Builders Slow Production to Catch Up With Demand

May 27, 2021 | Comments Off on Builders Slow Production to Catch Up With Demand

Builders are slowing down production to catch up with a backlog of projects while trying to keep construction prices in check. According to real estate analytics firm Zonda’s latest New-Home Pending Sales Index, which reflects February housing data, pending new-home sales fell month over month but are still up 35% annually across the country. Government […]

Survey: 60% of Households Priced Out of New-Home Market

April 19, 2021 | Comments Off on Survey: 60% of Households Priced Out of New-Home Market

March 15, 2021 Sixty percent of U.S. households are priced out of the new-home market, according to estimates from the National Association of Home Builders. About 75.1 million households would be unable to qualify for a mortgage to purchase a median-priced new home under standard underwriting criteria. What’s more: If the median price of a […]

Inventory Crisis Pushes Down Existing-Home Sales

March 31, 2021 | Comments Off on Inventory Crisis Pushes Down Existing-Home Sales

March 22, 2021 Following months of sharp gains, existing-home sales reversed course in February, falling 6.6%, the National Association of REALTORS® reported Monday. However, the dip—precipitated by a persistent inventory crunch that’s getting worse—isn’t necessarily a significant drag on the real estate market, says NAR Chief Economist Lawrence Yun. “The market is still outperforming pre-pandemic […]

Advantages First-Timers Have Over Repeat Buyers

March 23, 2021 | Comments Off on Advantages First-Timers Have Over Repeat Buyers

March 15, 2021 Even as home prices rapidly escalate, many first-time home buyers—a group economists long feared would be priced out of the market—are finding they actually have advantages over repeat buyers: more flexibility in the transaction and access to a greater variety of financing options. Flexibility is particularly helpful when shopping for a home […]

McMansion Comeback: Markets With the Largest Listings

March 22, 2021 | Comments Off on McMansion Comeback: Markets With the Largest Listings

March 15, 2021 The McMansion, which was popular in the 1980s and ’90s, is having a renaissance as demand surges during the pandemic for larger properties with expansive yards. Homes that are 4,000 square feet or more sold 70% faster than smaller homes nationwide in February, according to realtor.com®. Realtor.com®’s research team evaluated the 150 […]

Mortgage Rates Continue Slow Climb Over 3%

March 17, 2021 | Comments Off on Mortgage Rates Continue Slow Climb Over 3%

March 12, 2021 The 30-year fixed-rate mortgage continued to move higher this week, now averaging 3.05%, Freddie Mac reports. “It looks like rates in the 2% range are over while current mortgage rates will likely be the lowest,” Nadia Evangelou, senior economist and director of forecasting at the National Association of REALTORS®, writes on the […]

The Most Sought-After Apartment Amenities

March 15, 2021 | Comments Off on The Most Sought-After Apartment Amenities

March 15, 2021 Lifestyle improvement has emerged as the main motivator for renters looking for new spaces a year after the COVID-19 pandemic began, according to a new survey from RentCafé. Back in March 2020, the top renter preference centered around pricing. In the latest survey, 41% of renters chose “open-air amenities” and “more space” […]

Builders Change Selling Tactics Amid Supply Shortage

November 19, 2020 | Comments Off on Builders Change Selling Tactics Amid Supply Shortage

Builders say a shortage of supplies, including appliances, hardware, flooring products, and lumber, is affecting the timelines and costs of their projects, and they’ve had to find ways to pass those costs on to customers. Builders report difficulties getting air conditioners, refrigerators, washing machines, and other appliances for new homes. Production and supply chain disruptions […]

Sales of Million-Dollar Homes Double in a Year

November 13, 2020 | Comments Off on Sales of Million-Dollar Homes Double in a Year

October 26, 2020 Home sales are rapidly increasing during the pandemic, but the most dramatic spike is occurring at the top of the market. Sales of homes costing $1 million or more have more than doubled since last year. “I don’t ever recall home sales doubling in a 12-month time span,” Lawrence Yun, chief economist […]

Why Aren’t Mortgage Rates Even Lower?

November 11, 2020 | Comments Off on Why Aren’t Mortgage Rates Even Lower?

The Federal Reserve issued an emergency rate cut on Tuesday amid growing fears over a U.S. outbreak of the COVID-19 disease. The 10-year Treasury note, which mortgage rates follow, plunged to a record low last week. Mortgage rates are already hovering at 2016 lows, but some financial experts say rates should be much lower. Last […]

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