Welcome to our comprehensive coverage of today’s real estate news, where we delve into the latest developments and challenges shaping the housing market. From fluctuating home prices and financing hurdles to construction projects and market predictions, explore how these factors are influencing buyers, builders, and communities across various regions. Whether you’re a first-time homebuyer, a seasoned investor, or simply keeping an eye on market trends, our detailed reports provide valuable insights to help you navigate the complexities of the real estate world. Stay informed with our expert analysis and make well-informed decisions in your real estate endeavors.
Housing Market Predictions For 2024: When Will Home Prices Be Affordable Again? – Forbes Advisor
The housing market might finally be entering a transitional phase. Summer sales have been tepid thus far, but there are signs that activity could heat up by the end of the summer as mortgage rates edge down and much-needed resale inventory continues to enter the market, giving buyers more options. Other good news for home shoppers is the ongoing decline in the median price for a new home—now below the median resale home price—even as builders continue offering buyer incentives.
UPDATE: Oxbow couple describes ‘nightmare’ in building new home, Spire responds
A couple in Oxbow, North Dakota, shares their frustrating experience of building their dream home, which has been plagued with numerous issues. The home still has 37 unfinished or poorly done projects, including dented siding, crooked walls, and unfinished trim. The couple had to deal with incorrect installations, flooding, and even arrests of workers on their property. They have taken legal action and are advocating for others to learn from their story. Spire Custom Homes, the builder, has provided little to no communication regarding the complaints. Read more to discover the ongoing situation.
AD&C Financing Survey | NAHB
The availability of financing for acquisition, development, and construction (AD&C) projects has continued to tighten in the second quarter of 2024, according to NAHB’s quarterly survey. The survey reveals that credit has become more expensive for most types of loans, marking the tenth consecutive quarter of AD&C credit tightening. The survey also highlights the various forms of credit tightening reported by builders and developers. To learn more about the survey results and stay updated on key developments in the housing industry, click the link below.
Housing and construction projects in Santa Cruz County – Santa Cruz Local
Stay up to date on major housing and construction projects in Santa Cruz County. Explore the latest developments and find out how to make your voice heard. The website provides information on major water and highway projects as well. Discover the ongoing projects shaping the community.
Kiplinger Housing Outlook: Home Price Growth Slows | Kiplinger
Home prices reached an all-time high in May but showed a slight slowdown in growth compared to the previous month. The limited supply of homes for sale continues to support price appreciation, although low housing affordability is impacting the pace of gains. Single-family construction is slowing down, while multifamily starts have seen a significant increase. New-home sales and existing-home sales have both declined, primarily due to higher mortgage rates and affordability concerns. Stay informed about the latest trends and forecasts in the housing market by clicking the link below.
Interest rates, builder costs weighing on housing availability | News, Sports, Jobs – The Journal
Realtors and home builders in the New Ulm area are facing challenges due to a shortage of available houses and rising interest rates. Affordable homes are in high demand, with listings being quickly snatched up within 24 to 48 hours. The interest rates and construction costs have contributed to the slowdown in single-family construction. However, there is hope for increased housing availability in the future as more rental options become available and interest rates potentially decrease. To learn more about the impact of interest rates and builder costs on housing availability, click the link below.