US real estate news

Manhattan Is Now a ‘Buyer’s Market’ as Home Prices Decline Due To Rising Inventory

The average sale price of real estate properties in Manhattan fell by 3.3% in the second quarter of 2024.

Boomers Struggled More Than Millenials in Buying Their First Homes Due to High Home Prices and Mortgage Rates: Realtors

An analysis found that boomers needed to spend 33.2% of their median income to make mortgage payments during their prime homebuying years.

15 US Cities Where Home Prices Are Declining: Report

In some cities, home prices fell by 14% from the last quarter of 2023. At least 15 cities in the United States are now seeing home prices decline even as the values of houses soared in 93% of the country's metro areas.

Will the US See Another Housing Bubble Amid Soaring Home Prices?

The median sale price of a home in the U.S. is no $420,401, marking a 4.8% increase from last year. Home prices are soaring across the United States despite elevated mortgage rates, leading to concerns of a potential housing bubble.

Low-Income Homebuyers Have Lost Their Pandemic Progress Due To Elevated Prices and Mortgage Rates: Report

Roughly one in five mortgages issued in 2023 went to low-income homebuyers, down from over 23% of all mortgages issued in 2020.

10 Cities Requiring the Highest Income To Buy a Home: Report

In all 10 cities, a hopeful homebuyer would need to earn more than $150,000 annually to afford a home.

Here’s What May Happen if Mortgage Rates Don’t Fall In 2024

Mortgage rates for the 30-year term were at 7.24% as of Monday. Mortgage rates remain elevated as inflation tops 3%, with the average 30-year mortgage rate now over 7%.

Concord Woman Sued by Developer Who Mistakenly Built a House on Her Lot Without Her Permission

The mistake was only realized after the construction was complete and the house was in the process of being sold.

Biden Administration to Cap Rent Hikes for Some Affordable Housing Units

The cap will limit the amount property owners can raise rents at 10%. The Biden administration has put a cap on how much rents can be increased in some affordable housing units subsidized by the federal government.

US Home Listings Post Biggest Increase in Nearly 3 Years; Inventory Hits High Not Seen Since 2020: Report

The number of listings of homes for sale rose 13% in the four weeks ending February 25. The spring housing market is looking quite promising as new listings rose by more than 10% year-over-year, and the inventory saw significant improvement.

US Homebuyers Have Gained $40,000 in Buying Power as Mortgage Rates Fall: Report

The median monthly mortgage payments also fell to $2,545 at a rate of 6.7%. The average homebuyer in the United States has gained at least $40,000 in spending power as mortgage rates cooled after soaring past 8% in October 2023, according to a report.

Mortgage Rates Drop To Lowest in 7 Months, Homebuilder Sentiment Surges

The mortgage rates for both the 30-year and 15-year terms dropped in the week ending Jan. 18. Mortgage rates fell in the week ending Jan. 18, dropping to the lowest level recorded in seven months.

Howard Lutnik Believes US Real Estate Market Will See 'Generational' Shift in 2025

Lutnik said he believes the country's real estate market loans could hit a default of $1 trillion by 2025.

These 57 Counties Now Have the Worst Home Affordability Rates for Typical US Households: Study

The study focused on counties with populations larger than 250,000 and a population growth rate higher than 0.55% national average.

National Office Vacancy Rates in the United State Hit a New Record in 40 Years

The national office vacancy rate hit the highest office vacancy recorded in the U.S. since 1979 as businesses shift to a hybrid work setup.

NAR President Announces Resignation After Receiving Blackmail Threats

Tracy Kasper took over the presidency in August after then-president Kenny Parcell stepped down due to sexual harassment allegations.

Real Estate News: Indianapolis Named Best Place for First-Time Home Buyers

In the recent real estate analysis done by Zillow it was revealed that Indianapolis is the friendliest city for first time home buyers.

Real Estate News: New Report Reveals Manhattan as the Worst Place to Rent in the US

A recent study revealed and confirmed that renting in Manhattan is prohibitively expensive and the worst in a wide range of criteria.

America's Fastest Growing Neighborhoods & Why They Made It to the List

America's fastest-growing neighborhoods were identified by Realtor.com. With fastest growing, they point out to places where opportunities for jobs abound, neighborhoods are increasing, and new houses and apartments are being established to meet the locations' demands.

Real Estate News: Downtown Miami Among Fastest-Growing Neighborhoods in the US

According to a recent study, downtown Miami is one of the top booming towns across America. According to the recent study by Realtor, downtown Miami is one of the top booming towns across America.

Real Estate News: The Real Reason Why Millenials Are Not Homeowners

Despite the low prices of homes recently, many millenials are still struggling to become homeowners.

EDITOR'S PICKS

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  Gov. Gavin Newsom Expedites Temporary Housing For Residents In Areas Struck By LA Wildfires

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  Pasadena Native Lost Her House To LA Wildfires One Day After Paying Off Her Mortgage: 'It's Gone'

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  How The Mircale Malibu Mansion And Pacific Palisades Home Survived The Devastating LA Fires

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  What Happens To Your Mortgage And Property Tax When You Lose Your Home In A Natural Disaster?