Weather Alert
...The Flood Warning continues for the following rivers in Texas...Little Cypress Bayou Near Jefferson affecting Upshur, Gregg,Marion and Harrison Counties.For the Little Cypress Bayou...including Jefferson...Minor floodingis forecast.PRECAUTIONARY/PREPAREDNESS ACTIONS...Do not drive cars through flooded areas.Caution is urged when walking near riverbanks.Turn around, don't drown when encountering flooded roads. Most flooddeaths occur in vehicles.Motorists should not attempt to drive around barricades or drivecars through flooded areas.For more hydrologic information, copy and paste the following websiteaddress into your favorite web browser URL bar:https://water.noaa.gov/wfo/SHVThe next statement will be issued Thursday morning at 1115 AM CDT.&&...FLOOD WARNING REMAINS IN EFFECT UNTIL FURTHER NOTICE...* WHAT...Minor flooding is occurring and minor flooding is forecast.* WHERE...Little Cypress Bayou near Jefferson.* WHEN...Until further notice.* IMPACTS...At 16.0 feet, Lowland flooding will slowly decrease,however, the creek will remain above flood stage for several moredays.* ADDITIONAL DETAILS...- At 10:15 AM CDT Wednesday the stage was 15.3 feet.- Bankfull stage is 13.0 feet.- Recent Activity...The maximum river stage in the 24 hoursending at 10:15 AM CDT Wednesday was 15.3 feet.- Forecast...The river is expected to rise to a crest of 15.4feet this evening.- Flood stage is 13.0 feet.- Flood History...This crest compares to a previous crest of15.4 feet on 05/12/2015.- http://www.weather.gov/safety/flood&&
Weather Alert
...The Flood Warning is extended for the following rivers in Texas...Rabbit Creek At Kilgore affecting Gregg County.For the Rabbit Creek...including Kilgore...Minor flooding isforecast.PRECAUTIONARY/PREPAREDNESS ACTIONS...Do not drive cars through flooded areas.Caution is urged when walking near riverbanks.Turn around, don't drown when encountering flooded roads. Most flooddeaths occur in vehicles.Motorists should not attempt to drive around barricades or drivecars through flooded areas.For more hydrologic information, copy and paste the following websiteaddress into your favorite web browser URL bar:https://water.noaa.gov/wfo/SHVThe next statement will be issued Thursday morning at 1115 AM CDT.&&...FLOOD WARNING NOW IN EFFECT UNTIL FURTHER NOTICE...* WHAT...Minor flooding is occurring and minor flooding is forecast.* WHERE...Rabbit Creek at Kilgore.* WHEN...Until further notice.* IMPACTS...At 14.0 feet, Expect about one hundred acres to flood.* ADDITIONAL DETAILS...- At 10:45 AM CDT Wednesday the stage was 13.2 feet.- Bankfull stage is 10.0 feet.- Recent Activity...The maximum river stage in the 24 hoursending at 10:45 AM CDT Wednesday was 13.9 feet.- Forecast...The river is expected to rise to a crest of 13.6feet this evening.- Flood stage is 10.0 feet.- Flood History...This crest compares to a previous crest of13.5 feet on 04/17/2021.- http://www.weather.gov/safety/flood&&
Weather Alert
...The Flood Warning continues for the following rivers in Texas...Sabine River At Longview affecting Rusk and Gregg Counties.For the Sabine River...including Mineola, Hawkins, Gladewater,Longview, Beckville, Logansport...Major flooding is forecast.PRECAUTIONARY/PREPAREDNESS ACTIONS...Do not drive cars through flooded areas.Caution is urged when walking near riverbanks.Turn around, don't drown when encountering flooded roads. Most flooddeaths occur in vehicles.For more hydrologic information, copy and paste the following websiteaddress into your favorite web browser URL bar:https://water.noaa.gov/wfo/SHVThe next statement will be issued Thursday morning at 1100 AM CDT.&&...FLOOD WARNING REMAINS IN EFFECT UNTIL FURTHER NOTICE...* WHAT...Minor flooding is occurring and moderate flooding isforecast.* WHERE...Sabine River at Longview.* WHEN...Until further notice.* IMPACTS...At 31.0 feet, Flooding of river bottoms and lowlandswill slowly decrease during the next several days.* ADDITIONAL DETAILS...- At 10:00 AM CDT Wednesday the stage was 27.8 feet.- Bankfull stage is 25.0 feet.- Recent Activity...The maximum river stage in the 24 hoursending at 10:00 AM CDT Wednesday was 27.8 feet.- Forecast...The river is expected to rise to 32.9 feet Mondaymorning. Additional rises are possible thereafter.- Flood stage is 25.0 feet.- Flood History...This crest compares to a previous crest of32.9 feet on 05/17/1969.- http://www.weather.gov/safety/flood&&
Weather Alert
...The Flood Warning continues for the following rivers in Texas...Sabine River Near Beckville affecting Rusk, Panola, Gregg andHarrison Counties.For the Sabine River...including Mineola, Hawkins, Gladewater,Longview, Beckville, Logansport...Major flooding is forecast.PRECAUTIONARY/PREPAREDNESS ACTIONS...Do not drive cars through flooded areas.Caution is urged when walking near riverbanks.Turn around, don't drown when encountering flooded roads. Most flooddeaths occur in vehicles.For more hydrologic information, copy and paste the following websiteaddress into your favorite web browser URL bar:https://water.noaa.gov/wfo/SHVThe next statement will be issued Thursday morning at 1100 AM CDT.&&...FLOOD WARNING REMAINS IN EFFECT UNTIL FURTHER NOTICE...* WHAT...Minor flooding is occurring and minor flooding is forecast.* WHERE...Sabine River near Beckville.* WHEN...Until further notice.* IMPACTS...At 30.0 feet, Expect moderate to severe flooding of thelowland floodplain for the next several days.* ADDITIONAL DETAILS...- At 10:45 AM CDT Wednesday the stage was 29.4 feet.- Bankfull stage is 25.0 feet.- Recent Activity...The maximum river stage in the 24 hoursending at 10:45 AM CDT Wednesday was 29.4 feet.- Forecast...The river is expected to rise to a crest of 29.7feet just after midnight tonight.- Flood stage is 26.0 feet.- Flood History...This crest compares to a previous crest of29.9 feet on 12/29/2015.- http://www.weather.gov/safety/flood&&
Weather Alert
...Forecast flooding changed from Moderate to Major severity for thefollowing rivers in Texas...Sabine River Near Gladewater affecting Upshur, Gregg, Wood andSmith Counties.For the Sabine River...including Mineola, Hawkins, Gladewater,Longview, Beckville, Logansport...Major flooding is forecast.PRECAUTIONARY/PREPAREDNESS ACTIONS...Do not drive cars through flooded areas.Caution is urged when walking near riverbanks.Turn around, don't drown when encountering flooded roads. Most flooddeaths occur in vehicles.Motorists should not attempt to drive around barricades or drivecars through flooded areas.For more hydrologic information, copy and paste the following websiteaddress into your favorite web browser URL bar:https://water.noaa.gov/wfo/SHVThe next statement will be issued Thursday morning at 1030 AM CDT.&&...FLOOD WARNING REMAINS IN EFFECT UNTIL FURTHER NOTICE...* WHAT...Minor flooding is occurring and major flooding is forecast.* WHERE...Sabine River near Gladewater.* WHEN...Until further notice.* IMPACTS...At 38.0 feet, The approaches to U.S. Highway 271 floodsat the Sabine River bridge. Expect major flooding to continue forseveral more days.* ADDITIONAL DETAILS...- At 9:15 AM CDT Wednesday the stage was 31.0 feet.- Bankfull stage is 25.0 feet.- Recent Activity...The maximum river stage in the 24 hoursending at 9:15 AM CDT Wednesday was 31.0 feet.- Forecast...The river is expected to rise to 38.2 feet Mondaymorning. Additional rises are possible thereafter.- Flood stage is 26.0 feet.- Flood History...This crest compares to a previous crest of38.3 feet on 01/28/1938.- http://www.weather.gov/safety/flood&&
Weather Alert
...FLOOD WATCH REMAINS IN EFFECT THROUGH THIS EVENING...* WHAT...Flooding caused by excessive rainfall continues to bepossible.* WHERE...Portions of Arkansas, including the following counties,Columbia, Hempstead, Howard, Lafayette, Little River, Miller,Nevada, Sevier and Union, Louisiana, including the followingparishes, Bienville, Bossier, Caddo, Caldwell, Claiborne, De Soto,Grant, Jackson, La Salle, Lincoln, Natchitoches, Ouachita, RedRiver, Sabine, Union, Webster and Winn, southeast Oklahoma,including the following county, McCurtain, and Texas, includingthe following counties, Angelina, Bowie, Camp, Cass, Cherokee,Franklin, Gregg, Harrison, Marion, Morris, Nacogdoches, Panola,Red River, Rusk, Sabine, San Augustine, Shelby, Smith, Titus,Upshur and Wood.* WHEN...Through early this evening at 7 p.m.* IMPACTS...Excessive runoff may result in flooding of rivers,creeks, streams, and other low-lying and flood-prone locations.Flooding may occur in poor drainage and urban areas. Extensivestreet flooding and flooding of creeks and rivers are possible.Area creeks and streams are running high and could flood with moreheavy rain.* ADDITIONAL DETAILS...- Ongoing thunderstorms this morning will carry into theafternoon heating with heavy down pours possible.- http://www.weather.gov/safety/floodPRECAUTIONARY/PREPAREDNESS ACTIONS...You should monitor later forecasts and be alert for possible FloodWarnings. Those living in areas prone to flooding should be preparedto take action should flooding develop.&&
Across the U.S., New York (84.7%), Boston (72.9%), and Nashville (68.6%) Experienced the Highest Increases in Median Price Per Square Foot Since Before the Pandemic
SANTA CLARA, Calif., June4, 2024 /PRNewswire/ -- According to the Realtor.com® May housing data, median list prices have increased 37.5% since May 2019, and while prices grew in that time frame, inventory is down 34.2% compared with typical 2017 to 2019 levels pointing to the market being in seller-friendly territory.
"In addition to higher median list prices and fewer homes for sale versus 2019, the increase in median price-per-square foot suggests that the typical home on the market today is worth 52.7% more than before the pandemic, more than double the roughly 23% increase in consumer price inflation in this period." said Danielle Hale, Chief Economist, Realtor.com® "The specifics will vary from market to market, but the data suggest ongoing opportunity for many sellers. Though with mortgage rates still much higher than many existing homeowners enjoy, this opportunity favors sellers who don't have to replace a mortgage, such as investors or second homeowners looking for an exit, or equity-rich homeowners looking to downsize in their current area or to a lower-cost region, as well as those planning to rent their next home."
May 2024 Housing Metrics – National
Metric | Change over May 2023 | Change over May 2019 |
Median List Price Per Sq.Ft. | +3.8% | +52.7 |
Median listing price | +0.3% (to $442,500) | +37.5% |
Active listings | +35.2% | -33.3% |
New listings | +6.2% | -26% |
Median days on market | +1 days (to 44 days) | -8 days |
Share of active listings with price reductions | +3.8 percentage points (to 16.6%) | +1.2 percentage points |
A Closer Look at Price Per Square Foot
The median price of homes for sale this May remained relatively stable growing from $441,000 last year to $442,500 this year, a slight increase of 0.3%. However, a closer look at median price-per-square foot, which can be seen as a better indication of home value, shows an increase of 3.8%. The difference between percent change in median listing price and median price-per-square foot shows that, in this time frame, the share of inventory of smaller and more affordable homes has grown, which helps hold down the median price even as per-square-foot prices grow further. When looking at pre-pandemic levels, across the country the median price-per-square foot experienced staggering increases. Nearly half of the 50 metros included in the report saw an increase in median price-per-square foot of at least 50% since 2019, with the top metros seeing massive changes; New York (84.7%), Boston (72.9%), and Nashville (68.6%).
Metros with Highest Increase in Median List Price-Per-Sq. Ft. Compared to May 2019
- New York-Newark-Jersey City, N.Y.-N.J.-Pa. - 84.7%
- Boston-Cambridge-Newton, Mass.-N.H. - 72.9%
- Nashville-Davidson-Murfreesboro-Franklin, Tenn. - 68.6%
- Tampa-St. Petersburg-Clearwater, Fla. - 68.0%
- San Diego-Chula Vista-Carlsbad, Calif. - 65.7%
- Austin-Round Rock-Georgetown, Texas - 64.7%
- Memphis, Tenn.-Miss.-Ark. - 64.2%
- Riverside-San Bernardino-Ontario, Calif. - 62.7%
- Washington-Arlington-Alexandria, DC-Va.-Md.-W. Va. - 61.3%
- Hartford-East Hartford-Middletown, Conn. 57.7%
Income Required Continues to Rise
The increase in median price per square foot between May 2019 and now can be seen as a positive for sellers, especially considering the growth of 52.7% suggests the median home on the market is worth that much more today than pre-pandemic. However, for buyers the increase could mean being priced out for certain homes if their household income did not experience similar or greater growth, especially when taking higher mortgage rates into account. This May, the typical monthly mortgage payment of the median home grew by roughly $158 compared with a year ago. This increased the required household income to purchase the median-priced home by $6,400, to $119,700, after also accounting for the cost of tax and insurance.
Inventory Rises with More Affordable Homes Entering the Market
For the seventh straight month, homes actively for sale rose, with 35.2% more homes actively for sale in May 2024, compared with the same time last year. A few metros saw huge gains in active listings year-over-year including Tampa (87.4%), Phoenix (80.3%), and Orlando (78.0%). A deeper dive into the mix of homes for sale shows a 46.6% increase in homes priced in the $200,000 to $350,000 range across the country year-over-year, even surpassing last month's high of 41.0%, indicating affordable homes continue to enter the market; some much welcomed news for prospective buyers.
As the market continues to evolve, homeowners, buyers and sellers looking to stay on top of the potential effects of fluctuations in the real estate market can use tools like MyHome on Realtor.com® to get trusted home valuations, estimate how much can be made by hosting a home on Airbnb, explore projects that can add the most value to a home and more.
Additional details and full analysis of the market inventory levels and additional trends in listing prices and more can be found in the Realtor.com® May Monthly Housing Report.
List of Metro Areas Sorted by Median Listing Price per Sq. Ft. vs 2019 (Most to Least)
Metro Area | Median Listing Price | Median Listing Price YoY | Median Listing Price per Sq. Ft. YoY | Median Listing Price vs May 2019 | Median Listing Price per Sq. Ft. vs 2019 |
$789,000 | 7.50% | 10.20% | 34.00% | 84.70% | |
$900,000 | 3.80% | 10.20% | 49.40% | 72.90% | |
$588,000 | 1.50% | 6.10% | 57.10% | 68.60% | |
$425,000 | -3.20% | -0.50% | 49.60% | 68.00% | |
$1,072,000 | 1.60% | 5.70% | 49.50% | 65.70% | |
$565,000 | -3.10% | 0.20% | 52.30% | 64.70% | |
$350,000 | 7.70% | 1.80% | 52.10% | 64.20% | |
$620,000 | 6.80% | 6.60% | 48.00% | 62.70% | |
$640,000 | 0.00% | 8.40% | 31.30% | 61.30% | |
$447,000 | 5.10% | 14.10% | 49.00% | 57.70% | |
$545,000 | 2.90% | 1.80% | 45.50% | 57.70% | |
$473,000 | 7.10% | 5.70% | 39.80% | 56.90% | |
$435,000 | 0.00% | 4.00% | 22.30% | 56.80% | |
$477,000 | N/A | N/A | 49.10% | 56.20% | |
$440,000 | -2.10% | 0.50% | 39.70% | 55.30% | |
$1,248,000 | 8.50% | 7.30% | 55.10% | 54.90% | |
$402,000 | 2.20% | 5.90% | 29.70% | 54.80% | |
$350,000 | 0.90% | 4.60% | 23.70% | 54.50% | |
$423,000 | -0.90% | 1.00% | 34.20% | 54.00% | |
$382,000 | 9.30% | 8.30% | 33.90% | 53.80% | |
$462,000 | -2.60% | 4.40% | 23.20% | 53.70% | |
$424,000 | -1.40% | 2.50% | 28.50% | 52.90% | |
$383,000 | -1.60% | 4.70% | 32.20% | 52.20% | |
$300,000 | 18.60% | 10.50% | 35.80% | 50.30% | |
$539,000 | -11.20% | -7.80% | 34.90% | 49.70% | |
$440,000 | -4.90% | -1.10% | 35.40% | 48.90% | |
$777,000 | -5.50% | -0.20% | 24.60% | 47.00% | |
$586,000 | 8.50% | 1.00% | 54.20% | 46.90% | |
$639,000 | -6.30% | 1.90% | 24.10% | 46.80% | |
$395,000 | 2.10% | 6.60% | 33.90% | 45.60% | |
$459,000 | -2.10% | 1.10% | 26.10% | 44.40% | |
$339,000 | -4.30% | 0.50% | 31.20% | 44.00% | |
$340,000 | 5.00% | 4.10% | 17.30% | 42.70% | |
$400,000 | 6.70% | 7.90% | 31.20% | 40.90% | |
$673,000 | 1.60% | 4.20% | 36.70% | 40.70% | |
$625,000 | -2.30% | 1.80% | 30.50% | 40.40% | |
$348,000 | -2.60% | -0.90% | 17.80% | 40.00% | |
$370,000 | -1.30% | 0.30% | 13.90% | 38.10% | |
$465,000 | 1.10% | 1.90% | 27.60% | 35.80% | |
$400,000 | 6.30% | 6.90% | 17.90% | 32.40% | |
$312,000 | 10.90% | 6.30% | 35.00% | 32.40% | |
$264,000 | 10.80% | 10.90% | 34.60% | 32.20% | |
$274,000 | 15.90% | 15.20% | 35.50% | 31.40% | |
$1,041,000 | -11.70% | -4.40% | 7.50% | 30.80% | |
$300,000 | 1.20% | 2.30% | 13.20% | 26.40% | |
$339,000 | -1.90% | -1.50% | 16.00% | 26.40% | |
$1,469,000 | -4.00% | -0.40% | 23.60% | 26.30% | |
$360,000 | 2.80% | 2.10% | 6.50% | 24.80% | |
$260,000 | -3.00% | 0.50% | -0.20% | 23.20% | |
$310,000 | N/A | N/A | N/A | N/A |
About Realtor.com®
Realtor.com® is an open real estate marketplace built for everyone. Realtor.com® pioneered the world of digital real estate more than 25 years ago. Today, through its website and mobile apps, Realtor.com® is a trusted guide for consumers, empowering more people to find their way home by breaking down barriers, helping them make the right connections, and creating confidence through expert insights and guidance. For professionals, Realtor.com® is a trusted partner for business growth, offering consumer connections and branding solutions that help them succeed in today's on-demand world. Realtor.com® is operated by News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc. For more information, visit Realtor.com®.
Media Contact
press@realtor.com
View original content:https://www.prnewswire.com/news-releases/realtorcom-may-housing-report-median-price-per-square-foot-experiences-monumental-rise-growing-52-7-since-2019--302162605.html
SOURCE Realtor.com
Originally published on the BLOX Digital Content Exchange.
Tags
- Nasdaq-nms:nwsa
- Nasdaq-nms:nws
- Australia:nwslv
- Australia:nws
- California
- West/southwest
- United States Of America
- North America
LATEST E-EDITION
Most Popular
- Articles
- Images
- Videos
Articles
- Longview police identify pedestrian killed on Pine Tree Road
- Amid public backlash, company's CEO says 'entirely clean' biorefining facility planned in Longview
- Marriage licenses: May 20-24, 2024
- 'A whole morning event': Historic Longview Farmers Market open for summer
- STATEment: Panthers punch ticket to state tournament
- 'Excited to be here': Longview ISD superintendent finalist meets district staff
- Business Beat: Longview insurance agency on the move
- Gregg County judge, commissioner spar over funding for new parking garage
- Gregg County court indicts 12 people
- Simpson: Something is rotten in American partisanship
