Although median home prices remain close to record highs in many cities, some of the country’s priciest metro areas are seeing home prices plummet.
As the housing market finally begins to cool, Alice Kantor, writing for Bloomberg, describes the patterns emerging in the nation’s metro areas. According to Kantor, “The 10 fastest-cooling markets are almost entirely in the West, with Seattle, Las Vegas, and the three California cities of San Jose, San Diego and Sacramento leading the way.”
Cities that experienced sharp rises in housing costs during the pandemic, such as Las Vegas, are seeing the fastest drops in prices. “In Seattle, about 34% fewer homes sold during a two-week period in August compared to a year earlier, and the typical home sold at prices 5% higher than last year, compared to a 23% year-on-year price increase just six months prior.”
Many cities remain out of reach for the majority of homebuyers, though. In San Jose, median home prices hover at $1.4 million, while Oakland’s median home price is $910,000.
FULL STORY: Here's Where Real Estate Prices Are Cooling the Fastest in the US
Ultra-Competitive Housing Market Shows No Signs of Slowing
Home prices in the Puget Sound region continue to skyrocket as buyers engage in intense bidding wars and demand continues to outpace supply.
Growing Real Estate 'iBuyer' Companies Raise Concerns
The troubling trend of buying and selling homes as an investment has some critics worried that it will contribute to an already overheated housing market.
White-Hot Real Estate Market Starting to Cool
The housing frenzy brought on by the pandemic is easing up, with slower growth of median home prices and fewer offers.
Inclusive Prosperity: No Displacement Necessary
Recent analysis identifies nearly 200 U.S. neighborhoods that have achieved the highly-sought-after goal of increasing the prosperity of residents without displacing the existing community.
Making Healthy Places
The editors of the book "Making Healthy Places," recently published in a second edition by Island Press, discuss the intersections of public health and planning, including key concepts such as green gentrification, health impact assessments, and AI.
Chicago ADUs Concentrated in More Affluent Neighborhoods
An analysis of city-issued permits shows that homeowners in gentrified wards are building accessory dwelling units at much higher rates than those in less well-off communities.
Is it a Rowhouse, or a Rowhome?
Philadelphia has long been acknowledged as the capital of rowhouses in the United States. It’s becoming more common for those rowhouses to be referred to as rowhomes.
Maps for Proposed San Francisco Bay Tunnel Revealed
Planners presented two options for new tunnels that would help connect more parts of the Northern California megaregion to San Francisco and Oakland.
How the Yellowstone Floods Laid Bare a Housing Crisis
This year’s historic floods ravaged communities already roiled by spiking housing costs and a shortage of available workforce housing near the nation’s oldest national park.
Lane Council of Governments
City of Albuquerque Planning Department
City of Albuquerque Planning Department
HUD's Office of Policy Development and Research
Smart City Expo World Congress
Daniel R. Mandelker
City of Charleston
City of Crystal River
Sun City Center Community Association, Inc
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Hand Drawing Master Plans
This course aims to provide an introduction into Urban Design Sketching focused on how to hand draw master plans using a mix of colored markers.
