The historically low level of inventory for sale suggests that any rate-related increase in sales will be muted due to the inadequacy of listings needed to fulfill higher buyer demand. This softer sales response also suggests more upward pressure on pr… Continue reading
Economists at Fannie Mae are again sounding warnings that rising rents and record home price appreciation could contribute to long-lasting inflation that leads to earlier, more aggressive tightening by the Federal Reserve. Continue reading
New home sales are still up 9.2 percent year over year but have been falling since March, likely as a result of high home prices due to the rising cost of construction materials like lumber. Continue reading
As listing shortages and supply constraints on homebuilders drive up prices, risk of inflation grows, economists with Fannie Mae said. Continue reading
HomesUSA.com says that Caballero sold 6,438 homes worth more than $2.46 billion in 2020 — 637 more homes than his second Guinness World Record. Continue reading
The decline follows a record month for new-home sales, when they hit a 15-year high of more than 1 million in March, according to new data from the US Census Bureau. Continue reading
Lawrence Yun, chief economist for NAR, reports that the GDP is back to its pre-pandemic peak, consumers are ready to spend their stimulus checks and single-family housing starts are ramping up. Continue reading
The battle between supply and demand has hit the lumber industry hard, as mills struggle to keep up with demand and homebuilders push the costs to buyers. Continue reading
February’s seasonally adjusted annual rate of 775,000 was down 18.2 percent from January’s revised rate of 948,000. Continue reading
New, single-family home sales decreased by 4.4 percent to a seasonally adjusted annual rate of 765,000 from January to February. Continue reading