While sales of million-dollar homes surged to new highs during the pandemic, the median...
This 4,511-square-foot modern style home by Newmark Homes in the Bridgeland community in Cypress is on the market for just under $1 million. The house offers five bedrooms and five and a half baths.Even million-dollar home buyers, who are no longer a rarity in many cities as prices zoomed during the pandemic, are feeling the pinch of “shrinkflation.”
“Buyers with seven-figure budgets shopping for homes during the pandemic were doing so coming off the longest period of economic growth in U.S. history and with the help of historically low interest rates,” said Anushna Prakash, economic data analyst at Zillow. “Sales for expensive homes soared while buyers in the heat of competition accepted smaller layouts.”
The median size of a million-dollar home in Houston is 3,831 square feet, costing $261 per square foot, compared to 2,624-square-feet nationally and a cost of $381 per square foot. “It’s not unusual to have a 4,000-square-foot house pushing $1 million now,” Newton said. “The price per square foot has jumped over $200 easily, especially in a lot of nicer new construction neighborhoods.”
Houston followed the trend. Sales of homes for $1 million or more accounted for 3.7 percent the sales in the second quarter, up from just 1.8 percent of the market in the second quarter of 2019.
Argentina Últimas Noticias, Argentina Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Jennifer Lawrence Finally Opens Up About Her Kid — Including His Name'The morning after I gave birth, I felt like my whole life had started over. Like, now is day one of my life.'
Leer más »
Should you make a long term real estate commitment in these times?Most would agree we are in a changing market with respect to industrial real estate.
Leer más »
Real estate update: 20 charts that show where home sales are headed in TucsonFind out how home sales have changed recently, which areas have the most home listings, plus the average sale price and more with these charts and maps.
Leer más »
Simple Bread Pudding With Melted Ice Cream SauceThis easy bread pudding gets an even easier sauce.
Leer más »
The war for your teethInvisalign owner Align Technology and SmileDirectClub — as well as a slew of smaller companies — are increasingly sidelining orthodontists and taking market share away from wire-and-bracket braces.
Leer más »