Thursday, July 21, 2022 / by Dave Magua
Sales of existing homes ticked down 5.4% between May and June, falling 14.2% from a year ago, as median prices rose to $416,000, according to the National Association of Realtors.
Existing home sales slid for the fifth straight month in June, according to data released Wednesday, marking the latest sign of significant cooling in the housing market.
Sales of existing homes ticked down 5.4 percent between May and June, and were down 14.2 percent from a year ago, according to data released Wednesday by the National Association of Realtors.
Meanwhile, the median price of an existing home climbed 13.4 percent from June 2021, hitting a new high of $416,000, and the inventory of unsold existing homes climbed to 1.26 million by the end of June, the equivalent of a 3 month supply at the current sales pace, an increase from the 2.6 month supply recorded in May — a sign more buyers are pulling back from the market, according to experts.
“Falling housing affordability continueE ...
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Monday, July 18, 2022 / by Dave Magua
The technology sector is enormous—it’s expected that $5.3 trillion will be spent on Information Technology (IT) worldwide in 2022. And when it experiences a shift, every industry feels the impact. That’s especially true in luxury real estate, where fortunes are made and staked on future-forward innovations. Each year, newly minted founders and veteran venture capitalists purchase properties in emerging technology hotspots, building and growing some of the world’s most influential businesses.
There have been a number of notable tech migrations over the last few decades, but I have never experienced a “Great Tech Migration” comparable to the one happening now in my local Atlanta market.
What’s different about this migration? The ubiquity of remote work. Today’s tech workers are free to live in more affordable locations—and technology companies, competing with each other to win the war for talent, are starting to follow them.
In the ...
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Tuesday, March 8, 2022 / by Dave Magua
March 3, 2022
Spring may have sprung early in the housing market. The U.S. median list price set a record high of $392,000 in February, according to realtor.com®’s Monthly Housing Trends Report. Many markets continued to post double-digit annual price gains, led by Las Vegas, Miami, and Tampa, Fla., with annual increases of at least 31% each.
“Over the last five years, we have seen home prices break records early in the season as buyers try to get ahead of the competition,” says Danielle Hale, realtor.com®’s chief economist. “But this is the first time the record has been broken in February, signaling that competition is already heating up weeks before the start of the spring buying season in a typical year.”
The number of homes for sale remains at record lows. But home buyer demand remains high and home prices are surging as a result of competition for low housing inventories. Hale says a slight improvement has been made on ; ...
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