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Unsold homebuilder inventory is ticking up as new home sales slow

Housing Wire

Census Bureau and the Department of Housing and Urban Development ( HUD ). 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. In August, the sales pace of new homes fell 8.7%

As-is 493
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Bringing MLS Software Into the Modern, Mobile Era

GeekEstate

Its flagship MLS platform (which includes both a front-end and back-end system) is constructed from a myriad of public and private sources and s upports interoperability/integration among technology products through its API. The post Bringing MLS Software Into the Modern, Mobile Era appeared first on GeekEstate Blog.

MLS 126
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US housing market is now worth a record $52 trillion: Zillow

Housing Wire

Fueling this increase is new construction, according to Divounguy, even though the 1.3% As more first-time homebuyers are turning to new construction, builders offer smaller, more-affordable homes as well as incentives like interest rate buydowns to tempt buyers off of the fence. Over the past year, the value of the U.S.

Marketing 510
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Transform your real estate career overnight in 8 easy steps

Housing Wire

Call your MLS to set up a custom ‘daily hotsheet’ for those areas and review the report daily. Who are the developers and what are they developing? • Is there new construction in your market? Tour new construction models and get a feel for pricing on each product for each builder. Are companies hiring or firing?

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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

Census Bureau and the Department of Housing and Urban Development ( HUD ). New home sales continue to be an outsized share of the housing market ,” Lisa Sturtevant, Bright MLS’ chief economist, said in a statement. In June, the sales pace of new homes fell 2.5% compared to May , dropping to a seasonally adjusted annual rate of 697,000.

Sales 370
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Mortgage rates reach their 2023 peak

Housing Wire

In addition, builders are recognizing the demand and the opportunity it presents, and they are pushing construction activity higher – about one-third of homes on the market are new construction, more than double normal levels. jobs market remains strong with U.S. However, we have a way to go to regain balance.”

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How Are Pre-Construction Sales This Fall?

Toronto Realty Blog

What does it mean when the real estate market is slow, prices have declined, pre-construction sales and prices are even more sluggish, and yet some pre-construction condominium developers in the midtown area are currently charging up to $2,000 per square foot? ” Or maybe these developers know something I don’t.