March, 2022 - Sueep

U.S. pending home sales fell 5.7% in January, according to the National Association of Realtors

Economists polled by The Wall Street Journal expect pending home sales to rise 1%.

It was the third straight month of declines for the Pending Home Sales Index, which tracks transactions that have signed contracts but have not yet completed home sales.

The West was the only region active in January. Activity fell in all regions compared to levels 12 months ago.

The big picture: Overall, economists expect 2022 to be a tough year for housing. They didn’t expect the industry’s wheels to teeter at the start of the year.









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Legendary musician Paul Simon has yet to find a buyer for his longtime New Canaan, Connecticut property

Simon wants to move out of the home, which has been on the market since 2019 and is no longer available. It’s still up for sale for $12 million.

So far, the singer’s downsizing plan has been mistyped. The property is one of the most expensive offers in the town of Tony and has struggled to find a buyer.

Elegant hotels are undoubtedly highly regarded. The layout includes a 7,025-square-foot main house and a three-bedroom guest house that Simon uses for his music studio, where he reportedly recorded four albums.









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Russian investors have long pinpointed U.S. luxury real estate

Russian investors have long pinpointed U.S. luxury real estate. But since the Russian invasion of Ukraine last week, which has sparked worldwide condemnation and sanctions focused on Russia’s elite and their families, Russian buyers likely will make up less of the U.S. housing market, experts say.

Sunny Isles, Fla., is known as “Little Moscow” and “Moscow by the Sea” and has long been a hotbed for Russian investors to purchase luxury properties in the area. Wealthy Russians have acquired property all along Florida’s southeastern coast.

However, recently imposed economic sanctions directed at Russia aim to send a message that money cannot be safeguarded through family connections or in luxury real estate, the Miami Herald reports.









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