Polsinelli hires Amber Munday for real estate practice - Chicago Business Journal - Chicago Business Journal
Real estate experts believe recent stock market volatility isn’t concerning as long as it’s temporary, despite a rocky start to the week for trading, as well as global events worrying investors.
According to Ruben Gonzalez, chief economist for Keller Williams, recent declines in the market are mainly due to fears on Wall Street that the Chinese property market could disrupt global financial markets. Those concerns prompted a stock market selloff that dealt a sizable blow to major U.S. stock indexes.
A new report from Berkshire Hathaway HomeServices is shedding some light on what the post-pandemic luxury real estate market might look like as the travel restrictions and financial upheavals of the pandemic begin to settle and wealthy homebuyers begin assessing their preferences and needs in a changing world.
New-home sales increased for the second consecutive month, up 1.5% to a pace of 740,000. Year-over-year, sales are down for the third month in a row.
New-Home Sales: 740,000
For-Sale Inventory: 378,000
Months’ Supply: 6.1 months
Median Price: $390,900
What the industry is saying:
The Mortgage Bankers Association’s (MBA) Research Institute for Housing America (RIHA) recently released a report—”The Impact of Climate Change on Housing and Housing Finance“—which shows that climate change will be adding stress to “the complex system of allocating risks across housing and