Understand and master new construction to grow your business
Inman
SEPTEMBER 5, 2023
Unlock new opportunities in a low inventory market when you dig into the new construction segment of the residential market.
Livabl portal aims to build up new construction market
Inman
APRIL 21, 2023
Zonda, a technology company that leverages extensive data resources to deliver enterprise software to commercial homebuilders, has released a front-end system for finding new-construction homes. The website is called Livabl.
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What Isn’t Included with a New Construction Home?
Realty Biz
MARCH 4, 2024
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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Midwest housing markets good for first-time homebuyers: Zillow
Housing Wire
APRIL 5, 2024
Against that backdrop, Zillow identified prime markets for first-time homebuyers , and half of them were nestled in the Midwest. The increase in new listings this spring, due both to new construction and to more homeowners choosing to sell, will give buyers more options and help to ease price growth.
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High Mortgage Rates Impact New Construction: Builders Pull Back
Marco Santarelli
APRIL 17, 2024
New home construction experienced a significant setback in March , marked by a notable decline in activity across various regions, especially in the Northeast. 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.
New Constructions Tumble, Surprising Analysts
RIS Media
JULY 19, 2023
One month after the biggest surge in housing starts in the last couple years, new constructions fell sharply, disappointing analysts and blunting hopes of a long-term rally by builders. Starts fell 8% in June, after rising over 21% in May, with new permits down 3.7%
UWM rolls out construction-to-permanent loans
Housing Wire
FEBRUARY 1, 2023
Michigan-based lender United Wholesale Mortgage (UWM) has introduced a construction-to-permanent loan that covers the cost of building a home and then converts to a permanent mortgage once construction is complete. The loan will cover an 11-month maximum build period with a one-month modification.
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New Construction Rebounds With 3.9% Jump in July
RIS Media
AUGUST 16, 2023
After a surprising decline in housing starts that perplexed pundits earlier in the summer, new construction ticked up last month, according to the latest new residential construction data from the U.S. Buoyed… The post New Construction Rebounds With 3.9% Census Bureau. Total housing starts enjoyed a 3.9%
Construction worker shortage has reached “crisis” levels
Housing Wire
NOVEMBER 4, 2021
For career switchers looking for a new path that doesn’t necessarily require a college degree, they could do worse than the building trades. million new hires for construction. Since the last housing bubble burst, when more than a million residential construction workers lost their jobs , a shortage has developed.
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US housing market is now worth a record $52 trillion: Zillow
Housing Wire
SEPTEMBER 27, 2023
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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Zillow and Redfin Partner to Share New-Construction Listings
RIS Media
AUGUST 2, 2023
As they prepare to release their second quarter earnings reports, Zillow and Redfin announced a partnership to connect home builders with buyers in the market.
New Construction Up Again, With a Boom Out West
RIS Media
MAY 17, 2023
1 issue in many regions and prices largely remaining resilient, homebuilders appear poised to add some much needed new homes to the market, with data showing another uptick in housing starts last month. With inventory back to being the No.
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Buying New Construction Homes: What You Need to Know
Realty Biz
AUGUST 5, 2023
Buying a new construction home has its pros and cons. As the first owner, you'll enjoy the peace of mind of owning a brand-new property. New homes often require fewer repairs and updates since everything is up to date-and in good condition. Different types of new homes can be less expensive.
Could New Construction Help Level Out the Market?
RIS Media
AUGUST 2, 2021
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. Falling Lumber Costs Could Level Out the Market. Will the result take immediate effect?
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Why Purchasing New Construction Can Be a Smart Move for First-Time Homebuyers
Realtor.com
JANUARY 11, 2023
Getty Images Many first-time homebuyers might presume they’re better off going used rather than new—in other words, purchasing a pre-existing property rather than pricey new construction. Unless you want to be waiting a long time to buy your first home, you should consider new-construction homes.
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7 Smart Ways To Lower the Cost of Buying a New-Construction Home
Realtor.com
NOVEMBER 17, 2022
Compare that with a preexisting home’s median price of $396,300 , and it’s clear that buying brand-new might set you back tens of thousands of dollars extra. But homebuyers should also know that they can lower the costs of new construction right when they make the purchase through some smart negotiation tactics.
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Zonda announces major business acquisition
Housing Wire
FEBRUARY 21, 2024
By extension, Zonda also acquired NewHomeSource.com , one of the largest listings platforms for newly constructed homes, and Envision , a new home design platform. The acquisition marks a milestone in Zonda’s path to streamlining the new home shopping process. new home listings.
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6 Tips for Appraising New Construction Homes
McKissock
MAY 6, 2022
New construction is treated a little differently by lenders, FHA, and the GSEs. When appraising new construction homes, you must take into consideration certain features and attributes that don’t necessarily apply to re-sales. It requires more work, so you want to be sure that you are charging for your effort.
The Advantages And Disadvantages Of New Construction Homes
Realty Biz
NOVEMBER 8, 2022
New construction homes are becoming increasingly popular. They offer many advantages, such as the ability to customize your home to your specific needs and wants, and the peace of mind that comes with knowing your home is brand new. It’s important to do your research before picking the new construction home you want to be in.
Standard Features vs. Upgrades in a New-Construction Home: What’s the Difference?
Realtor.com
JANUARY 17, 2023
Getty Images One of the reasons many homebuyers are drawn to buying a brand-new home is that they often get to choose many of the home’s features to suit their tastes. But with new construction, you can call the shots on countertops, fixtures, flooring, paint colors, and so much more to make your home feel like, well, you!
New home sales continue to climb in 2023
Housing Wire
FEBRUARY 24, 2023
The uptick in the sales pace resulted in just 439,000 new homes remaining on the market at the end of the month, representing 7.9 The backlog of new construction homes continues to emerge into the market just in time for the spring shopping season,” Nicole Bachaud, Zillow ’s senior economist, said in a statement.
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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
JULY 26, 2023
“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.
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New Construction Pros and Cons: Advantages and Disadvantages
Louisville Homes
DECEMBER 21, 2021
On a regular basis, acquiring good quality construction materials, visiting the construction site, and negotiating with the labor force, laborers, and painters is a physically challenging activity. In this piece, we’ll look at new construction pros and cons. Customization Is Amazing. Limited Options.
New Year, New Home? 9 Myths About Buying a New-Construction House That Actually Aren’t True
Realtor.com
JANUARY 2, 2023
Getty Images Many first-time homebuyers might shy away from the prospect of buying a brand-new home, assuming: It will cost too much. While purchasing new construction is indeed different from purchasing previously owned property, many misconceptions abound about new builds. New construction homes are more expensive.
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Hover brings 3D digital twins to new construction projects
Realty Biz
AUGUST 14, 2022
The company said contractors on new constructions will be able to make use of its entire solution, which generates 3D models and exterior measurements, using blueprints of designs. In other words, it now supports both existing homes (through smartphone photos) and new constructions.
Is a New Construction Home Inspection Needed?
Maximum Exposure Real Estate
JANUARY 24, 2022
Should You Hire a Home Inspector For a New House? Should you get a new construction home inspection? The post Is a New Construction Home Inspection Needed? When you buy an existing home, a home inspection isn’t a difficult decision. But if you are buying […].
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Opinion: will we see massive price drops in new construction?
Real Trends
MARCH 29, 2023
Builders responded in kind, gearing up the development of new homes to meet the growing demand. There was one problem, we were already at a new home deficit, making the new home market incredibly competitive. New homes began to linger on the market. The new homes on the market today are top-of-the-line.
Opinion: The “profitless boom” in residential construction
Housing Wire
FEBRUARY 22, 2022
The residential construction industry is facing a crisis as builders manage the critical shortage of building materials and labor. Tye Alroe, director of Alroe Constructions , was recently let down by a subcontractor who pulled out of a job at the last minute. “I Enter into contracts that are malleable to market prices.
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Multifamily Construction Decreases, but Completions Rise This Year
RIS Media
FEBRUARY 15, 2024
A Yardi Matrix Multifamily Supply Forecast update predicts that the company’s Q4 2023 report is still on course: new construction has eased, the under-construction pipeline is vigorous and elevated deliveries are expected for the remainder of 2024 and 2025. Multifamily markets tracked by Yardi in Q1 indicated 1.25
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The current REO market requires an expansion of services for business growth
Housing Wire
FEBRUARY 22, 2024
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.
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Why You Need a Realtor to Buy New Construction
Realty Biz
APRIL 12, 2023
Buying a new construction home involves a different process than buying an existing home, and some people wonder if they need a real estate agent at all to buy one. While you technically do not need a realtor to represent you when you buy a new construction home, there are a few reasons it would be in your best interest to do so.
Homes in Boise, Idaho are “flying off the market”
Housing Wire
DECEMBER 3, 2020
1 midsized housing market to watch in 2020 , according to Zillow, because of its draw for young professionals, families, and retirees alike. The demand is clear — the Boise housing market has just 0.3 months worth of supply, according to Keller Williams Realty Boise , and homes typically stay on the market for just five days.
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Benefits of Investing in New Construction Real Estate
Norada Real Estate
JANUARY 27, 2023
When it comes to investing in residential real estate, there are only two basic types of property you can invest in – new construction and resale. New construction properties are those that are purchased directly from the builder or developer who constructed the property. In short, they are considered brand new.
Coastal California metros were the priciest in March: Zillow
Housing Wire
APRIL 15, 2024
Competition in the housing market is heating up heading into May and June. metros, with coastal California cities and Seattle leading the charge in monthly home value growth, according to Zillow’s newest market report. properties are spending minimal time on the market. Home prices are surging in major U.S.
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Canadian Existing Home Prices Are Rising Twice As Fast As New Construction
Better Dwelling
AUGUST 7, 2021
Statistics Canada (Stat Can) data shows large advances in the Big Six real estate markets in Q2 2021. Both new and existing home prices increased very quickly. However, existing home prices grew at twice the rate of new homes. Canada’s Big […].
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Opinion: The ripple effect on the U.S. housing market from China’s real estate crisis
Housing Wire
OCTOBER 5, 2023
The real estate market in China, both commercial and residential, have been unwinding over the last few years. Chinese real estate investments extend beyond their borders and if those investors suddenly need to liquidate those assets to cover losses at home , many countries real estate markets could be negatively impacted. In the U.S.,
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Rent growth shows little fluctuation in January: Redfin
Housing Wire
FEBRUARY 12, 2024
An abundance of new apartments recently hit the market, giving renters more options to choose from. Meanwhile, more apartments are under construction. The Midwest and the Northeast offered the most growth in rents because there has not been as much new construction in these regions. to 17.7%, Redfin reported.
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Housing Market Decoded: Where is inventory headed? What housing starts reveal
Real Estate News
SEPTEMBER 2, 2023
New construction homes and multifamily housing are on different tracks. Here’s why that matters, and what’s coming in the next year.
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LenderPulse Q4 2023 survey: Mortgage pros still see opportunities in the housing market
Housing Wire
SEPTEMBER 27, 2023
Despite mass layoffs in the wake of the Federal Reserve’s fight against inflation, mortgage professionals still see opportunities in the market. Others allocated resources into digital marketing (31.1%), automation technology (26.7%) and market data (19.3%). Home price gains hit a new high , rising 0.6%
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Mortgage rates continue trending down before Christmas
Housing Wire
DECEMBER 21, 2023
21, according to Freddie Mac ‘s Primary Mortgage Market Survey. Lower rates are bringing potential homebuyers who were previously waiting on the sidelines back into the market and builders already are starting to feel the positive effects,” Sam Khater, Freddie Mac’s chief economist, said in a statement. “A
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Housing Markets That Have Fully Recovered From the Pandemic
Marco Santarelli
APRIL 6, 2024
The tumultuous wave of the COVID-19 pandemic swept across the housing market landscape, leaving in its wake a trail of unprecedented shifts. However, amidst this flux, there are pockets of resilience—housing markets that have not only weathered the storm but have emerged stronger, with inventory levels surpassing pre-pandemic benchmarks.
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‘We Bought a House That Hadn’t Been Built Yet’: New Construction May Be the Key To Succeed in Today’s Hot Market
Realtor.com
JUNE 24, 2021
In this latest installment of our new series, “ First-Time Homebuyer Confessions ,” we spoke with Nicole Krouse (who happens to be director of marketing at Realtor.com ). Nicole and Pat, however, were able to buy their house for just over half that sum by choosing new construction. So we thought, “Why not?”
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Proprietary Capital completes acquisition of AFR, hires new COO
Housing Wire
FEBRUARY 12, 2024
residential mortgage market and housing-related assets. In AFR, it’s adding the New Jersey-based, full-service independent mortgage bank that has direct, wholesale and correspondent lending divisions. It also has a niche in construction and manufactured home loan programs.
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New Construction and Developments Heat Up in South Florida
Coldwell Banker
AUGUST 3, 2020
South Florida’s real estate market continues to see a slow but steady recovery during the current coronavirus pandemic that changed the way day-to-day real estate business nationwide is conducted, from showing properties to prospective buyers, to the closing process and more.
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