Construction on new houses fell 4.2% in October as high mortgage rates put off buyers and forced builders to scale back, a situation that’s likely to continue through 2023.
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U.S. home prices rose again in March even as higher mortgage rates began to bite, leaving prices at all-time highs.
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Sales of new homes in the U.S. fell in June to the lowest level since the first month of the U.S. coronavirus pandemic in early 2020, as high prices and a limited selection frustrated scores of would-be buyers.
The post Sales of New Homes Slump to the Lowest Level Since Start of Pandemic. High Costs and Low Selection Are to Blame appeared first on Real Estate News & Insights | realtor.com®.
Construction on new homes rose slightly in May, but high lumber prices and labor shortages have stymied builders and could leave many customers frustrated.
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Home builders are giddy about the soaring demand for new houses, but they’re not so happy about high lumber prices, labor shortages and other barriers in their way.
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The cost of buying a home surged again in October, a closely followed index showed, and prices rose at the fastest rate in six years.
The post U.S. Home Prices Surge to 6-Year High as More People Flee Cities, Case-Shiller finds appeared first on Real Estate News & Insights | realtor.com®.
The U.S. real estate market is booming, but a shortage of homes for sale is starting to bit into sales.
The post U.S. Pending Home Sales Fall 1.1% in October as Higher Prices Discourage Buyers appeared first on Real Estate News & Insights | realtor.com®.
The cost of buying a house rose sharply again in September, signaling that prospective buyers are unlikely to find better deals any time soon.
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