Despite an increase in mortgage rates and an uptick in the supply of homes for sale, home prices set another record in April. This is an unusual trend in the housing market, especially when one would typically expect prices to weaken under such circumstances. In April, prices rose by 6.3% compared to the same month
Real Estate
The housing market is undergoing a shift, with newly built homes being smaller compared to a decade ago. In the first quarter of 2024, the median floor space of a single-family home under construction was 2,140 square feet, down from 2,256 square feet in the previous year. This decrease marks the smallest new homes since
The NBC News Home Buyer Index recently highlighted the counties in the U.S. that are deemed the least challenging places to purchase a home. When considering the index rank, Iroquois County, Illinois stands out as the least difficult market to buy a home. The ranking is based on four contributing factors: cost, competition, scarcity, and
The National Association of Home Builders reports that there is a significant increase in the construction of single-family homes built for rent in the U.S. This rise is a direct response to the housing affordability crisis that is currently impacting many individuals. According to experts such as Robert Dietz, the chief economist at the NAHB,
Recent data from the Mortgage Bankers Association revealed that there was only a slight uptick of 0.9% in total mortgage application volume. This increase came despite a decrease in the average contract interest rate for 30-year fixed-rate mortgages. The drop in rates was attributed to the latest inflation data and FOMC meeting, yet consumers did
In 2024, Hong Kong retained its title as the most expensive city for expats to live in, according to the Mercer Cost of Living City Ranking. This comes as no surprise, as Asia’s major financial hubs, such as Singapore and Zurich, also clinched top spots on the list. Cities in Switzerland dominated the rankings, with
Singapore, known for its modern skyline and luxurious living spaces, holds a hidden gem in the form of colonial-era shophouses. These colorful and ornate buildings, situated in the older neighborhoods of the city-state, have caught the eye of investors, including some of the rich and famous. The exclusivity of these two- or three-story shophouses, often
As sea levels continue to rise and storms become more frequent and intense, coastal real estate is facing unprecedented challenges. From California to New York to Massachusetts, some of the most expensive coastal properties in the nation are in danger due to climate change. The National Oceanic and Atmospheric Administration (NOAA) has already predicted an
Revolut, a prominent British financial technology firm, recently made headlines by announcing its plan to relocate its official headquarters in London to Canary Wharf, the city’s major financial district. This strategic decision signifies a significant step for the company, as it moves its global headquarters to the YY London building in the heart of Canary
Last week, mortgage rates experienced a significant drop, leading to a surge in total mortgage applications. According to the Mortgage Bankers Association, the total volume of mortgage applications increased by nearly 16% compared to the previous week. However, this trend was short-lived as rates quickly rebounded following a stronger-than-expected monthly employment report. The average contract