Newport Beach Real Estate News
Newport Beach
Luxury Housing Markets in U.S. Poised to Outperform in 2025
According to international property consultancy Knight Frank, the shift to lower interest rates is expected to boost activity, with prime housing markets across the U.S. poised to benefit ahead of the broader housing market recovery.
California Home Sales Hit 7 Month Low in August, Despite Lower Rates
New data from the California Association of Realtors shows that California's statewide home sales hit a seven-month low in August 2024, as buyers paused despite mortgage rates reaching their lowest point since spring 2024.
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.
