Luxury home prices rose 9% to the highest third-quarter level on record, growing nearly three times faster than non luxury prices. Luxury sales and listings also held up relatively well—a reversal from last year—as a rising share of high-end buyers escaped the pain of high mortgage rates by paying in cash. The median sale price
New builds are taking up a growing share of the pie as builders attract buyers with concessions, and surging mortgage rates prevent existing homeowners from selling. Nationwide, 30.6% of U.S. single-family homes for sale in the third quarter were new construction—the highest share of any third quarter on record. That’s up from 28.9% one year
Albany, Rochester and Buffalo are among the nation’s fastest housing markets. Austin, once known for its speed, is one of the slowest. In Albany, NY, the typical home that sold in September went under contract in just eight days, making it the fastest market in the country. Next came Rochester, NY (9), Grand Rapids, MI
New listings inched up as some homeowners opted to cash out, fearing that elevated mortgage rates could drive a drop in home prices. Pending sales also saw a slight bump as the uptick in listings brought some house hunters off the sidelines. But home purchases fell through at the highest rate in nearly a year
The median U.S. asking rent was little changed from a year earlier for the sixth straight month as an increase in the number of rentals made it harder for landlords to boost prices. But apartment construction has started to slow, which should ultimately help bolster rents. Asking rents are climbing in the Midwest and Northeast,
Baby Boomers were most likely to say the opposite, with nearly half saying dating is more stressful than homebuying. Divorce and finding a new job were the only two listed life events that a majority of respondents said are more stressful than purchasing a home. White respondents said buying a home is more stressful than
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