NV lic S.0166977
Las Vegas home prices rising while inventory shrinks Based on new data from Las Vegas Realtors, housing supply continued to shrink in November 2023, while fewer homes are selling and prices are higher than the same time last year. LVR reported that the median price of existing single-family homes sold in Southern Nevada through its…
Climate change ranked second biggest luxury housing market risk in 2024 Based on new data by Kate Everett-Allen, head of international residential research at Knight Frank, despite 2 regional wars, rising mortgage rates and inflation, global economies have displayed surprising resilience, with recent inflation figures suggesting a turning point. While two major geopolitical crises unfold,…
Redfin makes multiple U.S. housing market predictions for 2024 National property broker Redfin says there are new signs pointing to a shift toward a buyer’s market in 2024, as pandemic-driven inflation takes its last gasps, mortgage rates come down and more people list their homes for sale. That’s according to annual end-of-year predictions from Redfin’s…
According to the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending December 1, 2023, U.S. mortgage applications increased 2.8 percent from one week earlier. The Market Composite Index, a measure of mortgage loan application volume, increased 2.8 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the…
Elevated mortgage rates keep buyers and sellers on the sidelines Based on new data from the California Association of Realtors, California home sales were essentially flat in October 2023, as the cost of borrowing remained elevated and housing inventory continued to be tight. Closed escrow sales of existing, single-family detached homes in California totaled a…
Slowdown forcing Hong Kong developers to reduce prices or delay projects According to JLL’s latest Hong Kong Residential Market Monitor released this week, amongst Hong Kong projects completed in the first half of 2023, only 55% of units were sold as of the end of June 2023, lower than the average sell-through rate of 78%…
Based on ATTOM’s newly released third-quarter 2023 Vacant Property and Zombie Foreclosure Report, 1.3 million (1,277,612) residential properties in the United States are vacant. That figure represents 1.3 percent, or one in 79 homes, across the nation – the same as in the second quarter of this year. The report also reveals that 315,425 residential…
According to national data provider CoreLogic, the sizable U.S. home investor share of ownership seen over the past two years held steady going into the summer of 2023. In March 2023, investors accounted for 27% of all single-family home purchases; by June, that number was almost unchanged at 26%. Corelogic reports that 2021 saw a…
According to the Orlando Regional Realtor Association, overall residential sales fell 8.7% from June to July 2023. There were 2,852 sales in July, down from 3,124 sales in June. Sales in July 2023 were also 13.8% lower than July 2022, when there were 3,309 sales. ORRA also reports housing inventory for July was recorded at…
According to CBRE’s latest research, the U.S. multifamily market showed signs of stabilization in the second quarter of 2023 with a rebound in absorption and modest uptick in vacancy. The multifamily vacancy rate rose by 10 basis points (bps) quarter-over-quarter in Q2 2023 to 5.0%. This was a slower increase than the 30 bps rise…