Real Estate News
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The pandemic’s real estate jobs boom is turning into a bust as layoffs hit
WASHINGTON — As housing sales gradual amid greater curiosity prices, hundreds of employees who located jobs in the booming housing market of the pandemic are now facing prevalent layoffs with steeper cuts predicted in advance. Some of the most important players in the genuine estate marketplace, which include RE/MAX, Redfin and Wells Fargo, have introduced layoffs in recent months totaling countless numbers of work opportunities. Business analysts are projecting the cuts could sooner or later be on par with what was seen all through the housing crash of 2008. According to the Countrywide Association of Realtors, the quantity of properties remaining sold in the U.S. fell practically 20{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} concerning August…
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Seattle is America’s fastest-cooling housing market, Redfin says
The Seattle-place housing marketplace cooled faster in recent months than any other location in the place, highlighting the squeeze rising curiosity premiums are putting on an high priced marketplace. That evaluation will come from Seattle-based mostly brokerage Redfin, which ranked U.S. metro places primarily based on how rapidly their housing markets are slowing down. The 10 quickest-cooling markets include extensive-dear regions, these kinds of as Seattle and San Diego, as well as metropolitan areas like Phoenix that saw a big influx of new residents all through the pandemic. “These are all places wherever homebuyers are sensation the sting of mounting household rates, increased property finance loan premiums and inflation really…
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Rents Fell for the First Time in a Year, but Renters Shouldn’t Get Excited
There’s no question that rental price ranges stay in the vicinity of document highs throughout the country. But the worst may well be more than for numerous shell-stunned tenants who have been strike with sizeable rental hikes. The median lease in the top 50 metropolitan places fell for the 1st time in nearly a 12 months, dropping $10 off a peak reached in July, according to a recent Real estate agent.com® report. Nonetheless, rents have been nonetheless increased than they have been a year back, at a median $1,771 a thirty day period, despite the fact that this was the first time in the earlier 13 months that they rose…
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Buyer’s Bonanza: The 10 Very Best Cities in America for Home Shoppers Right Now | Real Estate News & Insights
The housing market’s quick shift into a cooldown has many watching carefully to figure out what’s next. Will the latest uptick in mortgage interest rates bring home prices down? Will sellers be more open to negotiating? Will more homes finally go up for sale? Trying to gain an advantage in 2022’s real estate market is a bit like trying to game the New York Stock Exchange: full of contradictory signals, dead ends, and lots and lots of guesswork. Home shoppers looking for the right location at the right price can feel overwhelmed trying to piece together which indicator can help guide them in the right direction. Price reductions? Increases in…
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Lexington, Kentucky home values rise, but sales decline
Median home values in Lexington were up in August, even as gross sales declined. Here’s the hottest on the genuine estate market place. Martin Barraud Getty Images Median property values in Lexington have risen additional than 17{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} in the past yr when dwelling profits have declined in the earlier thirty day period, in accordance to information from Zillow and Rocket Homes. The median worth of a single-family home in Lexington has achieved $342,000, according to the Zillow Home Benefit Index, 17.4{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} more than in August 2021. In the 15 zip codes for which facts are readily available, location code 40510 experienced the finest benefit improve and the greatest median residence…
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Dominant List of Vulnerable Housing Markets
Chicago and New York City Areas Remain Most Exposed to Potential Downturns in Second Quarter of 2022; Other More-At-Risk Markets Scattered Around Nation; South Region Continues to be Less Vulnerable IRVINE, Calif. — Sept. 15, 2022 — ATTOM, a leading curator of real estate data nationwide for land and property data, today released a Special Housing Risk Report spotlighting county-level housing markets around the United States that are more or less vulnerable to declines, based on home affordability, unemployment and other measures in the second quarter of 2022. The report shows that New Jersey, Illinois and inland California continued to have the highest concentrations of the most-at-risk markets in the second quarter –…
