June 10 (Bloomberg) — John Burns, Chief Executive Officer at John Burns Real Estate Consulting, discusses the influence of foreign buyers on California’s high-end real estate market and the distortion of the haves and have-nots in U.S. housing:
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Steve Kerr on today's tragic shooting in Uvalde, Texas.
Average price of a new home in the US...
2021: 435k (+21% YoY)
2022: 570k (+31% YoY)
This applies to the resale market too.
Why are new home sales falling when median prices are rising?
Per @calculatedrisk builders shifted from selling cheaper homes (to compete with foreclosures circa 2009-12) towards pricier ones, esp of late
Sales above $500K: 43% in April vs 17% in Q1 2020 https://www.calculatedriskblog.com/2022/05/april-new-home-sales-decline-sharply.html