Buying a new home is always a stressful, if exciting, undertaking – requiring substantial investments of time, energy and money. In recent years, however, changes in the housing market mean that purchasing a dream property is more expensive than ever. Housing prices increased across the country in the second quarter of 2024, according to a recent report from the National Association of Realtors (NAR.
) In California, property values have increased so much that the median cost of a single-family home in the San Jose metropolitan area exceeded $2 million. “The record-high home prices in most metro markets bring good and bad news,” said NAR chief economist Lawrence Yun in a statement. “It’s terrific news for homeowners who are moving ahead in wealth gains.
However, it’s difficult for those wanting to buy a home as the required income to qualify has roughly doubled from just a few years ago.” The national median cost of buying a house continued to increase during the second quarter, rising to $422,100 for an already built, single-family home. This represents a 4.
9% increase compared to this time last year. In a climate so skewed in favor of sellers, it can be hard to separate genuinely great real estate listings from every other house on the market. Certain properties, however, would stand out in any market.
Each week, Quartz will highlight those listings – which feature remarkable views, enviable locations and luxurious amenities – ahead of the properties’ ope.