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Housing demand in California cooled further in July as the effects of rising interest rates and high home prices hit would-be homebuyers, dragging home sales below the annualized 300,000 benchmark level for the first time since May 2020, according to the CALIFORNIA ASSOCIATION OF REALTORS (C.A.R.). July’s statewide median home price was $833,910 down 3.5% percent […]
California’s housing market continued to downshift in June as housing demand cooled further to levels not seen in the past two years and logged its biggest dip since May 2020, according to the CALIFORNIA ASSOCIATION OF REALTORS (C.A.R.). Closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 344,970 in June, according to […]
SUNNYVALE — Real estate firm Tishman Speyer announced the sale of the former NetApp headquarters campus in California to CommonWealth Partners, a national commercial real estate developer, investor and operator. The property sold for a reported $707 million. Tishman Speyer acquired the campus, located on Crossman Drive in the desirable Moffett Park neighborhood, from NetApp in April 2021 for $356 million. […]
Sales of luxury U.S. homes fell 17.8% year over year during the three months ending April 30, the largest drop since the onset of the coronavirus pandemic sent shockwaves through the housing market. By comparison, sales of non luxury homes fell 5.4%. That’s according to an analysis of luxury real estate trends from real estate brokerage […]
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 […]
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 […]
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 […]
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 […]
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. […]
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 […]
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 […]
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 […]