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Global Update: the 20 Hottest U.S. Markets

News from luxury-home markets around the world

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This four-bedroom home in San Francisco is listed for $11.75 million. The city topped realtor.com's recent hottest markets list.

SOTHEBY'S INTERNATIONAL REALTY
This four-bedroom home in San Francisco is listed for $11.75 million. The city topped realtor.com's recent hottest markets list.
SOTHEBY'S INTERNATIONAL REALTY

Housing inventory in the U.S. is finally starting to catch up with demand, according to an analysis by realtor.com. Based on data for the first three weeks of July, the median list price increased to $234,000, up 7% year over year. Find out the top cities in the country based on demand by buyers and speed of home sales. [realtor.com] Dubai's real-estate market is facing headwinds, reports Business Insider. Residential real-estate transactions in Dubai fell 69% in the first half of 2015 compared with the same period a year ago, according to a report by the country's Land Department. In May 2014, as Business Insider notes, the IMF had warned the government that it could be facing another property bubble due to “unsustainable price dynamics and an eventual correction.” [Business Insider] Property values in Notting Hill, the trendy London district, fell 3.8% in the 12 months through July as luxury demand weakened in the U.K. capital, Knight Frank said in a report on Monday. [Bloomberg News] Luxury on another level in the San Francisco Bay Area: Homeowners in South Bay cities are working around square footage restrictions to home additions by taking advantage of their basements and turning them into basically subterranean luxury homes, complete with massage rooms, wine cellars and car garages. The trend, however, is creating concerns over groundwater and grading. [SFGate] Homebuilder NVR and private development partner Timber Ridge are planning to build a 141-unit luxury townhouse community in Fairfax, Va. [Washington Business Journal ] View the San Francisco listing on Mansion Global. Follow Mansion Global on Facebook, Twitter and Instagram