Recent data from the U.S. Census Bureau indicates that the average size of newly constructed homes has been decreasing over the past few years. In the first quarter of 2024, the median size of a single-family home under construction was 2,140 square feet, down from 2,256 square feet in the first quarter of 2023. This
Real Estate
Despite the increase in mortgage rates and the rise in home supply, home prices in April continued to set new records. The S&P CoreLogic Case-Shiller National Home Price Index reported a 6.3% increase compared to the same period last year, marking the second consecutive month of a significant jump. According to Brian Luke, head of
The newest real estate indicator in the United States has identified several counties that are considered the easiest places to buy a home. Iroquois County, Illinois, for example, is labeled as the least challenging market to purchase a home. It stands out for being highly cost-effective when compared to other counties. This means that buying
The housing affordability crisis in the United States has led to a significant increase in the construction of single-family built-for-rent homes. According to the National Association of Home Builders (NAHB), the number of these homes being built has surged by 20% in the first quarter of 2024 compared to the same period in 2023. This
The recent decrease in mortgage rates did not seem to have a significant impact on consumers’ behavior. Even though the average contract interest rate for 30-year fixed-rate mortgages dropped to 6.94% from 7.02%, the Mortgage Bankers Association’s seasonally adjusted index only showed a 0.9% increase in total mortgage application volume compared to the previous week.
In 2024, Hong Kong once again secured its position as the most expensive city for expats to reside in, as reported by Mercer. Following Hong Kong, Singapore and Zurich made it to the list of the top three costliest cities for international workers. A significant number of Asian financial centers, including Hong Kong and Singapore,
The shophouses in some of Singapore’s oldest neighborhoods are nothing short of stunning. These colonial-era buildings, some of which date back to the 1840s, are highly sought after by investors despite their exorbitant prices. Just in the first quarter of this year, the sales volume of shophouses in Singapore skyrocketed by 52.2%, amounting to $169.1
With the rise in sea levels and the intensification of storms, coastal real estate is facing unprecedented challenges. Whether it’s in Dana Point, California, Long Island, New York, or Nantucket, Massachusetts, some of the nation’s most expensive coastal properties are at risk due to climate change. Recent reports indicate that this year’s hurricane season is
In a bold move, British financial technology firm Revolut has announced its plans to relocate its official headquarters from London to Canary Wharf, the city’s major financial district. This decision signifies a significant shift for the company, with the global headquarters set to move to the YY London building in the heart of Canary Wharf.
The Mortgage Bankers Association reported a significant surge in mortgage application volume as mortgage rates dropped for much of last week. The total volume increased by nearly 16% compared to the previous week. This surge was mainly driven by a decrease in the average contract interest rate for 30-year fixed-rate mortgages, making it an attractive