Investors took the housing market by storm in the second quarter—buying up $49 billion worth of homes—as surging property prices and rental demand created opportunities for hefty profits. Multifamily properties remain the most popular among investors, but single-family homes and condos are gaining steam. Relatively affordable metros including Phoenix and Miami, which have jumped in
39% of homes are in danger of burning in Utah—the country’s fastest growing state—compared with less than 10% in California, Washington and Oregon. In dollar terms, California has the most real estate in jeopardy, with $628 billion of homes facing high fire risk. In Utah—America’s fastest growing state—two of every five homes (39.4%) face high
Homes With High Flood Risk Are Selling for Nearly $50,000 More Than Low-Risk Homes as Pandemic Buyers Chase Waterfront Properties
The typical home with high flood risk sold for $402,010 in the first quarter—a 14% premium over the typical home with low flood risk. That’s double the premium we saw before the pandemic. The median sale price of homes with high flood risk was $402,010 in the first quarter, compared with $353,783 for homes with
For the first time, home sales are higher than before the pandemic due to low mortgage rates. With low inventory, homes sell fast and prices rise.
It’s Not All About Demand: Home Prices are Sky-High Where It’s Most Difficult and Most Expensive to Acquire and Develop Land
In expensive coastal metros like San Jose, the value of land accounts for more than half of the typical home’s value, far more than it does in inland areas.
Minority Neighborhoods Had the Largest Percentage Gains in Home Equity But Starting with More Equity, White Neighborhoods Had the Largest Absolute-Dollar Gains Homeowners in white, minority and mixed-race neighborhoods posted substantial gains in home equity from 2012 to 2018. Minority neighborhoods started with the lowest levels of home equity but had the largest percentage gains.