Pittsburgh
Real Estate News

Residential Construction in U.S. Sees Broad Declines in April

Residential Construction in U.S. Sees Broad Declines in April

In a sign of the growing economic toll from the coronavirus pandemic, total housing starts decreased 30.2 percent in April 2020 to a seasonally adjusted annual rate of 891,000 units. Read More »


U.S. Mortgage Loans in Forbearance Increase to 8.16 Percent in May

U.S. Mortgage Loans in Forbearance Increase to 8.16 Percent in May

The total number of loans now in forbearance increased from 7.91% of servicers' portfolio volume in the prior week to 8.16% as of May 10, 2020. 4.1 million homeowners are now in forbearance plans. Read More »

Homes in Many U.S. Opportunity Zones Enjoy Healthy Price Increases

Homes in Many U.S. Opportunity Zones Enjoy Healthy Price Increases

45 percent of the zones saw median home prices rise by more than the national increase of 11.3 percent from the first quarter of 2019 to the first quarter of 2020. Read More »

NAIOP's Commercial Real Estate Industry Sentiment Index Dips to Record Low

NAIOP's Commercial Real Estate Industry Sentiment Index Dips to Record Low

NAIOP reports this week that it's NAIOP CRE Sentiment Index has dropped below 50 for the first time since its inception. Read More »


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Global Property Spotlight

Golfito Marina Village & Resort - (Costa Rica)

Golfito Marina Village & Resort - (Costa Rica)

Costa Rica's Newest Luxury Superyacht Destination Now Under Construction Read More »

Last Updated May 20, 2020 8:06 AM ET

Pittsburgh Property News

Surging job losses in March stemming from the COVID-19 pandemic contributed to a decline in U.S. median income and housing affordability in the first quarter of 2020.

New listings and home sales are seeing early signs of recovery in the U.S. housing market, even as some cities struggle to flatten the coronavirus curve.

Property broker Redfin is reporting between mid-March and mid-April 2020, the new supply of homes for sale over $1 million fell 29 points from the year prior.

A national rent increase of 3.3% year over year in February (just before the COVID-19 outbreak in the US ramped up), up slightly from a 3% year-over-year increase in February 2019.

According to a new report by CBRE, the COVID-19 pandemic is creating massive disruption in the food industry, which will result in increased demand for industrial cold storage space in the U.S.

Liquidity to mortgage servicers needing additional capacity to support homeowners and renters impacted by COVID-19.

The average annual gross rental yield (annualized gross rent income divided by median purchase price of single-family homes) among the 389 counties is 8.4 percent for 2020

U.S. builder confidence in the market for new multifamily housing remained unchanged in the fourth quarter of 2019.

According to the Mortgage Bankers Association's newly released Mortgage Credit Availability Index (MCAI), U.S. mortgage credit availability decreased in December 2019. The MCAI fell by 3.5 percent to 182.2 in December.

According to a new report from Redfin, ten percent of offers written by Redfin agents nationwide on behalf of their homebuying customers faced a bidding war in November 2019, down from 29% a year earlier and hovering at the 10-year low for the 5th consecutive month.

According to new rankings from Redfin, Minneapolis, Portland and Chicago are the most bikeable cities in the U.S. for the second year in a row. The ranking is based on data from Bike Score, a tool by Redfin company Walk Score that rates the bikeability of neighborhoods, cities and addresses.

According to CoreLogic's latest Home Price Index for October 2019, U.S. home prices rose both year over year and month over month. Home prices increased nationally by 3.5% from October 2018. On a month-over-month basis, prices increased by 0.5% in October 2019.

According to a new report from Redfin, the typical American homeowner has spent 13 years in their home, up from eight years in 2010.

According to the National Association of Realtors, existing-home sales receded in September 2019 following two consecutive months of increases. Each of the four major regions witnessed sales drop off last month, with the Midwest absorbing the brunt of those declines.

According to the National Association of Realtors' newly released 2019 U.S. Vacation Home Counties Report, increased financial wealth and low mortgage rates boosted the demand for and price of vacation homes.

U.S. homeowners who decide to undergo a home improvement project, whether it be interior or exterior modifications, often find that the task was worth the investment and time.

U.S. mortgage applications for new home purchases increased 20.1 percent compared from a year ago. Compared to April 2019, applications increased by 0.1 percent.

According to the U.S. Department of Housing and Urban Development and the U.S. Census Bureau, sales of newly built, single-family homes fell 6.7 percent to a seasonally adjusted annual rate of 673,000 units in April 2019 after a sharp upwardly revised March 2019 report.


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