New York City ranks No. 1 globally for the second year, led by its strong economy and educated population. Boston enters the top 10 at No. 8, driven by universities and tech sectors but faces climate challenges. Washington, DC is 12th, with high human capital but political instability risks. Philadelphia ranks 33rd, noted for healthcare and logistics. Other US cities show strengths in education and economics but face inequality and environmental issues.
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U.S. home sales peaked in 2021, declined through 2024, and are expected to see mild growth in 2025-2026.Mortgage interest rates will continue influencing market trends, impacting prices and buyer demand.
Ranked 9th overall on Q1 fundamentals.
Placed 5th for share of loans maturing in 2025.
In 2024, 1-bedroom units made up ~48% of all newly built apartments.
The avg apartment size grew to 908 sq ft, despite a long-term trend of shrinking 2- and 3-bedroom units.
Developers are adjusting unit sizes to meet rising housing demand, often resulting in smaller living spaces in certain cities.
In Washington, D.C., the avg size of a new apartment is 745 square feet, a 7% decrease over the past decade.
The avg monthly rent in D.C. is $2,298.
Active home listings in the D.C. region are up nearly 47% compared to this time last year.
The surge in listings is largely driven by federal workers impacted by government changes selling their homes.
Affording a new home has become significantly more challenging, with a typical household income requirement of $117,000 in 2025, up from $78,000 before the pandemic. This 50% increase contrasts with a 27% rise in wages. High home prices and mortgage rates are key factors, making it difficult for first-time buyers, who often rely on loans. Cash buyers dominate the market, pushing the average age of first-time buyers to 38. Home prices are projected to rise another 5% this year, while the rental market remains more affordable.
This day honors the brave men and women who have sacrificed their lives to defend America's freedom.It became an official federal holiday in 1971.
Americans observe Memorial Day by visiting cemeteries and memorials.
Certain home renovations can significantly increase selling prices, with "new landscape" yielding the highest boost at 8.1%, equating to a $34,794 increase for median-priced homes. "Renovated kitchen" followed with a 7% increase, while "remodeled kitchen" added only 4%. Updates to kitchens and bathrooms generally provide better returns than less visible renovations. Notably, "new roof" only raised prices by 1.1%. Visible improvements are more appealing to buyers, emphasizing the importance of curb appeal in home sales.
Washington, D.C. could convert vacant office buildings into co-living units to combat housing and homelessness.A proposed downtown D.C. building could hold 530 microapartments, with shared kitchens and bathrooms.