Real estate news covering housing prices, mortgage rates, commercial real estate, REITs, and property market trends.
The US national median listing price dropped 2.4% year-over-year to $429,500 in May, the largest decline since Realtor.com began tracking in 2017. Pending home sales rose 4.3% annually for a sixth straight monthly gain, while fresh inventory hit its highest May level since 2022.
The latest housing data indicates relief for homebuyers, according to TheStreet. This comes amid recent headlines about rising rates, tight inventory, and worsening affordability.
Scott Galloway argues that homeownership should be evaluated based on financial metrics like the price-to-rent ratio rather than emotional attachment. He suggests that a ratio under 15 favors buying, while over 20 favors renting, and advises against feeling ashamed to rent if it makes more financial sense.
Wirtz and Reinsdorf families broke ground on the $7 billion 1901 Project, a mixed-use development on Chicago's Near West Side. Phase one includes a 6,000-seat music hall, hotel, and retail. The project will create 2,400 construction jobs and thousands of permanent jobs.
U.S. investor home purchases fell 6% year-over-year in Q1 2026 to 45,397, the lowest since 2020. Condo purchases dropped 8% to the lowest Q1 level since 2015. Investors are pulling back due to higher costs and a cooling rental market.
This commentary argues that Miami-Dade County taxpayers may be forced to pay $400 million for a Fisher Island property, allowing a developer to profit $220 million without development. It contends that the county's emergency purchase to preserve a fuel depot for the cruise industry prioritizes corporate interests over public fiscal responsibility.
This commentary argues that any property price drop following Labor's budget reforms reflects decades of policy failure, not the reforms themselves. It contends the changes are reintroducing responsible decision-making by curbing tax-enhanced speculation, and that the market is cooling as investors shift focus to financial metrics.