Posted in home

California home prices to grow more slowly next year, Realtors forecast, but sales may be stronger

Ultra-low mortgage rates and pent-up demand for single-family homes will offset continued economic uncertainty and a supply shortage in 2021, with the net result being a 3.3% increase in California home sales and a modest 1.3% increase in the median price next year versus 2020, according to a California Association of Realtors forecast published Tuesday.

With only a few months left to go, sales this year are expected to be

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Posted in home

San Antonio-area home sales and prices skyrocket as inventory tightens

Home sales and prices in the San Antonio area soared in September amid pent-up demand, low interest rates and a tight supply of available homes.

Buyers in Bexar and surrounding counties closed on 3,623 homes last month, up about 32 percent from September 2019, the San Antonio Board of Realtors reported Tuesday. Sales year-to-date are up about 8 percent compared with the same period in 2019.

The median price rose about 11 percent to $261,200.

“The significant growth in sales compared to last year shows the housing sector as a possible factor to move the economy forward,” said Kim Bragman, SABOR’s 2020 board chairman. “We are hopeful to see a positive growth of sales for the remainder of the year.”

On ExpressNews.com: Skyline: More details about plans for $560 million mixed-use development near Pearl

Around 68 percent of the homes sold in September were priced between $200,000 and $499,999, compared

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Posted in home

Australian Home Prices May Rebound on Low Rates, Easy Credit

(Bloomberg) — Australian home prices may have bottomed out and could be set to rise through the end of the year on the back of lower interest rates and easier credit, according to Bloomberg Intelligence.



a house with trees in the background: Residential properties stand along a street in Brisbane, Australia, on Tuesday, May 7, 2019. Australian central bank chief Philip Lowe dashed expectations of an interest-rate cut, looking through recent weakness in inflation to hitch the policy outlook to a labor market that he says remains strong.


© Bloomberg
Residential properties stand along a street in Brisbane, Australia, on Tuesday, May 7, 2019. Australian central bank chief Philip Lowe dashed expectations of an interest-rate cut, looking through recent weakness in inflation to hitch the policy outlook to a labor market that he says remains strong.

Property prices have fallen just 3% since the Covid-19 crisis began, defying concern of a steeper slide. A plan to ease responsible-lending rules and mounting speculation for further loosening of monetary policy in coming months may unleash a wave of borrowing, Bloomberg Intelligence analyst Mohsen Crofts said in a report Wednesday.

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What Bloomberg Intelligence says:

Home prices may have reached a near-term bottom in most

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Posted in home

US In Danger Of Becoming A ‘Renter Nation’ As Home Prices Hit Record High, Says Investor

KEY POINTS

  • Every $1,000 increase in home price pushes 150,000 buyers away: Report 
  • Rental prices have dropped by 0.1% since last month: Report
  • Homebuying is currently led by people with jobs and equity

Rising demand for homes, unprecedented levels of mortgage rates and low supply have pushed home prices out of reach for prospective homebuyers, which could make America a ‘renter nation,’ Grant Cardone, a real estate investor, told Yahoo.

“Homeownership is still dead in this country because the only people that are buying homes right now are people that have equity, great credit, and a job,” Cardone said.

For every $1,000 increase in home price, 150,000 buyers are priced out of a possible home purchase, according to a recent report by the National Association of Home Builders (NAHB).

The fall season is known to be good for real estate as home prices fall during this time. Realtor.com, however, suggests

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Posted in home

Home prices are held down by COVID-19 in big cities while climbing sharply in less crowded areas

The housing market has been booming during the COVID-19 crisis, but America’s cities are taking it on the chin.

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And while big cities like New York and San Francisco, in particular, are struggling with falling prices, values in less densely populated cities such as Phoenix and Charlotte, North Carolina, are holding up fairly well, a new analysis shows.

The study underscores that the spread of the virus and the trend toward remote work are driving the housing market, and may continue to restrain price growth in very crowded urban areas while boosting gains in more suburban areas for some time.

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Since the virus began to take a significant toll on public health and the economy in March, many Americans have been fleeing cities for suburban and rural areas both to minimize the risk

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Posted in home

Columbus Day Weekend sales: Prices slashed on home, outdoor and fashion items

Columbus Day, a federal holiday, and Indigenous Peoples Day are Monday, Oct. 12, and retailers once again see this long holiday weekend as a time for sales.

Online home retailer Wayfair is slashing up to 70% off on select items during a clearance event. Bedroom furniture starts at $99, bedding sets at $39.99 and storage solutions at $19.99.

Kitchen and dining furniture and ceiling and wall lights are up to 50% off, living room seating and wall art are up to 60% off and area rugs are up to 70% off.

Save up to 50% on outdoor furniture and up to 55% on TV stands, living room tables and bathroom upgrades.

See more sales on kids furniture, entryway furniture, table and floor lamps, kitchen essentials as well as small electronics and appliances.

If you’re already shopping, here are highlights:

  • Coach Outlet is offering up to 70% off sitewide At Coach,
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Posted in fireplace remodel

Lorella design offers spacious living room | Current Prices

An intriguing three-step hipped roof crowns the Lorella, a small home with a surprisingly spacious living room. Its stately brick column works with the brick detailing on the garage to create an attractive frame for the front door and sidelight.

This plan’s narrow footprint, a mere 40 feet in width, allows for construction on a small lot, deeper than it is wide.

Parents with young children will appreciate the close proximity of the bedrooms, all on the right. Bathrooms, utilities, and closets placed down the middle do double duty, serving as sound buffers between the sleeping rooms and the typically noisier active living areas.

Standing in front of the living room’s gas fireplace, you can gaze outside in three directions. Wide multipaned windows fill most of the front wall, sliders at the rear look out across a patio, and another set of windows flanks the fireplace. On days when you

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Posted in home improvement loans

Red-hot home prices have more consumers saying now is a bad time to buy

People wait to visit a house for sale in Floral Park, Nassau County, New York.

Wang Ying | Xinhua News Agency | Getty Images

Anyone out hunting for a house knows that bidding wars are no longer the exception, but the rule.

Demand for housing has been unusually strong, due to the coronavirus pandemic, and supply is historically lean. That is a recipe for high prices, which are now beginning to take their toll on potential homebuyers’ confidence.

The share of buyers who say they think it’s a good time to buy fell in September, from 59% to 54%, according to a new survey from Fannie Mae.

Home values were up nearly 6% annually, according to CoreLogic, a data analytics firm. More consumers now expect those price gains to grow.

The percentage of respondents to the Fannie Mae survey who says prices will go up in the next year increased

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Posted in home

San Antonio home prices have increased twice as fast as local wages

A recent study from Construction Coverage says home prices in the San Antonio area increased twice as fast as local wages from 2014 to 2019.

The research company released its report Tuesday, stating that the average price for a house in the San Antonio-New Braunfels metro area grew by 32.2 percent during the five-year span, compared to only 16.1 percent for wages.

In 2019, the median home price for the San Antonio area was $204,558 while the median annual wage was $36,130.

READ ALSO: San Antonio apartments are among the smallest in Texas, study says

Data ranked the San Antonio-New Braunfels metro area at 34th on Construction Coverage’s list of major U.S. metros where home prices are outpacing wages. Texas cities also ranked in the list are No.6 Dallas (housing costs grew 3.7 times faster), No. 24 Houston (2.7 times faster) and No. 25 Austin (2.5 times faster).

Las Vegas

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Posted in home repair

Red hot home prices have more consumers saying now is a bad time to buy

  • The share of buyers who say they think it’s a good time to buy fell in September, from 59% to 54%, according to a new survey from Fannie Mae.
  • More people do think now is a good time to sell a home, which is an improvement from the first months of the coronavirus pandemic, when potential sellers didn’t want shoppers in their homes and worried about the state of the overall economy.



a group of people standing in front of a building: People wait to visit a house for sale in Floral Park, Nassau County, New York.


© Provided by CNBC
People wait to visit a house for sale in Floral Park, Nassau County, New York.

Anyone out hunting for a house knows that bidding wars are no longer the exception, but the rule.

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Demand for housing has been unusually strong, due to the coronavirus pandemic, and supply is historically lean. That is a recipe for high prices, which are now beginning to take their toll on potential homebuyers’ confidence.

The share of

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Continue Reading Red hot home prices have more consumers saying now is a bad time to buy