article thumbnail

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% 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. Lakeland measured 4.6%

article thumbnail

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.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

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.

As-is 370
article thumbnail

Kiavi lands another $300M in its latest RTL securitization

Housing Wire

It also launched a new construction financing product for builders. The company reportedly originated $6.5 billion in loan volume last year, up 46% from 2023. Kiavi also said it boosted its active customer base to more than 5,500, up 30% from 2023. Kiavi has funded more than $23 billion in loans since its inception.

Land 231
article thumbnail

Southern construction boom is aiding housing affordability

Housing Wire

The South, in particular, has seen an influx of construction due to favorable zoning laws, ample land availability, and relatively lower costs of living. Southern markets lead in construction growth In 2024, 16 of the top 50 housing markets outpaced the national median in both new-home permits and price moderation.

article thumbnail

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. Their size and scale allow them to be more efficient in their spending.

article thumbnail

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.