California homes now unaffordable for 85% of buyers, yet Peninsula still sees ‘over-asking’ sales
By Silicon Valley Association of Realtors / Contributor Despite record-high mortgage interest rates and increasing home prices, demand for homes remains strong on the Midpeninsula. Photo courtesy Getty Images. High mortgage interest rates and rising home prices have led to a continued decline in California home sales compared to 2022, and local Realtors don’t expect […]
Most $1 million+ mortgages are in these California and New York cities
By now, most prospective homeowners know how expensive it has become to finance a home. The typical 30-year conventional mortgage rate is 7.50% in November 2023, according to Freddie Mac data, 4 percentage points higher than just two years ago. And along with higher rates, home prices are still climbing as housing supply remains constrained. […]
Toronto housing bubble: Is it ready to pop?
Toronto’s surging housing market faces uncertainty. Learn about soaring prices, economic factors and the future of affordable home ownership. The Toronto real estate market has experienced remarkable growth over the past two decades. The average home price in Toronto surged by a staggering 489% from 2000 to 2022, according to the Toronto Real Estate Board […]
Global investors sensing opportunity in Canada’s housing shortage: Colliers
Multi-family properties emerging as top investor favourite in 2024 Canada’s housing shortage is starting to draw the attention of global investors who are likely to favour Canadian multi-family properties in 2024, a major real estate investment management firm says. Colliers’ Global Investment Outlook Report for 2024 is predicting that, as Canada’s high level of inward migration increases […]
Average long-term U.S. mortgage rate falls to 7.29% in fourth straight weekly drop
The latest decline brought the average rate on a 30-year mortgage down to 7.29% from 7.44% last week, mortgage buyer Freddie Mac said Wednesday. A year ago, the rate averaged 6.58%. Despite the recent pullback, the average rate on a 30-year home loan is still sharply higher than just two years ago, when it was […]
Asking $39.977 Million, a Tech Entrepreneur’s Home Is One of San Diego’s Priciest Listings
A contemporary San Diego home asking $39.977 million is one of the city’s priciest listings, according to listing agent Craig Lotzof of Compass. The sellers are tech entrepreneur Trevor Klein, 48, and his wife, Staci Klein. Completed in 2020, the roughly 7,800-square-foot is located in the affluent La Jolla neighborhood with unobstructed ocean views. The […]
Housing market could see a wave of inventory in the coming years as 24 million homes present opportunities for Fix & Flip inventory
According to Acom Capital , the housing market could see a wave of much-needed inventory in the coming years, thanks to 24 million homes entering the prime age for renovation, which is becoming more popular among fix-and-flip investors . Presents an opportunity for. Acom Capital said a turnaround in the U.S. housing market could begin next year and continue through […]
Top Fix and Flip Markets in 2023
As real estate markets continue to shift, staying informed of the latest trends and honing in on the top performing markets are important to maximizing investment capital on fix and flip deals. Understanding key factors such as affordability, market stability, housing demand, and renovation costs play an essential role in identifying the best locations to […]
Americans Rush to Buy Houses as Prices Hit New Milestone
Amid declining mortgage rates, the U.S. housing market saw a surge in activity with housing prices reaching their highest point since October of last year. A report issued by Redfin late last week indicated a reinvigoration of buyer and seller participation in the housing market, marked by a steep increase in pending home sales and […]
