Newport Beach Real Estate News
Newport Beach
Orange County, Chicago, Phoenix, and Washington DC Become Trillion Dollar U.S. Housing Markets
Redfin reports that the total value of housing has now surpassed $1 trillion in eight U.S. markets. Orange County, Chicago, Phoenix, and Washington D.C. have recently joined Los Angeles, New York, Atlanta, and Boston in this exclusive group. This expansion highlights the significant surge in home prices over the past year.
California Home Sales Dip 3 Percent Annually in June
California home sales remained stagnant for the second consecutive month in June 2024, as the 30-year fixed rate mortgage remained above 7 percent throughout most of May, when most of these sales opened escrow.
Only 17 Percent of Current Residents Can Afford to Buy a California Home in 2024
The California Association of Realtors is reporting that only seventeen percent of the state's homebuyers could afford to purchase a median-priced, existing single-family home in California in the first-quarter 2024.
Fast Growing AI Tech Companies Help Drive U.S. Office Leasing Activity in 2023
According to CBRE's newly released annual Tech-30 report, the tech industry reclaimed the highest share of U.S. office leasing in Q3 2023 after relinquishing the top spot in Q1 2022. Total tech leasing recovered from low levels earlier this year but remains well below pre-pandemic era leasing.
