housing market

August 2018 survey: is the real estate market cooling down for buyers?

As we prepare to close out another Summer and head into Fall, the talk across the real estate market last month has been centered on the ‘cooling’ housing market. With little changes in sky-high housing prices and mortgage interest rates continuing to increase through 2018, many economists believe homebuyers are finally balking at buying a home in the current conditions. The latest numbers from July found that home sales declined for the fourth straight month — the longest dip since 2013.

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Buying a house this Fall? Here's 3 things to know.

Has the heat of Summer and the homebuying market got you thinking about waiting until Fall to buy a house? Before you jump into the real estate market, you need to know what to expect. Luckily, we have your back on that one. A snapshot of the homebuying market going into Fall 2018 What are some seasonal trends about buying in Fall that buyers should anticipate? What are mortgage rates like right now? Are home prices trending upward or downward

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Buying a home this Summer? Here's what you need to know.

Time to rejoice: Summer's almost here. 'Tis the season to embrace long weekends, swap that rosé for frosé, and take in the ever present aroma of outdoor grilling. For those whose summer plans include looking for a new home, the good news is that with the right expectations, you’ll find that that Summer is an excellent to purchase. Intrigued? Well, keep on reading. Real estate is cyclical in nature The real estate market tends to hibernate during the colder

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Are tech workers from the Bay Area finding housing relief in Seattle?

In the first quarter of 2018, the Bay Area housing crisis reached an even more extreme level. Our Open Listings study in February found that home affordability was even becoming a problem for six-figure salaried technology workers across Silicon Valley. Today, $2 million homes for sale in the Bay Area look like this, and if tech workers decide to rent, they're forking over $4,500 a month. So, where are these workers headed? According to recent data crunched by LinkedIn,

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The influx of homebuying tech workers from Silicon Valley to Austin won't be slowing down

In February, the Open Listings team did some research into how home affordability was even becoming a problem for six-figure salaried tech workers across Silicon Valley. We used the lending industry's standard "28% rule" as a barometer for evaluating if tech workers in Silicon Valley and Los Angeles would be approved for a mortgage -- let alone really be able to afford home ownership within a 20 minute commute from their offices on their salaries only. Our findings

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Navigating a buyer's vs. seller's market: what's the difference?

Let’s be honest: the real estate industry has its own set of lingo. For a lot of us, especially first-time buyers, it can be difficult to determine what all these terms mean and then how to act accordingly. Luckily, though, we’re here to do the decoding so that you don’t have to. Today, we’re tackling the terms “buyer’s market” and “seller’s market” and helping you understand the differences, how it affects your chances of

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4 signs your neighborhood is heating up

If you're looking to make an investment that pays off big time, buying in a neighborhood that's heating up is one way to get more than your money’s worth. In an up-and-coming neighborhood, property values can skyrocket in a relatively short period of time, leaving you to enjoy the added equity. That said, though, there's an art to identifying these neighborhoods before they become the next hotspot and you're caught having to pay a premium. If you looking to

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US "hispennials" bullish on homebuying despite reservations with Trump administration

In December of last year, the Open Listings team took a detailed look at where millennials in the United States currently stand with their homebuying plans. And, contrary to many headlines, we found that millennials are actually already buying homes. In fact, 44% of millennials -- largely based outside of major urban areas -- noted that they already own a home. Over the next couple of years, industry leaders expect one subset of millennials to drive the homeownership rate up

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Tech workers: they're just like us — can't find affordable housing

Housing price increases now outpace the high salaries of tech engineers in San Francisco and even more-so in Los Angeles Four years ago, we hit a tipping point when for the first time since the 1920’s, population growth in cities outpaced growth outside of cities. While the tech industry has been a boom for the national economy and jobs since its recovery from the dotcom bubble, it has also been a driver of today’s urban housing crisis. More

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Starting your house hunt early this year? So is everyone else.

The real estate industry is super seasonal. Traditionally, agents talk about "spring markets" as the most popular time to both list and buy homes. While that trend has been true for decades, in 2018, market research data--including our own findings--shows that buyers are getting a jump start on their house hunt, meaning the spring market may already be here. We’ve taken a close look at some of the reasons behind the shift and what it could mean

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Local spotlight: San Diego homebuyer trends

As prospective homebuyers across San Diego, one of Open Listings' biggest markets, step up their home search in 2018, we wanted to take a look at trends around homes for sale in San Diego so we could help prospects know what they should expect to encounter in this year's house hunt. To do so, we analyzed data on the Open Listings platform from more than 17,000 home sales across the greater San Diego area and its surrounding communities over

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Local spotlight: Los Angeles 2017 homebuyer trends

As everyone prepares to say goodbye to 2017, we wanted to take a closer look at what the year was like in Los Angeles home buying. To do so, we analyzed data on the Open Listings platform from more than 8,872 home sales across urban Los Angeles over the last year. How did home sales play out for buyers throughout the year? After ringing in the last new year with 601 home sales in January 2017, sales slowly increased

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Is now a good time to buy a house?

TL;DR If you find a house you love -— and can comfortably afford —- then it's always a great time to buy. With record-low interest rates and skyrocketing rental costs, conditions are certainly ripe for buying a home. No one can predict the future, or what will happen to housing values, so how can you tell if now is the right time to buy a home? The simple answer is: If you find a house you love—and can

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