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.

Knowing new construction gives you a competitive edge — here’s why

Inman

In the meantime, studying the economy, real estate market statistics and particularly the new home construction process will make you a fierce competitor in today’s market and the future. . The inventory shortage isn’t going to last forever.

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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. Sales of newly-built homes climbed 10.1% year over year in July, recovering to pre-pandemic levels, while sales of existing homes rose just 5.3%.

New Construction Offers Opportunity

The Living Room

With the average sale price up 9% from where it was this time last year, and with inventory levels at record lows, the competitive frenzy that is the Portland Market is full of challenges for would-be buyers to overcome.

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. Sales of newly-built homes were up 8.3%

The Most Luxurious New Construction Condo Developments in the U.S. Right Now

Realty Biz

Residential construction in the U.S. Despite declines in both affordability and availability, however, the luxury new construction condo market across the country features more than a few intriguing options, starting with these high-profile developments: 1000M – Chicago, IL.

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

Keeping Current Matters

Purchaser demand is so high, the market is running out of available homes for sale. The National Association of Realtors (NAR) revealed that, while home sales are skyrocketing, the inventory of existing homes for sale is dropping dramatically.

Sales 265

Pending-home sales increase following 2 months of declines: NAR

Inman

The pending home sales index rose from the previous month in every U.S. Pending Home Sales Indexregion but the Midwest, while all regions saw gains year over year.

Sales 122

Top 4 Things to Consider When Buying a New Construction Home

The Living Room

Yes… Strong, the pull of new construction is. Buyers are willing to spend more money on brand new homes, compared to what the market generally seems to bear for very similar re-sale homes. There is just something so powerful about buying a home that is cosmetically on-trend, sparkly new, and touched only by the skilled hands of a construction worker! But, there are many factors to take into consideration when considering the purchase of a new home.

Homes in Boise, Idaho are “flying off the market”

Housing Wire

In Ada County specifically, where Boise is located, the number of homes for sale dropped from 1,697 last October to just 355 in October 2020, a 79% decline. New construction continues to take more and more of our market,” Dopp said. Boise, Idaho was the No.

Hope Is on the Horizon for Today’s Housing Shortage

Keeping Current Matters

A normal market has a 6-month supply of homes for sale. According to the Existing Home Sales Report from the National Association of Realtors (NAR): “Total housing inventory at the end of April amounted to 1.16 adjusted estimate of new houses for sale at the end of April was 316,000.

New home sales fall due to low inventory and high prices

Housing Wire

Mortgage applications for new home purchases fell 9% month-over-month in May at a seasonally unadjusted pace ? the second consecutive month sales of new homes have dropped, according to data released Thursday by the Mortgage Bankers Association.

Sales 258

Single-family housing starts reach highest level since 2007

Housing Wire

As a result of the pandemic, there has been a heightened demand for larger homes, which Kan said has driven more construction, home sales and mortgage originations. We have underbuilt new housing relative to demand for a decade.

The surge in new single-family home sales is slowing down

Inman

The sales rate of new single-family homes dropped 11 percent from October to November, according to data released Wednesday by the U.S. Markets & Economy Select census Holden Lewis home prices housing market hud markets NerdWallet new construction new home sales sales

Sales 128

Will the Housing Market Maintain Its Momentum?

Keeping Current Matters

Last week’s Existing Home Sales Report from the National Association of Realtors (NAR) shows sales have dropped by 3.7% This is the second consecutive month that sales have slumped. It shows that newly constructed home sales are up 20.7%

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.

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.

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.

Your House May Be High on the Buyer Wish List This Holiday Season

Keeping Current Matters

In many parts of the country, more new construction will also be available for sale in 2021, which will lessen the demand for your house next year. For Sellers New Construction Selling Myths Content Hub

Toronto New Home Sales Drop, As People Fleeing Turn Durham Into A Bigger Market

Better Dwelling

Greater Toronto new home sales have picked up, from usually low levels in prior years. Altus Group and BILD GTA data shows new homes sales climbed in January. One unexpected blip in the data is the City of Toronto, which actually saw a sharp decline in sales.

Sales 102

Will the Housing Market Bloom This Spring?

Keeping Current Matters

Danielle Hale, Chief Economist , realtor.com : “Despite early weakness, we expect to see new listings grow in March and April as they traditionally do heading into spring , and last year’s extraordinarily low new listings comparison point will mean year over year gains.

Greater Toronto New Home Prices Rise By Over $327,000 As Sales Surge Higher

Better Dwelling

New home listings in Greater Toronto found a lot of deep-pocketed buyers in March. BILD GTA data shows new home sales had the second-biggest March in the past 20 years. Greater Toronto New Home […].

Sales 108

Are There Going to Be More Homes to Buy This Year?

Keeping Current Matters

At a time like this when there are so few houses for sale, it’s normal to wonder if you’ll actually find one to buy. More New Homes Will Be Built. It will be the first year for which total single-family construction will exceed 1 million starts since the Great Recession.”.

Greater Toronto New Home Sales Fall 34% As Pent-Up Demand Releases

Better Dwelling

Greater Toronto new home sales cooled abruptly, as pent-up demand collapsed. BILD GTA and Altus Group data shows a sharp decline in new home sales for February. While the drop was sharp, total sales for the month were more in line with […].

Sales 113

How Much Leverage Do Today’s House Sellers Have?

Keeping Current Matters

According to the latest Existing Home Sales Report from the National Association of Realtors (NAR), sales are up 23.7% from the same time last year while the inventory of homes available for sale is down 25.7%.

Patience Is the Key to Buying a Home This Year

Keeping Current Matters

offers per sale, and that number keeps rising. It’s because there are so few houses for sale. Low inventory in the housing market isn’t new, but it’s becoming more challenging to navigate. In the meantime, construction workers deserve cheers. ”.

What Is the Strongest Tailwind to Today’s Recovering Economy?

Keeping Current Matters

Remarkably, the residential real estate market (including existing homes and new construction) has flourished over the last twelve months. Sales are up, prices are appreciating, and more new homes are being built. For Buyers For Sellers New Construction

Latest Jobs Report: What Does It Mean for You & the Housing Market?

Keeping Current Matters

Today, the biggest challenge for homebuyers is the lack of homes currently for sale. The latest jobs report gives hope for new housing construction, and therefore brings hope to buyers as well. Residential construction building jobs increased 3.9%

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.

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

Toronto New Home Inventory Reaches Highest Level Since February, Condos Sales Fall

Better Dwelling

Greater Toronto new home sales are weaker, helping to push inventory a little higher. Altus Group data shows new home sales were down in October. The drop in sales wasn’t due to weaker demand across the region though.

Sales 94

Listing Lessons: How I got a developer $50K more

Inman

Agent Brokerage Select Service Anthony West developer for sale by owner fsbo Listing Lessons new construction over asking working with developer

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 New Home Sales Jump, As Market Braces For Flood of Inventory

Better Dwelling

Greater Vancouver new home sales are on the rise, as the market gobbles up new inventory. MLA Canada data shows April was a busy month for new home inventory, with buyers absorbing more than half of units launched.

Sales 60

Home prices rapidly climbing toward $375,000

Housing Wire

National median home prices reached $370,528 for the month of April, a 22% increase year over year and a new record, according to a recent study from Redfin. The number of homes for sale also sank to a record-low average of only 19 days on the market.

Sales 386

New Homes, New Year: 11 Brand-New Homes for Sale

Realtor.com

But how about leaving your old house behind and toasting new beginnings in the new year? We’ve found 11 great homes on the market right now that are brand-new—all ready for you to move in and make a fresh start. 518 Second St, New Orleans, LA.

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. Surprisingly, this trend is driven almost exclusively by suburban home sales.

Sales 92

Meet the star dancers now selling new developments

Inman

Corcoran Sunshine's Christa Villella and Danika Dorsey discuss how their professional dance careers have helped them become better, more creative sales agents.

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. MLA Canada, a Vancouver-based real estate firm specializing in condo pre-sales, observed an increase in absorption for June.

Sales 86

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. The price increase was driven by low demand though, as sales almost completely halted.

Sales 86