Weekly News Roundup Will Housing Market Crash? The U.S. housing market had finally started slowing in late 2022, and home prices seemed poised for a correction. But a strange thing happened on the way to the housing market crash: Home values started rising again. So much for the now-quaint notion that the post-pandemic “housing recession”…
Weekly News Roundup Shrinking Apartments Developers are thinking small when it comes to studio apartments. The average size of studio units has shrunk by 54 square feet to 445 square feet since 2014, making them 10% smaller today than they were a decade ago, according to a new report from RentCafe. Smaller studios, which are…
Weekly News Roundup Migration Driving Real Estate Many homeowners have decided to relocate, with a Stateline analysis of U.S. Census Bureau finding this month that a growing number of Americans are ditching cities for suburbs in search of lower taxes and more affordable real estate prices. There are places around the country where a home…
Weekly News Roundup Signs of House Prices Topping Houses are really expensive, and getting more so. Prices jumped 1.2% in April from March, and are now up about 50% from the end of 2019, according to one prominent index. For prospective buyers, it’s a crisis. For owners, it’s a windfall: Rising housing prices are a…
Weekly News Roundup Record High Home Prices Prices for existing homes rose to $419,300 in May, and sales slipped for third month in a row. The national median existing-home price in May was $419,300, a record in data going back to 1999, the National Association of Realtors said Friday. Prices aren’t adjusted for inflation. That…
Weekly News Roundup Politics and Real Estate in Chicago Downtown Chicago is being threatened by a real estate crisis. The Midwestern metropolis has seen its vacancy rate soar to 16.2%, while the national average is 13.8%. Businesses are leaving the city. The reason? Too much crime and taxes. Big business is looking for more favorable…
Weekly News Roundup Sellers Lower Home Prices Research, conducted by Redfin, showed that across the United States, 6.4% of home sellers have cut their asking price, which is the highest percentage since November 2022. The median asking price dropped roughly $3,000 to $416,623 in the last week, the first decline in six months. Additionally, for-sale…
Weekly News Roundup Las Vegas Condo Projects on the Rise Developers in the Las Vegas area have long emphasized building single-family homes, taking advantage of the once-vast tracts of developable land. But that is changing as wealthy locals and out-of-state buyers increasingly choose to purchase condos. Many transplants to the state income tax-free state don’t…