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

Housing Wire

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% But the increase in sales means that inventory levels will start to decline as fewer new homes are being built. million units.

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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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New apartment construction hasn’t lowered rents in many areas

Housing Wire

More inventory can bring down prices, but some renters still struggle to meet the rental price hikes found in new construction. increase in asking rents for newly constructed apartments in 2024 the biggest spike in 18 months. Rent prices have fluctuated alongside home prices in this year’s housing market.

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Home sellers who didn’t list on the MLS lost $1B in sale proceeds: Zillow

Housing Wire

It excludes new construction homes , foreclosure sales, auction sales, non-arms-length transactions, bank/corporate/government acquisitions, invalid quit claims and outlier sale prices (defined as below $10,000 or above $10 million). The study also found that these losses were deepest in communities of color.

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Tom Davis shares non-QM opportunities to capitalize heading into 2025

Housing Wire

In this HousingWire Executive Conversation, Tom Davis, Chief Sales Officer at Deephaven , discusses the opportunities in the non-QM investor loan space as we head into the new year. Davis also highlights Deephaven’s edge in products like their Ground-Up Construction and Fix-and-Flip products, offering originators essential tools and training.

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The Southern housing markets poised to become boomtowns

Housing Wire

in new construction, 7.2% The fires are also projected to slow construction growth as the area starts the rebuilding process. Places poised for growth but not at the top of the list include Albuquerque, New Mexico, and Madison and Milwaukee Wisconsin, which have all seen recent land use changes. at the top of their list.

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Midwest, Northeast housing markets stay hot amid national cooldown

Housing Wire

Rich Bradford, broker associate with The Bradford Team at RE/MAX One Realty in Haddonfield, New Jersey, said the results for his local market could be even better if so many potential sellers werent locked in by low mortgage rates. In the most in-demand markets, homes sold in 33 to 51 days, significantly below the national median of 66 days.

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