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As the lock-in effect eases, the market for new homes is shrinking

Housing Wire

NAR data shows that the annualized rate of existing-home sales dropped 1% from August to September, landing at 3.84 New construction inventory has grown in recent months. Homebuilders have ramped up incentives — like mortgage rate buydowns and cash rebates — to boost sales, and new-home sales rose 6.3% million units.

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The Southern housing markets poised to become boomtowns

Housing Wire

in new construction, 7.2% in land use change, 0.8% in builder/developer land, 4% in recent build and 1.1% The fires are also projected to slow construction growth as the area starts the rebuilding process. The top three metros are Lakeland, Florida. Austin, Texas, and Raleigh, North Carolina. in recent permits.

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New construction vs. resale homes: How agents can guide buyers in today’s market

Housing Wire

With high prices and still stiff competition, those looking to buy a home in today’s real estate market need to consider every opportunity, including the choice between new construction or a resale home. Census Bureau, the median sale price of a new construction home in March 2024 was $430,700.

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Kiavi lands another $300M in its latest RTL securitization

Housing Wire

This move follows Kiavi’s recent expansion announcement , in which it shared plans to offer its products in 13 new states. It also launched a new construction financing product for builders. As the 21st transaction made under the company’s LHOME Mortgage Trust, Kiavi’s total volume of notes offered sits at $5.8

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Southern construction boom is aiding housing affordability

Housing Wire

But increased activity in residential construction , particularly in the South, is helping to alleviate affordability challenges in certain regions, according to ananalysis from First American Financial Corp. This construction boom is contributing to slower home-price appreciation and, in some cases, price declines. Census Bureau data.

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The homebuilding space consolidates after strong results in 2023

Housing Wire

New construction accounted for approximately 30% of active for-sale housing inventory, doubling the usual figures for a standard year. They also boast advantageous relationships with land sellers and can command lower costs of debt. Meanwhile, prominent Japanese builder Sekisui House announced plans to acquire M.D.C.

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Biden unveils housing proposal that includes nationwide cap on rent increases

Housing Wire

Biden’s new plan would cap annual rent hikes at 5% for two years for landlords who manage 50 or more rental units, which the administration said would cover 20 million units, or roughly half of all rental units in the country. Exemptions would be provided to new construction and units with “substantial” renovation and rehabilitation.