Seven of the 10 least-affordable markets in January were in the West, including San Francisco, Seattle and Los Angeles, according to Black Knight.
Laura Johnson, a 59-year-old technology project manager, put her Seattle house on the market in September for $800,000. In October, after dropping the price to $745,000 and getting no offers, she took the house off the market. “In Seattle, sales just completely dropped off,” she said. Ms. Johnson relisted her home in February for $750,000. […]
New York’s Landmark Flatiron Building Auctioned Off for $190 Million to Surprise Bidder
Iconic Triangular-Shaped Property Sold Following Dispute Among Existing Owners The Flatiron Building, the 121-year-old, triangular-shaped New York landmark featured on Manhattan postcards and in movies such as “Spider-Man” and “Godzilla,” is about to enter a new chapter after its sale at a public auction for $190 million to a surprise bidder. Jacob Garlick, whose LinkedIn […]
A Tale of Two Housing Markets: Prices Fall in the West While the East Booms
Home prices are falling in the West, while prices in the East are increasing. The United States is a country of two housing markets. In one, home prices are falling from a year ago. In the other, they’re still posting annual gains. That division runs right down the center of the U.S. In all of […]
Boise, Idaho, was named the most overvalued housing market in the U.S. in early 2022. Charlotte, N.C is considered one of the most overvalued in 2023
Even with more price declines expected, lower-than-normal supply of homes for sale is one reason that economists and market participants say the current housing slump won’t bring the national price collapse that followed the subprime crisis. The U.S. had a low inventory of homes for sale heading into the pandemic and the number of active listings is […]
The 10 markets with the biggest home-price increase between February 2020 and January 2023
In places such as Hartford, Conn., and Buffalo, N.Y., more affordable homes and limited housing supply supported annual price gains around 8% in January. “The uptick in interest rates does not seem to have had any effect on our market,” said Lisa Barall-Matt of Berkshire Hathaway HomeServices New England Properties in West Hartford, Conn. Housing […]
Morgan Stanley analysts are forecasting something ‘worse than in the Great Financial Crisis’ for commercial real estate
After the banking crisis, could the next domino be all those empty office buildings in your downtown? Investors and economists are sounding the alarm about the commercial real estate market, seeing trouble ahead with refinancing. This sector has been hit hard for years now with the shift to remote work bringing about rising vacancy rates and falling property […]
San Francisco’s home prices have dropped more than 10% from a year ago, while Miami’s continue to rise.
The average rate on a 30-year fixed mortgage was 6.42% last week, down for the second straight week but up from 6.09% in early February, according to Freddie Mac. The Federal Reserve approved its ninth consecutive interest-rate increase Wednesday and said it was too soon to tell how recent turmoil in the banking industry could […]
New Los Angeles Office Property Lands Entertainment Company As First Tenant
Production House Fifth Season Leases Roughly 65,000 Square Feet at Lumen West LA An entertainment firm is the first tenant to ink a lease in a new Los Angeles office space in a positive sign for the struggling market. Fifth Season, based in Beverly Hills, California, agreed to lease about 65,000 square feet at 11355 W. […]
Construction Firm, Ex-Walmart Chair Team With Humane Society to Build Animal Hospital in Phoenix
Ryan Cos. On Track To Finish Facility Backed by $5 Million Donation From Rob and Melani Walton Foundation One of the nation’s biggest construction firms is teaming up with a retired chairman of the country’s largest retailer to build a medical complex for the Arizona Humane Society in Phoenix. Ryan Cos. of is building the […]
