A new US Home sales report released in the second quarter of 2019 highlighted an increase in the US single-family homes and condos prices. The report was released by the nation’s premier property database, ATOM Data Solutions showed that the US single homes were sold for a median price of $266,000 in the second quarter. The jump is 10.8 percent from the last quarter and a 6.4 percent from the previous year.
According to the report, Annual Home Price Appreciation (HPA) witnessed an increase in 89 percent of Local Markets. The US Average Homeownership Tenure saw an increase of 4 percent and the Profit Margins rose to 33.9 percent with Dollar Gains stood at $67,500. As per the report, the homeowners who sold their houses in the second quarter enjoyed ownership for an average time period of 8.09 years. It showed an increase of 3 percent from the last quarter and a 4% jump from Q2 2018.
Out of 149 metro areas, a total of 133 areas witnesses an annual home price appreciation in the second quarter of 2019. Milwaukee, Wisconsin saw an increase of 9% during the Q2 of 2019 and many home sales services in Milwaukee got benefitted due to this trend. Cream City Home Buyers is one such service who allows people to sell their houses in order to get cash for houses in Milwaukee. Other places such as Boston, Salt Lake City, Columbus, and Birmingham also witnessed an increase in home prices.
Since 2005, the prices of US Homes have always witnessed a jump in the Q2 of every year and this is the maximum hike in median home prices in the country. According to Todd Teta, chief product officer at ATTOM Data Solutions, the mortgage rates fell to a new low and it is due to this reason that people went for buying a new home despite the hike in prices. Further, he said that the home prices are going to fall in the coming quarters which would facilitate an increase in the sale of houses.
Luxury Trampoline Park is Comming to Peninsula Town Center
Hampton – Peninsula Town Center in the state is carrying a construction activity of a new apartment building and a trampoline park. A team of Mark Turner Construction has begun work last week on Sky Zone entertainment facility that holds 23,000 square foot area. The trampoline park will share space in a 97,000 square foot structure with Floor & Decor store, that has already opened there last year. Opening of the trampoline park was announced in 2018 and the work is projected to complete before the Christmas holiday next year.
When the park would open, it will create about 120 new jobs for the local people such as fitness trainers and other staff. The trampoline park will feature several attractions, like three best water trampoline, climbing walls, a warrior style obstacle course, trampoline dodgeball, trampoline mat, and a zip line. The building will be a single-story complex which will include party rooms, kitchen, offices, and bathrooms. The park and building will completely transform the Peninsula Town Center.
Construction work is going with a rapid pace and the construction company, Mark Turner Construction, is expecting to open the area for the public in late winter or early spring 2020. The new apartment will have 169 units, and they will offer more family entertainment options by providing a lot of things to do. The whole property is a special tax district managed by the Peninsula Town Center Community Development Authority. The authority looks after the improvement of the streets, parking, infrastructure and public park in the area. It will generate revenue after using a special assessment of 0.5% on purchase patrons make.
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