Home Price Data Illustrates Most Expensive & Least Expensive Cities to Buy a Home
Sites Forge New Agreement with BDX to Include New Home Listings
Miami, FL (October 9, 2012) – eReal Estate Holdings LLC, operator of leading real estate portals Condo.com, Houses.com, and Property.com today released an analysisof single-family home prices in major U.S. metros. The analysis uses infographics to depict median sales prices of 9 metro areas, and provides the 5 most expensive and least expensive metros to buy a home according to 2nd quarter home sales data.
Among the top most populated metropolitan cities shown on the infographic, homes in California, Hawaii and New York are the most expensive. San Jose, California, has the dubious honor of being the No. 1 most expensive metro, coming in with a median sales price of $660,000. Rounding out the top 5 list of highest median sales prices is New York, which came in No. 5 at $429,900 and is the only East Coast city on the list.
Finding the least expensive areas to buy a home is not too hard when all 5 are all located in the Midwest within Michigan, Ohio, Indiana and Illinois. The Midwest region was also hit hard with some of the highest unemployment rates in the country.
Higher median incomes and lower unemployment apparently have a lot to do with higher median home prices. Take a look at single-family homes in San Jose and San Francisco, 2 of the cities on the “5 Most Expensive Metros to Buy” infographic that also happen to have higher employment rates due to expansive technology markets, according to U.S. Census data.
Perhaps the most notable conclusion of the analysis is the discrepancy in home values between the most and least expensive metros. The infographic shows a near 1,000 percent difference in value between homes in San Jose and Detroit. It is clear that some parts of the country still have a long way to go with respect to seeing growth and a return to pre-real estate-bust home values.
Read more here. The Houses.com infographics are also available for use on your site or blog free of charge.
About eReal Estate Holdings
eReal Estate Holdings LLC owns and / or operates the category-defining portals Condo.com, Houses.com, Property.com and Location.com. These real estate portals are the world's largest online marketplaces for real estate with more than 30 million properties for sale, rent and vacation in the United States and 70-plus countries around the world. The sites receive more than 1.5 million visitors per month, and cost-effectively deliver exposure and qualified leads to builders, real estate professionals and homeowners. In addition to property for sale and properties for rent, site visitors have access to a wide variety of real estate-related products and services, including mortgages, credit repair, home improvement, moving and more. Location.com will be launched in October 2012 in order to capitalize on the rapid growth of location-based advertising and search.
The privately held eReal Estate Holdings LLC is headquartered in Miami, Florida. For more information, please visit Condo.com (http://www.condo.com), Houses.com (http://www.houses.com), Property.com and Location.com.
Houses.com and Condo.com Rapidly Grow New Construction Property Inventory
Miami, FL (May 2, 2011) – The world’s largest real estate marketplaces, Houses.com and Condo.com today announced that Builders Digital Experience (BDX) would become a preferred provider of new home listings for the sites. BDX is a leading provider of digital marketing resources for new home builders and operators of the number one new home website*, NewHomeSource.com.
BDX will provide Houses.com and Condo.com with new construction home listings from leading homebuilders in over 300 real estate markets across the country. The properties from NewHomeSource.com are a combination of planned communities and individual home sites totaling over 70,000 new home listings in various stages of development. Visitors to both sites will be able to search using a New Construction filter and find new home listings in the planning stages or in move-in ready condition. Builders listing their homes on NewHomeSource.com will have their communities included on Houses.com and Condo.com at no additional charge.
"The additional inventory is ideal for the rapidly growing global audience on Houses.com and our goal of providing users with the biggest selection of real estate listing worldwide for sale or for rent", stated Houses.com and Condo.com Chief Operating Officer Matthew Pluznick.
“We are excited to bring our new construction listings to these two leading websites. Reaching the Houses.com and Condo.com audiences adds value for our builders by increasing the exposure for their new homes and communities,” stated Tim Costello, CEO for BDX. “Adding these new sites to our distribution network of over 300 partner sites is an important development for our members. Builders can rest assured that when they list their homes with BDX, they’ve got the Internet covered,” added Costello.
Since the website’s launch last month, Houses.com has added thousands of listings through collaborating with a variety industry pioneers including BDX and their flagship site NewHomeSource.com. The Houses.com agreement with BDX is another step towards meeting the Company’s objective of creating a transparent global marketplace for houses and now provides visitors with the ability to search for new construction properties.
Condo.com is the world's largest condominium marketplace with over 2 million property listings valued in excess of $500 billion. The site receives over 1 million visitors monthly and is dedicated to the evolution and prosperity of the condominium real estate market.
The alliance allows BDX to provide another distribution outlet for builders interested in reaching new home shoppers, and is part of a larger BDX effort designed to help builders “List Once and Be Everywhere”. In addition to hundreds of partner sites, the BDX network includes NewHomeSource and Move New Homes, the number one and number two new home websites*. Collectively, the BDX network reaches over 40 million potential new home buyers each month*.
"We are excited about bringing BDX builder’s homes to our marketplaces…it’s a win-win for both companies”, added Richard Swerdlow – CEO of Condo.com and Houses.com.
About Houses.com and Condo.com
Houses.com and Condo.com are the world’s largest marketplaces for houses and condominiums. The sites showcase over 3 million properties for sale, rent and vacation in the United States and 70+ countries around the world. The sites receive a combined 1.5 million+ visitors per month and cost-effectively delivers exposure and qualified leads to developers, brokers and homeowners through the seamless distribution of its listings to a global network of real estate sites. In addition to property for sale and rent, users have access to a wide variety of real estate- related products and services including mortgages, credit repair, home improvement, moving and more. The Company is privately held and headquartered in Miami, Florida. For more information, please visit House.com (www.houses.com) and Condo.com (www.condo.com).
About Builders Digital Experience
Builder’s Digital Experience LLC (BDX) from Builder Homesite, Inc. and Move, Inc. (NASDAQ:MOVE), the leader in online real estate, was founded in October 2009 to combine the industry’s leading new home resources under one roof and offer builders innovative online marketing options, streamlined customer service and support, and greater value. BDX includes the top two new home websites, NewHomeSource.com from Builder Homesite and Move New Homes. Additional services include video production, rich media rendering, mobile search, custom website production, connections to real estate professionals, and more. Together these online and interactive resources help builders create a true digital experience for their buyers. For more information, visit www.thebdx.com.
This press release may contain forward-looking statements, including information about management's view of Move's future expectations, plans and prospects, within the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. These statements involve known and unknown risks, uncertainties and other factors which may cause the results of Move, its subsidiaries, divisions and concepts to be materially different than those expressed or implied in such statements. These risk factors and others are included from time to time in documents Move files with the Securities and Exchange Commission, including but not limited to, its Form 10-Ks, Form 10-Qs and Form 8-Ks. Other unknown or unpredictable factors also could have material adverse effects on Move's future results. The forward-looking statements included in this press release are made only as of the date hereof. Move cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, Move expressly disclaims any intent or obligation to update any forward-looking statements to reflect subsequent events or circumstances.* comScore
Holiday Home Shopping Trends for 2012
Member feedback and site stats on Houses.com indicate better deals and lower interest rates for Houses for sale in December
Miami, FL (December 26, 2012) – Shopping for a home online during the December holiday season has a number of advantages that benefit prospective homebuyers. At Houses.com, realtors are reporting a decrease in competition among buyers, along with an increase of extremely motivated sellers. Many sellers want to be out of their homes by spring or earlier. Perhaps these sellers are taking on a new job somewhere else in the country, or just want to be free and clear of homeownership for another reason. Additionally, the holiday season historically has some of the best mortgage interest rates when compared to other times of the year.
Less Competition, Lower Asking Prices
There are many people who want to buy a home in the near future, but right now are busy with the festivities of the holidays. That group of prospects won’t even start shopping for a home online until sometime in the first quarter of the year. That means less competition for the available lot of homes, which translates into better opportunities for those who are shopping for a home online now. Additionally, since sellers typically see fewer homebuying prospects touring their homes this time of year, they are happy to know that there are people out there shopping for a home online.
Homeowners who keep their listing on the market through the holidays are serious sellers. This is evidenced by an increase in the number of “featured listings” being purchased on Houses.com in December. Reasons for needing to sell quickly vary, but typically these owners want everything wrapped up before spring so they can move on. Hence, they are motivated to have as many eyeballs as possible looking for homes for sale online, and are hopeful that theirs will be found. These sellers know that there are fewer people willing to take the trek to their home for open houses and meeting with real estate agents in person during the holidays. So keeping the listing active gives them an online audience – those savvy enough to know that shopping for a home online during the holidays is smart. Plus, some sellers may lower their asking price in order to meet their deadline of selling and moving on, especially if their property has been on the market for some time. Selling before the year closes is another goal some sellers want to achieve. Find homes for sale here: http://www.houses.com/forsale.
Low Interest Rates
Because there are fewer people overall shopping for a home during the holidays, there are fewer requests for mortgage loans, meaning a better chance of getting a good deal on a loan for those who are not cash buyers. Also, historically mortgage interest rates decrease during this lull in homebuying. This is yet another opportunity for people shopping online for a home to lock in a low rate, even though the home will not close for a month or more. Learn more about mortgage rates here: http://www.houses.com/Learn/Finance.aspx.
So while other would-be homebuyers are busy returning gifts and lounging around during the holiday season, serious homebuyers are online searching for their next dream home. “That’s why real estate professionals advise people who plan to buy soon to shop online now,” said Richard Swerdlow, Chief Executive Officer of eReal Estate Holdings LLC - the parent company of Houses.com. “Beat the spring rush of traditional home shopping, seek out motivated sellers who may be willing to negotiate on their asking price, and if you plan on taking a loan, lock in an affordable interest rate.” “Prices generally are not getting any lower and in fact are creeping upwards, so doing some homework now will go a long way come closing time,” added Swerdlow.
About eReal Estate Holdings
eReal Estate Holdings LLC owns and / or operates the category-defining portals Condo.com, Houses.com, Property.com and Location.com. These real estate portals are the world’s largest online marketplaces for real estate with more than 30 million properties for sale, rent and vacation in the United States and 70-plus countries around the world. The sites receive more than 1.5 million visitors per month, and cost-effectively deliver exposure and qualified leads to builders, real estate professionals and homeowners. In addition to property for sale and properties for rent, site visitors have access to a wide variety of real estate-related products and services, including mortgages, credit repair, home improvement, moving and more. Location.com was launched in beta in November 2012 in order to capitalize on the rapid growth of location-based advertising and search.The privately held eReal Estate Holdings LLC is headquartered in Miami, Florida. For more information, please visit http://www.erealestateholdings.com.