1. Newly-built home sales show positive start to the year…

    There was a 3.7 per cent rise for sales of newly-built single-family homes in January compared to a year earlier. Data from the HUD and US Census Bureau shows a seasonally-adjusted annual rate of 555,000 units. “This increase in new home sales is in line with our forecast for a steady, gradual rec…Read More

  2. How Long Does it Take to Build a House?

    According to the 2015 Survey of Construction from the Census Bureau, the average completion time of a single-family home is around seven months. It’s important to note that factors, such as the complexity of the project — the land on which the home is being built, the area where the home is bein…Read More

  3. Why We Need More Newly Constructed Homes

    The number of new home sales is far off historic norms. The National Association of Realtors (NAR) just reported that the percentage of all house sales that were newly constructed homes has fallen to the lowest numbers in forty years. Bottom Line We need more new construction for two reasons: It wil…Read More

  4. Whether You Rent or Buy: Either Way You’re Paying a Mortgage

    There are some renters who have not yet purchased a home because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize that, unless you are living with your parents rent free, you are paying a mortgage - either yours or your landlord’s. As an owner, your mortgage p…Read More

  5. The Impact Your Interest Rate Has on Your Buying Power

    Some Highlights: Your monthly housing cost is directly tied to the price of the home you purchase and the interest rate you secure for your mortgage. Over the last 30 years, interest rates have fluctuated greatly with rates in the double digits in the 1980s, all the way down to the near 4% we are ex…Read More

  6. New Home Sales Race to Keep Up with Demand

    Some Highlights: Many buyers who are searching for their dream homes are turning to new home construction after 10% of all new home buyers sighted a lack of inventory of existing homes as their reason for purchase. The median home price decreased slightly from September’s high of $314,100 to $304,…Read More

  7. Mortgage Rates Near All-Time Lows

    Mortgage rates hit a new 2016 low this week, and they're also nearing the lowest averages ever recorded. Freddie Mac reports the 30-year mortgage rate is close to the November 2012 record low of 3.31 percent. “Continuing fallout from the Brexit vote drove Treasury yields lower again this week,” …Read More