The real estate market in San Francisco has been facing significant challenges, with the vacancy rate for office space reaching a record high of 34.5% in the second quarter. This is a stark increase from previous years, showcasing the impact of both the Covid-19 pandemic and the slowdown in the tech industry. The average asking
Real Estate
The real estate landscape in Manhattan is experiencing a significant shift as prices of apartments fall and inventory levels rise. Reports indicate that the average real estate sales price in Manhattan has dropped by 3% to slightly over $2 million. Additionally, the median price has also seen a 2% decrease to $1.2 million. Luxury apartment
Recent reports indicate that the heat in the housing market is starting to dissipate, with home prices showing signs of decline compared to this time last year. While prices are still higher than they were previously, the gains are shrinking, causing sellers to adjust their expectations. According to data from real estate brokerage Redfin, the
As we transition from a weaker-than-expected spring housing market, the summer season does not appear to hold much promise. The persistently high home prices are on the rise, while mortgage rates remain stagnant at recent highs. Moreover, consumers seem unenthused by the minimal increase in home listings. This lackluster scenario is vividly reflected in the
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
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