The housing market has been on a wild ride since the start of 2020. It was healthy as the economy went through a multilayer expansion. When the COVID-19 pandemic hit, home sales plunged for a few months, and prices suffered as the U.S. hit a short recession. By 2021, the residential residence market was on fire.
Most months over the last year, home prices have risen by 20% per month, year over previous year, according to the S&P Case Shiller home price index. In some cities, which include Phoenix and Tampa, the number has been closer to 30%. Part of the reason is that people have relocated from the very expensive cities on both coasts, which include San Francisco and New York. The ability to work from home has also made Americans able to move from where they had to work because of jobs to where they wanted to live for lifestyle reasons.
The popularity of individual homes may be based on the locations where the most people are moving. Sometimes, the interest is random. Realtor.com posts the 10 most popular homes each week based on how money people view listings online. The homes are rarely in the same city.
Recently, Realtor.com released a list of the ten most popular homes so far this year. Several cost over $50 million. Three are owned, or were owned by celebrities. These include actor Mark Walhberg, race car driver Tony Stewart, and TV producer Aaron Spelling who died in 2006.
The most popular home was the one at 944 Airole Way, Los Angeles, CA. It is on the market for $141million. Realtor.com researchers describe it as “With majestic views of the Pacific Ocean, this sprawling mansion took 10 years to complete. One of the largest homes in the U.S. The ultraluxe place boasts 21 bedrooms and 49 bathrooms.”
The Airole Way is in the 90077 Zip Code, which is in Bel Aire, just north of Beverly Hills. It has 9,337 residents. Median home prices are just over $1 million, one of the highest in the country.
Sponsored: Tips for Investing
A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.
Editors' Picks
