The housing market has gone through a lot of change recently, and much of that was a result of how quickly mortgage rates rose last year. Now, as we move through 2023, there are signs things are finally going to turn around. Home price appreciation is slowing from the recent frenzy, mortgage rates are coming down, inflation is easing, and…
New York City, Singapore and London top the list of global cities rent price growth in 2022 According to international property consultant Knight Frank, prime residential rents continue to rise but the rate of growth is slowing. Across ten global cities luxury rents increased 10.2% on average in the 12 months to Q3 2022, down…
According to a new report from the American Institute of Architects, demand for design services from architecture firms continued to decrease in November 2022. The pace of decline during November accelerated from October, posting an Architecture Billings Index (ABI) score of 46.6 from 47.7 (any score below 50 indicates a decline in firm billings). The…
Luxury sales sink 38% in November, biggest decline on Record According to national property broker Redfin, sales of luxury U.S. homes fell 38.1% year over year during the three months ending November 2022, the biggest decline on record. That outpaced the record 31.4% decline in sales of non-luxury homes. Redfin’s data goes back to 2012.…
There have never been as many options to sell a home as there are today. In any major city, advertisements for instant cash offers abound on billboards, as you scroll through social media, and even stapled to telephone poles on street corners. According to the National Association of Realtors®, Cash sales rose from 16% in…
Timing is critical in all things, but it can be especially challenging when it comes to real estate. Deciding whether to sell your home before buying a new one is a difficult decision. It could land you in temporary housing if you haven’t found a house to buy. That means two moves, which is nobody’s…
Year-to-date statewide home sales were down 18.5 percent in October Based on new data from the California Association of Realtors, the State of California’s housing market continued shifting in October 2022 as the monthly average 30-year fixed rate mortgage hovered near 7 percent and led to the lowest sales level since February 2008 and the…
Seventh Consecutive Monthly market decline since last May According to Las Vegas Realtors, the recent slowdown in the local housing market continued, with declining home prices and sales.LVR reported that the median price of existing single-family homes sold in Southern Nevada during November 2022 was $430,990. That’s down 2% from October, and down from the…
Yet South Korea, Hong Kong, Peru, China, New Zealand and Morocco experienced price declines in Q3 According to international property consultant Knight Frank, house prices across 56 countries and territories are still rising at a rate of 8.8% per annum, down from 10.9% at their peak in Q1 2022. However, in real terms, when accounting…
The historically low inventory over the past few years led to challenges for many buyers trying to find a home that met their needs and their budget.
