@properties Christie’s International Real Estate has released the findings of a new survey focused on brokerage technology.

While rising interest rates may lead to more reductions in the housing supply, it may also bring some much-needed balance to the market.

Mortgage applications fell more than 13% in the most-recent week tracked by the Mortgage Bankers Association’s Market Composite Index, while interest rates continued to rise. 

Nationwide, there are 481 million-dollar cities on Zillow’s list, meaning towns with a typical home value of $1 million or more.

In Saguache, Colorado, a monument to the Old West is for sale. Dubbed Old Cow Town, the property is a frontier replica, complete with a luxury lodge.

“Production disruptions are so severe that many builders are waiting months to receive cabinets, garage doors, countertops and appliances.” — NAHB Chairman Jerry Konter 

The sales pace of existing homes surged 6.7% in January after falling in December, as buyers got off the fence and went shopping ahead of rising interest rates, the National Association of Realtors reported.

The median household income in Miami is $43,400 and the median home price is $589,000. 

Single-family housing starts fell 5.6% from December’s revised estimate to 1,116,000, while multifamily starts slid 2.1% to 510,000, the U.S. Census Bureau and the U.S. Department of Housing and Urban Development said.

A five-bedroom, six-bathroom penthouse with a 4,000-square-foot terrace is on the market for $14.9 million.

January foreclosure filings were the highest since the start of the pandemic, according to a new report. 

Keyes takes over the space and operations at 615 Brickell Key Drive previously occupied by Brickell Royalty.

The average contract interest rate for 30-year fixed-rate mortgages backed by the Federal Housing Administration increased to 3.93% from 3.86%, the Mortgage Bankers Association said. 

Across the country, 10% of ZIP codes with the largest share of children had an average home value growth of 21.3% from October 2020 to October 2021.

Pathway Homes was formed by ResiLabs, a partnership between real estate private equity investor Regis Group, single-family rental landlord Invitation Homes Inc. and venture-capital firm Fifth Wall. 

The number of transactions involving South Florida’s ultra-luxury properties, valued at $10 million or more, grew by 118% last year.