Atlanta Housing and the City of Atlanta plan to leverage the grant into more than $500 million for the rejuvenation of the site of the former public housing project and the surrounding area.
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The drop in the pace of new-home construction follows a significant surge the month before, according to government statistics.
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The larger-than-expected increase comes as homebuilder sentiment rose for the sixth month in a row.
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At the same time, the median sales price of a new house slid to $471,200 from $484,700 in October and $430,300 a year earlier, the U.S. Census Bureau and the U.S. Department of Housing and Urban Development reported.
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New-home permits fell 11.2% month over month, while housing completions jumped 10.8% in what one observer said could have “worrisome” long-term consequences for the nation’s housing supply.
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The number of homes under construction rose during the month, as homebuilders continued to work through a large backlog of homes.
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The pace of new multifamily construction, however, jumped, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development.
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The rate of new single-family home sales fell 16.6% from March’s revised number, while the median sales price jumped to $450,600 from March’s revised median house price of $435,000.
The post New residential sales fall in April as home prices, mortgage rates continue to climb appeared first on Atlanta Agent Magazine.
“Builders are responding to higher mortgage rates and are chasing rising rents, with fewer homebuyers and more renters being forced to renew their leases.” — NAR Chief Economist Lawrence Yun
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The U.S. Department of Housing and Urban Development has released its first Equity Action Plan, with the goal of narrowing the racial homeownership gap.
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