The soaring cost of building materials and the spiking interest in housing among investors are major contributors to today’s rising housing prices and lack of inventory that keep individual homebuyers at a disadvantage. As has been reported in Inman News, the coronavirus pandemic has reshuffled job markets, a years-long building shortfall and wave of millennials […]
Good News for Home Builders
With lumber prices experiencing extreme price volatility this year and harming housing affordability, a final determination by the U.S. Commerce Department to reduce duties on shipments of Canadian lumber into the United States by more than half is good news for American home builders and home buyers. “The Commerce Department’s action to reduce duties from more […]
Builder Confidence Surges
Few thought the housing market would see this quick a turnaround in homebuyer demand. The COVID-19 pandemic dragged down the spring buying season as states and cities issued stay-at-home orders. But despite the lingering pandemic and subsequent economic recession, homebuilders are upbeat on housing heading into summer. Builder sentiment surged 21 points in June, the […]
Builder Optimism Growing Thanks to Falling Rates
The numbers: Home builders are gung-ho again thanks to dramatically lower mortgage rates. A survey of home-builder sentiment surged to a 20-month high of 71 in October from 68 in the prior month, the National Association of Home Builders reported earlier this month. Readings over 50 are a sign confidence is improving. Just 10 months ago, the […]
Tariffs Behind Rising Remodel Costs
Those wanting to spruce up a home may need to add more money to their budget. Builders and contractors are warning that new tariffs on Chinese goods will add $2.5 billion in added costs to the home remodeling industry, and those extra costs will be passed on to customers. NAR’s 2019 Remodeling Impact Report Tariff […]
Tariffs Impact Builder Confidence
“Builders are optimistic about housing market conditions as consumer demand continues to grow,” said the National Assn. of Home Builders (NAHB) Chairman Randy Noel, a custom home builder from LaPlace, LA. “However, builders are increasingly concerned that tariffs placed on Canadian lumber and other imported products are hurting housing affordability. Record-high lumber prices have added […]
New Single-Family Home Size Continues Down Trend
After increasing and leveling off in recent years, new single-family home size continued along a general trend of decreasing size during the start of 2017. This change marks a reversal of the trend that had been in place as builders focused on the higher end of the market during the recovery. As the entry-level market expands, […]
2016 Closes With New Home Sales Up
Sales of newly built, single-family homes rose 5.2 percent in November, according to the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. “New home sales showed growing strength in 2016 and builders expect more of the same next year,” said Ed Brady, chairman of the National Association of Home Builders (NAHB). […]
CVAR At A Glance – February 29
Featured Classes and Events March 3 | Free MLS Forum – Let Your Opinions Be Heard March 4 | Free Cloud Stream Training March 7 | Free CRMLS Training – Mobile Solutions and More! March 8 | Deliver the WOW factor to Clients – Free Lunch & Learn Real Estate REvive Returns! It’s a real […]
Top Community Features for Baby Boomers
Realtor.org | February 23, 2016 While many in the real estate industry are focused on the wants and needs of millennial buyers, older generations of home buyers still have a lot of purchasing power. Baby boomers actually make up 31 percent of the home buying population, and real estate pros need to be familiar with […]