anyone else love this post as much as i do

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anyone else love  this post as much as i do

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

Is Refinancing Right for You?

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Is Refinancing Right for You?

https://realtybiznews.com/is-refinancing-right-for-you-2/98757258/

You may be looking for some cash if you overdid the holiday spending. Many people are taking advantage of refinancing during this long stretch of low mortgage rates. An interest rate that lowers your monthly payment and how much you ultimately pay for your home is a good reason to refinance and there are several other reasons you should consider this. Although interest rates have been mostly steady lately, no one can say where they will be in 3 months, 6 months, or a year from now. Rates could drop next week or they could raise well above historic lows for the next decade. You should evaluate whether to refinance a mortgage based on your current situation and today’s rates, not a prediction of future rates.

Your mortgage isn’t the only loan that you
should consider refinancing. You can also put more money in your pocket every
month by refinancing student loans, credit cards, and any other loans. However,
your mortgage is probably your largest loan and will save you the most money
under certain circumstances. The primary considerations before refinancing are:

Reducing your interest rate.Cost of refinancing.Changing the length of your mortgage.Stop paying Private Mortgage Insurance (PMI).Changing your loan type.Taking out equity for other needs such as remodeling or paying off other
debt.

Reducing your interest rate is only one consideration. Everything else being equal, an interest reduction from 5.0% to 3.9% on a $175,000 mortgage amortized for 30 years will save you $114 per month or $1,368 per year. But it’s not that simple. You need to factor in other variables. If you’ve already paid off 10 years of the loan and refinance for another 30 years you will ultimately pay a total of $299,151 (principle and interest only). However, if you pay off the remaining 20 years on the current loan you will pay a total of $277,181 ($19,970 less). This is a function of the amount of time required to repay the loan. On the other hand, if you refinance the same loan at 3.9% but reduce the amortization schedule to 20 years, your monthly payment increases to $1,051 but ultimately your total cost is lowered to $252,304. Time and money are intimately related. Inflation is another time/money relationship to consider. As your income increases in the future, the dollars you pay towards your mortgage are worth less. If your only goal is a lower monthly payment, go with the lower interest rate amortized over another 30 years. If your concern is your total cost, you have much more to think about including the cost of refinancing.

Cost
of refinancing.
The mortgage industry is aggressive and competitive which can be a good thing.
But when you are offered no-cost refinancing, be very wary. Read the fine print
carefully and ask plenty of questions because there are costs involved and
these have to be paid for somehow. They could be rolled into the total loan
which means you’re borrowing and paying interest on more than just your
outstanding balance. Or these could be recovered as a higher than average
interest rate. Charges and fees vary by location and lender and are negotiable.
Typically included are mortgage
application fee, appraisal, loan origination fee, documents preparation fee,
title search fee, recording fee, flood certification, inspection fee, attorney
fee, and survey fee. These fees often cost between $2,000 and $5,000.

Stop paying PMI. If your existing loan was originally for more than 80% of the appraised
value, you’re almost certainly paying PMI in your monthly payment. You can stop
paying PMI once you own 20% or more of the equity in the home. This doesn’t mean
paying off 20% of the loan. The appreciated value counts. If you’ve owned the
home for 5 years and it appreciated in value 5% each year (plus your monthly
loan payments), you now own well over 20% equity in the home. The mortgage
balance date when you will owe less than 80 percent of the original value of
your home should have been given to you in writing on a PMI disclosure form
when you received your mortgage. But don’t assume your lender will
automatically stop collecting the payment. If you decide to keep your existing
loan, send a written request that your lender stop collecting PMI. Be aware
there are other conditions such as if you are current on your payments. If you
refinance for less than 80% of the home value, be sure PMI is not included in your
new monthly payments.

When
NOT to refinance. Refinancing
your mortgage can save you money, but not in every situation nor is it always
desirable as already mentioned. Low interest rates can potentially save you big
bucks but it’s not always the right decision. If you are planning to move or
sell in the future, you need to calculate the breakeven point to determine if
you’ll save anything. Another time is when your credit score is too low for you
to obtain a better interest rate. Waiting until your credit score improves even
just a few points could make a big difference. Taking out a home equity loan
can be appealing when you are struggling with other debts that you are considering
consolidating. If you’re already struggling with debt, increasing your monthly
mortgage payment could put all of your equity at risk if you fall behind on the
payments.

Refinancing into a lower interest rate mortgage can indeed be a good move that puts more money in your pocket – but not always. Be sure you have the full picture before making the decision. Also, our weekly Ask Brian column welcomes questions from readers of all experience levels with residential real estate. Please email your questions, inquiries, or article ideas to [email protected].

Author bio: Brian Kline has been investing in real estate for more than 35 years and writing about real estate investing for 12 years. He also draws upon 30 plus years of business experience including 12 years as a manager at Boeing Aircraft Company. Brian currently lives at Lake Cushman, Washington. A vacation destination, near a national and the Pacific Ocean.

The post Is Refinancing Right for You? appeared first on RealtyBizNews: Real Estate News.

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Meghan Markle is house-hunting in one of Canada's most exclusive enclaves, eyeing a $27 million waterfront property in Vancouver, in yet another …

Planets biggest super fan

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Meghan Markle is house-hunting in one of Canada's most exclusive enclaves, eyeing a $27 million waterfront property in Vancouver, in yet another …

US Home Prices Up 7% in December

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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.

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.

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.

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.

Interesting info so much this is really good more on please

  Posted in Residential on

  by admin

Meghan Markle is house-hunting in one of Canada's most exclusive enclaves, eyeing a $27 million waterfront property in Vancouver, in yet another …