Brokers peg the decline on the new tax law, stock market volatility and a lull in new development closings. Read More
BY THE NUMBERS
LISTING OF THE DAY
There are Redwoods on the land, which includes a main house, “entertainment pavilion” and guest house. Read More
Who needs a green thumb when you have gadgets? Read More
U.S. Homeowner Equity Hits All-Time High
U.S. homeowners today have access to more equity combined than at any previous point in history, a report from Black Knight says. That total is $5.4 trillion, having grown by $735 billion during 2017, 10% more than the previous high, which came in 2005. Since then, homeowners have become much more careful, taking out only $262 billion through home equity lines of credit or cash-out refinances, which represents 1.25% of all accessible equity.
Rising Rents in the San Francisco Bay Area
March rents in the San Francisco Bay Area were up, as the summer-time apartment renting high season nears. A survey by Apartment List showed Oakland prices up 6% year-on-year and San Jose’s up 3% against a nationwide average of 2.3%. The Bay Area’s housing shortage epidemic is causing prices to rise further into the suburbs. Two-bedroom apartments were averaging $5,400 in Danville, $5,050 in Cupertino and $4,670 in Los Altos. San Jose’s rents for one-bedrooms increased by 10% in the last year while San Francisco continues to be the nation’s most expensive city for housing.
Boston Neighborhoods Top $1,000 a Foot in Average Prices
Boston has seen several of its neighborhoods surpass $1,000 per square foot in average housing costs as of April, according to research from NeighborhoodX. At the high end is the Seaport, which averages $1,673 per square foot, followed by Back Bay at $1,413 per square foot, the Theater District at $1,374 per square foot and Beacon Hill at $1,254 per square foot.
Vancouver Real Estate Prices Keep Climbing, but Taxes Could Calm Market
Real estate prices in Greater Vancouver are still rising, but new measures by the province could cool the market, according to a report by credit-rating agency DBRS. The report said the average resale price rose 6% in the fourth quarter, largely recovering from a 18% drop after a foreign buyer’s tax was introduced in 2016. A suite of new tax reforms to address housing affordability could further control prices.
AROUND NEWS CORP
A Family’s $65,000 Bar for All Ages [The Wall Street Journal]
Tips for Selling Your Home This Spring [The Times of London]
Sydney House Hunters Warned to Buy Now Before Prices Begin to Rise Again [news.com.au]
Paralyzed by Paint Colors? The One Person Who Can Help [realtor.com]