U.S. buyers are saving big on real estate in London

I’m Austin, CEO and co-founder of The real estate market is seeing major shifts this month, driven by mortgage rate changes and ongoing supply-demand dynamics. Last week, the Fed cut rates by 50 basis points, dropping mortgage rates to their lowest in two years. Demand was already rising in September, with more buyers re-entering the market as rates were dropping. This creates more liquidity for the vacation home market and empowers buyers to act. At Pacaso, 50% of our homes already offer financing at 5% or lower, making luxury co-ownership more accessible and attractive for families. Curious to know more? I share some of my latest insights on the U.S. housing market below. We'll continue to check in with any new developments, and encourage you to Mortgage rates continue to fall, with the contract rate on a 30-year fixed mortgage With rates dropping, buyer demand is on the rise. Mortgage applications surged by 14.2% in just one week according to The drop in mortgage rates below 6% has the potential to drive demand, which could increase home prices in many markets. While high rates over the past year have slowed price growth, an influx of buyers competing for a limited number of homes could reverse this trend, especially in popular markets. Prices will likely fluctuate in response to these changing dynamics and some regions will see sharper increases than others. The U.S. is grappling with a significant housing shortage — we are short

At Pacaso, we focus on curating inviting homes where families can unwind and enjoy memorable experiences together. Part of owning a Pacaso is also having the ability to resell your home. We're often asked about the true value of homes within our co-ownership marketplace. To better understand the financial performance of Pacaso homes compared to traditional luxury properties, we engaged the experts at According to RCLCO’s findings, shares of Pacaso homes have achieved an average Compound Annual Growth Rate (CAGR) of 9.7% — that’s 4.7% higher than traditional luxury homes in these respective markets. This means Pacaso homes have, on average, appreciated more than twice as much as other luxury homes priced at over $1 million in their respective areas by more than double. Owning a Pacaso can offer a return on investment for both one’s quality of life and for potential resale gain From 2021 to 2024, Pacaso homes have outperformed market averages in several of these luxury markets. In Napa-Sonoma, CA, Pacaso shares appreciated by 12.4%, compared to the market's 0.4%. In Malibu, CA, Pacaso shares rose by 9.6%, while the market saw a 2.2% increase. Lake Tahoe, CA, experienced a 9.5% appreciation in Pacaso shares, versus the market's 3.2%. In Vail, CO, Pacaso shares grew by 6.7%, compared to the market's 1.2%. Finally, in Charleston, SC, Pacaso shares appreciated by 7.9%, while the market saw a 2.9% increase. Overall, Pacaso shares have consistently outperformed the broader luxury market. The top 10 markets analyzed are where Pacaso saw the highest historical resale appreciation to date.  Pacaso makes the resale process smooth and flexible, empowering owners to sell their share at any time with the help of a resale expert who provides a market analysis. We leverage our pipeline of interested buyers and market the home extensively, resulting in many Pacaso homes having a long waitlist of potential buyers.  Due to the ease and value of ownership, many Pacaso owners prefer not to sell. However if they do, we know they often return. In fact, three out of four Pacaso owners who resell their homes express interest in co-owning another Pacaso property in the future.  To determine the average returns for Pacaso’s shares in each market, RCLCO used data provided by Pacaso, including the initial offering price, resale prices and sale dates for each share. RCLCO calculated the Compound Annual Growth Rate (CAGR) for each property and then averaged the CAGR for properties in a given market to find the average annual appreciation of Pacaso shares in that region. All data, including the locations shown on maps, were provided by Pacaso. For luxury real estate market returns, RCLCO relied on third-party data from Zillow (or Redfin for Park City). They analyzed transaction data for cities/municipalities where Pacaso homes are located, filtering for properties priced at $1 million or more. RCLCO calculated the average sale price for each year from 2021 to 2024 and then determined the CAGR using the 2021 and 2024 year-to-date prices.

I’m Austin,  CEO and co-founder of Summer is heating up the housing market, and we’re seeing some significant changes that could affect both buyers and sellers.  Despite persistently high interest rates, there has been a surge in home buying activity, refinancing and mortgage applications. However, inventory and housing affordability remains a key problem affecting many potential buyers.  Curious to know more? I share some of my latest insights on the US housing market below. We'll continue to check in with any new developments, and encourage you to

Gain insights from Spencer Rascoff, Co-Founder of Zillow, Pacaso, Hotwire, and leading experts Adam Checchi from Checchi Capital and Brian Gray from Gursey Schneider on financial planning, real estate investing, and the current economic landscape. The discussion covered a range of topics, including key takeaways such as:

Nearly everyone can agree that America has a housing supply problem. By the end of 2023, the U.S. had The Y.I.M.B.Y. movement in action The Y.I.M.B.Y. movement—it stands for yes, in my backyard—is gaining momentum in American communities. Local officials and residents are giving the go-ahead to accessory dwelling units, implementing “missing middle” ordinances, and rezoning for greater housing capacity. These efforts aim to address the housing shortage by creating a more diverse and plentiful supply of homes. "When it comes to solving the housing crisis, we need a dual approach: more construction and more efficient use of existing housing stock,” Pacaso CEO and Co-Founder Austin Allison said. “Communities across the country increasingly are open to innovative solutions, including higher density and co-ownership models that maximize the functionality of available homes. Embracing these strategies will lead to more options for homebuyers and better use of our limited resources." Pacaso set out to identify U.S. metropolitan areas that are embracing change to encourage density and provide a greater array of housing options. To find these Y.I.M.B.Y. trendsetters, we focused on areas with a clear need for new housing, where construction has been plentiful and price growth relatively modest. We concentrated on new development within existing communities, which are more frequently the source of local opposition, and excluded metros with high-growth exurban sprawl. "It's great to see examples of localities that are advancing pro-housing policies so activists, elected officials, and agencies can mirror their success in more places," said Jessamyn Garner, communications director at In collaboration with The top ten Y.I.M.B.Y markets revealed 1. Washington, D.C. Greater Washington, D.C., which includes parts of Virginia, Maryland, and West Virginia, led the pack far and away. Among the areas in greater Washington showing clear demand for new housing, more than 70 percent met our definition of Y.I.M.B.Y. While greater Washington has many existing high-density communities, the region rose to the top of our roster because its localities are leading advocates of Y.I.M.B.Y. land-use policy. Just outside Washington, D.C., Virginia's Arlington County adopted a “ 2. Chicago, Illinois Second on our list is Chicago, Illinois, which differs from some of our other top-ranked metros because it lacks the same strength of housing demand. Only about 7 percent of ZIP code areas in the 10 million-strong population of greater Chicago met our criteria for clear housing demand. However, those high-demand areas strongly correlated with our Y.I.M.B.Y. criteria. The city updated its Affordable Requirements Ordinance in 2021 to facilitate more affordable housing and encourage new construction. 3. Austin, Texas Austin, Texas, which ranks third on our list, stood out for the clear demand we found in all of its ZIP code areas; almost half of those emerged as Y.I.M.B.Y. In May, the Austin City Council voted to reduce the minimum single-family lot size and allow triplexes, townhomes, and other small multifamily developments in districts zoned for single-family houses. Nearby San Antonio also saw relatively large shares of their highly sought-after areas embracing Y.I.M.B.Y.ism.  4. Minneapolis, Minnesota Fourth on our list is Minneapolis, Minnesota. In 2019, it became the first large U.S. city to eliminate single-family zoning, a move intended to spur development of duplexes and other 5. Columbus, Ohio Columbus, Ohio, also high on the list, appears to be poised for even more housing The Salt Lake City area ranked among the top U.S. metros. In Utah, legislators passed a law in 2023 that requires municipalities and counties to regulate Finally, New York and Philadelphia, both desirable metros with high density, boast some of the most Y.I.M.B.Y. ZIP codes in the nation. Y.I.M.B.Y. locales and green-zone metros on the rise  The up-and-coming Y.I.M.B.Y. regions of Seattle (22.6%)  and Portland, Oregon (21.9%), stand out as early movers in streamlining construction of accessory dwelling units, or in-law units, and other land-use policy reforms.  Other high-growth metros proved to have weaker Y.I.M.B.Y. tendencies because their growth relied more squarely on exurban and low-density development. These include the regions of Phoenix and Las Vegas in particular, as well as Atlanta, Dallas, Nashville, and Florida’s Orlando and Tampa, where construction is taking place primarily outside areas with high demand in what are called green zones. Policymakers and economists are almost universally aligned in agreement that the country needs more housing to keep up with demand. But places at the top of our Y.I.M.B.Y. scale have been more proactive than others in loosening zoning restrictions, attracting development, and embracing innovative ways to make more efficient use of existing housing stock. They’re rethinking single-family zoning, encouraging mother-in-law or accessory dwelling units, and embracing innovations such as co-ownership. Pacaso is a member of Methodology Pacaso analysts worked with

Gain the latest insights, The discussion with Redfin CEO Glenn Kelman covered a range of topics, including key takeaways such as:

I’m Austin, CEO and co-founder of The housing market is indicating signs of recovery and stability in home prices, and we at Pacaso ended the summer with strong sales. Prospective homebuyers are increasingly turning to new construction due to the shortage of existing home listings and continuously fluctuating mortgage rates. This shift in buying behavior has resulted in a surge in new home sales and a modest uptick in pending sales, suggesting positive momentum in the market.  Here is a deeper dive into these observations: Home builders fuel slight sales surge Prospective homebuyers are undoubtedly feeling frustration amid scarce listings for existing homes. As a result, Additionally, according to In August 2023, Pacaso saw its strongest month of the year so far, recording a 142% increase in funded shares compared to July 2023.  Inventory remains low as buyers look to alternatives New listings hit a seasonal low in July, with just under 336,000 properties coming to the market according to However, Given the scarcity of inventory, homebuyers have alternative options like the rental market, which can provide an affordable option as they save up for a home purchase. In top second home markets, co-ownership options like Pacaso offer an innovative solution amidst soaring rates. This ownership  model enables buyers to own a portion of a luxury second home, reducing their monthly mortgage costs in markets like Vail and Tahoe compared to full ownership. Pacaso's resale market is also thriving, with homes averaging a more than Housing market set to embrace 7%+ rates In August, mortgage rates reached their highest levels in 21 years, as reported by While current mortgage rates are hovering above seven percent, the forecasted rates from Annual home prices stabilize, indicating housing market recovery Low inventory continues to cause U.S. home prices to increase. However, the recent rise in mortgage rates to 7% has cooled down the previously upward trajectory of home prices, which had been steadily increasing throughout the year. In June, prices rose on a monthly basis while annual prices remained unchanged, signaling a shift in the housing market. We'll continue to check in with updates, and encourage you to contact us with any questions about a market of interest.

As we approach our third birthday (cue the confetti) in October, it’s a great time to reflect on the vibrant marketplace we’ve built at Pacaso, starting with resales. Offering owners the flexibility to seamlessly resell their ownership interest, Pacaso simplifies the process by tapping into an established network of eager buyers, providing comprehensive marketing, and a team of dedicated resale experts to streamline the resale journey for all our valued owners. As the leader in second home co-ownership, we have achieved an impressive historical resale gain, surpassing 10% on resale share prices within our 40-destination marketplace. Now, let's dive into the data and explore the top 10 hottest Pacaso resale markets in company history. These are the markets that are seeing the biggest price gain for the resale of their share.  These are Pacaso’s top historical resale destinations  To determine the top resale markets in the Pacaso marketplace, Pacaso analyzed its second home resale transaction historical data. Here are the top 10 destinations that have the largest percentage of increase to date. 1. Hilton Head, South Carolina  2. Telluride, Colorado  Pacaso homes in 3. Napa and Sonoma, California  Pacaso homes in the 4. Breckenridge, Colorado Pacaso historically averages an impressive 20.1% gain on its resale listings in 5. Palm Springs, California and Park City, Utah  Pacaso homes in Recently, a Pacaso owner resold a share of his Indian Wells, California Pacaso home for a share price change of $83,000. He originally bought a 1/8 share for $267,000 and later sold the same share for $350,000. 6. Malibu, California Pacaso’s co-owned second homes resell for an average 17.3% gain in the popular Los Angeles County beach city of Spencer Rascoff, Pacaso co-founder and former Zillow CEO, is a Pacaso owner himself.  He purchased a 1/8 share of a beachside Pacaso home in Malibu that was a resale listing. The home was originally listed at $485,000 and Spencer purchased the resale for $637,500, a $152,500 share price difference. "I had my sights set on this particular home, and I found myself joining the waitlist because eight fortunate buyers got there before me. But let me tell you, it was worth not only that wait but every penny to secure that resold share,” expressed Spencer Rascoff, Pacaso co-founder and former Zillow CEO. “It's truly incredible to witness the vibrancy of our marketplace, with waitlists for certain homes and the demand for Pacaso properties." 7. Fort Lauderdale, Florida Pacaso homes in 8. Jackson, Wyoming Pacaso's co-owned second homes in 9. Newport Beach, California  Pacaso's second homes boast an impressive 15.6% gain in An owner in Newport Beach originally purchased two 1/8 shares in a Newport Beach home nestled along Corona del Mar’s famed Ocean Boulevard for $1,263,000 each. Our dedicated Pacaso resale experts successfully assisted this owner in selling both shares for $1,375,000 each, resulting in an $112,000 gain on the two shares, totaling $224,000. With these equity gains, this owner was able to seamlessly purchase ownership in the newest Pacaso property in the area, " 10. Lake Tahoe, California and Nevada  Pacaso operates on both sides of the California-Nevada state line in Methodology Pacaso identified the top resale destinations by analyzing the company’s resale data since June 2021, identifying the top ten Pacaso markets with the most significant resale appreciation through August 31, 2023, presented in ascending order.