America’s ‘Most Expensive Home’ Gets $62 Million Discount
The home is back on the market after a buyer pulled out of a near $190-million deal. Read More
BY THE NUMBERS
TRENDING TODAY
LISTING OF THE DAY
Queen Charlotte’s Orangery Has History and Charm
The home in Bath, England, dates back to the early 19th Century. Read More
SMART HOMES
A Guide to Smart Windows and Shades
The appeal of intelligent windows and shades is transparent. Read More
NEWS BITES
Buyers Experience Competitive U.S. Market Brokers are reporting that the current U.S. market is more competitive than ever in recent memory, a result of low inventory and rising prices. Increased building costs, shortages of labor and new regulations have led to years of underbuilding that are now coming to a head with inventory down 42 consecutive months and 8.5% from last year. At the same time, millennials are aging into prime first-home buying time at the same time that baby boomers are beginning to downsize, leading to even greater competition for the same homes. Curbed
San Francisco Homes Appreciation Rate Far Greater Than Average Salary San Francisco homes appreciate at a rate greater than the area’s average wages, according to data from Zillow. The site found that homes are appreciating $60 for each hour of a 40-hour workweek. That far exceeds the area’s average salary of $36.61 per hour or the national figure of $23.86 per hour. In San Jose, houses are gaining value even more quickly, appreciating $98.81 per working hour. South China Morning Post
Housing Cost Worries Common for Young Residents of Los Angeles Living in Los Angeles is becoming increasingly difficult for young adults, according to a study from the Luskin School of Public Affairs at UCLA, which showed that housing costs are weighing heavily on the minds of the city’s younger population. The study was part of an index on quality of life that measured nine categories, among them cost of living. Of the nine, cost of living scored the lowest, driven by the high housing costs. Los Angeles Times
New Mortgage Rules Could Cool Australia’s Housing Market It could become more difficult to get a mortgage in Australia, as UBS Group analysts predict that the public inquiry into the country’s finance industry will lead to tighter regulation of the mortgage market. That could drag down the housing market, said Sean Fenton, director of Tribeca Investment Partners, as real estate prices are based on credit availability. Sydney’s market has already shown signs of cooling, with prices in March falling 2.1% year-over-year, according to CoreLogic. South China Morning Post
AROUND NEWS CORP
Take Sides on the State of the Market [The Times of London]
Eli Manning Sells Condo for Highest Price in Hoboken History [New York Post]
Buyer Traffic Rising as Real-Estate Agents Report Concern Over Mortgage Rates, Inventory [MarketWatch]
How the French Keep House: 6 Secrets You'll Be Dying to Steal [realtor.com]