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Unsold homebuilder inventory is ticking up as new home sales slow

Housing Wire

“Homebuilders are still benefiting from very low inventory of existing homes for sale, which has driven more buyers to consider new construction,” Bright MLS Chief Economist Lisa Sturtevant said. The seasonally‐adjusted estimate of new houses for sale at the end of August was 436,000.

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US housing market is now worth a record $52 trillion: Zillow

Housing Wire

housing market is back on track , stronger than ever, with a total estimated value of $52 trillion, according to a new analysis by Orphe Divounguy, a senior economist at Zillow Group. housing market has surged by more than $2.6 Fueling this increase is new construction, according to Divounguy, even though the 1.3%

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What Isn’t Included with a New Construction Home?

Realty Biz

Embarking on the journey of purchasing new construction, particularly a freshly constructed one, is a thrilling venture brimming with anticipation. So, What Isn’t Included with a New Construction Home? The post What Isn’t Included with a New Construction Home?

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New home sales dip 2.5% in June, but continue to be an outsized share of the housing market

Housing Wire

New home sales continue to be an outsized share of the housing market ,” Lisa Sturtevant, Bright MLS’ chief economist, said in a statement. The market for new homes is booming because the number of existing homes coming on the market has slowed to a two-decade low. from a month prior, but down 3.6% year over year.

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Could New Construction Help Level Out the Market?

RIS Media

If you’ve spent any time watching the real estate market this year or working in the field, you know we’re navigating one of the hottest seller’s markets on the books, and new construction has been an ongoing challenge. For listing agents, these rising home costs are good news. Probably not.

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The current REO market requires an expansion of services for business growth

Housing Wire

Tiffany Fletcher, VRM Mortgage Services HW: What does the current market and demand for REO assets look like? Balancing supply and demand is a delicate dance between new construction and existing properties. Balancing supply and demand is a delicate dance between new construction and existing properties.

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High Mortgage Rates Impact New Construction: Builders Pull Back

Marco Santarelli

This downturn coincided with a surge in mortgage rates, with the benchmark 30-year fixed rate loan inching close to 7%, casting a shadow over the housing market. In March, the pace of new construction witnessed a substantial slowdown, evidenced by a 14.7% decrease in housing starts compared to the previous month.