“Until last decade, old hotels were all the rage in adaptive reuse due, in part, to their existing floorplans and utilities that were already fit for residential use. However, consistent urban demand and increased preference for open-plan layouts and out-of-the-box designs revealed the housing potential in non-residential buildings." --Alexandra Ciuntu, Researcher with RentCafe, Santa Barbara, Calif.

Redfin, Seattle, said the average homebuyer's monthly mortgage payment rose $50 over the past six weeks. At the same time, sellers' median asking price increased 12% year over year to a record high.