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Home Prices Plummet in America’s Most Desirable Cities: What This Means for Buyers
The landscape of residential real estate is ever-evolving, often shifting between buyer and seller markets. Recent trends indicate a potential pivot toward a more buyer-friendly environment, even as mortgage rates continue to fluctuate. According to the latest Realtor.com® September Housing Market Report, over half of the 50 largest U.S. markets are experiencing year-over-year declines in…
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Pending Home Sales Surge to 3-Year High, Florida Lags Amid Storms
Pending home sales have surged by 2% year-over-year, marking the largest gain in three years, according to Redfin’s latest report. However, while many markets are seeing a revival, Florida remains an exception due to recent hurricanes and rising insurance costs. Pending home sales experienced their biggest year-over-year gain in three years, up 2% for the…
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Berkadia Report: Multifamily Operators Turn to Concessions to Attract Renters
U.S. apartment owners and operators are facing increasing competition from new multifamily properties and the appeal of single-family housing. To stay competitive, many are turning to concessions to attract renters. This insight comes from the latest research by Berkadia. Key Findings: According to Berkadia’s October apartment concessions report, more than one out of every five…
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Hurricane Milton’s Impact on Various Sectors: Building Supplies, Banks, and Hotels
As Hurricane Milton approaches Florida’s Gulf Coast, its potential impact spans several sectors, including building materials, banks, and hotels. Described as ‘a dangerous major hurricane’ by the National Hurricane Center, Milton is expected to make landfall late Wednesday. Building Supplies The current trajectory of Hurricane Milton could significantly impact the densely populated Tampa/St. Pete area,…
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OpenAI Leads Big Tech’s Real Estate Rebound with First New York Office
OpenAI is spearheading the tech sector’s resurgence in real estate with a landmark deal to establish its first New York office, marking a significant expansion on the East Coast. Strategic Expansion The San Francisco-based creator of ChatGPT has leased 90,000 square feet in the iconic Puck Building in Manhattan’s SoHo neighborhood. This deal, with landlord…
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Mortgage Rate Drops: Which Cities Will Thrive? 🏡📉
As high mortgage rates begin to fall, homebuyers across the U.S. are set to benefit. However, a new report reveals that some areas will feel the impact more significantly than others. Cities Poised for Change According to Realtor.com®, cities like Denver, Raleigh, NC, and Baltimore are expected to experience a substantial impact from declining mortgage…
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U.S. Demographics Point to Steady Housing Demand
Demographic trends among U.S. apartment renters highlight a strong and ongoing demand for housing, supported by a comprehensive analysis from RealPage. Generational Breakdown The U.S. Census Bureau tracks the population by age, which helps to contextualize the population within generational cohorts: Key Statistics According to RealPage, the median age of apartment renters in the U.S.…
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🚧 Exciting Progress at Township 9, Sacramento: A New Era Unfolds 🚧
The Township 9 master plan near Downtown Sacramento is buzzing with activity as construction advances on the next phase of this transformative project. The development is taking shape, with ten multi-unit structures now topped out, bringing 372 garden-style units across four blocks. What’s Happening at Township 9 In this phase, 372 dwellings are set to…
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🗺️ Exploring the Top 10 States With the Lowest Cost of Living: Where Your Dollar Stretches Furthest 🗺️
Even as inflation rates show signs of stabilizing, many Americans still feel the pinch when shopping for essentials like groceries, gas, and housing. If you’re seeking ways to make your budget go further, where you live can make a significant difference, given the wide variation in cost of living across the U.S. In simple terms,…
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Record Number of Homes Hit the Market as Optimism Over Rate Cuts Sets In
Falling mortgage rates and the Fed’s recent rate cut are invigorating the fall housing market, leading to a surge in new listings. A Surge in New Listings A recent report from Realtor.com® reveals that in September, there were 11.6% more homes newly listed on the market compared to the same period last year. This marks…
Daniel Kaufman Real Estate 