Should You Buy an Existing Home or New Construction?

Keeping Current Matters

With so few homes for sale and construction of newly built homes ramping up , you may be wondering if you should consider new construction in your search process. New Construction . When buying a new home, you can often choose more energy-efficient options.

Buying a New Construction Home

American Lifestyle

The post Buying a New Construction Home appeared first on American Lifestyle Magazine. Buying & Selling Finance Financial Advice Home Advice Home Buying Home Loan Real Estate Real Estate Agent Refinancing

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New Construction Offers Opportunity

The Living Room

For some of my clients, it has caused them to reframe their goals for purchasing a home, and some have begun to look for new construction in the various new communities that are popping up outside of Portland.

10 Steps for Navigating the New Construction Home Buying Process

HomeLight

The average cost of building a new house can range between $165,563 and $474,977 , and it could save you up to 15% in comparison to buying an existing home — but what do you know about the new construction homebuying process? Have you weighed all the pros and cons of buying new?

Sales of New-Construction Homes Rebound to Pre-Coronavirus Levels, Rising 10% in July

Redfin

A surge in homebuilding before the pandemic is now driving growth in new-home sales. Meanwhile, the supply of new-construction homes for sale slid 28.4%, representing the largest drop since at least 2013, when Redfin began recording this data.

New Construction and Developments Heat Up in South Florida

Coldwell Banker

The post New Construction and Developments Heat Up in South Florida appeared first on Coldwell Banker Blue Matter.

Real estate startup takes aim at new construction market

Inman

Select Technology Alec Hartman DigitalOcean Global Founders Capital new constrcution welcomeWelcome raised $5.35 million in seed funding and is founded by the team behind DigitalOcean, a unicorn cloud infrastructure provider.

New-Construction Home Listings Drop 4% in August, Reversing Course From July’s Rebound

Redfin

The new-homes market is recovering—with sales on the rise—but hurdles including a lumber shortage are still hampering builders. New listings of newly-built homes dropped 4.1% Meanwhile, new listings of existing homes grew 5.2%. There’s plenty of demand for new homes, but builders are facing a unique and costly set of hurdles as they attempt to satisfy that demand,” said Redfin chief economist Daryl Fairweather.

What to Look For in New-Construction Homes: These 5 Crucial Aspects Should Be on Your Radar

Realtor.com

fstop123/Getty Images Few things are as exciting as purchasing a newly constructed home. However, just because a house is new doesn’t mean it’s free of flaws. There are a lot of factors that could make a brand-new home a less than ideal purchase.

Zillow launches consumer-generated builder review feature

Housing Wire

Buyer-generated content, including consumer reviews of builders, is now available on Zillow and will be viewable on builder profiles, community pages and paid new construction listings.

September single-family housing starts reached highest level since 2007

Housing Wire

Single-family housing starts soared in September, a new report from the U.S. Builders are gearing up for an even faster pace in the months ahead, which is welcome news for households wanting to buy a new home,” Fratantoni said.

The #1 Reason Not to Wait to List Your House for Sale

Keeping Current Matters

Below is a graph of existing inventory (September numbers are not yet available): Homebuilders are increasing construction, but they cannot keep up with the high demand. For Sellers Housing Market Updates New Construction Pricing

Sales 244

Home Builder Confidence Hits All-Time Record

Keeping Current Matters

The index gauges builder perceptions of current single-family home sales and sale expectations for the next six months, as well as the traffic of prospective buyers of new homes. million unit rate, meaning newly constructed homes are on the rise.

New Construction Timeline Slips Completion of Gowanus Tank and Head House Project to 2032

Brownstoner

City environmental execs are now estimating that construction of a massive tank and filtration facility designed to help keep the noxious Gowanus Canal clean after its federal scrub won’t be completed until the end of 2032, according to government emails and letters obtained by Brooklyn Paper.

Multifamily confidence increased in second quarter, but vacancies also rose

Housing Wire

A new report from the National Association of Home Builders shows confidence in the market for new multifamily housing increased in the second quarter but still remains weak.

Zillow launches reviews and ratings service for homebuilders

Inman

Zillow announced Wednesday that it's rolling out a new feature that will allow consumers to rate and review the companies that built their new construction homes.

Will low inventory plus high demand snowball this winter?

Inman

Agent Analysis Brokerage Markets & Economy Select Service Chris Drayer construction COVID-19 High demand home sales housing inventory housing shortage housing supply market markets new construction real estate renters single-family residential listings

Greater Vancouver New Home Inventory Jumps 40%, But Only 31 Units Sell

Better Dwelling

Greater Vancouver new home sales are still unusually soft. MLA Canada data shows pre-sales for new homes fell in July. The decline slowed new inventory launches, with over half of expected units delayed. Even with the delays, there was a significant increase in new inventory.

Sales 90

Lot Values Down in 2019

Eye on Housing

According to NAHB’s analysis of the Census Bureau’s Survey of Construction (SOC) data, median single-family lot prices came down in 2019, breaking their relentless climb for the first time since 2013.

Spurred by builder confidence, housing starts rally in September

Inman

Analysis Data Markets & Economy Select builder confidence coronavirus pandemic George Ratiu housing starts low inventory new construction new single family homes realtor.com U.S. Privately owned housing starts rose to a seasonally adjusted annual rate of 1.41 million, up 1.9

Toronto New Home Sales Drop Over 40%, But 905 Demand Surges Higher

Better Dwelling

Greater Toronto new home sales are on fire, everywhere but in the actual city. Data from Altus Group and BILD GTA shows new home sales had the biggest July in over a decade. In the City of Toronto, new home sales have dropped by […].

Sales 80

Builder confidence matches all-time high from ’98

Inman

Analysis Data Markets & Economy builder confidence coronavirus pandemic nahb nahb/wells fargo housing market index new construction sales Robert Dietz single family housing starts suburban boom

Greater Vancouver Condo Pre-Sales Cut In Half, New Inventory Delayed

Better Dwelling

The pandemic drove Greater Vancouver new home sales off a cliff, but things have improved… a little. The post Greater Vancouver Condo Pre-Sales Cut In Half, New Inventory Delayed appeared first on Better Dwelling.

Sales 71

Greater Toronto New Home Sales Fall To Lowest Level In Over A Decade

Better Dwelling

Greater Toronto new home buyers are holding back, especially when it comes to condo apartments. Altus Group data shows prices increased in June, with new condos hitting a all-time high. Fewer than one in five new homes were sold last month, […].

Sales 72

Housing Starts Surge 22.6% in July

RIS Media

New construction for both single-family and multifamily units ramped up sizably in July, up 23% from one year ago and almost matching pre-pandemic activity in the first quarter. But new home construction is not rising in the West region where the inventory shortage is most acute.

Increased demand for single-family rentals could lead to 10 years of undersupply

Inman

About 6 percent of new single-family homes are built for the purpose of being rented out, which would yield roughly 700,000 new single-family units being constructed over the next 10 years, a number well short of current demand, according to RCLCO Real Estate Advisors.

Demand for Houses Boosts Home Construction

Realtor.com

George Frey/Bloomberg via Getty Images A surge in home-buying demand and limited inventory for existing homes is spurring construction to help fill the gap. New single-family-home sales rose 13.9% In comparison, the new-home market had 4.0

Agent-Builder Partnership: 3 Tips That Real Estate Professionals Need to Know

McKissock

A partnership with a home builder opens up a new channel for you to advertise your listings. Handle.com also provides funding for construction businesses in the form of invoice factoring, material supply trade credit, and mechanics lien purchasing.

How Much Can You Negotiate Off a New Build House? Here’s the Truth

HomeLight

There are many great reasons to buy a new-build home — for example, the ability to customize the home to your liking. For some buyers, the unknown cost of a new-build home can be intimidating. So just how much can you negotiate off a new-build house? Consider existing new homes.

How to Find (And Qualify For) a Build Your Own House Program

HomeLight

Still, some areas may use conventional loans to provide construction and permanent loans to the participants. Buyers House Hunting New Constructions Uncategorized

Thinking of Moving? [INFOGRAPHIC]

Keeping Current Matters

If you’re ready to sell your house but you’re worried about finding one to move into, why not invest in a brand-new home built just for you? New construction is on the rise, so it’s a great time to think about a custom home to fit your family’s changing needs. Some Highlights.

$14M mansion is the Florida Panhandle’s priciest new build sale

Inman

Just a few months after being put on the market, a home inspired by the white houses of Santorini has sold for $14 million, setting a record for the most expensive new construction home to sell in the Florida panhandle.

July’s new housing activity jumps back up amid increased demand

Housing Wire

Last month, Buildfax estimated if single-family authorizations and existing housing activity continue to gain, new construction could stabilize in the Fall. The post July’s new housing activity jumps back up amid increased demand appeared first on HousingWire.

First Time Home Buyer Appraisal Lessons

The Living Room

Flo had a bit of a set back when the lender’s appraisal for her loan approval on a new construction home in Hillsboro, came back at a lower value than what she had agreed to pay for the property. Most importantly, the home is in terrific, like-new condition!

Is 2021 a good time to buy a house?

Housing Wire

Housing starts are expected to increase steadily in 2021, meaning more new construction properties should hit the market as we head into the year. Both Fannie Mae and MBA predict the stronger single-family construction than we’ve seen in at least two years.