Real Estate

Real estate development, sales, and market trends.

ARTICLES

  • Renovation spending will slow in 2020 after record-setting year, Harvard report says

    Soft housing market will crimp demand for renovations
    While renovation spending rose to a record at the end of June and will reach a new high by the end of 2019, a slowdown is on the horizon. Americans spent $322 billion on remodeling and home repairs during the 12 months ending in June, a 6.8% jump from a year earlier, according to Harvard University’s Joint Center for Housing Studies. However, 2020 will be a different story.
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  • Fewer Millennials are seeking mortgage help from parents

    For younger homebuyers, relying on parents, renting out spaces and bunking with roommates are becoming a thing of the past
    Millennial homebuyers are less likely to take extraordinary measures to be able to afford their mortgage payments in 2019, according to a study from Redfin, which says that more Millennials are leaving roommates and renting in the past.
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  • Foreign buyers flee the U.S. housing market, led by Chinese and British

    Top states for foreign purchases were Florida, California and Texas
    China’s currency controls, as well as international tensions between the U.S. and a slew of countries traditionally thought of as our allies, are putting a crimp on America’s real estate market by thwarting demand from foreign homebuyers. Purchases by Chinese people, the biggest share of foreign purchasers, plummeted 56% in the 12 months ended in March, while British home purchases tumbled 48%.
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  • U.S. homeowners have never stayed put for this long

    Average tenure reaches record high
    American homeowners are staying put longer than ever before, with the average tenure reaching a record high of 8.09 years in the second quarter of 2019. This stands in stark contrast to the years leading up to the recession, as tenure from 2001-2007 averaged just 4.21 years. Here's why homeowners may be holding off on a move, and what it might mean for the market.
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  • Average home seller saw 34% return on their investment in Q2

    Pocketed $67,500 from their home's sale
    Homes may be appreciating more slowly than before, but homeowners are still rolling in the equity, realizing significant returns when they opt to sell. On average, home sellers saw a 33.9% return on their investment in the second quarter of 2010. That translates to a $67,500 profit on the sale of their home, according to the latest report from ATTOM Data Solutions.
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  • Median home price climbs to all-time high

    Average single-family residence sold for $266,000 in Q2
    The median price of single-family homes in the U.S. has climbed to a record high, reaching $266,000 in the second quarter. That’s up 10.8% from the previous quarter and up 6.4% from a year ago, according to the latest from ATTOM Data Solutions.
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  • Homeowners are taking on fewer house projects, but they're spending more

    Here's where they're spending the most, and why
    The volume of home maintenance and remodeling projects is declining, while spend for both is increasing, and this all signals the likelihood of a continued slowdown for the housing market. According to the latest Housing Health Report from BuildFax, much of the spend is concentrated in states where affordable housing is bringing an influx of residents.
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  • Charles Manson murder house lists for $1.98 million

    Next month is the 50th anniversary of the grisly killings at this "one of a kind" property
    The Los Angeles home where Charlie Manson and accomplices murdered Leno and Rosemary LaBianca has hit the market for $1.98 million, three weeks short of the 50th anniversary of the grisly crimes.
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