Cherry Mendoza’s Post

Most people know how much housing prices have skyrocketed for homebuyers, but the same has occurred for renters. Columbia Board of REALTORS exec Brian Toohey breaks it down. https://ow.ly/Pyih50R0YJm #RealEstateMarket #RentalMarket #HousingTrends #RentingToday #PropertyPrices #RealEstateInsights #HomeRentals #RentalStatistics #HousingMarketUpdate #RealEstateAnalysis #ColumbiaBoardofREALTORS

2024 BC Assessments are out 🏘️ and we all know they are often throwing some serious weight into home purchases. Homebuyers use BC Assessment's evaluations to navigate the wild world of real estate, giving them the lowdown on property values and helping them figure out if that dream home is a steal or a splurge. The real estate landscape in British Columbia in 2024 is witnessing an intriguing trend. While residential property values have exhibited a degree of stabilization, commercial and industrial assessments are shooting up like rockets, especially in the #FraserValley. Why? Well, land shortage. There's not enough space to go around in the Fraser Valley, so businesses are scrambling for their slice of the pie. This means commercial and industrial properties are spiking in value faster than you can say "sold." Will this affect #rentalprices in 2024??? Let me know in the comments! https://lnkd.in/gup2rXWt

Discover the pitfalls of California's housing market in 2024 as we unveil the four cities prospective homebuyers should steer clear of due to rising prices and affordability challenges. Navigate the real estate landscape wisely to avoid potential setbacks in these selected California locales. Read more below. https://lnkd.in/gUM-knwk

California Housing Market Update 📈 - California home prices are up by 3%, with a median price of $816,300. Homes sold slightly increased, but they are staying on the market longer (33 days on average). - In migration trends, 26% of homebuyers are seeking new metro areas. Florida, North Carolina, and Tennessee top the list for destinations, while many are leaving California, New York, and Illinois. Check out this article to learn more about the latest housing market trend in California 🔽 #2024HousingTrends

🚨 Homebuyers & Renters, heads up! 🏡  The push to mandate the 2021 energy code could SPIKE 💸 new home prices by up to $31K! 😲 While aiming for efficiency 💡, HUD & USDA's move risks pricing many out of the housing market. 🚷  Read the press release from The National Association of Home Builders (NAHB), here: https://lnkd.in/eWviDdZn  Is this the right approach for affordability? Share your thoughts below! 👇 #HousingCrisis #EnergyEfficiency #HomeOwnership #RenterLife

❗Developers and homebuyers in California are encountering significant obstacles in their pursuit, including higher costs, regulatory changes, and the impact of rising interest rates. A recent report in the Los Angeles Times reveals that the state is building fewer homes, which could make it even more expensive. These difficulties pose significant challenges for those seeking to buy or develop property in the Golden State. Read more about the challenges faced by California's developers and homebuyers in the link below. #losangelesrealestate #realestatedevelopment #realestateinvesting

December’s housing starts failed to sustain their November growth but permit activity as well as positive news out of the NAHB suggested construction could rise again this spring. The U.S. Census Bureau and the Department of Housing and Urban Development said housing starts in the U.S. were at a seasonally adjusted annual rate of 1.460 million units in December, down 4.3 percent for the month. A downgrade of November starts from a 1.560 million rate to 1.525 million still left the month with the highest numbers of the year. December starts were 7.5 percent above pace the prior December pace, and higher than the forecast of 1.425 million from analysts polled by Econoday. Single-family starts were at an annual rate of 1.027 million units, a decline of 8.6 percent month-over-month, while multifamily starts increased 7.5 percent to a 417,000 annual pace. Single-family starts were 15.8 percent higher than the previous December while multifamily starts were down 9.5 percent. On a non-adjusted basis, construction was begun on 101,200 residential units last month, 69,900 of them single-family homes. In November the relative numbers were 117,400 and 84,700. #housingmarket #interestrates #mortgage #economy #inflation

Housing affordability got worse in Q2 — and homeownership costs hit a new high https://ift.tt/gzkqiQE Homes across America remained unaffordable for many prospective buyers in the second quarter, with single-family home and condo prices less affordable during that three-month period compared to historical averages in 99% of the nation's counties. That's according to a recent analysis by Attom Data Solutions LLC, which looked at housing data from U.S. counties with a population of at least 100,000 and that had at least 50 single-family home and condo sales in the second quarter. Stay on top of… via Residential Real Estate News - Residential Real Estate News Headlines | Bizjournals.com https://ift.tt/46JpZFe July 19, 2024 at 04:14AM

🏘 Real Estate Market is Undergoing Major Changes 🏘 Homeownership and buying a home is starting to become more and more scarce as the real estate market changes drastically. From analyzing the amount of home sales in June compared to previous months, sales have dropped around 5.4% in comparison in May. Adjusted for seasonal differences, it is still 5% less than June of last year and is the mark of the slowest sales pace since December of 2023. The residential real estate market has now slowly started to shift from a seller’s market to a buyer’s market. More and more houses are put on the market now as housing inventory has surged 23% from a year ago but they are left out on the market longer. A year ago the average home would be on the market for 18 days; now, it averages being on 22 days as these inventory levels are reaching record levels last seen in May of 2020. 🛎 The impacts of the movement in the real estate market, however, are not reflected in pricing. The median home sale in June was $426,000, which has risen over 4% since last year and is at an all time high. The good news here is that sales of lower end homes from the $200k to $350k ranges have grown over 50%, alleviating some of the weight on the housing crisis. 📍 Key Takeaway: As inventory rises, the market favours buyers much more as they gain more power to demand appraisals and inspections with more leverage in the market. Furthermore, as more lower end housing is put on the market, more and more lower income families will gain more power to purchase. Lastly, as inventory continues to increase, we may see sales rise eventually and prices begin to buckle down. ⛰ At Alpine Integrity Group, we make investing accessible through quantitative analysis and tokenomics, providing personalized insights through our various reports and expert guidance. Detailed information can be accessed on our website. Follow us for more updates on relevant financial information!

Las Vegas Housing Market Stats for December Median Single Family Home Price: $449,900 Up from 425,000 a year ago (+5.9%). Down 100 dollars from a month ago at 450k (0.0%). Median Condo/Townhouse Price: $270,000 Up from 246,950 a year ago (+9.3%) Down from 275,000 a month ago (-1.8%) Number of New Single Family Home Listings: 1,500 Down -23.8% from a month ago. Down -10.6% from a year ago. Number of New Condo/Townhome Listings: 501 Down -21% from a month ago Up 10.1% from a year ago. Single Family Homes without offers at end of period: 3,766 Down -13.5% from a month ago Down -39.4% from a year ago. Units Sold this Period: 1,518 Up 5.8% from a month ago Down -1% from a year ago 57.6% of all single-family homes sold within the first 30 days. Down from 65.5% a month ago Up from 40.8% a year ago Months of Inventory Available: Single-family homes: 2.5 months Condos/Townhouses: 2.4 months (Data provided by Applied Analysis a partner of the Las Vegas Realtors Association) Takeaways: Housing supply shrinks, typical for winter. Median home price holds steady, *not so typical*. The interest rate cuts won't show up on statistics until this month as most closings take 30 days. The next round of stats will set the tone for the year. Anecdotally, myself and colleagues have observed buyers returning. Bidding wars have been reported and we experienced one ourselves on a listing. It's early days yet for 2024 but if I had to put money on what comes out in terms of stats for January, I would anticipate a bump up in price from my boots-on-the-ground experiences. Reason? Too little inventory with an influx of buyers.