In the wake of the COVID-19 pandemic and shift in American culture, there is still a lack of demand for in-person shopping. Many sectors like outlets, malls and shopping plazas continue to feel the hit and many have been forced to close. From the disappearance of the mall to mall redevelopment, read on for more information on this trending topic. From[...]
The 2023 property tax analysis by ATTOM Data Solutions on metro areas with populations of one million or more shows a seven percent average increase in property taxes for U.S. single-family homes. Metro Atlanta property taxes had the fifth largest increase in the country year-over-year, with a 15.2 percent increase. Needless to say, the Georgia capital took a big leap in[...]
MarketNsight, a leading real estate data and analysis provider, reports that home prices continue to increase due to heavily constrained inventory for new and resale homes. “We will continue to see upward pressure on prices in 2024,” said John Hunt, Principal and Chief Analyst at MarketNsight. “Inventory is still 45% below pre-COVID levels. We need an additional 46,000 units annually in[...]
Did you know that homeownership unlocks multiple benefits including being a cornerstone to household wealth? The National Association of Home Builders (NAHB) recently published an article explaining how. Homeownership provides a roof over one's head, creates a sellable asset, and offers the opportunity to build wealth through equity. In 2022, it was estimated that 66% of U.S. households owned their homes.[...]
Apis Cor, a leading manufacturer of construction 3D-printing robotic technologies, has received a strategic investment from D.R. Horton, the largest homebuilder by volume in the United States and number one on our Top 25 Atlanta Home Builders list. This collaboration marks a significant milestone in advancing construction technology and addressing critical challenges in the housing industry. The investment from D.R. Horton[...]
In response to evolving homebuyer preferences, SRP Lending encourages home builders to construct smaller, high-quality homes. Recognizing a significant shift in the housing market, SRP Lending sees an opportunity for home builders to create residences that align with the desires of first-time buyers and the 55+ demographic, who increasingly favor 1,800 square feet or smaller homes. The National Association of Home[...]
Will there be a Silver Tsunami in 2024? In other words, will Baby Boomers flood the housing market with their existing homes as they retire and downsize? Experts at MarketNsight do not believe there will be a tsunami of Boomers flooding the market. And the reason why makes a lot of sense! John Hunt, Principal and Chief Analyst with MarketNsight, states, “Even[...]
New home construction prospered last year due to fewer resale home listings. In a news report published this month by Redfin, the real-estate brokerage quotes 32% of single-family home sales in Q4 2023 were new construction homes. The housing market saw a sizeable decrease in new construction following the Great Recession. With fewer new homes being built, the market leaned heavily on resale[...]
SRP Lending, a private lender for home construction, is gearing up for a significant shift in the housing market as mortgage rates are expected to fall below 6 percent by the end of 2024. This forecast, detailed in the January 2024 commentary from Fannie Mae’s Economic and Strategic Research (ESR) Group, predicts a gradual return to a more balanced housing[...]
The Current Landscape of Mortgage Rates According to Freddie Mac's Survey In a recent development in the real estate finance sector, mortgage rates have shown stabilization, consistently remaining in the 6% range. This trend, highlighted in Freddie Mac's latest Primary Mortgage Market Survey® (PMMS®), is a key indicator of the current state of the housing market. As of January 11, 2024,[...]