The latest new construction report from the U.S. Census Bureau discusses building permits, housing starts and housing complications. Read More
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Seven Percent of Builders Now Build Barndominiums
Barndominium: a structure that is, in some sense, a combination barn and condominium A rising term in the industry, barndominiums are becoming increasingly widespread in real estate media outlets. Even more so, the National Association of Home Builders (NAHB) included the term in a questions in its February 2024 NAHB/Wells Fargo Housing Market Index. The survey yielded a response of a total of 7% of single-family builders are indeed building barndominiums at some point during the past 12 months. According to Eye On Housing, That result, however, leaves open the question…
Read MoreJob Growth Continues to be Strong Across Most States
Compared to the previous month, nonfarm payroll employment increased in 42 states and the District of Columbia in January. Eight states saw a decrease. Nationwide total nonfarm payroll employment increased by 229,000 in January, following a gain of 290,000 jobs in December, according to the Bureau of Labor Statistics. Employment data was most favorable in New York, which added 59,300 jobs on a month-over-month basis. California followed with a 58,000 increase, and then Florida adding 38,000 more jobs. Across those eight states, a total of 17,000 jobs were lost with…
Read MoreBetter, Not Bigger, Homes Among Top Design Trends for 2024
LAS VEGAS – Following a brief uptick in new home sizes in 2021, the average size of a new home continues to inch smaller — dropping from 2,479 square feet in 2022 to 2,411 square feet in 2023, the smallest average size in 13 years — to match home buyer preferences for less square footage. According to NAHB’s latest What Home Buyers Really Want study, home buyers are looking for homes around 2,070 square feet, compared to 2,260 20 years ago. “It’s related to two factors that are linked,” said Rose Quint,…
Read MoreSingle-Family Starts will Rise in 2024 but Supply-Side Challenges Persist
While higher interest rates pushed single-family starts down in 2022 and 2023, production should move on a gradual upward path in 2024 as the Federal Reserve is on track to cut rates during the second half of the year with inflation slowing, according to economists speaking at the National Association of Home Builders (NAHB) International Builders’ Show in Las Vegas today. “While the Fed’s fight against inflation is building progress, the lingering inflation challenge is housing inflation,” said NAHB Chief Economist Robert Dietz. “Shelter inflation—rent and homeownership costs—are still rising…
Read MoreU.S. Housing Underwent ‘Coastal SunBelt Revolution’
U.S. Housing Underwent ‘Coastal SunBelt Revolution’ Meredith Whitney Advisory Group CEO Meredith Whitney gives further insight into how the housing market is in a transitional phase and which regions will see the brunt of that transition. Read More Yahoo! Finance https://finance.yahoo.com/video/us-housing-underwent-coastal-sun-222940570.html
Read MoreTop 10 Housing Markets Where Homes Sold Fastest
Top 10 Housing Markets Where Homes Sold Fastest Nationally, the median home listing is spending 49 days on the market as of the first week of October, as per a comprehensive analysis by Realtor.com. This is only slightly less than the same… Read More Norada Real Estate https://www.noradarealestate.com/blog/top-10-cities-where-homes-are-selling-faster/
Read MoreHousing Market Update: More Homes Hit the Market as Spring Approaches
Housing Market Update: More Homes Hit the Market as Spring Approaches New listings posted their biggest increase in two months this week, but mortgage applications and pending sales declined as mortgage rates stay stubbornly high. Read More Redfin https://www.redfin.com/news/housing-market-update-new-listings-increase-sales-decline/
Read MoreCharleston-North Shines as One of America’s Hottest Housing Markets
Charleston-North Shines as One of America’s Hottest Housing Markets Discover the resilience and growth of the Charleston-North Charleston housing market amidst challenges. Ranked 13th in the nation, the market shows promise for future prosperity. Read More BNN Breaking https://bnnbreaking.com/world/us/charleston-north-charleston-metro-shines-as-one-of-americas-hottest-housing-markets
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