buyers While Prices Remain High
May 27, 2022
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Business & Economyeconomyhome listingshome priceshousing marketmortgage interest ratesreal estatesingle-familyUSUS Real Estate
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Is the American Dream of Home Ownership Vanishing?
How much money do we really need to buy a home, and can we afford it? These are questions that real estate agents and mortgage professionals hear every day, and the answer is always the same—it all depends on many different factors. Sheetal Sawhney, originating branch manager at CrossCountry Mortgage’s office in North Bergen, New…
Spiraling Home Costs and Mounting Interest Rates Could Slam the Door on First-Time Buyers
A recent survey from the Federal Reserve Bank of New York indicates U.S. households expect home prices to continue to rise at a faster rate over the next year and that the value of their homes will appreciate at a slower rate over the next five years. In addition, the survey shows that most Americans also…
Housing Bubble 2.0? Correction Fears Intensify as Price, Median Income Gap Widens
The U.S. economy is currently experiencing the hottest real estate market on record, S&P/Case-Shiller U.S. National Home Price Index data show. In February, home prices surged more than 19 percent year-over-year, with the average residential property selling close to $300,000. The last time the U.S. real estate market recorded such exceptional growth was during the…
Hot Housing Market Sees Double-Digit Price Growth in 70 Percent of Metro Areas
Home prices rose by double digits in a record number of markets in the first quarter of 2022 even as mortgage rates rose and home sales declined, according to the National Association of Realtors (NAR). In the first quarter of 2022, 70 percent of 185 measured metros saw double-digit annual price gains, which is up…
Will Higher Interest Rates Tank California Home Prices?
Commentary Home prices keep going up. But for how long? For the first time, in March the median home price in Orange County soared above $1 million, according to the research group DQNews/CoreLogic. Los Angeles County was $840,000. Throughout all Southern California, it was $735,000. But there’s a good chance prices have peaked. Prices largely…
Los Angeles, Orange Counties Home Prices Set Another Record
April 21, 2022
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economyhome pricesLocal NewsLos Angeles CountyOrange CountyRegional NewsRegional-Local NewsSouthern CaliforniaUncategorizedUS
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As the housing demand in California remains strong, the March median sales price in Los Angeles and Orange counties set another record. Los Angeles County had over 5,000 single-family home sales at a median price of $900,000—a 9 percent increase compared to the same time last year, according to Irvine-based CoreLogic (pdf), a real estate…
China’s Home Market Slump Deepens as Declines in Prices and Sales Widen
China’s home market fell at a fast pace at the start of 2022. Even though the government lifted some restrictive policies late last year, the housing market has, so far, not been pulled out of its slump. The value of homes sold in the first two months of 2022 fell 22 percent from last year,…
Home Prices Up Across SoCal While Sales Are Down: Report
March 15, 2022
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home pricesLocal NewsLos Angeles CountyOrange CountyRegional NewsRegional-Local NewsSan Diego CountySouthern CaliforniaUncategorizedUS
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LOS ANGELES—The most recent housing market report shows home prices rising across Southern California, with a nearly 12 percent increase in Los Angeles County from last year, 26.6 percent in Orange County, and 16 percent in San Diego County. The median price of an existing, single-family home in the Los Angeles metro area was $725,000…
Miami Ranks Least Affordable US City, Edging Out the Big Apple
March 10, 2022
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Business & EconomyeconomyFloridahome pricesInvestmentLocal NewsMiamiNew York CityNY Real Estatereal estateRegional-Local NewsUSUS NewsUS Real Estate
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Miami has always been a world-renowned tourist destination with its pristine white-sand beaches, palm trees, warm tropical climate, and exciting nightlife. But now the second-largest populated city in Florida is also famous for being ranked the least affordable housing market in the United States—even surpassing New York City. RealtyHop’s Affordability Index Report analyzed the median…
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