South Florida’s condo market has entered a downturn, pushing many affluent buyers toward single-family homes. Jerry Lechter, sales associate at Stellar Communities Realty LLC, says the financial case for condo ownership has weakened and no longer appeals to buyers seeking long-term wealth. Rising costs, limited ownership rights, and structural disadvantages are driving this shift. These ...
High-end home sales in South Orange County, California, are holding steady, even as rising interest rates make it harder for most buyers to afford lower-priced homes. According to CaLee McManus, founder of Monarch Real Estate, luxury buyers in South Orange County are largely insulated from the financing challenges that have slowed the broader market. Luxury ...
Median-priced condos purchased at the peak of Austin, Texas’s 2022 housing boom have lost value. Average rents have dropped from $2,400 to $1,900 per month, according to Kasey Jorgenson, broker and founder of Jorgenson Real Estate. The downturn has created a glut of rental inventory. Owners unable to sell at acceptable prices have turned to ...
A surge in post-wildfire insurance costs and new short-term rental bans have created a glut of Maui, Hawaii, condominiums with few qualified buyers, according to Mino McLean, broker with Island Sotheby’s International Realty. The shift, driven by the August 2023 Lahaina wildfires and the passage of Bill 9, has left thousands of units effectively out ...
Hiring by AI startups is driving strong rental demand in San Francisco. Monthly rents have reached $10,000 to $15,000, outpacing the effects of layoffs at larger tech firms. According to Cynthia Kellogg, Co-Founder and Residential Agent at Best Coast Collective, this trend is creating a two-tier market. It is raising rental prices and converting renters ...
The common belief that rising interest rates are keeping homeowners from moving may overlook a key reality, according to David Newcombe, Co-Founder and Associate Broker at Compass Arizona. Newcombe says many homeowners who locked in low mortgage rates have since taken on additional debt through home equity lines and other borrowing, raising their effective debt ...
In Monmouth County, New Jersey, sellers are increasingly unwilling to negotiate on repairs or price reductions, causing deals to fall apart when buyers expect the leverage they had two years ago. Paul Kaminski, a broker associate with Keller Williams Sports + Entertainment, recently lost a transaction after a buyer requested concessions for mold remediation. Kaminski ...
Persistent inventory shortages in desirable suburban areas are changing how homebuyers approach the market, with many abandoning traditional comparison shopping. Instead of touring multiple homes and weighing options over several weeks, buyers are forced to make quick decisions and settle for any property that meets their basic criteria. Yann Rousseau, a REALTOR® with eXp Realty ...
The construction cranes and fenced-off lots around Ball Arena and Coors Field signal more than just stadium renovations. Denver is in the midst of a sports-driven real estate surge that is reshaping entire neighborhoods. This new wave is less about the games themselves and more about creating places where people want to live, work, and ...
Many Utah residents worry that new starter home developments will hurt their neighborhoods or personal finances. But most of these concerns lack evidence, according to Steve Waldrip, Senior Advisor for Housing Strategy and Innovation in the Office of Utah Governor, Spencer J. Cox. After years of working with cities and developers to expand affordable housing, ...
Walking into a Naples home, the kitchen gleams, the pool view impresses, and the price seems right. But a detail in the back bedroom makes you uneasy. You can’t put your finger on it, but something feels wrong. Michael Swanson, owner of Naples Custom Home Cost Consulting and a veteran of hundreds of Southwest Florida ...
The Scottsdale real estate market is diverging by price points, with entry-level condos and homes under $400,000 losing value. At the same time, luxury properties in Paradise Valley and other high-end communities continue to appreciate. Jennifer Wilson, a Realtor at describes this widening gap as a direct response to rising interest rates and affordability pressures ...
For years, Miami’s real estate spotlight has focused on Brickell and downtown, where prices have soared, and competition remains fierce. But as affordability becomes a bigger hurdle, buyers and investors are expanding their searches. According to local agents and residents, several neighborhoods just outside the city’s core are attracting renewed interest with solid construction, improving ...
The Upper West Side has seen a surprising slowdown in its luxury townhouse market over the past two years, even as the neighborhood’s core strengths remain intact. Richard Pretsfelder, Senior Partner at Leslie J. Garfield & Co., notes that demand at the top end has lagged despite continued proximity to Central Park, access to leading ...
Severe inventory shortages in Newport’s coastal luxury market are forcing buyers to pay significant premiums for off-market properties. Traditional listings have become scarce, and direct outreach is now the norm for securing high-end homes. Kimberly Fleming, Broker Associate at Gustave White Sotheby’s International Realty, says the lack of available luxury inventory — defined as properties ...
