Housing Market News
Luxury Market
Second-Home Demand Jumps in September, Bouncing Back After Summer Slowdown
Demand for second homes was up 60% from pre-pandemic levels in September, an uptick from July’s 40% increase but still below March’s record growth. In September, demand for second homes was 60% higher than it was before the coronavirus pandemic hit. While that’s a slowdown from the record 112% surge we saw in March, it’s
Demand for Second Homes Fell 19% Year Over Year in August
Still, interest in vacation homes will likely remain above pre-pandemic levels for the foreseeable future due to the permanent shift to remote work for many Americans. Demand for second homes dropped 19.3% year over year in August, marking the third-straight month of declines. Demand for primary homes also fell, slipping 1% year over year in
Prices of the Most and Least Expensive U.S. Homes Are Surging the Fastest
Luxury-home prices soared 26% year over year in the second quarter, while prices of the most affordable homes grew 19%. Both segments outpaced the rest of the market. The median sale price of U.S. luxury homes jumped 25.8% year over year in the second quarter, while the median sale price of the country’s most affordable
High-End Home Sales Surge Nearly Twice as Fast as Sales of Mid-Priced Homes
Purchases of high-end homes jumped 26% in the three months ending April 30, versus a 15% increase for mid-priced homes. High-end sales rose the most in expensive metros including San Francisco and San Jose. Prices of high-end homes also saw a relatively big climb, up 14%, versus a 10% rise for affordable homes. The biggest
Luxury-Home Sales Rise 42% In First Quarter, Far Outpacing 7% Growth In Affordable-Home Sales
Sales of high-end homes are outperforming as wealthy Americans take advantage of steady paychecks, remote work and low mortgage rates during the pandemic. Sales of luxury homes in the U.S. rose 41.6% year over year in the first quarter of 2021, far outpacing sales growth in every other segment of the housing market. By comparison,
Demand for Vacation Homes Soared 84% Year Over Year in January, Symbolizing Uneven Financial Recovery in the U.S.
Pandemic-driven demand for vacation homes is continuing into 2021 as mortgage applications for second homes see their eighth consecutive month of 80%-plus growth. Demand for second homes is increasing twice as fast as it is for primary residences. Mortgage applications for second homes soared 84% year over year in January. While that’s down from a
Second-Home Demand Jumps in September, Bouncing Back After Summer Slowdown
Demand for second homes was up 60% from pre-pandemic levels in September, an uptick from July’s 40% increase but still below March’s record growth. In September, demand for second homes was 60% higher than it was before the coronavirus pandemic hit. While that’s a slowdown from the record 112% surge we saw in March, it’s
Demand for Second Homes Fell 19% Year Over Year in August
Still, interest in vacation homes will likely remain above pre-pandemic levels for the foreseeable future due to the permanent shift to remote work for many Americans. Demand for second homes dropped 19.3% year over year in August, marking the third-straight month of declines. Demand for primary homes also fell, slipping 1% year over year in
Prices of the Most and Least Expensive U.S. Homes Are Surging the Fastest
Luxury-home prices soared 26% year over year in the second quarter, while prices of the most affordable homes grew 19%. Both segments outpaced the rest of the market. The median sale price of U.S. luxury homes jumped 25.8% year over year in the second quarter, while the median sale price of the country’s most affordable
High-End Home Sales Surge Nearly Twice as Fast as Sales of Mid-Priced Homes
Purchases of high-end homes jumped 26% in the three months ending April 30, versus a 15% increase for mid-priced homes. High-end sales rose the most in expensive metros including San Francisco and San Jose. Prices of high-end homes also saw a relatively big climb, up 14%, versus a 10% rise for affordable homes. The biggest
Luxury-Home Sales Rise 42% In First Quarter, Far Outpacing 7% Growth In Affordable-Home Sales
Sales of high-end homes are outperforming as wealthy Americans take advantage of steady paychecks, remote work and low mortgage rates during the pandemic. Sales of luxury homes in the U.S. rose 41.6% year over year in the first quarter of 2021, far outpacing sales growth in every other segment of the housing market. By comparison,
Demand for Vacation Homes Soared 84% Year Over Year in January, Symbolizing Uneven Financial Recovery in the U.S.
Pandemic-driven demand for vacation homes is continuing into 2021 as mortgage applications for second homes see their eighth consecutive month of 80%-plus growth. Demand for second homes is increasing twice as fast as it is for primary residences. Mortgage applications for second homes soared 84% year over year in January. While that’s down from a
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