This information is coming from my lender at HomeTrust/Kelly Frey Housing Starts fell 14.4% in May, to a 1.549 million annual rate. The monthly decline was due to both single-family and multi-unit starts, and for the year, single-families are down 5.3%, multi-units down 3.3%. Builders are cautious about future demand thanks to rising mortgage rates--plus, projects in their pipelines are now at the...
June 2022
Agents, buyers, sellers, and investors have had ample reason to question the sustainability of the real estate market. After all, the scorching-hot housing market was fueled in part by COVID-related lockdowns and life disruptions that are becoming more rare. Rising interest rates, intractably high home prices, and continued rumblings about a recession add to skepticism about the housing market's...
Over time, more than half of homebuyers would prefer to buy a newly-built home over an existing home. More than 10% of U.S. home purchases are from buyers of new homes. In many ways, that's no surprise, as new homes can be specified for buyer preferences, are extra clean, energy efficient, require less maintenance, and are move-in ready at the time of purchase. But right now, the market for newly...