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DataDigest: The pandemic housing frenzy never went away in these markets

Housing Wire

It shows about 50 people waiting in line at an open house in Mount Laurel, New Jersey. In much of suburban New Jersey, where new construction is rarer than cheap Bruce Springsteen tickets, the pandemic-era conditions never left. The house ended up having five offers and sold for $50,000 over ask.

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Mortgage rates might soar even higher

Housing Wire

Following the Fed’s decision to raise interest rates by an additional 75 basis points on Wednesday, the central bank said it will hike rates as high as 4.6% We do not see new construction returning in a meaningful way any time soon. Kurt Carlton, President of New Western. Mortgage rates have nearly doubled to around 6.5%

Mortgages 448
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Housing Market 2025: Why It’s Not 2008 Crash All Over Again

Marco Santarelli

Let's delve into the critical factors that set the 2025 housing market apart from the pre-crash era. Reckless construction and speculative buying led to a surplus that couldn't be sustained when the economy faltered. Banks are much more cautious about who they lend to, requiring higher credit scores and larger down payments.

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Buying New Construction for the First Time? Here Are the Dos and Don’ts You’ll Need to Know Before Jumping In

HomeLight

You’re looking at new construction as an option for your new home and love the idea of buying a brand-new house that has never been lived in before. However, you want to arm yourself with the tools and insider information so you don’t get too carried away with the new build. The dos of buying new construction.

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New-Home Sales Rise as Mortgage Rates Drop Significantly

Marco Santarelli

The good news is, lower mortgage rates help push new-home sales higher , and we've seen a bit of that recently. While the increase might not be as dramatic as some hoped, the slight dip in rates combined with limited existing home inventory has given the new construction market a little boost.

Sales 52
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Warning of a Weak Housing Market: Are We Headed for Another Crisis?

Marco Santarelli

This downturn is different for a few crucial reasons: Tighter Lending Standards: Banks have been much more careful about lending since the last crisis. Sellers in Overbuilt Markets: Areas with an oversupply of new construction or apartments may experience price declines and longer listing times. What's a Buyer to Do?

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Why You Still Need an Agent to Buy a New House

HomeLight

Don’t let the pristine facade or shiny appliances of a model home deceive you: buying new construction will be as complex as any old real estate transaction, if not more so. These are all areas where a knowledgeable buyer’s agent who’s got lots of new-build experience and local builder connections can be invaluable.

Agents 128