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The median price of a newly built home dropped sharply in September to $299,4400. That was 8.8% lower compared with September 2018, according to the U.S. Census and was the lowest read since February 2016.
Homebuyer demand is back but why are sales of existing homes not higher? Diana Olick explains.
September sales of existing homes fell short of expectations, following two months of gains. The problem is low supply combined with high prices; prices jumped nearly 6% annually, according to the National Association of Realtors, the biggest gain since January 2018.
Second homes are cropping up in backyards across America and some homeowners are reaping the financial rewards. Diana Olick reports.
Second homes, formally called auxiliary dwelling units (ADU’s), are cropping up in back and side yards across America, acting as either rental units or additional space for aging parents and still-nested adult children.
There’s slim pickings for affordable homes and some say the problem could get worse. Diana Olick explains.
U.S. homebuilders are loving today’s lower mortgage rates, which are bringing buyers back and boosting sales.
National housing inventory fell 2.5% annually in September, a sharper decline than August’s 1.8% decrease, according to realtor.com
Lured by better weather, lower taxes or an improved quality of life, many older Americans consider relocating in retirement.
An unexpected decline in mortgage interest rates had homeowners calling their lenders last week, looking to save money on their monthly payments.
Our Diana Olick reports on how oysters are helping to protect coastal real estate from storm surges.
Cooler weather historically means a cooling off period in the housing market, but that is not the case this fall. After dropping to the lowest level in eight years, bidding wars are creeping back.
Diana Olick reports how a new survey shows consumer confidence in housing is weakening while homes are now coming more affordable.
Lower mortgage rates are making buying a home slightly more affordable, but financial concerns are outweighing that benefit and lowering overall confidence in housing.
The recent market volatility is causing mortgage rates to fall creating big savings for borrowers. Diana Olick reports.