Widespread shortages on building materials continue to prompt home builders to raise their prices. Material prices have increased by 26% over the past year for building the same house, according to National Association of Home Builders data. That’s put pressure on new-home prices: In May, the median price of a newly built home was 18% higher than a year ago, at $374,400.Material shortages have increased for appliances, paint, lumber,
As home listing prices break another new record, more homeowners are looking to take advantage and list their homes for sale. New listings in June rose 5.5% year-over-year and are up 10.9% over the prior month, according to a new report from realtor.com®.The uptick in new listings may give buyers more homes to choose from and could offer a hopeful sign for the real estate market.Still, the inventory challenges in the housing market are far from
The super-fast connection speeds of 5G have been touted as a potential game-changer for the future of real estate. Network carriers are rushing to roll out 5G in a bigger way across the U.S. this year. So where can consumers capture some of these faster speeds now?Smaller metro areas—not the big cities—are actually dominating with 5G, according to a new analysis from WhistleOut, a comparison resource for consumer technology. For exa
Home buyers had another chance to snag lower rates this week. The 30-year fixed-rate mortgage averaged 2.98%, Freddie Mac reports.“Economic growth remains steady and is bolstering more segments of the economy,” says Sam Khater, Freddie Mac’s chief economist. “Although low and stable mortgage rates have kept the housing market booming over recent months, a deterioration in affordability and for-sale inventory has led to a market slowdown.
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Hello, y'all,It has been very competitive for buyers with a stronghold on being a seller's market this year. And as always, we're here to help to capitalize on that. It's now the busy time of year in real estate and we have to take advantage of it. Reach out and we'll be sure we're doing everything we can to get the best results.Since the last company update, we've added 20 members including a Broker-Partner Kyron Johnson that will be recruiting
Porch and patios are not the same. But they’re both in demand, so it’s worth knowing the differences so you can present them accurately to your home buyers.Homeowners and buyers want more outdoor space since the pandemic started, and a porch or patio can offer that.A patio is usually found in the backyard. It’s often made from poured concrete or stone pavers.On the other hand, porches are usually attached to the front of a house and covered
Homes with solar panels tend to list 56% above the average home price, according to a new analysis from Porch.com, a home improvement resource. Solar paneled homes tend to cost an average of $680,000—about 48% more than the average home in a given area, the study shows.Solar homes tend to be more attractive in certain markets. For example, solar-powered homes tend to come at the highest premium in Pensacola, Fla., in which they tend to be three
Pending home sales bounced back strongly in May and surged to the highest reading for the month of May since 2005, the National Association of REALTORS® reported Wednesday.NAR’s Pending Home Sales Index, a forward-looking indicator of home sales based on contract signings, climbed 8% in May compared to April. Contract signings are up 13.1% compared to a year earlier.“May’s strong increase in transactions—following April’s decline, as w
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