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 New Jersey Shore real estate market is seeing a widening divide between properties that sell easily and those in distress, where sellers lack the funds to meet regulatory requirements or prepare their homes for sale. Gina Corbisiero, broker-salesperson with Century 21 Solid Gold Realty, says the divide is becoming more pronounced, with distressed sellers ...
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, ...
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 ...
Property due diligence sounds simple until you’re the one trying to untangle what reports you actually need. Suddenly, you’re sorting through appraisals, inspections, flood maps, and a stack of other documents, and it’s still unclear if you’ve addressed the biggest risks. Overlooking a single step can cost thousands or even kill the deal. Albert Slap, ...
Economic development in small Florida towns typically centers on new retail, chain restaurants, or residential subdivisions. Indiantown, a village of 6,500 in western Martin County, is taking a different path. In recent years, Indiantown has attracted a rocket-engine pump-testing facility, a biosolids processing plant, and an ammunition primer manufacturer. These are not the standard projects ...
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 ...
National retail chains are sharply reducing their presence in Chicago. Annual deal volume from major brands like Chipotle, Panera, and Starbucks has dropped from 20–30 transactions per year to just eight to ten, according to Gregory Kirsch, Founder and Managing Broker of Kirsch Agency. This decline is not a short-term, post-COVID pause. It signals a ...
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 ...
