Nearly 1 in 10 homes in the US are worth $1 million or more — a record high
7 months, 1 week ago

Nearly 1 in 10 homes in the US are worth $1 million or more — a record high

The Independent  

The latest headlines from our reporters across the US sent straight to your inbox each weekday Your briefing on the latest headlines from across the US Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ /verifyErrors }} Buying a home in this economy is becoming a lot harder for first-time buyers, according to new real estate analysis. One Bay Area real estate agent told the outlet that she assumes buyers with a $1m budget are only looking at condos, because even that wouldn’t be enough to afford a single-family home. Even areas that hadn’t historically had high home prices are seeing increasing demand, like Anaheim, where 58 percent of homes are now worth $1m. Only Kansas City, Pittsburgh, Cleveland and Detroit metro areas had about 1 per cent of homes worth $1m.

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History of this topic

REVEALED: The top US city that's slashing home prices by THOUSANDS
5 months, 1 week ago

REVEALED: The top US city that's slashing home prices by THOUSANDS

Daily Mail  

Future homeowners looking to live in the western part of the U.S. should put Phoenix, Arizona at the top of their list. While the city stays hot thanks to desert heat, house prices are finally cooling, with 25 percent of property listings in the city seeing price reductions. Future homeowners looking to live in the western part of the U.S. …

New data reveals a record number of Australian homes surpassed $1 million property value mark
6 months ago

New data reveals a record number of Australian homes surpassed $1 million property value mark

ABC  

A record number of Australian suburbs now have a median house or unit value above $1 million, according to a new report. New data from CoreLogic shows 29.3 per cent — or 1,057 — of the nearly 4,800 suburbs surveyed across the country now have a million-dollar median. Apollo Bay was one of two regional Victoria suburbs that saw median …

Number of US homes worth $1 million or more has hit an all-time high - but the trend is reversing in three 'boomtowns'
7 months, 1 week ago

Number of US homes worth $1 million or more has hit an all-time high - but the trend is reversing in three 'boomtowns'

Daily Mail  

There are more homes worth $1 million in the US than ever before, following years of house price rises. Luxury homes have seen an even faster increase in sale prices over the last year A luxury home for sale in Indianapolis, currently on the market for $1.2 million It is almost double the 4 percent share of the market before …

House prices are about to plummet by 20% in these pandemic boomtowns
8 months ago

House prices are about to plummet by 20% in these pandemic boomtowns

Daily Mail  

House prices boomed across the country during the pandemic but some of these hotspots will see a dramatic drop in valuations, an expert has warned. Gerli, CEO of analytics firm Reventure, predicts they could see prices drop as much as 20 percent over the next few years, with a 15 percent fall in the next year alone. Austin, Texas has …

Dubai's High-End Property Market Faces 47% Decline In Listings Over 12 Months: Report
8 months, 2 weeks ago

Dubai's High-End Property Market Faces 47% Decline In Listings Over 12 Months: Report

News 18  

The number of homes available for sale in Dubai’s prime residential markets, Emirates Hills, Jumeirah Bay Island, Jumeirah Islands and The Palm Jumeirah, has fallen by 47% over the last 12 months to 2,851 properties, according to the latest analyses from global property consultant, Knight Frank. This highlights that the international buyer appetite, particularly among the uber-wealthy, continues to strengthen …

Home prices are falling in these 4 former boomtowns
9 months, 3 weeks ago

Home prices are falling in these 4 former boomtowns

Daily Mail  

Home prices are falling in four former hotspots - as near-record housing costs push homebuyers away. Home prices in San Antonio and Fort Worth have both fallen 1.2 percent, according to the data, while sale prices in Portland, Oregon, are down 0.9 percent. Nationwide, price drops are at their highest since November 2022, according to Redfin, which suggests other areas …

Average homes near $1M in Boston as US housing crisis deepens
10 months ago

Average homes near $1M in Boston as US housing crisis deepens

Daily Mail  

House prices are only going to go up, experts have warned, with Boston set to be the next city where buyers will need $1 million for an average family home. A perfect storm of spiraling construction costs, desperate buyers, and existing owners sitting tight in their homes has seen house prices double in 68 of America's 100 largest cities in …

These are the California cities where $150,000 still buys you a home. Could you live here?
11 months ago

These are the California cities where $150,000 still buys you a home. Could you live here?

LA Times  

A view of the Searles Valley Minerals facility in Trona, Calif. For the last 30 years, Ann Epperly has lived in Trona, one of only nine California cities, towns and unincorporated areas tracked by Zillow with median home values under $150,000 in February 2024. Living off the beaten path has its benefits, she said, noting that “it’s quiet, you don’t …

California housing crisis so bad once-modest towns have become ‘million-dollar cities’
11 months, 2 weeks ago

California housing crisis so bad once-modest towns have become ‘million-dollar cities’

LA Times  

An aerial view of housing in Tustin on Friday. The city has joined California’s growing list of “million-dollar cities.” When you think of towns with $1-million-plus homes, places such as Beverly Hills, San Marino, Newport Beach and Palos Verdes Estates might come to mind. Tustin has joined California’s long list of “million-dollar cities.” Tor Black, 55, has lived in Tustin …

Inside Austin's housing boom and bust: Texan city was the poster child for America's thriving Sunbelt during the pandemic - but as average prices tumble $150K, experts warn properties are now 35% OVER
1 year ago

Inside Austin's housing boom and bust: Texan city was the poster child for America's thriving Sunbelt during the pandemic - but as average prices tumble $150K, experts warn properties are now 35% OVER

Daily Mail  

Median rents have also fallen $235 per month since last June But now they have tumbled $150,000 from their peak, research shows House prices in Austin ballooned from $420,000 to $669,000 during pandemic Its sunny climate, expansive state parks and relative affordability attracted an influx of buyers during the pandemic. Properties in the Texan city are typically selling for $525,750 …

Property values have risen for 12 straight months. Here's how much prices have lifted or fallen in each capital city
1 year, 1 month ago

Property values have risen for 12 straight months. Here's how much prices have lifted or fallen in each capital city

ABC  

Three capital cities continue to power the national property market, with prices rising by 0.4 per cent in January to start off the new year. Brisbane Monthly change: 1 per cent increase 1 per cent increase Brisbane median house value: $888,628 $888,628 Median unit value: $568,595 It was the pockets on the outer fringe of Brisbane that recorded the biggest …

Millions of home owners made $3,000 in January but they probably didn’t notice
1 year, 1 month ago

Millions of home owners made $3,000 in January but they probably didn’t notice

ABC  

It seems there's no stopping the march forward in the Australian property markets. Key points: While housing loans fell in December, strong annual growth remains Solid lending activity is helping to prop up the property market First home buyers and investors are boosting demand "We do expect housing prices to continue to rise by about 6 per cent in capital …

Opinion: The $1-million home is becoming the norm in L.A. This is an outrage we could have prevented
1 year, 7 months ago

Opinion: The $1-million home is becoming the norm in L.A. This is an outrage we could have prevented

LA Times  

Single-family homes in South L.A. More than three-quarters of the region is zoned for them. UC Berkeley’s Terner Center modeled six different housing policies for Los Angeles and found that the single intervention with the biggest impact on supply growth was loosening density restrictions. In 2020, white homeownership reached a postwar peak of 75%, while Black homeownership lagged far behind …

Looking for a house? High mortgages, few homes lead to biggest annual price drop in 11 years
1 year, 10 months ago

Looking for a house? High mortgages, few homes lead to biggest annual price drop in 11 years

Associated Press  

LOS ANGELES — A persistently low inventory of homes on the market held back U.S. home sales again in April, even as the national median sale price posted its biggest annual drop in 11 years. Existing home sales fell 3.4% in April from March to a seasonally adjusted annual rate of 4.28 million, the National Association of Realtors said Thursday. …

Cost of a typical house in the U.S. tops $400,000 for first time
2 years, 9 months ago

Cost of a typical house in the U.S. tops $400,000 for first time

CBS News  

Sky-high housing prices are hitting new heights even as property sales slow, showing how hard it is for most people to buy a home in this economy. "Home sales have essentially returned to the levels seen in 2019 – prior to the pandemic – after two years of gangbuster performance," NAR Chief Economist Lawrence Yun said in a statement. The …

How the pandemic helped scatter $1-million homes across L.A.
3 years, 6 months ago

How the pandemic helped scatter $1-million homes across L.A.

LA Times  

The pandemic economy pushed Southern California’s competitive housing market into such overdrive that a defining marker of wealth — the million-dollar home — has become the norm in a growing number of places. “I don’t even have two bathrooms,” said Alan Torres, a 35-year-old software engineer, who along with his wife, Vanya, recently paid $1.04 million for a two-bedroom, one-bathroom …

The 10 cities with the fastest-rising house prices in the US
3 years, 7 months ago

The 10 cities with the fastest-rising house prices in the US

The Independent  

Sign up to our free money newsletter for investment analysis and expert advice to help you build wealth Sign up to our free money email for help building your wealth Sign up to our free money email for help building your wealth SIGN UP I would like to be emailed about offers, events and updates from The Independent. Meridian, Idaho …

Existing US home sales rose in June; prices hit new highs
3 years, 8 months ago

Existing US home sales rose in June; prices hit new highs

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Sales of previously occupied U.S. …

The US housing market is so hot, buyers are going to wild lengths to get their offers accepted
3 years, 9 months ago

The US housing market is so hot, buyers are going to wild lengths to get their offers accepted

CNN  

What do homebuyers have to do to get a house in this cutthroat real estate market? I’ve never seen anything like it and the reality is it is not going to stop anytime soon.” Thomas Brown, real estate agent, The Agency Texas Altogether the buyer paid $1 million for a $500,000 home, said Brown. They’re saying ‘Even if I pay …

Home prices just smashed another record
3 years, 10 months ago

Home prices just smashed another record

CNN  

Home prices in the US continued to climb in April, reaching new highs and rising at the fastest pace on record. “The insufficient level of inventory amidst fierce competition is putting upward pressure on home prices in most parts of the country.” Low inventory is limiting sales While more inventory came on the market in April compared to March, by …

Home sweet home: US house prices see biggest gain in seven years
3 years, 11 months ago

Home sweet home: US house prices see biggest gain in seven years

Al Jazeera  

Prices rose in all 20 United States cities tracked, and the 12-month increase was larger for all cities in January than in the previous month. United States home prices increased at the fastest pace in seven years in January as the coronavirus pandemic has fuelled demand for single-family houses even as the supply for such homes shrinks. The S&P CoreLogic …

First time homebuyer’s biggest foe? Few homes to buy
4 years, 1 month ago

First time homebuyer’s biggest foe? Few homes to buy

CNN  

It’s a tough time to be a first-time home buyer. Courtesy of Natalie LaVallee Inventory is at record lows The limited number of available homes for sale is pushing potential buyers into bidding wars, spurring home prices ever higher. “Typical inventory for us is 117 homes on the market,” said Connie Strait, an agent with William Raveis in Danbury, Connecticut. …

Home prices went up all over the country
4 years, 1 month ago

Home prices went up all over the country

CNN  

Home prices went up in all major metropolitan areas in the US at the end of last year. Existing home prices rose in all 183 metropolitan statistical areas tracked in the fourth quarter of last year, according to the National Association of Realtors. “The fourth quarter of 2020 presented circumstances ripe for home price increases,” said Lawrence Yun, NAR chief …

US home price gains accelerate as pandemic shakes up housing
4 years, 4 months ago

US home price gains accelerate as pandemic shakes up housing

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy U.S. home prices jumped in …

Housing Boom: Sales of Million-Dollar Homes Double
4 years, 5 months ago

Housing Boom: Sales of Million-Dollar Homes Double

NPR  

Housing Boom: Sales of Million-Dollar Homes Double Enlarge this image toggle caption Justin Sullivan/Getty Images Justin Sullivan/Getty Images The pandemic is driving a major boom in the housing market that's breaking all kinds of records and exposing a very uneven economic recovery between the haves and the have-nots. But Yun says the biggest reason home prices are rising so fast …

Looking to buy a home? It’ll cost you a lot more than a year ago
4 years, 5 months ago

Looking to buy a home? It’ll cost you a lot more than a year ago

CNN  

Home sales were up again in September with prices at a record high and inventory at a record low for the month. “Home prices are rising too fast from insufficient supply and rising demand,” said Lawrence Yun, NAR’s chief economist. “Typical seasonal patterns for home sales have likely been thrown off as a result of this crisis,” said Mike Fratantoni, …

House prices across the US rise NINE percent in one year
6 years, 10 months ago

House prices across the US rise NINE percent in one year

Daily Mail  

Home values across the US are rising at the fastest pace since 2006. The value of a home in the US has increased 8.7 percent since last April to a median of $215,600, according to Zillow. The average value of US homes has risen 8.7 percent since last April to $215,600, Zillow says In Las Vegas there was a 16.5 …

U.S. home sales fell in June; shoppers couldn’t find houses to buy
7 years, 8 months ago

U.S. home sales fell in June; shoppers couldn’t find houses to buy

LA Times  

Homebuyers faced surging prices and a shrinking number of properties for sale in June — causing the pace of sales to fall. Sales of existing homes slipped 1.8% last month to a seasonally adjusted annual rate of 5.52 million, the National Assn. The modest gains come despite solid levels of hiring that have pushed the unemployment rate down to a …

House prices rise by 11.1 per cent in a year
10 years, 9 months ago

House prices rise by 11.1 per cent in a year

Daily Mail  

says Help to Buy is not the main driver of property boom House prices soared by 11.1 per cent in the last 12 months, the strongest growth in seven years, according to Nationwide. The EC report said: ‘The Commission recommends the UK deploys appropriate measures to respond to the rapid increases in property prices, notably in London, for example by …

Australian homes worth $5 trillion as investors hit 10-year high
11 years, 1 month ago

Australian homes worth $5 trillion as investors hit 10-year high

ABC  

Investors are now making up the biggest share of new mortgages in more than a decade, while first home buyers remain sidelined. The Bureau of Statistics housing finance figures for December show investors now account for 39.8 per cent of the value of home loans issued in December. The proportion of first home buyers amongst owner-occupiers remains near record lows …

American home prices rise in 81 per cent of cities as markets recover
12 years, 4 months ago

American home prices rise in 81 per cent of cities as markets recover

The Independent  

The latest headlines from our reporters across the US sent straight to your inbox each weekday Your briefing on the latest headlines from across the US Your briefing on the latest headlines from across the US SIGN UP I would like to be emailed about offers, events and updates from The Independent. The median sales price increased in the third …

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