The ‘Feeding Frenzy’ for Texas Homes Is Over—For Now
Before the state becomes a migration hotspot again, cash buyers have the upper hand in the slowing market. Read More
BY THE NUMBERS
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TRENDING TODAY
LISTING OF THE DAY
A 21st-Floor Glass Condo Feels Like It’s in the Middle of Boston Common
Amenities at the Parker include a rooftop deck, a fitness center and an underground speakeasy-style bar and lounge, theater and billiards room. Read More
NEIGHBORHOOD NOTES
Novak Djokovic to Simon Cowell—Sierra Blanca Is the Tranquil Enclave Attracting Stars to Marbella, Spain
The gated community has 24-hour security, a choice of spacious villas, stylish townhouses or upscale apartments and sweeping sea and mountain views. Read More
NEWS BITES
U.K. Home Values Lost Thousands of Pounds in the Past Year
Home prices in the U.K. are falling at their fastest pace in more than a decade, while mortgage rates continue to tick up, according to bank and mortgage provider Halifax. Property prices fell 2.6% annually in June, meaning homeowners saw £7,500 (US$9,618) wiped from their property value—the biggest drop since 2011. A typical home in the U.K. now costs £285,932. “How deep or persistent the downturn in house prices will be remains hard to predict,” said Kim Kinnaird, Halifax’s director of mortgages. BBC
Rents Have More Room to Grow in Hong Kong
Despite volatility in the wider housing market, rental costs in Hong Kong are expected to continue their rise into the second half of the year, according to real estate firm Cushman and Wakefield. Having risen by 4% over the last four months, “the rental index could increase by around 5% to 8% this year,” said Rosanna Tang, executive director and head of research at the firm. Prices have been growing since the border with mainland China was reopened in February, and are being underpinned by a pledge made by the Hong Kong government to attract more talent to the city with its Top Talent Pass Scheme, Tang said. South China Morning Post
Imagine Dragons Bassist Finds a Buyer for Las Vegas Home
Ben McKee, bass player in the band Imagine Dragons, has found a buyer for his Las Vegas home less than two months after listing it. The place hit the market in May for $995,000 and is currently under contract. The 3,400-square-foot abode, which has three bedrooms and four bathrooms, meshes contemporary design with rock-star amenities. A contemporary kitchen that flows into the living area anchors the home. The property also comes with a home theater and game room. McKee has owned the property since 2018, after snapping it up for $730,000. Realtor.com
Boston Sees Biggest Gains in Housing Inventory
There’s some slightly encouraging news for Boston home buyers. Housing supply in greater Boston jumped the most of any U.S. city in May, with a measure of inventory rising 219% from the year before, according to the latest Re/Max National Housing Report. The report also found May home sales in the city were up 34.4% over April, although they were still down 23.2% from a year ago. Nick Bailey, Re/Max president and CEO, said that while May’s sizable jump in home sales signals the start of peak selling season, the lack of inventory still remains the biggest challenge for home buyers. Boston Agent Magazine
AROUND NEWS CORP
How to Turn Your Outdoor Dining Area Into a Magical, Peaceful Spot [The Wall Street Journal]
How a 1930s Ex-Council House Became a Joyful Family Home [The Times of London]
Inside Michael Rubin’s $50 Million Hamptons Estate, Site of Celeb July 4 Party [New York Post]
How to Negotiate Repairs After a Home Inspection: Haggling Tips for Buyers [Realtor.com]
