The number of available lots for new homes has decreased compared to the previous year.
According to the most recent New Home Lot Supply report from Zonda, in Q1 2024, there was a tightening of lot supply year-over-year across the U.S. The report notes that lot inventory remains “significantly undersupplied” in most markets, and this trend reflects the increased construction activity in recent quarters. Ali Wolf, the chief economist at […]
Housing’s Contribution to GDP Exceeds 16% for the First Time Since 2022
According to the NAHB’s Eye on Housing, the housing sector’s contribution to the economy reached 16.1% in the first quarter of 2024, exceeding 16% for the first time since 2022. This increase in housing’s share of GDP is attributed to residential fixed investment (RFI) and housing services. RFI includes home building, multifamily development, and remodeling, […]
FHFA reports that home prices have increased by 6.3% compared to last year.
The most recent Federal Housing Finance Agency’s House Price Index (HPI) report shows a 6.3% increase in home prices between January 2023 and January 2024. Additionally, the seasonally adjusted monthly index for January rose by 0.1% from December. The FHFA HPI is a comprehensive collection of house price indexes that track changes in single-family home […]
Despite profits continuing to rise, the activity of flipping has seen a decline.
The latest U.S. Home Flipping Report from ATTOM reveals that in Q3, 2023, a total of 72,543 single-family houses and condominiums were flipped, accounting for 7.2% of all home sales during that period. ATTOM also reports that investor returns have been increasing for the past three quarters, with margins and raw profits reaching their highest […]
More Couples are Using Wedding Registries for Help Buying First Home
According to a recent analysis from Zillow, more couples are using wedding registries to seek financial assistance in purchasing their first home. The data reveals that the number of couples including “home funds” in their wedding registry has increased by 55%. Approximately 20% of couples registered on The Knot, a popular bridal registry site, are […]
The Federal Housing Finance Agency (FHFA) has reported a 5.6% increase in home prices over the past year, according to Real Estate Investing Today.
According to the latest House Price Index (HPI) released by the Federal Housing Finance Agency (FHFA), home prices witnessed a 0.6% increase in August 2023. The report further states that prices have risen by 5.6% from August 2022 to August 2023. The FHFA HPI is a comprehensive collection of house price indexes that track changes […]
September saw a 1.1% increase in pending home sales – Real Estate Investing Today
According to the National Association of Realtors (NAR), pending home sales increased by 1.1% in September 2023. The NAR’s Pending Home Sales Index, which is based on contract signings, recorded a value of 72.6 for September. However, the NAR reports that all four regions in the United States experienced a decline in transactions compared to […]
The proportion of new home sales completed in cash increased significantly in the third quarter of 2023
According to recent analysis conducted by NAHB’s Eye on Housing, the proportion of all-cash sales in the new home market significantly increased in the third quarter of 2023, while the share of VA-backed sales declined by almost half. The report also highlights that although cash sales only make up a small portion of new home […]
In September, there was a notable increase of 12.3% in new home sales.
According to the U.S. Government, sales of new single-family houses in September 2023 reached a seasonally adjusted annual rate of 759,000, marking a 12.3% increase from the revised rate in August and a 33.9% increase from the same period last year. The median sales price for these new houses was $418,800, while the average sales […]
September saw a 2% decline in the sales of existing homes, according to authentic data.
The National Association of Realtors (NAR) has reported a 2% decline in existing home sales for September, with a seasonally-adjusted annual rate of 3.96 million. This represents a 15.4% decrease compared to the previous year. Despite a 2.7% increase in total housing inventory from August, the inventory is still 8.1% lower than a year ago, […]