Canadian wildfires could send lumber prices rising again

Wildfires raging in Western Canada could send lumber prices sky high again in a move that would snuff out home buyer’s hopes of some price relief. Lumber prices had been cooling in recent weeks leading to hopes that new home prices would come down. The costs of remodeling projects were also set to benefit. But […]

Buyers are choosing affordability and space over short commutes

Americans are increasingly showing a preference for affordability over shorter commute times, as the price of homes within easy reach of downtown job centers grows more slowly than those that are further flung, a new study has found. The analysis from Zillow and maps provider HERE Technologies notes that short commute times have always come […]

Existing home sales rise in June as inventory improves

Existing home sales rose by 1.4% in June to a seasonally adjusted rate of 5.86 million units, following four months of declining sales. The sales numbers are based on transactions closed in the month, so they could be contracts signed in April or May, the National Association of Realtors reported. Sales are still up massively […]

The condo market has suddenly become red hot

The average condominium sold for above its price tag for the second month in a row in June, signaling renewed demand following a slump in sales fueled by the COVID-19 pandemic. Redfin reported this week that the typical condo sold for 0.7% more than its asking price last month. The month before, condos sold at […]

Cash buyers are getting harder to compete with

Cash is king in the real estate business, and proving that are so-called all-cash buyers who’re picking up more than half of all available homes for sale in some hot markets. Redfin reported this week that almost one third of all home purchases in the U.S. up to July 14 this year were paid for […]

Home builders press Congress to help ease housing shortages

American home builders have called upon Congress to take steps to address a tremendous shortage of affordable homes in the country through policy solutions. Real estate experts have long cited a perceived decline in new home building in the U.S. that began in the wake of the Great Recession last decade. Zillow recently said there […]

Slow rental assistance rollout means many face eviction

With the federal moratorium on evictions set to be lifted at the end of this month, housing industry experts have warned that only a fraction of the $45 billion in rental assistance allocated by Congress has actually been passed on to renters that need it. CNBC said the first $25 billion of that assistance had […]

Facebook planning Willow Village community close to Menlo Park HQ

Facebook Inc. is getting into real estate development, financing a 59-acre planned community close to its Menlo Park, California headquarters that will be home to 1,729 apartments, a hotel with 193 rooms, plus retail outlets and a quarter-mile elevated park. The social media giant said 320 of the apartments it will build will be more […]

Surfside tower collapse could reshape Miami real estate, experts say

The city of Surfside in Florida has, not surprisingly, seen plummeting interest in older condo buildings from buyers and renters in the wake of the tragic collapse of the 12-story Champlain Towers South condominium last month. Real estate agents say they have received far fewer inquiries about older buildings constructed prior to 2000, and those […]

Home prices are rising faster in areas without mass transit

Home prices in areas without mass transit services are rising almost twice as fast as those where public transportation is widely accessible, a new study has found. The Redfin study found that the median home sale price in what it calls “car-dependent areas” has risen by 32.8% to $418,100 since January 2020. At the same […]