Discover America’s Top 10 Real Estate News this Season
U.S. Home Sales Fall To Near-Record Levels
U.S. home sales fell to near-record levels in May. Sales came in at 408,000 in May, which was the lowest monthly total other than May 2020 in the early days of the pandemic and in October 2023, when mortgage rates shot up to their highest rates since the early 2000s. Despite the low number of homes sold, prices reached record levels of almost $440,000.
America’s New Tallest Skyscraper
Move over New York and Chicago, a new city has plans to build the country’s tallest skyscraper. Plans have been launched in Oklahoma City for a 1,907-foot skyscraper that would be taller than New York’s World Trade Center and Chicago’s Willis Tower. If actually built, the $1.2 billion project would include two apartment buildings, some low-income housing, a hotel and condos. Construction is scheduled to start in late 2024.
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California Median Home Prices Hit $900,000
For the first time, median home prices have hit $900,000 in California. According to the California Association of Realtors, the median sale price of a home in California soared to $904,210 in April – up 11.4% from April 2023.
Amenities Today’s Home Buyers Want
It seems that home buyers no longer want granite countertops and wall-to-wall carpeting. According to a recent survey, today’s buyers are looking for open floor plans, double vanities and quartz countertops.
Some Good Real Estate News For Justin Timberlake
Justin Timberlake finally got some good news with the sale of his 127-acre horse farm for a staggering $8 million. Located near Nashville in Franklin, Tennessee, the property was originally purchased by Timberlake and his wife, actress Jessica Biel, in 2015 for $4 million.
Florida’s Next Beach Boom Town
Even though it has one of the country’s best beaches and is located next door to Fort Lauderdale, even the spring break kids stayed away. Now Pompano Beach condos are the hotbed of new South Florida construction, with a dozen new projects, including both Ritz Carlton and Waldorf Astoria residences, under construction or in the pipeline.
It’s Official – J. Lo & Ben Are Selling
After weeks of marital-issue and house-selling rumors, Jennifer Lopez and Ben Affleck have listed their LA mansion, just one year after buying the 12-bedroom home. The almost-newlyweds spent two years searching for the perfect family home, looking at numerous properties before they decided on the home they are now hoping to sell for $68 million.
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U.S. Home Inventory Coming Back
After years of home-listing declines, the U.S. market is finally starting to turn around. May was the seventh consecutive month of homes-for-sale increases, and there are currently 35% more homes on the market than in 2023.
Free Pennsylvania Summer Home – 17 Rooms
The historic Hood Mansion in Limerick, Pennsylvania was built in 1834 by John McClellan Hood, an Irish immigrant, as a summer home for his large family. Known as “Bessie Belle,” the 17-room mansion is free to anyone who can move it. The Eastern Pennsylvania Preservation Society hopes to find someone soon, before the home is torn down to make way for a warehouse.
America’s Dirtiest Towns
According to a recent analysis, America’s dirtiest cities are San Bernardino, CA; Detroit: and Reading, PA. The findings are not based on litter but are based on factors such as air quality and drinking water. The cleanest towns are Lynchburg, VA; Duluth, MN; and Redwood, CA.
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