Maegan Sherlock, senior research analyst for John Burns, spoke with Intel about the results of the firm’s latest household sentiment survey: “I was hoping to see a new ‘magic’ mortgage rate.” Continue reading
Phoenix, Las Vegas and other Sunbelt metro areas saw the biggest slowdowns in investor activity as high rates and low demand cooled activity nationwide, according to reports. Continue reading
Builders have seen cancellation rates spike this year as buyers now struggle to afford the homes they signed up for months ago, according to data from John Burns Real Estate Consulting. Continue reading
August numbers show spending on new single-family homes dropped to a seasonally adjusted annual rate of $436 billion, a 2.9 percent fall from July, according to U.S. Census Bureau data released Monday. Continue reading
Homebuilders are reporting shorter construction timelines and fewer supply-chain issues as they deal with a drop in demand for new houses, according to a survey of homebuilders by John Burns Real Estate Consulting. Continue reading
Builder sentiment dropped at the second-fastest pace of the last two decades as some home construction companies have begun to cut costs. Continue reading
In parts of the country, buyers are backing out of contracts for new homes at rates not seen since the shock of the pandemic first set in during March of 2020. Continue reading
Homeownership is 31 percent more expensive than renting, nationally. With demand shifting and the market for home purchases cooling, homebuilders now court investors, a report notes. Continue reading
It’s getting hairy out there for homebuilders as construction leaders report that buyers are losing interest in pricy new properties now that mortgage rates have climbed, according to a new survey. Continue reading
The price of lumber took a big dip to start the week, just the latest unexpected shift in the cost of building a new home. Continue reading