WCTB Real Estate

1 of every 5 homes for sale in April was new construction.

The number of newly built homes on the market fell just 10.5% year over year in April, the smallest decline in 2020 to date, while the supply of existing homes plunged 24%.

With the supply of existing homes sinking, new properties now make up a bigger piece of the pie. Last month, 1 in 5 homes on the market was a newly built home. That’s up from closer to 1 in 6 last year and represents the largest share since at least 2012.

The inventory of existing homes

What could be better than wrapping up a whole series of your favourite show, surrounded by your favourite people enjoying the best home cinema experience money can buy?

Launched today, Binge is home to around 10,000 hours of ad-free viewing of your favourite new as well as classic content from WarnerMedia, NBCU, FX, BBC and Sony. According to Foxtel, Binge will offer a “distinctly curated mix of the best drama and movies from the world’s best entertainment brands.”

We thought we’d go ahead and find the homes that enjoy the most deluxe, cutting edge home theatre systems around because, luckily,

Just the Facts: Four Key Housing Market Takeaways for This Week

• Home-buying demand is now 16.5% above pre-coronavirus levels on a seasonally-adjusted basis, driven by record-low mortgage rates
• Inventory of homes for sale can’t keep pace with demand. Jerry Diaz, a Redfin agent in Nashville says, “I’m showing a lot of houses, but not selling as many as I could because they’re gone before we can write an offer.” Forty-five percent of the homes under contract in the seven days ended May 15 were on the market less than two weeks
• The migration from expensive metropolitan areas to smaller cities

Spending weeks in lockdown has forced Melbourne to embrace the idea of living local.

And from built-in fast internet supporting workers at home, to in-house ballrooms, the city’s developments are embracing it, too.

Marshall White Projects director Leonard Teplin said high-rise buildings were now often designed as “self-sustaining ecosystems” where staying in was part of the lifestyle.

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Assemble Kensington apartments: Buyers can ‘test drive’ new home

Balwyn

San Francisco homebuyers are now considering farther-flung suburbs in the Bay Area, where they can get more space for less money, as remote work becomes the norm in the age of coronavirus.

The housing market in Oakland and suburban parts of the Bay Area are recovering at a faster rate than San Francisco or San Jose, which may be an early indication of migration patterns as the future of remote work unfolds. Pending home sales and the number of new listings have begun to pick up throughout the Bay Area in early May after a drastic drop in April,