Most affordable ski towns

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Supply surge improving affordability in South and West link

• Housing supply increased by 19% nationally over the past year, with 49 out of the top 50 markets showing growth. Southern and Western regions experienced the largest supply surges, improving affordability significantly.

• In Tampa, Florida, inventory grew by nearly 33% year-over-year, leading to a 19% improvement in affordability. Markets with faster supply growth generally saw lower nominal price appreciation.

• Despite improvements, housing supply remains 26% lower than pre-pandemic levels in November 2019. Increased inventory is helping shift market power towards buyers, moderating prices and unlocking pent-up demand.

Housing inventory hits post-2020 high as unsold homes linger link

• Active home listings increased by 0.5% month over month and 12.1% year over year in November. This marks the highest inventory level since 2020, reflecting slower buyer activity.

• Rising mortgage rates and affordability concerns have contributed to homes staying on the market longer. Many sellers are hesitant to reduce prices despite lower demand.

• Markets with significant inventory increases include key suburban and secondary cities, where demand has softened notably compared to previous years.

America’s most affordable ski towns revealed:  link

• All 12 ski towns on the list have a median home listing price below $500,000, with half under $250,000. Malone, NY, offers homes for as little as $137,200, making it the most affordable option.

• Locations like Harrison, MI, and Mansfield, OH, provide affordable skiing access with median home prices of $164,500 and $179,900, respectively. Ski resorts in these areas offer low-cost season passes and family-friendly amenities.

• Snowshoe, WV, and Scranton, PA, stand out for their mix of affordability and quality ski facilities. Snowshoe Mountain Resort spans 257 acres, while Montage Mountain in Scranton features a 1,000-foot vertical drop and 26 trails.

• click on the link to see the rest of the list.

Flood-soaked homeowners face a costly choice: NY Times link

• In flood-prone areas like St. Petersburg, Florida, the cost of raising a home can exceed $400,000, often surpassing the home’s original purchase price. Federal aid through FEMA grants covers 75–100% of lifting costs but approvals can take years.

• Rising flood insurance premiums, sometimes increasing by 40%, are driving many homeowners to either elevate their homes or sell to wealthier buyers. Elevated homes often see premiums drop significantly, with one family reducing theirs from $5,000 to $800 annually.

• Homeowners who delay decisions face repeated flood damage, expensive repairs, and ongoing anxiety. Many neighborhoods are transforming into a mix of elevated homes and newer, larger constructions replacing older flood-damaged properties.

Small-scale buyers dominate 60% of all home investment purchases link

• Small investors (owning fewer than 10 properties) make up the majority of investor purchases, accounting for 60% of activity nationwide. Mega-investors hold a minimal share, with no MSA showing more than 5% of purchases by this group.

• Los Angeles leads in investor-owned homes, with 42% of all properties investor-owned in Q3 2024, dominated by small investors at over half the total. In contrast, mega-investors accounted for only 2% of purchases in the region.

• Investor activity saw a drop in Q3 2024, with monthly purchases declining to 85,000 compared to 140,000 in 2021. High mortgage rates and home prices are expected to keep investor activity stable at 25% of total sales.

Homebuyers' unusual property search terms link

• Pool was the top searched feature in 38 states, including obvious locations like California, Florida, and Texas. Ranch-style homes and garages topped searches in colder states like Alaska, North Dakota, and Wyoming.

• Scenic and waterfront properties were highly searched in areas such as Myrtle Beach, SC, Lake Tahoe, NV, and Lake Minnetonka, MN. Rural enthusiasts sought cabins and barndominiums in states like Michigan, Idaho, and North Carolina.

• Unusual searches included requests for "haunted houses" in 22 states and unique features like "roller coasters" in Colorado and "laser tag" in Michigan. Maine was the only state where farms ranked in the top three searches.

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