REI INK

The US has a record-high 550 ‘million-dollar’ cities

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Low inventory is keeping competition high and home values rising The U.S. has a record-high 550 “million-dollar” cities — cities where the typical home is worth $1 million or more — a new Zillow® analysis shows. That is 59 more million-dollar cities than a year ago, reversing losses from when home values were wobbling this time last year. A tight housing market with few homes available has kept home values rising, even while affordability challenges have

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The Typical Homebuyer’s Down Payment Is $56,000, Up 24% From a Year Ago

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Redfin reports over one-third of home purchases in February were made in all cash—not far from the record high The median down payment for U.S. homebuyers was $55,640 in February, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. That’s up 24.1% from $44,850 a year earlier—the largest annual increase in percentage terms since April 2022. The typical homebuyer’s down payment last month was equal to 15% of

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HOME AFFORDABILITY IMPROVES SLIGHTLY DURING FIRST QUARTER BUT REMAINS DIFFICULT FOR AVERAGE WORKERS

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Major Home-Ownership Expenses Require Smaller Portion of Wages for Second-Straight Quarter; Historical Affordability Also Inches Upward; But Both Measures Remain Near Worst Levels in 15 Years as Home Prices Stay Close to All-Time Highs ATTOM, a leading curator of land, property, and real estate data, released its first-quarter 2024 U.S. Home Affordability Report showing that median-priced single-family homes and condos remain less affordable in the first quarter of 2024 compared to historical

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“Georgia Squatter Reform Act”

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NRHC is pleased to report that two bills targeting the issue of illegal occupation have passed both the House and Senate in the Georgia legislature. Both bills, developed with input and guidance from NRHC, now head to the Governor for his expected signature. While there is opportunity for the bills to be further refined and strengthened in future sessions, both will likely provide some degree of protection and remedy in

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MCS OPENS SELF-PERFORMING SERVICE CENTER IN MEMPHIS

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Appoints Chad Henry as Regional Operations Director MCS, the national property services company founded in 1986, announced the opening of its latest self-performing Service Center in Memphis, TN, serving Tennessee and the surrounding areas. This announcement represents the latest addition to the company’s growing network of self-performing capabilities supporting all facets of the default mortgage, property preservation, commercial and residential rental segments. MCS now has “boots-on-the-ground” representation in 25 markets

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Marcus & Millichap Publishes Institutional Multifamily Market Intelligence Report

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Marcus & Millichap (NYSE:MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced it has released its Markets with Momentum report. The report cites key national multifamily performance statistics from February on rent growth, lease renewals, and vacancy. Five select markets with significant momentum are highlighted. “While markets that registered the most performance momentum early this year are mostly in areas where

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