home prices

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Report Illustrates How Sharply Home Costs Have Risen

Americans need to earn six figures in 23 states and territories to afford a house

(Newser) - Anxiety over the US housing market's surging prices is summed up succinctly in a new report from Bankrate . They write that since 2020, the number of households needing to earn six figures to afford a home has skyrocketed from seven states and territories to 23 today. The five highest:...

$1.8B Verdict Could Shake Up the Way You Sell Your Home

Jury found conspiracy among real estate agents regarding commissions

(Newser) - Amid an unforgiving housing market, an apparent win for beleaguered home sellers: A federal jury on Tuesday found the National Association of Realtors (NAR), along with real estate firms Keller Williams Realty and HomeServices of America, conspired to keep home commissions artificially high. They were ordered to pay nearly $1....

'Basic Homeownership' Now Costs a Third of Your Paycheck

Home prices are rising along with mortgage rates, pricing out potential buyers: ATTOM

(Newser) - "Home ownership keeps getting tougher," according to real estate data provider ATTOM, which finds the average American can't afford to buy a home in communities across the country. In a new report , researchers examined median 2022 home prices in 575 US counties and found 99% of prices...

The Era of the Smaller Home Is Upon Us

Square footage is dropping, as are accompanying home prices, as homebuilders try to attract buyers

(Newser) - With the cost of housing so high these days, it's no wonder that many have given up on the idea of homeownership, at least for the time being. Now, homebuilders appear to have hit on a solution of sorts, at least for those willing to embrace minimalism: erecting smaller...

Higher Mortgage Rates Drive Home Prices Down

Index nevertheless shows a monthly increase

(Newser) - For the first time in 11 years, home prices have shown a year-over-year price decline nationally. The S&P CoreLogic Case-Shiller National Home Price Index recorded a 0.2% drop in April, the Wall Street Journal reports. April 2012 was the last time prices had fallen from a year before....

A Win for Couple Who Alleged Racial Bias in Home Valuation

Paul Austin, Tenisha Tate-Austin settle lawsuit with appraisal company, hope to bring change

(Newser) - A Black couple who said the value of their California home increased by almost $500,000 when they had a white friend stand in as the owner have settled a lawsuit with the appraisal company. Paul Austin and Tenisha Tate-Austin of the San Francisco suburb of Marin City will receive...

Home Prices Just Dropped 0.77%. That's Actually Big

It's the largest month-over-month decrease since 2011

(Newser) - It's good news for would-be home buyers, even if it sounds like teeny tiny good news. Home prices dropped 0.77% in July compared to the month prior, marking the first time in three years they've moved in a downward direction, reports CNBC . It's also the biggest...

In These 10 Cities, Open Up Your Wallet to Buy a Home

On the West Coast especially

(Newser) - It's a seller's market, and home prices are booming. The Hill notes that US housing price tags were on an upward climb for decades before COVID, but now that the pandemic is starting to wane, the spike is even more pronounced. Current home prices are coming in at...

Rising Mortgage Rates Throw Complicated Wrench in Market

They make it more expensive to buy but also could lead to lower prices

(Newser) - Mortgage rates on a 30-year loan just clocked in at 4.72%, the highest since 2018, reports the Wall Street Journal . That's up from 3% last summer, which translates into a quite a dent in prospective homeowners' wallets, notes NPR . "It added like $700 a month in monthly...

Home Prices Rose All Over, but in 2 Regions Especially

National home price index jumped 18.8% in 2021

(Newser) - Last year was the best of times for homeowners and the worst of times for those aspiring to own homes, according to a leading measure of home prices in major US metropolitan areas. The S&P CoreLogic Case-Shiller National Home Price Index was up 18.8% for the year, the...

Home Prices Top $350K for the First Time

But with buyers squeezed out, the rate of sales is starting to slow down

(Newser) - The median home price in the US has topped $350,000 for the first time—but with record prices squeezing out buyers, some analysts say the market may be on the brink of cooling. The National Association of Realtors says the median existing-home price in May was $350,300, a...

'This Might Be the Most Competitive Housing Market' Ever

From Seattle to Wichita, homes are selling for well above list prices

(Newser) - The red-hot US housing market is widening the gap between what a home is objectively worth and what eager buyers are willing to pay for it. Fierce competition amid an ultra-low inventory of homes on the market is fueling bidding wars, prompting a growing share of would-be buyers to sweeten...

NYC Mayoral Candidates Wildly Underestimate Local Home Prices

Ex-HUD chief Shaun Donovan, investment banker Ray McGuire miss the mark big time on Brooklyn

(Newser) - Two candidates for New York City mayor had their Lucille Bluth moment this week after they were both wildly off in their estimate on the cost of local housing. The New York Times notes that while neither Shaun Donovan nor Raymond McGuire is considered a frontrunner in the mayoral race,...

They Asked $1.15M for Home, Got Double That


They Asked $1.15M for
Home, Got Double That
in case you missed it
Apr 4, 2021 4:05 PM CDT

They Asked $1.15M for Home, Got Double That

'It's kind of a unicorn,' agent says of Berkeley, Calif., property

(Newser) - A home in Berkeley, Calif., was listed for $1.15 million—and just sold for twice that amount. Listing agent Jill Carrigan of Grubb Co., says it's the first time she’s seen a house sell for $1 million over the asking price. It's "an unusual feat...

Sea Levels Have Florida Housing Market 'in Distress'

Prices and number of sales are dropping in exposed coastal areas

(Newser) - A 2018 study warned that 64,000 Florida homes were at risk to chronic flooding by 2045 because of rising sea levels. The figure rises to 1 million homes by 2100. Now, new research suggests this effect already is showing up in the state's real estate market, reports NPR...

First-Time Home Buyers Should Look Here

First American locates 10 most affordable cities for the group

(Newser) - Americans looking to buy their first home should consider the Midwest and South, according to insurance firm First American . The company uses its own calculations, saying "any affordability metric that includes existing homeowners is wildly misleading to first-time homebuyers" since the former group can already afford a home, per...

10 Toughest Markets to Afford a Home

Brooklyn is steepest, when compared to average incomes

(Newser) - Figuring out the "least affordable housing markets" in the US isn't just a matter of finding the highest prices. For its list, 24/7 Wall Street compared prices to an area's average income. By that standard, New York's Kings County—ie, Brooklyn—is priciest. The top 10:...

Remember McMansions? They Were a Bad Investment

It's not just McMansions; luxury homes built earlier are also going for less

(Newser) - McMansions, defined loosely as mass-produced homes built between 2001 and 2007 weighing in at 3,000 to 5,000 square feet, have long been teased as shoddily built, poorly designed, and outrageously unsophisticated—the fast food version of luxury homes. (See the anonymous blog McMansion Hell for examples.) They...

5 Towns That Prove the Suburbs Aren't Always Cheap

Bel Air, Los Altos Hills make the list

(Newser) - Think moving to the 'burbs will save you money? Not in these neighborhoods. Real estate firm Engel & Völkers has identified the priciest suburb around each of America's 10 most populous urban areas, based on the median home price. The top five, per Forbes :

Home Too Toxic and Dilapidated to Enter Sells for $427K

Seattle housing market is going crazy

(Newser) - How crazy is the housing situation in one of the country's hottest markets? A dilapidated Seattle home described by the Seattle Times as a "Halloween haunted house" recently sold for more than twice its listing price despite partially collapsed ceilings, five feet of standing water, toxic air, hazardous...

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