SANTA CLARA — Housing inventory in the U.S. recorded the first year-over-year increase since June 2019, according to the Realtor.com Monthly Housing Trends Report released today. The median national home price also soared to an all-time high of $447,000 and buyers snatched up listings a week faster than last year. “Among key factors fueling the inventory comeback are […]
Real Estate
Only 24% of Californians Can Afford to Buy House
As California’s median home price set a new high in March and interest rates reached their highest levels in more than two years, the housing affordability outlook for Californians was diminished in the first quarter of 2022, according to the California Association of Realtors (C.A.R.). The percentage of home buyers who could afford to purchase a […]
Rental Prices Up 20% in Past Two Years
SANTA CLARA — U.S. rental prices grew by nearly 20% from March 2020 to 2022 during the pandemic, according to the Realtor.com Monthly Rental Report. Additionally, two-year rental trends indicate some redistribution of higher rents across the 50 largest markets during COVID, as renters migrated from expensive big tech cities to relatively more affordable areas. Sun Belt metros topped […]
March Home Prices for Top 50 Metro Areas
SANTA CLARA — Home prices hit $405,000 for the first time ever in March, but data reveals there is some hope on the horizon for pandemic-era buyers. With demand beginning to moderate as some home shoppers are priced out of the market and new construction at near 16-year highs, inventory is expected to hit positive territory year-over-year this […]
National Home Prices Hit All-Time High in February
SANTA CLARA — The U.S. median home listing price hit a new all-time high of $392,000 in February, according to the Realtor.com Monthly Housing Trends Report. Home prices grew at an unusually-fast February pace before the busy spring season in many of the 50 largest metros, led by Las Vegas, Miami and Tampa, with annual increases of at least 31% each. […]
146 Cities Pass Million Dollar Home Mark
A record 146 U.S. cities became new “million-dollar cities” in 2021, according to real estate website Zillow. There are now 481 cities in which the typical home value is at least $1 million. Nearly half are in California. If current rates of appreciation hold, 49 more could join the $1 million club by midyear. The number of […]
Median California Home Price Stays Under $800,000
California home sales and prices moderated in December as mortgage rates edged higher, but home sales for the entire year recorded the strongest pace since 2009, exceeding 2020’s level by 7.9 percent, according to data from The California Association of Realtors (C.A.R.). Bay Area home sales were down 23.1% for the year. Closed escrow sales […]
Magna, UT Named Best City for First-Time Home Buyers
SANTA CLARA — Realtor.com has compiled its first ever list of Best Markets for First-Time Homebuyers, a report which predicts the cities and towns with the best combination of quality of life and affordability that young homebuyers are looking for. What is it that makes these markets great for first-time homebuyers? They have strong job markets, short […]
Median Home Price in U.S. Rises to Record $361,171
The median home sale price rose 14.6% year over year to a new all-time high of $361,171 during the four-week period ending December 26, according to a new report from real estate brokerage Redfin. This comes as the number of homes for sale fell to a record low. New listings and pending sales both dropped to their lowest […]
South Lake Tahoe is Most Popular on Zillow for 2021
South Lake Tahoe is real estate site Zillow’s most popular place of 2021, leading a West Coast near sweep of the most in-demand places of the year, including the most popular vacation town, beach town and small town. Based on Zillow page-view traffic, available housing inventory, price appreciation and other housing barometers that indicate consumer demand, […]
Realtor.com Projects 2.9% Increase in Home Prices in 2022
SANTA CLARA — Americans will have a better chance to find a home in 2022, but will face a competitive seller’s market as first-time buyer demand outmatches the inventory recovery, according to the Realtor.com 2022 Housing Forecast. The median home price is expected to rise 2.9% next year but rents are projected to go up even higher […]
KB Home Building New Townhomes in Gilroy
GILROY — KB Home has announced the grand opening of Ascent, a new, townhome-style condominium community in the highly desirable Glen Loma Ranch master plan. Ascent is situated in the foothills of Gilroy, just off US-101 and about 30 miles south of San Jose, providing access to Silicon Valley’s major employment centers. The new community […]