San Francisco real estate market has been facing significant challenges despite the positive impact of artificial intelligence. The vacancy rate for office spaces in San Francisco has reached a record high of 34.5% in the second quarter of the year, indicating a broader struggle across the market. While artificial intelligence has played a role in
Real Estate
The real estate market in Manhattan seems to be shifting towards a buyer’s market as apartment prices experienced a notable decline in the second quarter of 2024. Reports from Douglas Elliman and Miller Samuel indicate that the average sales price for real estate in Manhattan dropped by 3% to slightly over $2 million. Additionally, the
The recent reports in the real estate market indicate a cooling trend in home prices. While prices are still higher than they were a year ago, the rate of price gains is shrinking. According to Redfin, the typical house sold for slightly less than its asking price, marking a significant shift from previous years where
The summer housing market is not shaping up to be any better than the weak spring market that preceded it. Despite high home prices and rising mortgage rates, consumers are showing little interest in increasing home listings. As a result, weekly mortgage demand has remained stagnant for the second consecutive week. The Mortgage Bankers Association
The housing market in April of 2024 saw yet another record high in home prices, despite rising mortgage rates and an influx of homes for sale. Traditionally, in such scenarios, prices would start to weaken. However, the current state of the housing market is unparalleled in recent times. The S&P CoreLogic Case-Shiller National Home Price
Recent data suggests that the typical newly constructed home on the market today is smaller than those available for purchase a decade ago. In the first quarter of 2024, the median size of a single-family home under construction was 2,140 square feet, a decrease from 2,256 square feet in the first quarter of 2023. The
When it comes to purchasing a home in the United States, there are certain areas that pose less of a challenge compared to others. Iroquois County, Illinois, for instance, is currently recognized as the least difficult market to buy a home according to the NBC News Home Buyer Index. This index analyzes various counties based
The National Association of Home Builders reports a significant increase in the construction of single-family, built-for-rent homes in the U.S. Experts attribute this trend to the growing housing affordability crisis. As mortgage rates rise and buying a home becomes more challenging, renting is increasingly becoming a viable option for many individuals. In the first quarter
Recent data shows that the latest drop in mortgage rates did not impress consumers as expected. Despite a 0.9% increase in total mortgage application volume, the response was lackluster. The average contract interest rate for 30-year fixed-rate mortgages decreased to 6.94% from 7.02%, which is the lowest level since March. However, this drop did not
In 2024, Hong Kong once again claimed the title of the world’s most expensive city for expats, according to Mercer’s Cost of Living City Ranking. This ranking revealed that Asia’s major financial centers, including Singapore and Zurich, were among the top three costliest cities for international workers to reside in. Cities in Switzerland, such as