‘We don’t need another $30M home’: Mauricio Umansky on the LA luxury market

Inman spoke to The Agency founder Mauricio Umansky about what’s happening with luxury real estate in Los Angeles this summer.

Multifamily rents fell year-over-year for first time in a decade

Multifamily rents in the U.S. dropped by $2 in June to $1,457, following a four-month trend of declining rents, according to Yardi Matrix’s June 2020 National Multifamily Report. Since January, average multifamily rents have decreased by $12.

US property foreclosure filings hit all-time low

During the first six months of 2020, there were a total of 165,530 properties with foreclosure filings — an all-time low, down 44 percent the same time one year ago and down 54 percent from the same time two years ago.

Kanye West picks up affordable housing plans again

On Sunday, one day after announcing he would run for president, Kanye West tweeted a photo of his prefabricated, low-income housing design that he rolled out about a year ago, indicating that the project may be back in full-swing.

27% of homebuyers look to relocate to less dense, more affordable areas

A new Redfin report found that pageviews of listings in towns with less than 50,000 residents were up by 87 percent year over year in May.

Growth in US home value slows at greatest monthly rate since 2019

Values grew by 0.41 percent month over month in April, and in May, that metric dropped to 0.35 percent — the biggest one-month slowdown in more than a year.

Multifamily rents continue to decline in May

As many states began the reopening process in May, rents continued to decline from previous months, according to YardiMatrix’s National Multifamily Report for May 2020.

Residential refis make up 55% of home loans in first quarter

Spurred by historically low interest rates, new refinances made up about $328.5 billion in total dollar volume in Q1, up 105 percent from the same period last year.

How the coronavirus pandemic is reshuffling the luxury real estate market

Buyers are looking for homes in different places, and with different characteristics, than they did before COVID-19 brought chaos to the U.S.

Pandemic unlikely to kill demand from foreign luxury buyers

The pandemic’s chaos has upended many parts of the economy, but luxury agents believe international buyers will still gravitate toward the relative safety of the U.S. market.