Day: June 28, 2020

The Most Affordable Homes in the U.S. Are Getting More Expensive

Low mortgage rates have attracted more buyers to the market—especially first-timers—amid a supply shortage that’s showing no signs of letting up. Meanwhile, prices of expensive homes have risen just 2%.

Prices of the most affordable third of homes in the U.S. climbed 5.5% year over year during the 12 weeks ending May 31, while prices of the most expensive third of homes increased just 2%.

This is according to an analysis that divided all U.S. residential properties into five tiers based on Redfin Estimates of the homes’ market values as of early June. This report focuses on the “bottom” or

Read More

Sydney properties sell for up to $6 million as more sellers put homes under the hammer

This Vaucluse house on Derby St sold for $6.025 million at auction.

Homebuyers paid up to $6 million under the hammer in what was a week of mixed results for Sydney property auctions.

Preliminary results showed nearly 67 per cent of auctions produced a sale over the past week based on 332 declared results.

There were a total 614 auctions – an increase from last week and about 100 more than were held over the same week last year, according to CoreLogic. It was also close to double the volume of auctions scheduled in early May.

MORE: Buyer pays $300k

Read More