“The slight decline in bidding wars (nationally) is largely a reflection of a seasonal cooldown, which typically starts in the late summer but was delayed by a few months this year,” said Redfin chief economist Daryl Fairweather.
Most Realtors know a fresh coat of new paint can transform a space, but do they know which colors will attract buyers? A new study has the answer.
Homesellers continued to sell homes to each other in September, making the market resemble a game of ‘housing musical chairs,’ according to First American chief economist Mark Fleming.
“If sky-high prices continue to lure more sellers into the market, it could prompt the inventory rebound we’ve been waiting for — which would be welcome news for frustrated buyers.” — Javier Vivas, director of economic research for realtor.com
“Increasing house price appreciation in suburban zip codes points to higher demand relative to supply in the suburbs but does not necessarily indicate what’s fueling the demand,” the study notes.
The cancelation of Art Basel this year has led many developers and brokers who depend on the event for sales to think outside the box by bringing art directly to their projects.
The work from home phenomenon — and the need for a dedicated home office— is driving demand for more space among both buyers and renters.
The suburbs are becoming more alluring to residents of major cities as the COVID-19 pandemic continues into autumn.
The 2010 decade grew the amount of overall building conversions from about 2,000 units converted in the 1950s to roughly 97,000 over the last decade.
South Florida real estate has fared far better than New York during the pandemic, largely because New Yorkers are moving to South Florida. Dawn Pfaff, president of My State MLS, weighs in with the data.