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New home sales rose by 9.6% in March

Housing Wire

New home sales posted yet another increase in March, rising 9.6% This is the fourth straight month of new home sales increases. On a year-over -year basis, however, new home sales are still down 3.4%. On a year-over -year basis, however, new home sales are still down 3.4%. This represents 7.6

Sales 435
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Homes in Boise, Idaho are “flying off the market”

Housing Wire

Steven Caporale, founder and principal of Accel Realty Partners in Boise, has been in the industry for 25 years and said he’s never seen the housing market look like this. “In In Ada County specifically, where Boise is located, the number of homes for sale dropped from 1,697 last October to just 355 in October 2020, a 79% decline.

Marketing 534
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Housing starts dropped 9.0% in 2023

Housing Wire

New construction starts fell to a seasonally adjusted annual rate of 1.460 million units, down 4.3% Looking ahead, homebuyers who may be looking to purchase a new construction home may continue to struggle with lack of inventory in 2024, as the overall estimated number of building permits issued in 2023 was down 11.7%

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Mortgage rates might soar even higher

Housing Wire

We do not see new construction returning in a meaningful way any time soon. Kurt Carlton, President of New Western. The number of existing home sales reflects how the housing sector has been impacted by the Fed’s interest rate policies. Existing home sales are down 19.9% year-over-year.

Mortgages 448
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Only in Austin, Texas are home prices sinking

Housing Wire

For-sale listings deteriorated in 95% of major U.S. New construction starts and completions were both strong in May, which is welcome news. As of June 22, with 30-year rates at 6.67%, the principal and interest (P&I) payment needed to buy the median-priced home rose to $2,258, marking the highest payment on record.

Principal 418
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What to Look For in New-Construction Homes: These 5 Crucial Aspects Should Be on Your Radar

Realtor.com

However, just because a house is new doesn’t mean it’s free of flaws. There are a lot of factors that could make a brand-new home a less than ideal purchase. So, before closing on a new-construction home, here are some things you need to consider. Before you buy a new-construction home, make sure it comes with a warranty.

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Rocket has a profitable quarter and a new CEO

Housing Wire

Gain-on-sale margins posted for the second quarter of 2023 was 267 points, up from the previous quarter’s 239 points. million loans service, with approximately $500 billion in unpaid principal balance. Rocket generated $22.3 billion in origination volume in Q2, up about 31% from $17 billion in Q1 2023. What’s ahead for Q3?

Loans 370