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New-home sales hit highest level since 2021

Housing Wire

Still, higher new home sales doesnt begin to offset the gap left by existing-home sales, which were at an almost 30-year low in 2024 at 4.06 Home builders were able to offer prospective buyers concessions, including rate buydowns, to entice them to new home communities.

Sales 476
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Existing-home sales finish a dismal year on a high note

Housing Wire

million home sales annually, said Bright MLS Chief Economist Lisa Sturtevant in a statement. New construction has not been able to keep up with demand. Over the past decade, the U.S. has averaged about 5.2 It is going to take years before we are back at that level, maybe not even until the 2030s.

Sales 357
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Housing completions were up in 2024, a bright spot for builders

Housing Wire

While new construction picked up between November and December, there are still headwinds in the homebuilding sector, Lisa Sturtevant, the chief economist at Bright MLS , said in a statement. Despite the declines, single-family starts and permits jumped 3.3% month over month to annual paces of 1.05

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Positive Signs: Single-Family New Construction, Permits Rise in September

RIS Media

According to the bureau’s September Monthly New Residential Construction report,… The post Positive Signs: Single-Family New Construction, Permits Rise in September appeared first on RISMedia. Department of Housing and Urban Development bears that sentiment out.

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New-home sales dip slightly in February

Housing Wire

Additionally, mortgage applications for new homes surged in February as a lack of existing homes for sale continued to fuel the demand for new construction. But a slight uptick in mortgage rates held back the pace of new home sales in February, according to NAHB chief economist Robert Dietz.

Sales 484
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Mortgage rates continue trending down before Christmas

Housing Wire

“A rise in homebuilder confidence , followed by new home construction reaching its highest level since May, signals a response to meet heightened demand as current inventory remains low.” Lower rates will have a positive impact on affordability, Lisa Sturtevant, chief economist at Bright MLS, said in a statement.

Mortgages 511
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Unsold homebuilder inventory is ticking up as new home sales slow

Housing Wire

However, mortgage applications for new home purchases increased 4% between July and August, the strongest pace of sales in three months. Homebuilders are still benefiting from very low inventory of existing homes for sale, which has driven more buyers to consider new construction,” Bright MLS Chief Economist Lisa Sturtevant said.

As-is 511