Housing news 5.8.2017
This week in housing news you can use, discover 10 cities made the most dramatic real estate comebacks, towns with the healthiest housing markets, and designer Kate Spade decks the halls.
Top 10 Real Estate Comeback Cities
After the 2007 real estate crash, and its corresponding rock-bottom year of 2011, many cities recovered back to their pre-crash days. Some still struggle. But a few standouts had incredible comebacks that propelled values to well past the 2007 marker. The data gurus at Realtor.com compared 150 U.S. metropolitan areas.
Their study “factored in their highest, pre-recession home-price heights, their lowest lows of the crash—and which ones rebounded best through 2016. We measured the recovery by measuring home prices, the amount of new home construction, foreclosure and unemployment rates and the household income of local residents in 2016.”
|Rank||City||Growth since 2011||Median home price 2016|
|1||San Jose, CA||57%||$835,000|
|2||San Francisco, CA||53%||$754,500|
|4||Grand Rapids, OR||30%||$162,500|
|6||Colorado Springs, CO||26%||$250,000|
|7||North Port, FL||51%||$238,700|
How U.S. vs World home prices react to rising rates
Frontera Research compared 7 major cities around the world in developed countries to show how home prices were affected by rising rates. Three U.S. cities – New York, Los Angeles, and San Francisco – showed a steadier slow increase so far than Hong Kong, Paris, Singapore and London. But if U.S. rates continue to rise up to the projected 5.5% by 2018, Frontera says expect to see the index fluctuate. The graph is part of a greater study following emerging markets’ response to the U.S. real estate market.
10 Healthiest Housing Markets
SmartAsset compared affordability, stability, risk, ease of sale and affordability to find the healthiest housing markets in America.
|Rank||City||Avg. Years in Home||Avg. Neg. Equity||Home Value Decrease||Avg. Days on Market||Costs as % of Income||Healthiest Markets Index|
|6||Bethel Park, PA||19.3||4.3%||6.7%||57.2||18.7%||96.30|
|7||Forest Hills, MI||15.5||3.4%||8.4%||37.4||17.7%||95.85|
|9||Pearl City, HI||22.4||2.6%||1.8%||60.4||21.7%||94.86|
Kate Spade decks the walls
Fashion designer Kate Spade’s home collection took a vertical leap, with its new witty wall décor collection. In between your serious pieces, sprinkle in a sentiment sure to surprise and amuse. You can choose from “As if!” from Clueless, “Curiouser and Curiouser…” from Alice in Wonderland, and more. The collection also has some retro-style entertainment posters and other tongue-in-cheek pieces. Coach has announced it will buy Kate Spade for $2.4 billion, and it’s uncertain what will be affected, so get these fun items while you can.
Sources: Paper City, USA Today
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