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… Continue reading Builders Slow Production to Catch Up With Demand
Author: david
Survey: 60% of Households Priced Out of New-Home Market
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 home increases by… Continue reading Survey: 60% of Households Priced Out of New-Home Market
Inventory Crisis Pushes Down Existing-Home Sales
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 levels,” he says.… Continue reading Inventory Crisis Pushes Down Existing-Home Sales
Advantages First-Timers Have Over Repeat Buyers
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 in today’s competitive… Continue reading Advantages First-Timers Have Over Repeat Buyers
McMansion Comeback: Markets With the Largest Listings
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 largest metros for… Continue reading McMansion Comeback: Markets With the Largest Listings