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Pending Home Sales Approach 2019 Levels, Powered by Record-Low Mortgage Rates

Key Takeaways

  • Pending sales the week ending June 21 have nearly returned to 2019 levels (down just 3% year-over-year). Completed home sales are still down 12% compared to the same week last year, but we expect them to catch up in late July or early August as this new batch of pending sales close.
  • The majority of offers are facing competition (52%) as home-buying demand continues to outpace new listings. The inventory of homes for sale was down 26% from the same week a year ago.
  • Mortgage purchase applications were up 17% from a year ago as mortgage interest rates
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Coronavirus real estate: Geelong home values drop in June

Auction activity has picked up since restrictions on live auctions lifted in late May.


GEELONG home values dropped in June as the coronavirus pandemic hit the region’s property market.

Dwelling values fell by 0.7 per cent last month, ending almost a year of consecutive price growth, the latest CoreLogic Home Values Index shows.

But the region has been spared the sharper drop recorded in Melbourne, the hardest hit of the capital cities, where home values fell 1.1 per cent.

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Minneapolis Has the Lowest Black Homeownership Rate of Major Metros in the US

Only half of Black families own their home in Washington, DC, which has the highest Black homeownership rate in the U.S., versus more than 70% of white families. Nationwide, the gap is 44% versus 73.7%.

Just 44% of Black families own the home they live in as of the first quarter of 2020, up from 41.1% in the first quarter of 2019, an increase that may reverse as the coronavirus pandemic upends one of the “most promising economies in recent memory” for Black Americans. For white families, the national homeownership rate is 73.7%, up slightly from 73.2% in

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Coronavirus: Auctions and open for inspections scrapped as restrictions return to hotspots

Public auctions and open for inspections have been banned once again in Melbourne’s coronavirus hotspots.

In a blow to the property industry, public sales will be canned in the affected areas from Thursday as stage three government restrictions are reinstated until at least July 29.

Real Estate Institute of Victoria president Leah Calnan said the peak industry body was still waiting to confirm with the Premier’s office the finer details of how real estate would be affected.

But stage three restrictions meant vendors in the 10 affected postcodes would have to revert auctions online or change to a private sale,

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Celebrity chef Geoff Jansz sells slice of Southern Highlands estate

Former TV chef Geoff Jansz has sold land in Burradoo. Picture: Grant Jones


Celebrity chef Geoff Jansz and wife Angella have pocketed $1 million after selling off a slice of their Southern Highlands estate.

The couple, who bought an impressive 4.6ha holding of land in Burradoo in 1994 for $670,000, sold the acre of land to ChristopherandChloe Ahern, in a sale that has links to Jansz’s former days as a television chef. Christopher Ahern is Kerri-Anne Kennerley’s nephew.

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In the mid-1990s Jansz and Kennerley

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