- The 20 Hottest U.S. Real Estate Markets in June 2015
- How tech workers are shaping the market nationwide
- Do Home Builders Understand What Buyers Want?
- Zillow: Coastal California house prices may decline as mortgage rates rise
- Bay Area Income Gap Now More Than $250,000 Between Top and Bottom
- 10 Great Design Moves for a Small Courtyard
The 20 Hottest U.S. Real Estate Markets in June 2015 - California again dominated the hottest markets list, with almost half of the country’s 20 hottest real estate markets. This is because supply is tight and the state’s strong economy is fueling demand. San Francisco captured the No. 1 spot from Denver, while Vallejo and Santa Rosa also made the top five.
How tech workers are shaping the market nationwide - Are the bidding wars and all-cash offers we’re so used to seeing in the Bay Area spreading out to rising tech centers across the U.S.? According to Redfin, the answer is a resounding yes. According to data from Redfin and LinkedIn, for every 1% increase in technology workers in a city, there is a roughly .5% increase in home prices above the 6.5% year-over-year national rate of appreciation.
Do Home Builders Understand What Buyers Want? - Are home builders doing a good job of determining what home buyers want? Not according to Nela Richardson, chief economist for brokerage Redfin Corp., and Selma Hepp, chief economist for Zillow Group’s Trulia real-estate website. Richardson and Hepp noted that builders aren’t constructing enough entry-level housing to meet demand; instead, they are tailoring construction toward luxury buyers with ample credit. While builders may not be so sure about the financial prospects of entry-level buyers, the economists say this demographic has demand that is adequate and increasing.
Zillow: Coastal California house prices may decline as mortgage rates rise - If interest rates go on a sustained rise, financing home purchases will become more expensive. The real question then is whether or not these rising costs due to rising interest rates are compensated for by rising wages. If wages rise as fast as interest rates do, then borrowers will still be able to finance large sums, and house prices can remain stable or even rise. However, if wages do not rise as interest rates go up, then loan balances will decline, and house prices will fall again.
Bay Area Income Gap Now More Than $250,000 Between Top and Bottom - The national growth in high-income households has been widening the gap between the wealthiest and the poorest for several decades, with theBay Area’s situation particularly egregious. But the study notes that the number of Bay Area households in the middle-income range is declining as well and contributing to the overall inequality crisis.
10 Great Design Moves for a Small Courtyard - These beautiful enclosed yards show how to get the most from a relatively small outdoor living area. Some of my favorites: