Growth Markets Archives - Norada Real Estate Investments

NYC Real Estate Market 2020 Overview

July 2, 2020 by Marco Santarelli 1 Comment

The latest New York Real Estate Market Report is given below. You will also find the details of the current real estate trends for NYC or New York City. Low inventory and increasing buyer activity are keeping the prices stable in the New York housing market. It’s a relatively good time to buy a property in New York as housing inventory is on the rise and competition is less.

Let us first look at the statewide real estate market report for New York. With the phased opening of the economy, buyers have been quicker to return to the housing market. It seems they want to cash in on the opportunity to purchase their favorite properties amid a historically low-interest rate of 3.3 percent on a 30-year fixed-rate mortgage. The median sold price remained flat at $270,000 in May as compared to last year. The month’s supply of inventory dropped by 11.5 percent in May, from 6.1 months to 5.4.

On the other hand, sellers in New York are still holding back on listing new properties on the market. New listings are still on the decline as compared to last year. According to NYSAR, as COVID-19 restrictions continue to soften, the New York real estate activity is expected to continue to improve in the coming weeks.

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San Jose Real Estate Market 2020 Overview

June 30, 2020 by Marco Santarelli Leave a Comment

We will discuss the latest San Jose real estate market trends & news and find out how they can affect the investors and homebuyers in the latter half of 2020. The shutdown due to coronavirus pandemic had an impact on California’s economy and the real estate sector as well. 2020 started with low inventory in San Jose, and a strong seller’s real estate market. The number of home sales in January and February were really strong. Then came the shelter-in-place order due to the COVID-19 pandemic. The impact of the pandemic on the San Jose housing market was felt in April when home sales started dropping massively.

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California Housing Market 2020 Overview

June 27, 2020 by Marco Santarelli Leave a Comment

The coronavirus pandemic has literally gone viral and the California real estate market also got impacted by it. Today, we decided to take a look at the impact of the coronavirus pandemic on the California housing market. We’ll also look at the likely medium and long-term effects of the outbreak. Before the coronavirus outbreak, the declining interest rates bolstered February home sales and price in the California housing market. The no. of home sales in February went up 6.6 percent from the 395,700 level in January, marking the first time in three months that sales jumped above the 400,000 benchmarks. February also marked the eighth consecutive month of year-over-year sales increases, according to the CALIFORNIA ASSOCIATION OF REALTORS^®.

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Las Vegas Real Estate Market 2020 Overview

June 24, 2020 by Marco Santarelli Leave a Comment

The previously-booming Las Vegas real estate market was badly impacted by the ongoing pandemic. Unemployment is at a record 28.2%. The economic uncertainty and massive job losses directly affected its housing market as well. However, it has managed to avoid total collapse. Even though these effects on the Las Vegas housing market are deemed as short-term, it is yet to be predicted as to what the potential long-term impact could be. On the positive side, the national housing market is expected to bounce back faster than anticipated from the damage caused by the COVID-19 pandemic, according to Forbes. They also said that among the Las Vegas housing market is among those cites that are showing the most signs of a positive recovery. With the reopening of its economy, the Las Vegas real estate industry is looking forward to how the business can be conducted in the wake of the new normal.

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Cincinnati Real Estate Market 2020 Overview

June 19, 2020 by Marco Santarelli Leave a Comment

We will discuss the latest Cincinnati real estate market trends & news and find out how they can affect the investors and homebuyers in the latter half of 2020. Low-interest and unemployment rates, the influx of high-paying jobs, and very affordable housing make Greater Cincinnati a great place for people to live and work. 2020 started strong with an increase in home sales in the Greater Cincinnati housing market. In January, the average home price rose to $219,497, a year-over-year increase of 8.79%. The inventory of homes for sale dropped by 23.2 % as more and more millennials and families entered the market to purchase their dream homes.

Due to the impact of Covid-19, the sales in April were down by 20.21% compared to a record April a year ago. The inventory of homes for sale continued its year-over-year declining trend and that shows that there are plenty of buyers in the market ready to scoop up properties and take advantage of low investor turn out.