Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. All-cash home purchases climbed to 39.1% of all transactions, marking the highest level since 2013, according to a recent report from real estate data firm ATTOM. The surge signals a shift in the U.S. real estate market as investors and wealthy individuals look to bypass mortgage rates that have remained above 6%, giving them a competitive edge over buyers who must seek traditional financing, according to ...

Core Insights - U.S. existing home sales increased by 5.1% in December, reaching a seasonally-adjusted annual rate of 4.35 million units, surpassing economists' expectations of 4.21 million units [1][2] - Year-over-year home sales rose by 1.4%, indicating a slight improvement in the housing market [1] Group 1: Market Conditions - Lower mortgage rates and slow growth in house prices contributed to the acceleration in home sales [1][2] - Inventory levels of existing homes increased by 3.5% year-over-year to 1.18 million units in December, with a current sales pace indicating it would take 3.3 months to exhaust this inventory, up from 3.2 months a year ago [3] Group 2: Price Trends - The median existing home price rose by 0.4% year-over-year to $405,400, reflecting a modest increase in home values [4] - Proposed measures by President Trump to ban institutional investors from purchasing single-family homes aim to enhance affordability in the housing market [4]

Core Insights - Fox News host Sean Hannity is listing his Florida estate for $44.9 million, having purchased it for $23.5 million a year prior, and is including furniture in the sale [1] - The property is located in Manalapan, a highly exclusive market that is considered even more private than Palm Beach, attracting a wealthy buyer pool [2] - The mansion spans 13,000 square feet on 1.86 acres, featuring private frontage on both the Atlantic Ocean and the Intracoastal Waterway, with seven bedrooms and nine bathrooms [3] - Manalapan is recognized as a stronghold for generational wealth, offering larger acreage and privacy that appeals to high-profile buyers [4] - Hannity's move to sell the estate may be related to his ongoing mega-mansion project in Palm Beach, where he received approval to combine two townhomes into a single residence [5][6]

Group 1 - US consumer sentiment rose in December, but the increase was less than expected [1] - US existing-home sales saw a slight increase in November, with contract closings up 0.5% to an annual rate of 4.13 million [1]

Core Insights - Manhattan luxury home sales increased in November despite concerns over the potential impact of the new mayor-elect's policies on wealthy residents [1][5] - The number of signed contracts for luxury homes priced at $4 million or more rose to 176 in November, up from 141 in October [2] - The luxury home market is on track for its second-highest sales year since 2006, with over 1,300 contracts signed so far this year [6] Market Performance - There were 116 luxury home sales in Manhattan in November 2024, indicating a robust market despite political concerns [2] - More than half of the contracts signed between November 3-9 were completed after the mayoral election, suggesting resilience in the market [3] - The luxury home market in New York City increased at more than double the rate of the overall market last month [7] Demographics - Approximately 34,700 residents in New York City reported an income of $1 million or more in tax year 2023, a slight increase from the previous year [4] - The number of millionaires in the city has seen fluctuations, with a peak of 35,881 in 2021 [4]

Core Insights - A Nashville homebuyer faced unexpected property tax liabilities after purchasing a 0.18-acre property for $320,000, as the county assessed taxes on a larger 0.35-acre parcel that included two homes [1][2][3] Property Transaction Details - The seller had previously combined the lot with a neighboring home and then split it again before selling the smaller portion to the buyer, leading to confusion regarding tax liabilities [2][3] - The city assesses property taxes based on the configuration as of January 1, which resulted in the buyer being responsible for taxes on both homes despite only owning one [2][3] Title Company Accountability - Commenters on social media suggested that the closing title company should have accurately prorated the taxes and flagged the property's history [4] - There is a consensus that the closing documents should have included proper language regarding prorated taxes, which typically holds the seller accountable for the time they owned the property [7] Financial Implications - The buyer received a $1,200 credit at closing for 2025 taxes, but estimates that the seller should have credited closer to $2,388 based on the total tax bill of $2,985 [6] - The seller, being an investment company, was exempt from certain disclosure rules, complicating the buyer's situation [7]

Core Insights - Hong Kong property deals reached a three-month high in October, following monetary policy loosening by the US Federal Reserve and the Hong Kong Monetary Authority [1] Sales Performance - Sales of new and second-hand homes, along with office units, shops, industrial properties, and parking spaces, increased by 4.7% to 7,190 units in October, up from 6,870 units in September, marking the highest total since July [2] - The total value of property sales rose by 8.3% to approximately HK$57.9 billion (US$7.45 billion) [4] - Residential sales hit a three-month high of 5,714 units, the highest since July's 5,766 deals, with total home sales value reaching HK$51.07 billion, the highest since HK$61.06 billion in June [4] Market Trends - Property sales have consistently exceeded 5,000 units for eight consecutive months, indicating a potential market recovery since the downturn in late 2021 [3][6] - Secondary home prices rose by 1.3% in September, marking the largest gains this year and reaching the highest level in over a year [7] - The increase in secondary home prices represents the sixth consecutive month of either increases or stability in the official index [8] Future Outlook - The first round of new residential project offerings in October sold out quickly, leading to expectations of a 5% increase in November property transactions, potentially exceeding 7,500 deals, which would set a new 12-month high [5] - The recent quarter-point rate cut by the Fed and HKMA has led to reduced prime lending rates by major banks, lowering funding costs for businesses and mortgage borrowers, contributing to a more favorable market environment [9]

Core Insights - The Florida real estate market is experiencing a decline in Canadian investment as homeowners sell properties due to trade tensions, tariff fears, and a weakened Canadian dollar [1][2][6] Group 1: Canadian Sellers' Motivations - Increased costs of holding Florida real estate are prompting Canadian homeowners to sell [3][8] - Trade tensions and volatility in exchange rates between the U.S. and Canadian dollar are significant factors influencing their decisions [6][8] - A perception of not feeling welcome in the U.S. is also affecting Canadian sellers [3][5] Group 2: Market Dynamics - Canadian buyers historically represent about 13% of foreign buyers in the U.S. real estate market, but recent months have seen a decline in their interest [2][11] - The influx of Canadian sellers could lead to increased inventory in South Florida, which may satisfy demand from domestic buyers [11][12] - Despite concerns about oversaturation, there is still room for growth in the market, with ongoing demand anticipated [11][12] Group 3: Strategic Asset Management - High-net-worth Canadian clients are consulting various advisors to strategically reposition their assets, considering both personal and financial impacts [10] - The Florida governor's efforts in infrastructure development are seen as beneficial for accommodating new buyers [12]

Core Points - Terreno Realty Corporation has sold a property located in South Brunswick, New Jersey for a total of $144.2 million [1] Company Summary - The sale of the property is part of Terreno Realty Corporation's strategy to optimize its portfolio and enhance shareholder value [1] - The transaction reflects the company's ongoing efforts to capitalize on favorable market conditions in the real estate sector [1] Industry Summary - The real estate market continues to show strong demand, particularly in logistics and industrial properties, which are key areas of focus for companies like Terreno Realty Corporation [1] - The sale price of $144.2 million indicates robust valuation trends in the commercial real estate market, particularly in regions with high demand [1]

Core Insights - The Parker estate in Texas, despite its luxurious amenities, has faced challenges in attracting buyers and has been listed on and off the market over the years [1] Group 1 - The estate features luxurious amenities, indicating a high-end market positioning [1] - The property has struggled to secure a buyer, highlighting potential issues in market demand or pricing strategy [1] - The listing history suggests volatility in the real estate market for high-value properties in Texas [1]