Texas is showing its dominance as three of its cities took the top three spots in the list of the hottest housing markets in Fall 2017. Though these three markets were also in the top five list this Summer, Ten-X explained it remains to be seen what impact Hurricanes Harvey and Irma will have on construction labor forces and housing inventory in Texas and Florida.
Existing home sales increased for the first time after seeing three straight months of declines, beating expectations that September would also see a decline in home sales. However, one expert warns again being overly optimistic about the latest report.
After experiencing one of the worst wildfires in the state’s history, some California homeowners could soon receive disaster assistance from HUD. The department announced it will provide various forms of assistance including foreclosure relief and providing FHA insurance.
Over the past few years, the largest spike in renters hasn’t come from Millennials, but rather, Baby Boomers. While it is unclear why Baby Boomers are suddenly turning to renting, some factors could include a change in lifestyle, consequences of the housing crash or an inability to downsize due to lack of affordable homes.
Overall, housing starts decreased in September, however, single-family housing completions showed double digit growth. But after the slight dip in housing starts in August, September’s decrease in building permits suggests this drop may be the start of a new trend.
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After dropping last month due to the hurricanes, homebuilder confidence is once again on the rise, hitting its highest point since May in October. Homebuilders predict that the new home market will continue to strengthen at a modest rate in the months ahead.
Last year, Lone Wolf Technologies, a provider of residential real estate software, received an injection of new funding from Vista Equity Partners, a private equity firm and previous investor in Lone Wolf. At the time, Lone Wolf said that it planned to use that money to grow it business, and now it’s putting some of that money to use and acquiring Instanet Solutions.
The words tech market, startup culture or unaffordable home prices probably bring to mind San Francisco, the home of tech giants or startups such as Google, Facebook or Lyft. But now, another city might be moving in on the startup territory, and everything that comes with it, including rising home prices.
Like many other areas of the country, New York experienced a boom in higher-end listings since 2013. Now, however, it faces an oversupply as the market at the top softens and the affordable homes and apartments are snatched up faster than the market can keep up with. Landlords at high-end properties are now under increased pressure to lower their rent prices, or watch vacancies increase.