Housing
There’s a shortage of luxury apartments in Manhattan, and it’s driving up prices
Guests attend a pool party in the penthouse apartment at the 50 United Nations Plaza building in New York. Michael Nagle | Bloomberg | Getty Images A shortage of luxury apartments in Manhattan is causing a surge in prices at the top of the market, even as broader apartment sales and prices come under pressure […]
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Mortgage demand shrinks as interest rates hit the highest level in nearly 23 years
Ryan Ratliff (L), Real Estate Sales Associate with Re/Max Advance Realty, shows Ryan Paredes (R) and Ariadna Paredes a home for sale on April 20, 2023 in Cutler Bay, Florida. Joe Raedle | Getty Images News | Getty Images Mortgage interest rates just hit a level not seen since the year 2000. As a result, […]
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Sales of newly built homes reverse course, drop nearly 9% in August
Sales of newly built homes fell 8.7% in August from July, to a seasonally adjusted annualized pace of 675,000 units, according to the U.S. Census Bureau. That is the slowest pace since March. Sales were still 5.8% higher than August 2022. The Census count is based on signed contracts during the month, and mortgage rates […]
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Home sales stick near recent lows in August, but prices continue to climb
A “For Sale” sign is displayed in front of a home in Arlington, Virginia, on August 22, 2023. Andrew Caballero-Reynolds | AFP | Getty Images Sales of previously owned homes fell 0.7% in August from July to a seasonally adjusted, annualized rate of 4.04 million units, according to the National Association of Realtors. Sales were […]
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Homebuilder sentiment goes negative for the first time in 7 months, thanks to higher mortgage rates
U.S. homebuilders are feeling pessimistic about their business for the first time in seven months, thanks to stubbornly high mortgage rates. Builder confidence in the single-family housing market fell 5 points in September to 45 on the National Association of Home Builders/Wells Fargo Housing Market Index. The decrease follows a 6-point drop in August. Anything […]
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Prices for New York Metropolis resorts will increase as Airbnb cracks down on short-term rentals, JLL states
Kevin Davis, JLL Hotels & Hospitality Group’s Americas CEO, suggests New York Town inns are dealing with the “strongest booking tempo for the ahead 6 thirty day period period” because 2015. Source
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Mortgage desire stalls at a stage not viewed because 1996
A “For Sale” signal hangs in entrance of a residence in San Mateo County, California, Aug. 22, 2023. Liu Guanguan | China News Support | Getty Photographs Bigger property finance loan fees go on to take their toll on mortgage demand, particularly for refinancing. Overall home loan application quantity dropped .8% last 7 days compared […]
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Apartment rents are on the verge of declining due to massive new supply
Apartment rents have been cooling off sharply for several months, and they look like they’re about to go negative compared with a year ago. Rents in August were just 0.28% higher than August 2022, according to real estate tech platform RealPage. Compare that to a year ago, when rents were posting 11% annual growth. With […]
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Home prices may be on the verge of cooling off
A ‘House For Sale’ sign is displayed on August 30, 2023 in Los Angeles, California. Mario Tama | Getty Images After rising steadily since January, home prices may now be turning lower again. The latest read on home prices shows they hit another all-time high in July, rising 2.3% from the same month last year, […]
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British isles home revenue set to strike their cheapest considering that 2012 as home finance loan sales plummet
Properties in England. Christopher Furlong | Getty Pictures Information | Getty Pictures LONDON — The quantity of residences marketed in the U.K. this year is set to achieve the most affordable yearly figure considering that 2012, true estate enterprise Zoopla uncovered in its most current property price index produced on Wednesday. The report displays an […]
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