A For Sale sign is displayed in front of a house in Washington, DC, on March 14, 2022. Stefani Reynolds | AFP | Getty Images Sales of previously owned homes fell 7.2% month to month in February to a seasonally adjusted annualized rate of 6.02 million units, according to the National Association of Realtors. That
Month: March 2022
A sign is posted in front of a home for sale on September 28, 2021 in San Anselmo, California. Justin Sullivan | Getty Images Home value growth surpassed median salaries last year in 25 of 38 metropolitan areas across the country, according to research from real estate company Zillow. To compare, Zillow said only five
Rocky Mountain mansion owned by oligarch Roman Abramovich outside Aspen, Co. Courtesy: Pitkin County Assessor A Rocky Mountain mansion owned by Russian oligarch Roman Abramovich would likely be among the first assets frozen by the U.S. government if he is sanctioned by the White House in response to the war in Ukraine, according to attorneys
Paul Bradbury | OJO Images | Getty Images First-time home buyers have a steep learning curve, from understanding true affordability and how to qualify for a mortgage to managing their cash flow after their purchase. “When buying your first home, you need to consider that what a lender will let you borrow is not necessarily
A view of the Evergrande Changqing community on Sept. 24, 2021, in Wuhan, Hubei Province, China. Getty Images | Getty Images News | Getty Images A slew of Chinese real estate developers said this week that they are either not able to release their financial results on time or have yet to set board meetings
A home is offered for sale on January 20, 2022 in Chicago, Illinois. Scott Olson | Getty Images The average rate on the popular 30-year fixed mortgage hit 4.72% Tuesday, moving 26 basis points higher since just Friday, according to Mortgage News Daily. As a result of the recent spike in rates, economists are now
Prospective home buyers arrive with a realtor to a house for sale in Dunlap, Illinois. Daniel Acker | Bloomberg | Getty Images A sharp increase in mortgage interest rates is taking its toll on loan demand, especially refinances. Total mortgage application volume fell 8.1% last week compared with the previous week, according to the Mortgage
A home with a sign indicating that it is under contract to be sold is seen in a neighborhood of downtown Washington. Jim Bourg | Reuters In a grim sign for the housing market’s busiest season, pending home sales, which measure signed contracts on existing homes, fell 4.1% in February compared with January, according to the
The rate for the most common kind of mortgage just surged again. The average rate on the 30-year fixed mortgage shot significantly higher Friday, rising 24 basis points to 4.95%, according to Mortgage News Daily. It is now 164 basis points higher than it was one year ago. “That’s the second time this week, and
Mikolette | E+ | Getty Images Prior to the pandemic’s red-hot housing market, there was a simple profile that constituted an “A” buyer, according to Brian Copeland, a realtor in Nashville, Tennessee. “Four years ago, an ‘A’ buyer was someone who was pre-qualified for a loan, had 3% down and could go out this weekend
Beatrix Farrand, one of America’s greatest landscape architects, was born 150 years ago. The anniversary comes at a good time to celebrate her work: several of her important gardens are undergoing extensive restoration, a previously private garden is now open to the public, and a lavishly-illustrated biography is heading for publication. Beatrix Farrand Beatrix Farrand
Late disgraced financier Jeffrey Epstein’s two private islands—commonly referred to as ‘Pedophile Island’—in the U.S. Virgin Islands have officially been put up for sale by the his estate. First reported by The Wall Street Journal, the pair of properties includes Great St. James and Little St. James. Great St. James is the larger of the
The Biden administration has established a task force to tackle the decades-old problem of home appraisals undervaluing properties in Black communities. The property appraisal and valuation equity action plan (PAVE) is aimed squarely at dismantling racial bias in the home lending and appraisal process and promoting generational wealth creation through homeownership. When enacted, PAVE represents
It would be inaccurate to call young interior designer and entrepreneur Francesca Grace “up and coming” after her television debut in March 2022 on HGTV’s Fix My Flip. She has officially arrived. You may not have heard her name yet, but reality television fans will recognize Grace’s work from Bravo’s Real Housewives of Beverly Hills.
The stats are increasingly well reported and – in this era of swift climate change — ever more alarming. Some 39% of all the world’s carbon emissions are generated by the built environment and construction, according to the World Green Building Council. What’s more, the average American home emits 8.3 metric tons of carbon dioxide
It’s rare to find a custom home constructed as the personal residence of the builder-owner. This stately brick-and-stone home in the North York neighborhood of St. Andrews in Toronto, Ontario, attests to its ownership pedigree with fine design and luxurious finishes. A lush lawn, landscaping and a brick-and-stone facade all add to the home’s curb
The housing market is expected to return to pre-pandemic, 2019 norms — at least in terms of inventory and the share of purchases made by first-time home buyers — by 2024, according to a panel of housing market experts polled in the latest Zillow home price expectations survey. The dwindling supply of homes for sale
Every month, there are thousands of searches in Google for terms related to: “Is there a housing bubble?” Clearly, it’s a question on many people’s minds. For this to be a bubble, it’s not just about high prices; investment needs to be driving demand way beyond where it should be. So, is there a real
This custom-built home may be set in a place called Spanish Hills, but don’t be fooled by the name. The design is ultra-sleek contemporary. Distinguished by strong horizontal lines, the stylish house is located within a gated neighborhood in southwestern Las Vegas, Nevada. The entire master-planned golf course community is made up of custom homes,
A-list actor Leonardo DiCaprio has found a buyer for a property in the Los Feliz Oaks neighborhood of Los Angeles, records show. The 1926 Tudor-style home, which hit the market last year for $5.75 million, recently sold to famed musician Miguel for $4.9 million. The historic Los Feliz neighborhood of Los Angeles has been home
Getty Images Interest rates are almost undoubtedly going up this month, for the first time in three years. The Federal Reserve is expected to raise its benchmark interest rate by 0.25% next week to curb inflation, which is running at a 40-year high. Additional hikes are likely later this year. American households will feel that
A single family home is shown for sale in Encinitas, California. Mike Blake | Reuters After rising steadily for months, mortgage rates made a U-turn last week, and borrowers jumped to take advantage. The crisis in Ukraine rattled financial markets and caused a run on the relatively safer bond market. Yields fell and mortgage rates
Marvy Finger recently sold half his portfolio of Sunbelt apartments for $2 billion, saying the Covid-crazed rental market has peaked. The buyers, pointing to a 20-year low vacancy rate, disagree. For a real estate tycoon, Marvy Finger’s second-floor offices in a low-slung Houston office building are as modest as the first apartment buildings he erected
Are you ready to spring ahead this coming weekend? If you live in one of the 48 states that observe Daylight Savings Time at 2 a.m. on the second Sunday of March, you’ll be shifting your clocks ahead an hour. (Only Hawaii and Arizona don’t observe DST.) On the plus side, millions of Americans will
2020 was, of course, a historic downturn for New York City, but as that year came to an end, a ctivity and transaction volume began to increase once again. This uptick in activity has continued through 2021 into 2022. The highlight of this recovery lies not in Manhattan but in the outer boroughs, specifically Brooklyn
The tree-lined Eagle River and the iron-ore-covered cliffs of Red Mountain make a dramatic backdrop of this wood-clad retreat in the wilderness of west central Colorado. The year-round single-family home has a lodge vibe with vaulted ceilings supported by thick log beams, rough-hewn wood flooring and other wood accents. A stone, wood-burning fireplace with a
Larchmont Village is one of the most unique neighborhoods in all of Los Angeles. Rich in history, it’s one of few places that’s walkable and feels like a true town in the middle of a big city. One of the hallmarks of the area is Larchmont Boulevard, which is known for its variety of retail
REITs have been on a buying spree, making $67.8 billion of net acquisitions in 2021. Several factors have contributed to these purchases, including a robust recovery in underlying property markets and solid outlook for future growth, a low cost of capital, and strong balance sheets that are in a good position to support this expansion
Nationwide, a record 8.2% of U.S. homes (6 million) were valued at $1 million or more in February, according to a new report from real estate brokerage Redfin. That’s up from 4.8% (3.5 million) two years earlier, just before the coronavirus was declared a pandemic. The biggest share of million-dollar homes was in the Bay
If there’s one area where recent inflation talk is going viral, it’s Manhattan rents. For instance, a recent New York Times headline showed an eye-popping 30% increase in median asking rents in doorman buildings from December 2020 to December 2021, while the New York Post reported gains of 23% from January 2021 to January 2022.