Shift in Pricing Puts New Builds Within Reach
The gap between new builds and existing homes has narrowed, presenting an opportunity for real estate agents and buyers to navigate a tough affordability environment.
The gap between new builds and existing homes has narrowed, presenting an opportunity for real estate agents and buyers to navigate a tough affordability environment.
Modular, 3D-printed and prefab homes are growing in popularity as rebuilding options after disasters despite image and transportation hurdles.
Mortgage rates dipped to 6.86% as listings rose 32% year over year. With more homes for sale and stable prices, buyers are gaining leverage in markets nationwide.
Freestanding cabinets, hutches, and vintage pieces offer stylish, flexible storage at lower costs, as interest grows in “unfitted” kitchens and resale finds.
Federal Reserve officials expect inflation to rise but still anticipate two interest rate cuts by the year’s end. Interest rates impact mortgage rates.
Rates on 30-year mortgages fell to 6.81% from 6.84% last week, while 15-year mortgage rates eased to 5.96% from 5.97%, mortgage buyer Freddie Mac said.
Housing starts fell 9.8% in May, driven by a sharp drop in multifamily construction, while single-family starts were mostly flat amid ongoing market pressures.
New home purchase mortgage applications fell 4.5% year-over-year in May, with estimated sales down 12.1% from April, the MBA said.
Before you start house hunting, use tools and formulas to estimate how much house you can afford.
Simple furniture swaps, like a new chair, bench or coffee table, can refresh a home for summer guests and gatherings with no renovations needed.