Real-Estate News: A Double Dose of Positive Housing News
Wall Street Journal Staff Writers | Wall Street Journal | June 26, 2013 | link
- Carl Bortolami
- House of the Day: Soap-opera star Josie Bissett moved from the bustle of Los Angeles to raise her family in this home in a placid Seattle suburb.
Here is a look at real-estate news from Wednesday’s WSJ, including the Property Report:
A Double Dose of Positive Housing News: Sales of new homes rose to the highest level in nearly five years in May and a key gauge of existing-home prices surged, indicating substantial strength in the housing sector ahead of recent worries about rising mortgage rates.
Asian Buyers Dig Into U.S. Property: Asian investors are pumping money into U.S. commercial real estate at a record pace, pushing real-estate values higher and helping get stalled projects off the ground.
Condo’s Price Is Straight Up: A penthouse atop a new condominium skyscraper that resembles a pile of haphazardly stacked boxes has gone into contract for $47 million, a record for a condo sale below Midtown Manhattan.
Climbing Rates Seen Stalling Rise in Values: The sharp rise in interest rates in recent weeks has raised the specter in the commercial-real-estate industry that nearly four years of steady gains in property values could come to a halt. Read more…