The real estate market is currently experiencing a shift as the supply of homes for sale is on the rise. According to a recent report from Realtor.com, active listings in August saw a 36% increase compared to the same month last year. This marks the 10th consecutive month of annual growth in supply. However, despite
Real Estate
In recent times, London landlords have been selling their buy-to-let properties at an unprecedented rate due to anticipated tax hikes proposed by the U.K. Labour government. Data from property portal Rightmove indicates that almost one-third (29%) of homes currently for sale in the capital were previously rented out. This trend is not isolated to London,
In recent weeks, mortgage demand has seen a sharp shift towards refinancing, driven by a continuous decline in interest rates. According to the Mortgage Bankers Association’s latest report, total mortgage application volume saw a modest increase of just 1.6% last week. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances has
China’s housing market continues to face difficulties despite numerous attempts by the government to provide stimulus and support. According to Haibin Zhu, chief China economist at JPMorgan, the housing market crash is far from over, with stabilization not expected until 2025 at the earliest. Recent data released by China Index Academy shows that new home
REA Group, a property listings company owned by Rupert Murdoch’s News Corp, has announced its consideration of a potential takeover offer for the U.K. property portal Rightmove. This move aims to establish a global digital real estate business and has sparked significant market interest. Following the announcement, shares of Rightmove experienced a notable 25% increase
Despite the increase in mortgage interest rates, home prices have soared to their highest levels ever on the S&P CoreLogic Case-Shiller U.S. National Home Price Index. According to recent data released, there was a 5.4% increase nationally in home prices on a three-month running average ending in June compared to the same period in 2023.
The traditional concept of ownership is evolving rapidly in today’s society. More and more Americans are opting to rent various items, ranging from cars and apartments to clothing and furniture. A report by Intuit Credit Karma reveals a significant shift towards a “rent-first” lifestyle, with 28% of adults regularly choosing to rent goods and services.
Manhattan, New York is notorious for its exorbitantly high real estate prices, with the median price per square foot reaching $1,500 according to My Dolce Casa. The city consistently ranks as one of the most expensive places to reside in worldwide. As a result, purchasing a modest 500-square-foot condo in New York City can set
In today’s real estate market, the American Dream of owning a home is becoming increasingly elusive for many. The soaring prices of homes, coupled with a shortage of inventory, have created a financial strain on potential buyers. The median sales price for homes has seen a steady increase, hitting $422,600 in July, which is a
Recent data shows that mortgage rates have been on a decline for the past four weeks, yet the response from both current homeowners and homebuyers has been lukewarm. While there was a slight uptick of 0.5% in total mortgage application volume last week, the enthusiasm seems to be lacking. The average contract interest rate for