Happier Days for Home Buyers
The inventory of US homes on the market and the number of homes with price reductions are both trending upwards, especially in the southern and western US. The number of homes for sale has increased 16% since last February, while the percentage of listings with price reductions increased to almost 17% in February. Denver had the highest number of price reductions and homes-for-sale inventory higher than pre-pandemic levels.
America’s Most Affordable Town
According to U.S. News and World Report, the most affordable city in the US is Youngstown, Ohio. A median-priced home in Youngstown is $137,546, and apartments rent for about $706 per month.
The Anora Movie Mansion
The over-the-top mansion that was seen throughout the Oscar-winning film Anora is an actual home in Brooklyn. The 14,000-square-foot home was discovered by the movie’s director through a Google search for “the biggest and best mansion in Brighton Beach.” The home was priced at $30 million when it was on the market in 2013, but it did not sell. It finally sold for $10 million in 2018 and a few years later for $7.2 million.
Fort Lauderdale Welcomes Spring Breakers & Their Condo-Buying Parents
It’s spring break time in Fort Lauderdale, and thousands of college students and their friends will be heading to the Florida beach town. Developers hope their parents might also visit and buy one of the multi-million-dollar Fort Lauderdale oceanfront condos. Prices start over $2 million for most of the Florida new and pre-construction condos.
US Home Prices Up 4.5% in 2024
US home prices increased 4.5% in 2024, with every state except Mississippi going up. Connecticut, New Jersey and Wyoming had the largest increase in prices – all three at 8.3%.
Good & Bad Property Tax States
Some states have very expensive real estate but low property taxes, such as Hawaii, where the median home price is over $800,000, but the lowest property tax rates in the United States. Or Illinois and Texas with affordable homes but high property tax rates.
The Heat Is On & Its Expensive
The most expensive US city to heat a home is Cleveland, Ohio, where the average low temperature in February is 24 degrees. Cleveland also gets about 15 inches of snow each year in February.
Most Home Builders Offering Incentives or Lower Prices
With stubbornly high mortgage rates, more competition and fewer buyers, most home builders are offering incentives and/or lower prices to sell their homes. According to the National Association of Homebuilders, “The share of homebuilders that offer sales incentives has ranged between 60% and 64% since June, while between 30% and 33% have lowered prices.”
Best State Capitals For Living
According to WalletHub.com, the best state capital to live in is Austin, Texas, followed by Madison, Wisconsin and Raleigh, North Carolina. The financial website compared data such as the towns’ economies, quality of life, education and health care.
UK’s Ellen Lists Montecito Home
Ellen DeGeneres has long been the queen of celebrity home flippers. Ellen and wife, Portia de Rossi, recently moved to the United Kingdom and have been liquidating their expensive homes collection. According to Realtor.com, they have listed one of their remaining homes, a two-bedroom home in Montecito, California, for $5 million.
For more interesting real estate news, visit TopTenRealEstateDeals.com.
