home prices

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Home Prices Just Dropped 0.77%. That's Actually Big

It's the largest month-over-month decrease since 2011

(Newser) - It's good news for would-be home buyers, even if it sounds like teeny tiny good news. Home prices dropped 0.77% in July compared to the month prior, marking the first time in three years they've moved in a downward direction, reports CNBC . It's also the biggest...

In These 10 Cities, Open Up Your Wallet to Buy a Home

On the West Coast especially

(Newser) - It's a seller's market, and home prices are booming. The Hill notes that US housing price tags were on an upward climb for decades before COVID, but now that the pandemic is starting to wane, the spike is even more pronounced. Current home prices are coming in at...

Rising Mortgage Rates Throw Complicated Wrench in Market

They make it more expensive to buy but also could lead to lower prices

(Newser) - Mortgage rates on a 30-year loan just clocked in at 4.72%, the highest since 2018, reports the Wall Street Journal . That's up from 3% last summer, which translates into a quite a dent in prospective homeowners' wallets, notes NPR . "It added like $700 a month in monthly...

Home Prices Rose All Over, but in 2 Regions Especially

National home price index jumped 18.8% in 2021

(Newser) - Last year was the best of times for homeowners and the worst of times for those aspiring to own homes, according to a leading measure of home prices in major US metropolitan areas. The S&P CoreLogic Case-Shiller National Home Price Index was up 18.8% for the year, the...

Home Prices Top $350K for the First Time

But with buyers squeezed out, the rate of sales is starting to slow down

(Newser) - The median home price in the US has topped $350,000 for the first time—but with record prices squeezing out buyers, some analysts say the market may be on the brink of cooling. The National Association of Realtors says the median existing-home price in May was $350,300, a...

'This Might Be the Most Competitive Housing Market' Ever

From Seattle to Wichita, homes are selling for well above list prices

(Newser) - The red-hot US housing market is widening the gap between what a home is objectively worth and what eager buyers are willing to pay for it. Fierce competition amid an ultra-low inventory of homes on the market is fueling bidding wars, prompting a growing share of would-be buyers to sweeten...

NYC Mayoral Candidates Wildly Underestimate Local Home Prices

Ex-HUD chief Shaun Donovan, investment banker Ray McGuire miss the mark big time on Brooklyn

(Newser) - Two candidates for New York City mayor had their Lucille Bluth moment this week after they were both wildly off in their estimate on the cost of local housing. The New York Times notes that while neither Shaun Donovan nor Raymond McGuire is considered a frontrunner in the mayoral race,...

They Asked $1.15M for Home, Got Double That


They Asked $1.15M for
Home, Got Double That
in case you missed it

They Asked $1.15M for Home, Got Double That

'It's kind of a unicorn,' agent says of Berkeley, Calif., property

(Newser) - A home in Berkeley, Calif., was listed for $1.15 million—and just sold for twice that amount. Listing agent Jill Carrigan of Grubb Co., says it's the first time she’s seen a house sell for $1 million over the asking price. It's "an unusual feat...

Sea Levels Have Florida Housing Market 'in Distress'

Prices and number of sales are dropping in exposed coastal areas

(Newser) - A 2018 study warned that 64,000 Florida homes were at risk to chronic flooding by 2045 because of rising sea levels. The figure rises to 1 million homes by 2100. Now, new research suggests this effect already is showing up in the state's real estate market, reports NPR...

First-Time Home Buyers Should Look Here

First American locates 10 most affordable cities for the group

(Newser) - Americans looking to buy their first home should consider the Midwest and South, according to insurance firm First American . The company uses its own calculations, saying "any affordability metric that includes existing homeowners is wildly misleading to first-time homebuyers" since the former group can already afford a home, per...

10 Toughest Markets to Afford a Home

Brooklyn is steepest, when compared to average incomes

(Newser) - Figuring out the "least affordable housing markets" in the US isn't just a matter of finding the highest prices. For its list, 24/7 Wall Street compared prices to an area's average income. By that standard, New York's Kings County—ie, Brooklyn—is priciest. The top 10:...

Remember McMansions? They Were a Bad Investment

It's not just McMansions; luxury homes built earlier are also going for less

(Newser) - McMansions, defined loosely as mass-produced homes built between 2001 and 2007 weighing in at 3,000 to 5,000 square feet, have long been teased as shoddily built, poorly designed, and outrageously unsophisticated—the fast food version of luxury homes. (See the anonymous blog McMansion Hell for examples.) They...

5 Towns That Prove the Suburbs Aren't Always Cheap

Bel Air, Los Altos Hills make the list

(Newser) - Think moving to the 'burbs will save you money? Not in these neighborhoods. Real estate firm Engel & Völkers has identified the priciest suburb around each of America's 10 most populous urban areas, based on the median home price. The top five, per Forbes :

Home Too Toxic and Dilapidated to Enter Sells for $427K

Seattle housing market is going crazy

(Newser) - How crazy is the housing situation in one of the country's hottest markets? A dilapidated Seattle home described by the Seattle Times as a "Halloween haunted house" recently sold for more than twice its listing price despite partially collapsed ceilings, five feet of standing water, toxic air, hazardous...

The 5 Most Unaffordable Places to Live in the US

California is bad, but it's not the worst

(Newser) - Want to stretch your housing dollar? Then you're going to want to stay out of California. Business Insider used data on 582 US counties from RealtyTrac to figure out the 15 least-affordable counties to live in, defined by the percentage of a resident's average weekly wage it would...

Home Prices Take Biggest Jump in 7 Years

20 biggest cities see gains for 2nd month in a row

(Newser) - US home prices posted their biggest year-over-year gains in February since 2006, as a growing number of buyers bid on a limited supply of homes. The Standard & Poor's/Case-Shiller 20-city home price index climbed 9.3% in the 12 months ending in February. That's up from an 8....

Jan. Home Prices See Biggest Jump Since 2006

Case-Shiller index points to 8.1% growth year-over-year

(Newser) - Home prices jumped 8.1% this January compared to a year before, according to the 20-city Case-Shiller index. That beats economists' expectations of a 7.9% increase and marks the biggest year-over-year jump since the summer of 2006, the Wall Street Journal reports. In other words, it's "the...

Sales of Pricey Homes Surge
 Sales of Pricey Homes Surge 

Sales of Pricey Homes Surge

And median home price is going up

(Newser) - Another sign of economic recovery? Sales of higher-end homes—those priced above $750,000—were up 50% in November from a year prior, CNBC reports. Meanwhile, sales of the lowest-end homes fell 4%. The two factors pushed the median home price across the nation to $180,600, up about 10%...

Home Prices Climbed 3% in September

20-city index sees jump as housing recovery continues

(Newser) - Home prices increased in September in most major US cities, more evidence of a housing recovery that is providing a lift to the fragile economy. Standard & Poor's/Case Shiller reported today that its 20-city index of home prices rose 3% in September, compared with the same month last year....

Consumer Confidence Soars Past Expectations

There's good housing news, too

(Newser) - Consumer confidence soared to a seven-month high, flying far above analyst expectations, according to a Conference Board report released today. The board's index came in at 70.3, up from 61.3 a month earlier. That's a whole heck of a lot better than the 63 that the...

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