How to Choose a Homeowner’s Associate Management Company for Your Community

  Posted in Residential on

  by admin

https://realtybiznews.com/how-to-choose-a-homeowners-associate-management-company-for-your-community/98757291/

Is your HOA Board considering hiring an HOA management company? If so, you might have some questions, like “How do we know which company to pick?” or “What should we look for in a management company?” Luckily, the process doesn’t have to be as complicated as you may think. It’s best to start by knowing which questions to ask as an HOA Board about your needs, then knowing what to ask the company based on those needs before forming a decision. Here are a few things to assess in order to hire the right property management company for your community. 

Their availability. 

Depending on the size of your community, you may need an on-site property manager who spends standard office hours on-location, or you may be able to outsource to a property manager who specializes in HOA management. If you choose to hire an outside management company, be sure you have a clear idea of your manager’s daily, weekly, and monthly availability, as well as how many hours a month he or she is planning to devote to your project.

Up-to-date credentials.

Given the complex nature of many of the tasks performed by HOA managers, you may want to consider candidates who have attained certification through Community Associations Institute or other entities such as the CACM which offers specific training for association managers; or you may want to at least require candidates to have general property management certification.

The services they offer.

Just as each property is different, so are property management companies. It’s important that you understand what their role will be and what kind of services you should expect from them. Common HOA property management services include:

AdministrationMaintenanceCustomer serviceFinancialCommunications

However, not all property management companies offer all of these services, while others offer a more robust service package. It’s important that you are clear about the service options of each potential HOA property management company so that your expectations are aligned before you choose a partner to work with.

How they handle maintenance issues. 

 A good residential management company will have procedures in place that clearly define how they’ll respond to maintenance and any other emergency issues that may arise – because as we all know, these issues always happen when we least expect them. 

Find out if a property management company has its own maintenance crew or if they work with preferred vendors. Will they get multiple quotes? Negotiate the best price and pay bills on your behalf? The right property management company for you will be invested in saving your community money and provide you with cost-effective maintenance solutions.

Having a knowledgeable, experienced, and communicative HOA management company can make all the difference in how effectively your community is handled on a day-to-day basis. Having these assessments and questions in place will help you find the right property management company for your HOA needs.

The post How to Choose a Homeowner’s Associate Management Company for Your Community appeared first on RealtyBizNews: Real Estate News.

Amazing post very informative I love

  Posted in Residential on

  by admin

The wine country real estate market showed signs of both slowing and stabilization during the fourth quarter of 2019, said a news release from …

Who else thinks is cool ?

  Posted in Residential on

  by admin

Who else  thinks  is cool ?

2020’s Hottest Paint Colors: Which Is Your…

The perfect hue for your listing could be hiding among paint companies’ top 11 picks.
January 13, 2020

US Home Prices Up 7% in December

  Posted in Residential on

  by admin

https://www.redfin.com/blog/housing-market-news-december-2019/

A record shortage of homes for sale drove prices up on a monthly and annual basis.

U.S. home-sale prices increased 6.9% year over year in December to a median of $312,500 across the 217 metros Redfin tracks. Home prices were also up 1.1% month over month on a seasonally-adjusted basis, the largest increase since February 2018.

“Low mortgage rates and a strong economy fueled homebuyer demand in December, which boosted both home sales and prices,” said Redfin chief economist Daryl Fairweather. “Prices heated up in West Coast metros like Seattle and Los Angeles, which indicates the slowdown of 2019 has officially ended in these markets.”

Prices continued to increase the fastest in affordable metro areas in December. Among the 20 metro areas with the largest year-over-year price increases, 16 were below the national median, led in December by Memphis (median price $190,000, up 15.9%), Camden, NJ ($195,000, +14.7%) and Cincinnati ($187,000, +14.4%).

For the more expensive metro areas, a boost in the loan limits for mortgages backed by FHA, VA, Fannie Mae and Freddie Mac that takes effect in January could impact affordability and put upward pressure on home prices in the sweet spot of the limit increases. The new limit for most of the country is $510,400, up from $484,350 in 2019, while the limit in high-cost areas has increased to $765,600, up from $726,525 in 2019.

Of the 85 largest metro areas Redfin tracks, only two saw a year-over-year decline in the median sale price: In New York, home prices were down 2.4%—possibly as a result of the increase in New York City’s “mansion tax” on homes priced above $1 million. In San Francisco, they fell 1.7%.

Market Summary
December 2019
Month-Over-Month
Year-Over-Year

Median sale price
$312,500
0.5%
6.9%

Homes sold, seasonally-adjusted
276,800
1.0%
6.8%

New listings, seasonally-adjusted
304,600
-1.3%
-5.1%

All Homes for sale
646,800
-14.6%
-14.9%

Median days on market
50
5
-2

Months of supply
2.6
-0.5
-0.8

Sold above list
19.1%
-1.7 pts†
0.6 pts†

Median Off-Market Redfin Estimate
$283,400
-3.6%
3.6%

Average Sale-to-list
97.4%
-0.5 pts†
0.3 pts†

† – “pts” = percentage point change

Nationwide, home sales increased 6.8% year over year in December, the fifth consecutive month of increases, and were up 1.0% from November on a seasonally-adjusted basis.

The markets with the biggest increases in home sales from a year ago were Anaheim, CA (37.7%), North Port, FL (35.8%) and New Haven, CT (23.0%).

The supply of homes for sale fell 14.9% year over year, the biggest decline since March 2013 and the sixth straight month of declines. There were fewer homes for sale last month than any time since at least December 2012. Just one of the 85 largest metros tracked by Redfin posted a year-over-year increase in inventory: Knoxville, TN (5.3%).

Compared to a year ago, the biggest declines in the number of homes for sale were in Salt Lake City (-54.7%), Tacoma, WA (-44.3%) and San Diego, CA (-40.3%).

The rapid reduction in supply can be attributed both to the increase in home sales and to a decline in new listings, which fell 5.1% in December from a year earlier—the largest drop on record since our data began in 2012. “Many homeowners have refinanced their mortgages to take advantage of low interest rates and therefore feel committed to staying put,” continued Fairweather. “The lack of homes for sale is going to fuel competition and price growth in 2020.”

Seasonally-adjusted new listings in December fell the most from a year earlier in Salt Lake City (-50.4%), followed by Allentown, PA (-39.3%) and Kansas City, MO (-38.9%).

Homes sold in December spent two fewer days on market compared to the prior year. In December, the typical home went under contract in 50 days, compared to 52 days in December 2018.

The share of homes sold above list price increased year over year, coming in at 19.1% in December compared to 17.3% a year earlier.

Other December Highlights

Competition

Omaha and Tacoma were the fastest markets, with half of all homes pending sale in just 21 days, down from 23 days and 34 days a year earlier, respectively. Grand Rapids, MI was the next fastest market with 25 median days on market, followed by Buffalo, NY (25) and Fresno (26).
The most competitive market in December was San Francisco where 51.6% of homes sold above list price, followed by Oakland at 44.4%, Tacoma at 41.8%, San Jose at 40.0% and Los Angeles at 36.7%.

Prices

Memphis had the nation’s highest price growth, rising 15.9% since last year to $190,000. Camden, NJ had the second highest at 14.7% year-over-year price growth, followed by Cincinnati (14.4%), Honolulu (14.1%), and Newark, NJ (13.4%).
2 metros saw price declines in December: New York (-2.4%) and San Francisco (-1.7%).

Sales

Anaheim led the nation in year-over-year sales growth, up 37.7%, followed by North Port, FL, up 35.8%. New Haven rounded out the top three with sales up 23.0% from a year ago.
Salt Lake City saw the largest decline in sales since last year, falling 2.8%. Home sales in Camden and New York declined by 2.5% and 1.9%, respectively.

Inventory

Knoxville had the highest increase in the number of homes for sale, up 5.3% year over year.
Salt Lake City had the largest decrease in overall inventory, falling 54.7% since last December. Tacoma (-44.3%), San Diego (-40.3%), and Seattle (-39.7%) also saw far fewer homes available on the market than a year ago.

Redfin Estimate

Miami (90.2%) had the largest share of homes predicted to sell for below list price, according to Redfin Estimate data, followed by Fort Lauderdale (87.3%) and West Palm Beach (87.0%).
San Francisco (10.8%) had the largest share of homes predicted to sell at or above list price, followed by San Jose (15.1%) and Tacoma (17.4%).

Below are market-by-market breakdowns for prices, inventory, new listings and sales for markets with populations of 750,000 or more. For downloadable data on all of the markets Redfin tracks, visit the Redfin Data Center.

Median Sale Price

Redfin Metro
Median Sale Price
Month-Over-Month
Year-Over-Year

Albany, NY
$215,000
-3.4%
10.3%

Allentown, PA
$206,000
-1.9%
8.4%

Anaheim, CA
$720,000
0.0%
5.9%

Atlanta, GA
$250,000
2.0%
5.7%

Austin, TX
$322,400
4.4%
6.2%

Bakersfield, CA
$251,000
0.8%
11.1%

Baltimore, MD
$279,500
1.6%
7.5%

Baton Rouge, LA
$215,000
8.1%
5.9%

Birmingham, AL
$212,000
1.0%
9.8%

Boston, MA
$500,000
2.0%
10.4%

Bridgeport, CT
$390,000
2.6%
2.5%

Buffalo, NY
$160,000
0.6%
8.8%

Camden, NJ
$195,000
-2.5%
14.7%

Charlotte, NC
$267,000
3.5%
11.3%

Chicago, IL
$241,000
0.0%
5.2%

Cincinnati, OH
$187,000
2.5%
14.4%

Cleveland, OH
$146,000
-2.7%
1.4%

Columbus, OH
$210,000
-0.5%
5.1%

Dallas, TX
$303,400
2.8%
2.8%

Dayton, OH
$135,000
-3.5%
3.8%

Denver, CO
$412,500
-0.6%
4.4%

Detroit, MI
$135,000
-3.6%
9.8%

El Paso, TX
$172,700
1.9%
8.6%

Elgin, IL
$215,000
-7.3%
0.9%

Fort Lauderdale, FL
$280,000
1.5%
8.6%

Fort Worth, TX
$249,900
1.6%
4.6%

Frederick, MD
$410,000
-2.9%
4.9%

Fresno, CA
$277,000
-3.8%
5.3%

Grand Rapids, MI
$205,000
-0.5%
7.9%

Greensboro, NC
$175,500
-2.5%
13.3%

Greenville, SC
$213,000
-1.5%
2.4%

Hartford, CT
$219,900
-0.5%
4.5%

Houston, TX
$254,000
4.5%
5.8%

Indianapolis, IN
$192,000
3.2%
9.7%

Jacksonville, FL
$238,000
2.6%
3.5%

Kansas City, MO
$225,000
2.3%
9.8%

Knoxville, TN
$219,000
1.2%
12.9%

Lake County, IL
$224,600
-2.8%
4.5%

Las Vegas, NV
$295,000
2.4%
6.5%

Los Angeles, CA
$649,000
1.4%
8.2%

Louisville, KY
$198,000
4.2%
7.0%

McAllen, TX
$164,000
2.6%
12.4%

Memphis, TN
$190,000
5.6%
15.9%

Miami, FL
$317,000
1.0%
7.5%

Milwaukee, WI
$218,000
0.4%
11.8%

Minneapolis, MN
$279,800
-0.1%
7.6%

Montgomery County, PA
$315,000
-1.6%
5.0%

Nashville, TN
$313,600
2.5%
8.2%

Nassau County, NY
$465,000
2.2%
6.9%

New Brunswick, NJ
$317,500
-3.8%
3.8%

New Haven, CT
$215,000
2.4%
3.6%

New Orleans, LA
$229,400
-2.4%
6.5%

New York, NY
$488,000
-3.4%
-2.4%

Newark, NJ
$368,500
2.6%
13.4%

North Port, FL
$285,200
2.1%
6.4%

Oakland, CA
$725,000
0.8%
5.3%

Oklahoma City, OK
$185,000
0.6%
10.4%

Omaha, NE
$200,200
-3.3%
5.4%

Orlando, FL
$266,500
4.1%
6.6%

Oxnard, CA
$606,500
-0.6%
1.1%

Philadelphia, PA
$215,000
-1.4%
13.2%

Phoenix, AZ
$292,500
2.6%
10.4%

Pittsburgh, PA
$169,900
-4.0%
4.6%

Portland, OR
$400,000
-2.7%
3.9%

Providence, RI
$289,000
-2.2%
7.8%

Raleigh, NC
$290,000
-1.0%
3.9%

Richmond, VA
$265,000
3.9%
11.8%

Riverside, CA
$380,000
0.1%
5.8%

Rochester, NY
$149,900
-0.1%
9.0%

Sacramento, CA
$410,000
-0.7%
3.8%

Salt Lake City, UT
$348,300
1.0%
10.6%

San Antonio, TX
$235,000
4.2%
4.4%

San Diego, CA
$581,000
-3.2%
2.8%

San Francisco, CA
$1,322,500
-3.8%
-1.7%

San Jose, CA
$1,053,800
-2.5%
2.3%

Seattle, WA
$572,500
3.1%
6.0%

St. Louis, MO
$185,300
1.8%
7.4%

Tacoma, WA
$375,000
0.0%
9.3%

Tampa, FL
$245,000
2.9%
7.0%

Tucson, AZ
$237,100
5.4%
12.9%

Tulsa, OK
$178,000
4.7%
7.2%

Urban Honolulu, HI
$615,000
6.8%
14.1%

Virginia Beach, VA
$239,900
3.0%
9.6%

Warren, MI
$211,000
-0.7%
8.2%

Washington, DC
$415,000
0.0%
3.8%

West Palm Beach, FL
$290,000
0.0%
8.3%

Worcester, MA
$282,000
2.5%
8.9%

National

$312,500

0.5%

6.9%

Homes Sold

Redfin Metro
Homes Sold, seasonally adjusted
Month-Over-Month
Year-Over-Year

Albany, NY
816
-5.0%
-1.6%

Allentown, PA
907
-1.0%
7.7%

Anaheim, CA
2,666
2.8%
32.7%

Atlanta, GA
9,230
1.3%
4.4%

Austin, TX
3,112
-0.4%
7.0%

Bakersfield, CA
736
-1.0%
-2.0%

Baltimore, MD
3,595
-0.2%
9.7%

Baton Rouge, LA
879
2.6%
15.8%

Boston, MA
4,447
7.1%
12.9%

Bridgeport, CT
1,068
5.1%
8.7%

Buffalo, NY
1,009
-6.0%
-4.3%

Camden, NJ
1,630
-3.7%
-4.6%

Charlotte, NC
3,860
0.8%
12.6%

Chicago, IL
8,156
3.6%
7.4%

Cincinnati, OH
2,695
0.6%
3.8%

Cleveland, OH
2,442
-1.5%
1.0%

Columbus, OH
2,654
1.2%
8.4%

Dallas, TX
5,804
2.0%
9.8%

Dayton, OH
1,030
1.2%
4.9%

Denver, CO
4,916
5.4%
15.4%

Detroit, MI
1,725
-0.5%
-5.2%

El Paso, TX
700
-2.6%
5.7%

Elgin, IL
937
-0.4%
2.5%

Fort Lauderdale, FL
2,894
-0.4%
3.6%

Fort Worth, TX
2,859
-0.7%
1.7%

Frederick, MD
1,489
-0.1%
8.0%

Fresno, CA
760
-1.5%
2.5%

Grand Rapids, MI
1,321
-3.6%
4.3%

Greensboro, NC
833
-1.5%
17.5%

Greenville, SC
1,169
7.2%
16.8%

Hartford, CT
1,315
1.1%
6.0%

Houston, TX
7,860
2.5%
10.4%

Indianapolis, IN
2,970
-1.4%
7.1%

Jacksonville, FL
2,497
2.6%
10.0%

Kansas City, MO
3,134
3.2%
9.5%

Knoxville, TN
1,278
3.9%
10.6%

Lake County, IL
1,082
4.3%
7.5%

Las Vegas, NV
3,477
0.1%
14.3%

Los Angeles, CA
5,905
-1.1%
10.1%

Louisville, KY
1,282
-9.6%
-1.0%

McAllen, TX
267
-14.6%
9.7%

Memphis, TN
1,092
-1.3%
-0.6%

Miami, FL
2,412
-6.0%
-1.6%

Milwaukee, WI
1,820
1.9%
8.9%

Minneapolis, MN
5,261
1.2%
6.7%

Montgomery County, PA
2,230
0.5%
4.6%

Nashville, TN
3,522
1.8%
16.1%

Nassau County, NY
2,551
-2.8%
-0.9%

New Brunswick, NJ
2,976
-5.9%
1.5%

New Haven, CT
939
1.7%
17.6%

New Orleans, LA
1,161
-6.1%
0.8%

New York, NY
4,318
-2.9%
-5.7%

Newark, NJ
2,187
4.0%
6.8%

North Port, FL
2,095
5.7%
24.4%

Oakland, CA
2,292
4.4%
11.3%

Oklahoma City, OK
1,916
-1.0%
9.3%

Omaha, NE
1,165
-1.4%
7.7%

Orlando, FL
4,082
2.6%
13.2%

Oxnard, CA
694
-5.0%
7.6%

Philadelphia, PA
2,123
-0.9%
0.3%

Phoenix, AZ
8,465
-0.8%
16.8%

Pittsburgh, PA
2,162
-0.8%
4.2%

Portland, OR
3,356
2.0%
14.0%

Providence, RI
1,853
2.0%
11.3%

Raleigh, NC
2,463
3.7%
17.3%

Richmond, VA
1,637
-0.1%
15.0%

Riverside, CA
4,769
0.3%
9.1%

Rochester, NY
1,051
-3.1%
-0.1%

Sacramento, CA
2,648
0.7%
6.7%

Salt Lake City, UT
1,497
-3.8%
-5.4%

San Antonio, TX
2,876
1.7%
7.2%

San Diego, CA
3,069
0.8%
16.4%

San Francisco, CA
916
0.7%
8.7%

San Jose, CA
1,208
-0.1%
12.8%

Seattle, WA
3,980
0.7%
10.5%

St. Louis, MO
3,547
2.6%
8.3%

Tacoma, WA
1,329
2.7%
2.2%

Tampa, FL
5,626
3.4%
13.3%

Tucson, AZ
1,557
2.3%
11.6%

Tulsa, OK
1,156
-2.5%
6.0%

Urban Honolulu, HI
748
0.9%
3.1%

Virginia Beach, VA
2,239
-4.1%
11.4%

Warren, MI
3,412
-0.1%
1.2%

Washington, DC
6,043
1.4%
1.4%

West Palm Beach, FL
2,780
-0.3%
4.3%

Worcester, MA
1,029
0.9%
5.1%

National

276,800

1.0%

6.8%

New Listings

Redfin Metro
New Listings, seasonally adjusted
Month-Over-Month
Year-Over-Year

Albany, NY
934
-0.4%
-15.6%

Allentown, PA
845
-2.5%
-19.8%

Anaheim, CA
2,727
0.0%
-7.5%

Atlanta, GA
10,670
1.7%
0.8%

Austin, TX
3,524
-0.4%
1.5%

Bakersfield, CA
876
-4.6%
-5.0%

Baltimore, MD
4,025
-4.0%
-6.3%

Baton Rouge, LA
821
-12.4%
-23.2%

Boston, MA
4,573
0.0%
-8.7%

Bridgeport, CT
1,230
-0.3%
4.5%

Buffalo, NY
1,067
-4.0%
-16.2%

Camden, NJ
1,936
-1.6%
-7.5%

Charlotte, NC
4,079
0.8%
0.4%

Chicago, IL
10,393
0.9%
-0.4%

Cincinnati, OH
2,963
-0.9%
0.2%

Cleveland, OH
2,813
0.3%
-5.0%

Columbus, OH
2,766
-2.0%
-1.6%

Dallas, TX
7,143
0.7%
1.1%

Dayton, OH
1,166
4.7%
16.0%

Denver, CO
5,291
5.6%
8.5%

Detroit, MI
2,157
-1.6%
-8.3%

El Paso, TX
885
8.1%
3.5%

Elgin, IL
1,176
0.8%
0.3%

Fort Lauderdale, FL
3,539
-3.7%
-11.4%

Fort Worth, TX
3,534
3.2%
7.3%

Frederick, MD
1,685
-4.5%
2.9%

Fresno, CA
845
-6.7%
-7.3%

Grand Rapids, MI
1,404
-2.0%
-8.3%

Greensboro, NC
802
-2.3%
-4.6%

Greenville, SC
1,365
6.3%
13.0%

Hartford, CT
1,402
-4.7%
4.7%

Houston, TX
9,837
0.0%
2.3%

Indianapolis, IN
2,818
-6.7%
-6.3%

Jacksonville, FL
2,765
1.0%
4.8%

Kansas City, MO
2,831
-4.8%
-17.0%

Knoxville, TN
1,147
-12.1%
-9.1%

Lake County, IL
1,258
-7.2%
-14.8%

Las Vegas, NV
3,512
-3.2%
-19.5%

Los Angeles, CA
6,536
0.8%
-8.7%

Louisville, KY
1,420
-4.5%
-8.3%

McAllen, TX
409
-14.6%
-13.7%

Memphis, TN
1,224
-4.9%
-11.1%

Miami, FL
3,704
-5.6%
-11.5%

Milwaukee, WI
1,875
1.1%
-16.8%

Minneapolis, MN
5,547
0.0%
0.9%

Montgomery County, PA
2,679
-0.5%
6.6%

Nashville, TN
3,988
-2.4%
3.5%

Nassau County, NY
3,262
-1.5%
-4.3%

New Brunswick, NJ
3,330
-8.0%
-14.8%

New Haven, CT
984
-6.9%
-1.4%

New Orleans, LA
1,340
-7.7%
-0.4%

New York, NY
7,530
0.7%
-5.5%

Newark, NJ
2,326
-9.9%
-18.1%

North Port, FL
2,214
-1.6%
0.8%

Oakland, CA
2,492
2.8%
-3.2%

Oklahoma City, OK
2,169
2.4%
6.0%

Omaha, NE
1,275
6.2%
11.6%

Orlando, FL
4,493
-1.5%
-0.1%

Oxnard, CA
796
0.1%
-4.8%

Philadelphia, PA
2,632
-7.5%
-6.4%

Phoenix, AZ
8,094
-1.0%
-8.8%

Pittsburgh, PA
2,483
-1.9%
5.7%

Portland, OR
3,317
-1.6%
1.2%

Providence, RI
2,089
-1.0%
-5.0%

Raleigh, NC
2,379
-8.4%
-6.7%

Richmond, VA
1,705
-1.0%
-3.6%

Riverside, CA
5,203
-0.7%
-7.9%

Rochester, NY
1,194
1.1%
4.4%

Sacramento, CA
2,980
0.2%
-5.5%

Salt Lake City, UT
1,357
-2.8%
-26.0%

San Antonio, TX
3,573
4.3%
7.5%

San Diego, CA
3,233
0.7%
-5.5%

San Francisco, CA
1,047
4.8%
4.2%

San Jose, CA
1,174
3.1%
-15.7%

Seattle, WA
4,062
1.5%
15.8%

St. Louis, MO
3,050
-6.2%
-21.5%

Tacoma, WA
1,364
6.8%
5.3%

Tampa, FL
5,886
-1.4%
-4.9%

Tulsa, OK
1,127
-3.5%
-19.9%

Urban Honolulu, HI
839
-5.2%
-20.6%

Virginia Beach, VA
2,424
-4.8%
-3.2%

Warren, MI
3,818
-1.0%
-9.1%

Washington, DC
6,625
-1.3%
-2.0%

West Palm Beach, FL
3,493
0.1%
-5.3%

Worcester, MA
1,046
-15.8%
-14.6%

National

304,600

-1.3%

-5.1%

All Homes for Sale

Redfin Metro
All Homes for Sale
Month-Over-Month
Year-Over-Year

Albany, NY
2,456
-15.1%
-16.3%

Allentown, PA
1,595
-11.6%
-32.4%

Anaheim, CA
4,752
-26.2%
-32.2%

Atlanta, GA
22,448
-10.4%
-8.9%

Austin, TX
5,421
-16.5%
-19.1%

Bakersfield, CA
1,531
-13.7%
-20.1%

Baltimore, MD
7,937
-20.1%
-13.7%

Baton Rouge, LA
3,301
-0.9%
-11.1%

Birmingham, AL
3,333
-14.7%
-17.3%

Boston, MA
5,365
-34.6%
-19.2%

Bridgeport, CT
4,159
-19.8%
-9.4%

Buffalo, NY
1,663
-16.2%
-19.9%

Camden, NJ
4,353
-15.6%
-28.6%

Charlotte, NC
7,925
-17.0%
-17.8%

Chicago, IL
26,941
-7.0%
14.9%

Cincinnati, OH
5,574
-18.1%
-16.0%

Cleveland, OH
5,938
-20.3%
-17.3%

Columbus, OH
4,573
-22.7%
-6.8%

Dallas, TX
13,881
-18.9%
-9.4%

Dayton, OH
1,938
-15.9%
-18.3%

Denver, CO
4,797
-28.5%
-19.2%

Detroit, MI
4,811
-12.7%
-5.5%

El Paso, TX
2,412
-9.8%
-2.5%

Elgin, IL
3,026
-1.4%
18.1%

Fort Lauderdale, FL
12,629
-5.2%
-10.1%

Fort Worth, TX
5,847
-17.6%
-6.0%

Frederick, MD
2,477
-24.5%
-8.9%

Fresno, CA
1,287
-18.7%
-23.3%

Grand Rapids, MI
2,077
-16.9%
-4.8%

Greensboro, NC
1,618
-10.4%
-23.3%

Greenville, SC
3,483
-10.7%
-0.5%

Hartford, CT
4,026
-19.7%
-12.0%

Houston, TX
23,688
-10.4%
-5.9%

Indianapolis, IN
4,563
-18.6%
-15.7%

Jacksonville, FL
6,240
-12.4%
-16.6%

Knoxville, TN
3,331
-11.3%
5.3%

Lake County, IL
3,830
-8.0%
8.2%

Las Vegas, NV
8,575
-14.7%
-13.7%

Los Angeles, CA
11,656
-24.9%
-28.4%

Louisville, KY
2,621
-15.7%
-8.8%

McAllen, TX
1,701
-7.7%
-12.5%

Memphis, TN
2,368
-15.1%
-11.1%

Miami, FL
17,075
-6.7%
-9.6%

Milwaukee, WI
3,585
-20.6%
-7.3%

Minneapolis, MN
7,011
-24.9%
-13.7%

Montgomery County, PA
4,311
-20.9%
-18.3%

Nashville, TN
9,074
-13.5%
-8.1%

Nassau County, NY
8,633
-15.0%
-11.1%

New Brunswick, NJ
9,280
-15.8%
-15.3%

New Haven, CT
2,704
-18.8%
-17.2%

New Orleans, LA
3,883
-10.8%
-2.1%

New York, NY
29,865
-8.0%
-12.7%

Newark, NJ
6,726
-15.5%
-8.2%

North Port, FL
6,324
-3.3%
-19.9%

Oakland, CA
1,597
-37.6%
-35.7%

Oklahoma City, OK
4,326
-8.4%
-14.1%

Omaha, NE
1,570
-15.4%
-12.5%

Orlando, FL
8,435
-10.0%
-17.9%

Oxnard, CA
1,502
-18.7%
-10.8%

Philadelphia, PA
5,466
-18.6%
-8.1%

Phoenix, AZ
13,259
-16.3%
-31.8%

Pittsburgh, PA
7,192
-13.6%
-5.3%

Portland, OR
4,653
-21.3%
-22.9%

Providence, RI
4,183
-19.7%
-18.1%

Raleigh, NC
5,030
-17.7%
-12.1%

Richmond, VA
2,470
-20.4%
-17.1%

Riverside, CA
11,805
-17.3%
-25.2%

Rochester, NY
1,361
-18.9%
-18.9%

Sacramento, CA
3,200
-28.5%
-32.7%

Salt Lake City, UT
1,561
-18.1%
-54.7%

San Antonio, TX
8,013
-11.0%
-4.1%

San Diego, CA
4,108
-24.2%
-40.3%

San Francisco, CA
850
-45.5%
-15.5%

San Jose, CA
923
-43.6%
-37.8%

Seattle, WA
3,308
-31.4%
-39.7%

St. Louis, MO
6,842
-12.8%
-25.0%

Tacoma, WA
1,042
-23.1%
-44.3%

Tampa, FL
11,303
-9.5%
-23.0%

Tulsa, OK
2,449
0.7%
-32.9%

Urban Honolulu, HI
3,040
-11.7%
-2.4%

Virginia Beach, VA
4,788
-16.0%
-24.2%

Warren, MI
7,095
-17.9%
-3.9%

Washington, DC
9,077
-23.6%
-19.1%

West Palm Beach, FL
12,387
-4.5%
-11.9%

Worcester, MA
1,695
-28.6%
-23.0%

National

646,800

-14.6%

-14.9%

Median Off-Market Redfin Estimate

Redfin Metro
Estimate
Month-Over-Month
Year-Over-Year

Albany, NY
$195,100
-6.2%
-9.3%

Allentown, PA
$208,200
-3.7%
-0.4%

Atlanta, GA
$226,900
-1.7%
4.2%

Austin, TX
$294,100
-4.3%
-2.0%

Bakersfield, CA
$189,600
-9.2%
-12.1%

Baltimore, MD
$266,200
-0.9%
4.9%

Baton Rouge, LA
$126,800
-16.6%
-16.2%

Birmingham, AL
$130,700
-8.2%
-12.1%

Boston, MA
$515,900
1.4%
5.9%

Bridgeport, CT
$388,600
0.1%
-37.8%

Buffalo, NY
$147,600
-5.5%
-5.7%

Camden, NJ
$201,900
-1.1%
4.7%

Charlotte, NC
$200,600
-3.2%
-2.1%

Chicago, IL
$259,400
1.3%
7.0%

Cincinnati, OH
$161,400
-5.1%
-3.9%

Cleveland, OH
$138,300
-4.3%
0.1%

Columbus, OH
$193,000
-2.8%
2.5%

Dallas, TX
$255,100
-2.9%
-0.4%

Dayton, OH
$121,800
-1.8%
4.3%

Denver, CO
$405,200
-1.5%
-1.0%

Detroit, MI
$102,200
-5.0%
-3.8%

Fort Lauderdale, FL
$266,300
-1.1%
1.4%

Fort Worth, TX
$216,400
-3.7%
1.8%

Fresno, CA
$255,000
-1.9%
0.7%

Grand Rapids, MI
$166,100
-2.1%
4.0%

Greenville, SC
$155,600
-10.5%
-7.8%

Hartford, CT
$221,400
0.0%
-34.4%

Houston, TX
$195,200
-4.7%
-5.9%

Indianapolis, IN
$160,600
-2.9%
0.5%

Jacksonville, FL
$206,200
-4.9%
-4.7%

Kansas City, MO
$179,200
-3.1%
-3.5%

Knoxville, TN
$174,100
-2.7%
16.1%

Las Vegas, NV
$280,200
-0.4%
2.7%

Los Angeles, CA
$633,900
-0.3%
0.6%

Louisville, KY
$173,000
-1.5%
14.8%

Memphis, TN
$142,300
-2.2%
5.8%

Miami, FL
$312,400
0.1%
5.8%

Milwaukee, WI
$194,900
-1.8%
-6.8%

Minneapolis, MN
$268,800
-1.3%
4.0%

Montgomery County, PA
$320,100
-0.9%
1.3%

Nashville, TN
$269,500
-1.2%
8.8%

New Haven, CT
$219,700
0.0%
-28.5%

New Orleans, LA
$167,700
-6.6%
-1.2%

Newark, NJ
$361,000
-3.1%
-2.9%

Oakland, CA
$761,300
-0.8%
-0.7%

Oklahoma City, OK
$142,500
-4.2%
1.1%

Omaha, NE
$186,500
0.2%
10.4%

Orlando, FL
$230,200
-2.8%
-0.3%

Oxnard, CA
$591,900
-1.4%
-1.6%

Philadelphia, PA
$185,800
-1.8%
-7.1%

Phoenix, AZ
$264,600
-3.2%
-1.0%

Pittsburgh, PA
$131,200
-8.4%
-9.3%

Portland, OR
$393,400
-1.5%
0.9%

Providence, RI
$287,600
-2.5%
-2.5%

Raleigh, NC
$251,700
-5.2%
-4.9%

Richmond, VA
$231,900
-1.1%
4.3%

Riverside, CA
$324,600
-7.3%
-11.0%

Rochester, NY
$142,500
-3.8%
-1.4%

Sacramento, CA
$406,200
-1.5%
1.2%

Salt Lake City, UT
$345,800
-0.1%
6.7%

San Antonio, TX
$181,800
-6.7%
-5.2%

San Diego, CA
$590,900
-1.2%
-0.2%

San Francisco, CA
$1,352,700
0.6%
0.9%

San Jose, CA
$1,116,000
-1.2%
-8.8%

Seattle, WA
$543,800
-2.7%
-3.0%

St. Louis, MO
$155,400
-3.9%
0.1%

Tacoma, WA
$349,000
-3.1%
1.3%

Tampa, FL
$214,900
-3.6%
-1.5%

Tucson, AZ
$197,900
-6.0%
-4.4%

Tulsa, OK
$128,500
-6.3%
-7.5%

Warren, MI
$208,100
-1.2%
-1.6%

Washington, DC
$395,500
-0.7%
2.1%

West Palm Beach, FL
$271,700
-1.0%
2.6%

Worcester, MA
$274,600
-3.5%
-3.3%

National

$283,400

-3.6%

3.6%

The post US Home Prices Up 7% in December appeared first on Redfin Blog.

Rising costs of childcare hits families’ housing budgets, Freddie Mac says

  Posted in Residential on

  by admin

https://realtybiznews.com/rising-costs-of-childcare-hits-families-housing-budgets-freddie-mac-says/98757270/

Freddie Mac has warned that the rising cost of childcare services in the U.S. could force many low-income earners to put off their plans for homeownership.

In a new analysis published this week, Freddie Mac officials reported that U.S. childcare costs have risen by an average 49% over the last 25 years, while the cost of housing has increased by just 14% in the same period.

Freddie’s
researchers found that the average U.S. family spends $715 per month
on child care, rising to $758 per month if the parent with the most
childcare responsibilities (usually the mother) is also employed.

Families
with younger children aged four or less spend an average of $948 per
month on childcare, the report added.

Of
course, the impact of rising childcare costs is felt most keenly by
lower-income families, Freddie’s researchers said. A family that’s
making less than $1,500 per month would need to spend an average of
40% of their income on childcare, while a family that makes over
$4,500 per month would spend just 6.7% of their income.

Freddie
Mac’s chief economist Sam Khater said families today face a
never-ending list of expenses and that presents challenges for both
renters and homeowners. However, he said the burden of childcare is
one of the biggest challenges of all, considering its high cost
relative to people’s incomes.

“Our
analysis finds that those families paying for child care generally
are left with less money for housing,” Khater said. “Specifically,
we find they, on average, pay about half of the median mortgage
payment and nearly 80% of the median rent.”

The post Rising costs of childcare hits families’ housing budgets, Freddie Mac says appeared first on RealtyBizNews: Real Estate News.

US Home Prices Up 7% in December

  Posted in Residential on

  by admin

https://www.redfin.com/blog/housing-market-news-december-2019/

A record shortage of homes for sale drove prices up on a monthly and annual basis.

U.S. home-sale prices increased 6.9% year over year in December to a median of $312,500 across the 217 metros Redfin tracks. Home prices were also up 1.1% month over month on a seasonally-adjusted basis, the largest increase since February 2018.

“Low mortgage rates and a strong economy fueled homebuyer demand in December, which boosted both home sales and prices,” said Redfin chief economist Daryl Fairweather. “Prices heated up in West Coast metros like Seattle and Los Angeles, which indicates the slowdown of 2019 has officially ended in these markets.”

Prices continued to increase the fastest in affordable metro areas in December. Among the 20 metro areas with the largest year-over-year price increases, 16 were below the national median, led in December by Memphis (median price $190,000, up 15.9%), Camden, NJ ($195,000, +14.7%) and Cincinnati ($187,000, +14.4%).

For the more expensive metro areas, a boost in the loan limits for mortgages backed by FHA, VA, Fannie Mae and Freddie Mac that takes effect in January could impact affordability and put upward pressure on home prices in the sweet spot of the limit increases. The new limit for most of the country is $510,400, up from $484,350 in 2019, while the limit in high-cost areas has increased to $765,600, up from $726,525 in 2019.

Of the 85 largest metro areas Redfin tracks, only two saw a year-over-year decline in the median sale price: In New York, home prices were down 2.4%—possibly as a result of the increase in New York City’s “mansion tax” on homes priced above $1 million. In San Francisco, they fell 1.7%.

Market Summary
December 2019
Month-Over-Month
Year-Over-Year

Median sale price
$312,500
0.5%
6.9%

Homes sold, seasonally-adjusted
276,800
1.0%
6.8%

New listings, seasonally-adjusted
304,600
-1.3%
-5.1%

All Homes for sale
646,800
-14.6%
-14.9%

Median days on market
50
5
-2

Months of supply
2.6
-0.5
-0.8

Sold above list
19.1%
-1.7 pts†
0.6 pts†

Median Off-Market Redfin Estimate
$283,400
-3.6%
3.6%

Average Sale-to-list
97.4%
-0.5 pts†
0.3 pts†

† – “pts” = percentage point change

Nationwide, home sales increased 6.8% year over year in December, the fifth consecutive month of increases, and were up 1.0% from November on a seasonally-adjusted basis.

The markets with the biggest increases in home sales from a year ago were Anaheim, CA (37.7%), North Port, FL (35.8%) and New Haven, CT (23.0%).

The supply of homes for sale fell 14.9% year over year, the biggest decline since March 2013 and the sixth straight month of declines. There were fewer homes for sale last month than any time since at least December 2012. Just one of the 85 largest metros tracked by Redfin posted a year-over-year increase in inventory: Knoxville, TN (5.3%).

Compared to a year ago, the biggest declines in the number of homes for sale were in Salt Lake City (-54.7%), Tacoma, WA (-44.3%) and San Diego, CA (-40.3%).

The rapid reduction in supply can be attributed both to the increase in home sales and to a decline in new listings, which fell 5.1% in December from a year earlier—the largest drop on record since our data began in 2012. “Many homeowners have refinanced their mortgages to take advantage of low interest rates and therefore feel committed to staying put,” continued Fairweather. “The lack of homes for sale is going to fuel competition and price growth in 2020.”

Seasonally-adjusted new listings in December fell the most from a year earlier in Salt Lake City (-50.4%), followed by Allentown, PA (-39.3%) and Kansas City, MO (-38.9%).

Homes sold in December spent two fewer days on market compared to the prior year. In December, the typical home went under contract in 50 days, compared to 52 days in December 2018.

The share of homes sold above list price increased year over year, coming in at 19.1% in December compared to 17.3% a year earlier.

Other December Highlights

Competition

Omaha and Tacoma were the fastest markets, with half of all homes pending sale in just 21 days, down from 23 days and 34 days a year earlier, respectively. Grand Rapids, MI was the next fastest market with 25 median days on market, followed by Buffalo, NY (25) and Fresno (26).
The most competitive market in December was San Francisco where 51.6% of homes sold above list price, followed by Oakland at 44.4%, Tacoma at 41.8%, San Jose at 40.0% and Los Angeles at 36.7%.

Prices

Memphis had the nation’s highest price growth, rising 15.9% since last year to $190,000. Camden, NJ had the second highest at 14.7% year-over-year price growth, followed by Cincinnati (14.4%), Honolulu (14.1%), and Newark, NJ (13.4%).
2 metros saw price declines in December: New York (-2.4%) and San Francisco (-1.7%).

Sales

Anaheim led the nation in year-over-year sales growth, up 37.7%, followed by North Port, FL, up 35.8%. New Haven rounded out the top three with sales up 23.0% from a year ago.
Salt Lake City saw the largest decline in sales since last year, falling 2.8%. Home sales in Camden and New York declined by 2.5% and 1.9%, respectively.

Inventory

Knoxville had the highest increase in the number of homes for sale, up 5.3% year over year.
Salt Lake City had the largest decrease in overall inventory, falling 54.7% since last December. Tacoma (-44.3%), San Diego (-40.3%), and Seattle (-39.7%) also saw far fewer homes available on the market than a year ago.

Redfin Estimate

Miami (90.2%) had the largest share of homes predicted to sell for below list price, according to Redfin Estimate data, followed by Fort Lauderdale (87.3%) and West Palm Beach (87.0%).
San Francisco (10.8%) had the largest share of homes predicted to sell at or above list price, followed by San Jose (15.1%) and Tacoma (17.4%).

Below are market-by-market breakdowns for prices, inventory, new listings and sales for markets with populations of 750,000 or more. For downloadable data on all of the markets Redfin tracks, visit the Redfin Data Center.

Median Sale Price

Redfin Metro
Median Sale Price
Month-Over-Month
Year-Over-Year

Albany, NY
$215,000
-3.4%
10.3%

Allentown, PA
$206,000
-1.9%
8.4%

Anaheim, CA
$720,000
0.0%
5.9%

Atlanta, GA
$250,000
2.0%
5.7%

Austin, TX
$322,400
4.4%
6.2%

Bakersfield, CA
$251,000
0.8%
11.1%

Baltimore, MD
$279,500
1.6%
7.5%

Baton Rouge, LA
$215,000
8.1%
5.9%

Birmingham, AL
$212,000
1.0%
9.8%

Boston, MA
$500,000
2.0%
10.4%

Bridgeport, CT
$390,000
2.6%
2.5%

Buffalo, NY
$160,000
0.6%
8.8%

Camden, NJ
$195,000
-2.5%
14.7%

Charlotte, NC
$267,000
3.5%
11.3%

Chicago, IL
$241,000
0.0%
5.2%

Cincinnati, OH
$187,000
2.5%
14.4%

Cleveland, OH
$146,000
-2.7%
1.4%

Columbus, OH
$210,000
-0.5%
5.1%

Dallas, TX
$303,400
2.8%
2.8%

Dayton, OH
$135,000
-3.5%
3.8%

Denver, CO
$412,500
-0.6%
4.4%

Detroit, MI
$135,000
-3.6%
9.8%

El Paso, TX
$172,700
1.9%
8.6%

Elgin, IL
$215,000
-7.3%
0.9%

Fort Lauderdale, FL
$280,000
1.5%
8.6%

Fort Worth, TX
$249,900
1.6%
4.6%

Frederick, MD
$410,000
-2.9%
4.9%

Fresno, CA
$277,000
-3.8%
5.3%

Grand Rapids, MI
$205,000
-0.5%
7.9%

Greensboro, NC
$175,500
-2.5%
13.3%

Greenville, SC
$213,000
-1.5%
2.4%

Hartford, CT
$219,900
-0.5%
4.5%

Houston, TX
$254,000
4.5%
5.8%

Indianapolis, IN
$192,000
3.2%
9.7%

Jacksonville, FL
$238,000
2.6%
3.5%

Kansas City, MO
$225,000
2.3%
9.8%

Knoxville, TN
$219,000
1.2%
12.9%

Lake County, IL
$224,600
-2.8%
4.5%

Las Vegas, NV
$295,000
2.4%
6.5%

Los Angeles, CA
$649,000
1.4%
8.2%

Louisville, KY
$198,000
4.2%
7.0%

McAllen, TX
$164,000
2.6%
12.4%

Memphis, TN
$190,000
5.6%
15.9%

Miami, FL
$317,000
1.0%
7.5%

Milwaukee, WI
$218,000
0.4%
11.8%

Minneapolis, MN
$279,800
-0.1%
7.6%

Montgomery County, PA
$315,000
-1.6%
5.0%

Nashville, TN
$313,600
2.5%
8.2%

Nassau County, NY
$465,000
2.2%
6.9%

New Brunswick, NJ
$317,500
-3.8%
3.8%

New Haven, CT
$215,000
2.4%
3.6%

New Orleans, LA
$229,400
-2.4%
6.5%

New York, NY
$488,000
-3.4%
-2.4%

Newark, NJ
$368,500
2.6%
13.4%

North Port, FL
$285,200
2.1%
6.4%

Oakland, CA
$725,000
0.8%
5.3%

Oklahoma City, OK
$185,000
0.6%
10.4%

Omaha, NE
$200,200
-3.3%
5.4%

Orlando, FL
$266,500
4.1%
6.6%

Oxnard, CA
$606,500
-0.6%
1.1%

Philadelphia, PA
$215,000
-1.4%
13.2%

Phoenix, AZ
$292,500
2.6%
10.4%

Pittsburgh, PA
$169,900
-4.0%
4.6%

Portland, OR
$400,000
-2.7%
3.9%

Providence, RI
$289,000
-2.2%
7.8%

Raleigh, NC
$290,000
-1.0%
3.9%

Richmond, VA
$265,000
3.9%
11.8%

Riverside, CA
$380,000
0.1%
5.8%

Rochester, NY
$149,900
-0.1%
9.0%

Sacramento, CA
$410,000
-0.7%
3.8%

Salt Lake City, UT
$348,300
1.0%
10.6%

San Antonio, TX
$235,000
4.2%
4.4%

San Diego, CA
$581,000
-3.2%
2.8%

San Francisco, CA
$1,322,500
-3.8%
-1.7%

San Jose, CA
$1,053,800
-2.5%
2.3%

Seattle, WA
$572,500
3.1%
6.0%

St. Louis, MO
$185,300
1.8%
7.4%

Tacoma, WA
$375,000
0.0%
9.3%

Tampa, FL
$245,000
2.9%
7.0%

Tucson, AZ
$237,100
5.4%
12.9%

Tulsa, OK
$178,000
4.7%
7.2%

Urban Honolulu, HI
$615,000
6.8%
14.1%

Virginia Beach, VA
$239,900
3.0%
9.6%

Warren, MI
$211,000
-0.7%
8.2%

Washington, DC
$415,000
0.0%
3.8%

West Palm Beach, FL
$290,000
0.0%
8.3%

Worcester, MA
$282,000
2.5%
8.9%

National

$312,500

0.5%

6.9%

Homes Sold

Redfin Metro
Homes Sold, seasonally adjusted
Month-Over-Month
Year-Over-Year

Albany, NY
816
-5.0%
-1.6%

Allentown, PA
907
-1.0%
7.7%

Anaheim, CA
2,666
2.8%
32.7%

Atlanta, GA
9,230
1.3%
4.4%

Austin, TX
3,112
-0.4%
7.0%

Bakersfield, CA
736
-1.0%
-2.0%

Baltimore, MD
3,595
-0.2%
9.7%

Baton Rouge, LA
879
2.6%
15.8%

Boston, MA
4,447
7.1%
12.9%

Bridgeport, CT
1,068
5.1%
8.7%

Buffalo, NY
1,009
-6.0%
-4.3%

Camden, NJ
1,630
-3.7%
-4.6%

Charlotte, NC
3,860
0.8%
12.6%

Chicago, IL
8,156
3.6%
7.4%

Cincinnati, OH
2,695
0.6%
3.8%

Cleveland, OH
2,442
-1.5%
1.0%

Columbus, OH
2,654
1.2%
8.4%

Dallas, TX
5,804
2.0%
9.8%

Dayton, OH
1,030
1.2%
4.9%

Denver, CO
4,916
5.4%
15.4%

Detroit, MI
1,725
-0.5%
-5.2%

El Paso, TX
700
-2.6%
5.7%

Elgin, IL
937
-0.4%
2.5%

Fort Lauderdale, FL
2,894
-0.4%
3.6%

Fort Worth, TX
2,859
-0.7%
1.7%

Frederick, MD
1,489
-0.1%
8.0%

Fresno, CA
760
-1.5%
2.5%

Grand Rapids, MI
1,321
-3.6%
4.3%

Greensboro, NC
833
-1.5%
17.5%

Greenville, SC
1,169
7.2%
16.8%

Hartford, CT
1,315
1.1%
6.0%

Houston, TX
7,860
2.5%
10.4%

Indianapolis, IN
2,970
-1.4%
7.1%

Jacksonville, FL
2,497
2.6%
10.0%

Kansas City, MO
3,134
3.2%
9.5%

Knoxville, TN
1,278
3.9%
10.6%

Lake County, IL
1,082
4.3%
7.5%

Las Vegas, NV
3,477
0.1%
14.3%

Los Angeles, CA
5,905
-1.1%
10.1%

Louisville, KY
1,282
-9.6%
-1.0%

McAllen, TX
267
-14.6%
9.7%

Memphis, TN
1,092
-1.3%
-0.6%

Miami, FL
2,412
-6.0%
-1.6%

Milwaukee, WI
1,820
1.9%
8.9%

Minneapolis, MN
5,261
1.2%
6.7%

Montgomery County, PA
2,230
0.5%
4.6%

Nashville, TN
3,522
1.8%
16.1%

Nassau County, NY
2,551
-2.8%
-0.9%

New Brunswick, NJ
2,976
-5.9%
1.5%

New Haven, CT
939
1.7%
17.6%

New Orleans, LA
1,161
-6.1%
0.8%

New York, NY
4,318
-2.9%
-5.7%

Newark, NJ
2,187
4.0%
6.8%

North Port, FL
2,095
5.7%
24.4%

Oakland, CA
2,292
4.4%
11.3%

Oklahoma City, OK
1,916
-1.0%
9.3%

Omaha, NE
1,165
-1.4%
7.7%

Orlando, FL
4,082
2.6%
13.2%

Oxnard, CA
694
-5.0%
7.6%

Philadelphia, PA
2,123
-0.9%
0.3%

Phoenix, AZ
8,465
-0.8%
16.8%

Pittsburgh, PA
2,162
-0.8%
4.2%

Portland, OR
3,356
2.0%
14.0%

Providence, RI
1,853
2.0%
11.3%

Raleigh, NC
2,463
3.7%
17.3%

Richmond, VA
1,637
-0.1%
15.0%

Riverside, CA
4,769
0.3%
9.1%

Rochester, NY
1,051
-3.1%
-0.1%

Sacramento, CA
2,648
0.7%
6.7%

Salt Lake City, UT
1,497
-3.8%
-5.4%

San Antonio, TX
2,876
1.7%
7.2%

San Diego, CA
3,069
0.8%
16.4%

San Francisco, CA
916
0.7%
8.7%

San Jose, CA
1,208
-0.1%
12.8%

Seattle, WA
3,980
0.7%
10.5%

St. Louis, MO
3,547
2.6%
8.3%

Tacoma, WA
1,329
2.7%
2.2%

Tampa, FL
5,626
3.4%
13.3%

Tucson, AZ
1,557
2.3%
11.6%

Tulsa, OK
1,156
-2.5%
6.0%

Urban Honolulu, HI
748
0.9%
3.1%

Virginia Beach, VA
2,239
-4.1%
11.4%

Warren, MI
3,412
-0.1%
1.2%

Washington, DC
6,043
1.4%
1.4%

West Palm Beach, FL
2,780
-0.3%
4.3%

Worcester, MA
1,029
0.9%
5.1%

National

276,800

1.0%

6.8%

New Listings

Redfin Metro
New Listings, seasonally adjusted
Month-Over-Month
Year-Over-Year

Albany, NY
934
-0.4%
-15.6%

Allentown, PA
845
-2.5%
-19.8%

Anaheim, CA
2,727
0.0%
-7.5%

Atlanta, GA
10,670
1.7%
0.8%

Austin, TX
3,524
-0.4%
1.5%

Bakersfield, CA
876
-4.6%
-5.0%

Baltimore, MD
4,025
-4.0%
-6.3%

Baton Rouge, LA
821
-12.4%
-23.2%

Boston, MA
4,573
0.0%
-8.7%

Bridgeport, CT
1,230
-0.3%
4.5%

Buffalo, NY
1,067
-4.0%
-16.2%

Camden, NJ
1,936
-1.6%
-7.5%

Charlotte, NC
4,079
0.8%
0.4%

Chicago, IL
10,393
0.9%
-0.4%

Cincinnati, OH
2,963
-0.9%
0.2%

Cleveland, OH
2,813
0.3%
-5.0%

Columbus, OH
2,766
-2.0%
-1.6%

Dallas, TX
7,143
0.7%
1.1%

Dayton, OH
1,166
4.7%
16.0%

Denver, CO
5,291
5.6%
8.5%

Detroit, MI
2,157
-1.6%
-8.3%

El Paso, TX
885
8.1%
3.5%

Elgin, IL
1,176
0.8%
0.3%

Fort Lauderdale, FL
3,539
-3.7%
-11.4%

Fort Worth, TX
3,534
3.2%
7.3%

Frederick, MD
1,685
-4.5%
2.9%

Fresno, CA
845
-6.7%
-7.3%

Grand Rapids, MI
1,404
-2.0%
-8.3%

Greensboro, NC
802
-2.3%
-4.6%

Greenville, SC
1,365
6.3%
13.0%

Hartford, CT
1,402
-4.7%
4.7%

Houston, TX
9,837
0.0%
2.3%

Indianapolis, IN
2,818
-6.7%
-6.3%

Jacksonville, FL
2,765
1.0%
4.8%

Kansas City, MO
2,831
-4.8%
-17.0%

Knoxville, TN
1,147
-12.1%
-9.1%

Lake County, IL
1,258
-7.2%
-14.8%

Las Vegas, NV
3,512
-3.2%
-19.5%

Los Angeles, CA
6,536
0.8%
-8.7%

Louisville, KY
1,420
-4.5%
-8.3%

McAllen, TX
409
-14.6%
-13.7%

Memphis, TN
1,224
-4.9%
-11.1%

Miami, FL
3,704
-5.6%
-11.5%

Milwaukee, WI
1,875
1.1%
-16.8%

Minneapolis, MN
5,547
0.0%
0.9%

Montgomery County, PA
2,679
-0.5%
6.6%

Nashville, TN
3,988
-2.4%
3.5%

Nassau County, NY
3,262
-1.5%
-4.3%

New Brunswick, NJ
3,330
-8.0%
-14.8%

New Haven, CT
984
-6.9%
-1.4%

New Orleans, LA
1,340
-7.7%
-0.4%

New York, NY
7,530
0.7%
-5.5%

Newark, NJ
2,326
-9.9%
-18.1%

North Port, FL
2,214
-1.6%
0.8%

Oakland, CA
2,492
2.8%
-3.2%

Oklahoma City, OK
2,169
2.4%
6.0%

Omaha, NE
1,275
6.2%
11.6%

Orlando, FL
4,493
-1.5%
-0.1%

Oxnard, CA
796
0.1%
-4.8%

Philadelphia, PA
2,632
-7.5%
-6.4%

Phoenix, AZ
8,094
-1.0%
-8.8%

Pittsburgh, PA
2,483
-1.9%
5.7%

Portland, OR
3,317
-1.6%
1.2%

Providence, RI
2,089
-1.0%
-5.0%

Raleigh, NC
2,379
-8.4%
-6.7%

Richmond, VA
1,705
-1.0%
-3.6%

Riverside, CA
5,203
-0.7%
-7.9%

Rochester, NY
1,194
1.1%
4.4%

Sacramento, CA
2,980
0.2%
-5.5%

Salt Lake City, UT
1,357
-2.8%
-26.0%

San Antonio, TX
3,573
4.3%
7.5%

San Diego, CA
3,233
0.7%
-5.5%

San Francisco, CA
1,047
4.8%
4.2%

San Jose, CA
1,174
3.1%
-15.7%

Seattle, WA
4,062
1.5%
15.8%

St. Louis, MO
3,050
-6.2%
-21.5%

Tacoma, WA
1,364
6.8%
5.3%

Tampa, FL
5,886
-1.4%
-4.9%

Tulsa, OK
1,127
-3.5%
-19.9%

Urban Honolulu, HI
839
-5.2%
-20.6%

Virginia Beach, VA
2,424
-4.8%
-3.2%

Warren, MI
3,818
-1.0%
-9.1%

Washington, DC
6,625
-1.3%
-2.0%

West Palm Beach, FL
3,493
0.1%
-5.3%

Worcester, MA
1,046
-15.8%
-14.6%

National

304,600

-1.3%

-5.1%

All Homes for Sale

Redfin Metro
All Homes for Sale
Month-Over-Month
Year-Over-Year

Albany, NY
2,456
-15.1%
-16.3%

Allentown, PA
1,595
-11.6%
-32.4%

Anaheim, CA
4,752
-26.2%
-32.2%

Atlanta, GA
22,448
-10.4%
-8.9%

Austin, TX
5,421
-16.5%
-19.1%

Bakersfield, CA
1,531
-13.7%
-20.1%

Baltimore, MD
7,937
-20.1%
-13.7%

Baton Rouge, LA
3,301
-0.9%
-11.1%

Birmingham, AL
3,333
-14.7%
-17.3%

Boston, MA
5,365
-34.6%
-19.2%

Bridgeport, CT
4,159
-19.8%
-9.4%

Buffalo, NY
1,663
-16.2%
-19.9%

Camden, NJ
4,353
-15.6%
-28.6%

Charlotte, NC
7,925
-17.0%
-17.8%

Chicago, IL
26,941
-7.0%
14.9%

Cincinnati, OH
5,574
-18.1%
-16.0%

Cleveland, OH
5,938
-20.3%
-17.3%

Columbus, OH
4,573
-22.7%
-6.8%

Dallas, TX
13,881
-18.9%
-9.4%

Dayton, OH
1,938
-15.9%
-18.3%

Denver, CO
4,797
-28.5%
-19.2%

Detroit, MI
4,811
-12.7%
-5.5%

El Paso, TX
2,412
-9.8%
-2.5%

Elgin, IL
3,026
-1.4%
18.1%

Fort Lauderdale, FL
12,629
-5.2%
-10.1%

Fort Worth, TX
5,847
-17.6%
-6.0%

Frederick, MD
2,477
-24.5%
-8.9%

Fresno, CA
1,287
-18.7%
-23.3%

Grand Rapids, MI
2,077
-16.9%
-4.8%

Greensboro, NC
1,618
-10.4%
-23.3%

Greenville, SC
3,483
-10.7%
-0.5%

Hartford, CT
4,026
-19.7%
-12.0%

Houston, TX
23,688
-10.4%
-5.9%

Indianapolis, IN
4,563
-18.6%
-15.7%

Jacksonville, FL
6,240
-12.4%
-16.6%

Knoxville, TN
3,331
-11.3%
5.3%

Lake County, IL
3,830
-8.0%
8.2%

Las Vegas, NV
8,575
-14.7%
-13.7%

Los Angeles, CA
11,656
-24.9%
-28.4%

Louisville, KY
2,621
-15.7%
-8.8%

McAllen, TX
1,701
-7.7%
-12.5%

Memphis, TN
2,368
-15.1%
-11.1%

Miami, FL
17,075
-6.7%
-9.6%

Milwaukee, WI
3,585
-20.6%
-7.3%

Minneapolis, MN
7,011
-24.9%
-13.7%

Montgomery County, PA
4,311
-20.9%
-18.3%

Nashville, TN
9,074
-13.5%
-8.1%

Nassau County, NY
8,633
-15.0%
-11.1%

New Brunswick, NJ
9,280
-15.8%
-15.3%

New Haven, CT
2,704
-18.8%
-17.2%

New Orleans, LA
3,883
-10.8%
-2.1%

New York, NY
29,865
-8.0%
-12.7%

Newark, NJ
6,726
-15.5%
-8.2%

North Port, FL
6,324
-3.3%
-19.9%

Oakland, CA
1,597
-37.6%
-35.7%

Oklahoma City, OK
4,326
-8.4%
-14.1%

Omaha, NE
1,570
-15.4%
-12.5%

Orlando, FL
8,435
-10.0%
-17.9%

Oxnard, CA
1,502
-18.7%
-10.8%

Philadelphia, PA
5,466
-18.6%
-8.1%

Phoenix, AZ
13,259
-16.3%
-31.8%

Pittsburgh, PA
7,192
-13.6%
-5.3%

Portland, OR
4,653
-21.3%
-22.9%

Providence, RI
4,183
-19.7%
-18.1%

Raleigh, NC
5,030
-17.7%
-12.1%

Richmond, VA
2,470
-20.4%
-17.1%

Riverside, CA
11,805
-17.3%
-25.2%

Rochester, NY
1,361
-18.9%
-18.9%

Sacramento, CA
3,200
-28.5%
-32.7%

Salt Lake City, UT
1,561
-18.1%
-54.7%

San Antonio, TX
8,013
-11.0%
-4.1%

San Diego, CA
4,108
-24.2%
-40.3%

San Francisco, CA
850
-45.5%
-15.5%

San Jose, CA
923
-43.6%
-37.8%

Seattle, WA
3,308
-31.4%
-39.7%

St. Louis, MO
6,842
-12.8%
-25.0%

Tacoma, WA
1,042
-23.1%
-44.3%

Tampa, FL
11,303
-9.5%
-23.0%

Tulsa, OK
2,449
0.7%
-32.9%

Urban Honolulu, HI
3,040
-11.7%
-2.4%

Virginia Beach, VA
4,788
-16.0%
-24.2%

Warren, MI
7,095
-17.9%
-3.9%

Washington, DC
9,077
-23.6%
-19.1%

West Palm Beach, FL
12,387
-4.5%
-11.9%

Worcester, MA
1,695
-28.6%
-23.0%

National

646,800

-14.6%

-14.9%

Median Off-Market Redfin Estimate

Redfin Metro
Estimate
Month-Over-Month
Year-Over-Year

Albany, NY
$195,100
-6.2%
-9.3%

Allentown, PA
$208,200
-3.7%
-0.4%

Atlanta, GA
$226,900
-1.7%
4.2%

Austin, TX
$294,100
-4.3%
-2.0%

Bakersfield, CA
$189,600
-9.2%
-12.1%

Baltimore, MD
$266,200
-0.9%
4.9%

Baton Rouge, LA
$126,800
-16.6%
-16.2%

Birmingham, AL
$130,700
-8.2%
-12.1%

Boston, MA
$515,900
1.4%
5.9%

Bridgeport, CT
$388,600
0.1%
-37.8%

Buffalo, NY
$147,600
-5.5%
-5.7%

Camden, NJ
$201,900
-1.1%
4.7%

Charlotte, NC
$200,600
-3.2%
-2.1%

Chicago, IL
$259,400
1.3%
7.0%

Cincinnati, OH
$161,400
-5.1%
-3.9%

Cleveland, OH
$138,300
-4.3%
0.1%

Columbus, OH
$193,000
-2.8%
2.5%

Dallas, TX
$255,100
-2.9%
-0.4%

Dayton, OH
$121,800
-1.8%
4.3%

Denver, CO
$405,200
-1.5%
-1.0%

Detroit, MI
$102,200
-5.0%
-3.8%

Fort Lauderdale, FL
$266,300
-1.1%
1.4%

Fort Worth, TX
$216,400
-3.7%
1.8%

Fresno, CA
$255,000
-1.9%
0.7%

Grand Rapids, MI
$166,100
-2.1%
4.0%

Greenville, SC
$155,600
-10.5%
-7.8%

Hartford, CT
$221,400
0.0%
-34.4%

Houston, TX
$195,200
-4.7%
-5.9%

Indianapolis, IN
$160,600
-2.9%
0.5%

Jacksonville, FL
$206,200
-4.9%
-4.7%

Kansas City, MO
$179,200
-3.1%
-3.5%

Knoxville, TN
$174,100
-2.7%
16.1%

Las Vegas, NV
$280,200
-0.4%
2.7%

Los Angeles, CA
$633,900
-0.3%
0.6%

Louisville, KY
$173,000
-1.5%
14.8%

Memphis, TN
$142,300
-2.2%
5.8%

Miami, FL
$312,400
0.1%
5.8%

Milwaukee, WI
$194,900
-1.8%
-6.8%

Minneapolis, MN
$268,800
-1.3%
4.0%

Montgomery County, PA
$320,100
-0.9%
1.3%

Nashville, TN
$269,500
-1.2%
8.8%

New Haven, CT
$219,700
0.0%
-28.5%

New Orleans, LA
$167,700
-6.6%
-1.2%

Newark, NJ
$361,000
-3.1%
-2.9%

Oakland, CA
$761,300
-0.8%
-0.7%

Oklahoma City, OK
$142,500
-4.2%
1.1%

Omaha, NE
$186,500
0.2%
10.4%

Orlando, FL
$230,200
-2.8%
-0.3%

Oxnard, CA
$591,900
-1.4%
-1.6%

Philadelphia, PA
$185,800
-1.8%
-7.1%

Phoenix, AZ
$264,600
-3.2%
-1.0%

Pittsburgh, PA
$131,200
-8.4%
-9.3%

Portland, OR
$393,400
-1.5%
0.9%

Providence, RI
$287,600
-2.5%
-2.5%

Raleigh, NC
$251,700
-5.2%
-4.9%

Richmond, VA
$231,900
-1.1%
4.3%

Riverside, CA
$324,600
-7.3%
-11.0%

Rochester, NY
$142,500
-3.8%
-1.4%

Sacramento, CA
$406,200
-1.5%
1.2%

Salt Lake City, UT
$345,800
-0.1%
6.7%

San Antonio, TX
$181,800
-6.7%
-5.2%

San Diego, CA
$590,900
-1.2%
-0.2%

San Francisco, CA
$1,352,700
0.6%
0.9%

San Jose, CA
$1,116,000
-1.2%
-8.8%

Seattle, WA
$543,800
-2.7%
-3.0%

St. Louis, MO
$155,400
-3.9%
0.1%

Tacoma, WA
$349,000
-3.1%
1.3%

Tampa, FL
$214,900
-3.6%
-1.5%

Tucson, AZ
$197,900
-6.0%
-4.4%

Tulsa, OK
$128,500
-6.3%
-7.5%

Warren, MI
$208,100
-1.2%
-1.6%

Washington, DC
$395,500
-0.7%
2.1%

West Palm Beach, FL
$271,700
-1.0%
2.6%

Worcester, MA
$274,600
-3.5%
-3.3%

National

$283,400

-3.6%

3.6%

The post US Home Prices Up 7% in December appeared first on Redfin Blog.

Anything related to this is so important

  Posted in Residential on

  by admin

Anything  related to this is so important

2020’s Hottest Paint Colors: Which Is Your…

The perfect hue for your listing could be hiding among paint companies’ top 11 picks.
January 13, 2020

I <3 ?

  Posted in Residential on

  by admin

I <3  ?

2020’s Hottest Paint Colors: Which Is Your…

The perfect hue for your listing could be hiding among paint companies’ top 11 picks.
January 13, 2020

Rising costs of childcare hits families’ housing budgets, Freddie Mac says

  Posted in Residential on

  by admin

https://realtybiznews.com/rising-costs-of-childcare-hits-families-housing-budgets-freddie-mac-says/98757270/

Freddie Mac has warned that the rising cost of childcare services in the U.S. could force many low-income earners to put off their plans for homeownership.

In a new analysis published this week, Freddie Mac officials reported that U.S. childcare costs have risen by an average 49% over the last 25 years, while the cost of housing has increased by just 14% in the same period.

Freddie’s
researchers found that the average U.S. family spends $715 per month
on child care, rising to $758 per month if the parent with the most
childcare responsibilities (usually the mother) is also employed.

Families
with younger children aged four or less spend an average of $948 per
month on childcare, the report added.

Of
course, the impact of rising childcare costs is felt most keenly by
lower-income families, Freddie’s researchers said. A family that’s
making less than $1,500 per month would need to spend an average of
40% of their income on childcare, while a family that makes over
$4,500 per month would spend just 6.7% of their income.

Freddie
Mac’s chief economist Sam Khater said families today face a
never-ending list of expenses and that presents challenges for both
renters and homeowners. However, he said the burden of childcare is
one of the biggest challenges of all, considering its high cost
relative to people’s incomes.

“Our
analysis finds that those families paying for child care generally
are left with less money for housing,” Khater said. “Specifically,
we find they, on average, pay about half of the median mortgage
payment and nearly 80% of the median rent.”

The post Rising costs of childcare hits families’ housing budgets, Freddie Mac says appeared first on RealtyBizNews: Real Estate News.

New homes are smaller and have fewer bedrooms

  Posted in Residential on

  by admin

New homes are smaller and have fewer bedrooms

https://realtybiznews.com/new-homes-are-smaller-and-have-fewer-bedrooms/98757278/

New home contractors are building homes with fewer bedrooms than previously in order to cater to the demand for smaller, more affordable properties.

According
to the U.S. Census Bureau’s latest survey of construction firms,
the number of bedrooms in the average newly constructed home in the
country is falling.

The amount of new single-family homes that were started with four bedrooms or more dropped from 44.8% in 2017 to 43.5% in 2018, continuing a trend that has been occurring since 2015, the National Association of Home Builders said in its Eye on Housing blog.

The
trend towards fewer bedrooms is in line with an overall trend of
smaller single-family home sizes, the NAHB said.

“These
developments are linked to changes in preferences among home buyers,”
the NAHB explained. “With more millennials becoming prepared to buy
their first home, the starter home share will rise, which means
smaller homes and slightly fewer bedrooms.”

In
2018, the number of single-family homes that had been started with
three bedrooms was the highest of all categories at 45%. Homes with
four bedrooms followed at 34%, homes with two bedrooms comprised 11%
of new builds, and homes with five bedrooms or more was at 9%.

The post New homes are smaller and have fewer bedrooms appeared first on RealtyBizNews: Real Estate News.