Northern California Dominates List of Fastest-Growing Luxury Markets in U.S.
Six markets in the region saw double-digit price growth in July, Realtor.com finds. Read More
BY THE NUMBERS
TRENDING TODAY
LISTING OF THE DAY
A Refurbished Victorian in West London
This former two-story Victorian has been completely reconfigured behind its stately facade to create a modern four-story home with a stylish backyard garden. Read More
TAX TALK
How Do Town and Village Property Taxes Work in the Hamptons?
The tax system in these Long Island towns can be confusing, as it has developed over three centuries Read More
NEWS BITES
Las Vegas Sees Slowdown in Growth of Prices Home prices in Las Vegas are beginning to stabilize. July’s median price for single-family existing homes was $290,000, which was 11.5% over the July 2017 price but flat from the month earlier. The median price for condos and townhomes was $166,000, which was an increase of 20.3% over a year earlier but measured a slight drop since June. World Property Journal
Americans Increasingly Opting to Rent Renting over buying has become a much more popular option in major American cities. From 2006 to 2016, all of the 50 biggest cities saw the number of renters rise and the number of cities where renters are the majority has gone from 16 to 29. The city that made the biggest move towards renting, with the percentage rising by 11 points, was Memphis, Tennessee, while Honolulu; Las Vegas; Mesa, Arizona; and Atlanta were all close behind. Miami has the most renters at 70%. MarketWatch
Pets Are a Significant Consideration in Home Buying in the U.S. A majority of U.S. home buyers take the needs of their pets into consideration when selecting a new house. In a study by Realtor.com, 75% of buyers with pets said that they would move on from an otherwise perfect house if it didn’t work for their pet. The study showed 87% of respondents saying that the needs of their animal companions are an important consideration. Realtor.com
Mortgage Rates Expected to Lead to Drop in Hong Kong Prices Experts are anticipating that home prices in Hong Kong could experience a significant drop as a result of increasing rates for mortgages. UBS suggested that the prices could see a drop of up to 10% from now until the end of 2019. Hong Kong has had very low mortgage rates for the past 12 years, but this week Citibank upped them and it's expected that others will follow suit. A trade war between the United States and China would likely fuel the price decreases even further. South China Morning Post
Jason Aldean is Selling Tennessee Home A Tennessee home belonging to country singer Jason Aldean and his wife, Brittany, has hit the market for $7.87 million. The 9,000-square-foot six-bedroom home was built a decade ago and has a bowling alley, expansive horse barn, porch swing and woodland area with views of Flat Creek. The couple is expecting a baby and are building a new home, and Aldean recently opened up a Nashville restaurant. New York Post
AROUND NEWS CORP
Is it Time to Close the Door on Open-Concept Homes? [MarketWatch]
Soccer legend Pelé scores $2.85M for Hamptons retreat [New York Post]
Hayden Panettiere Lists a Nashville House That Hits All the Right Notes [Realtor.com]
The Rise of the Fashionable Concrete Home [The Wall Street Journal]
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