MarketNsight, a leading real estate data and analysis provider, reports that even after six weeks in a row with 30-year fixed mortgage rates higher than 7%, pending sales are performing better than in the fall of 2022. “Home buyers have become accustomed to higher rates, and the market continues to be driven by the lack of housing supply,” said John Hunt,[...]
Financing new home construction has never been without its challenges. Home builders and remodelers constantly grapple with a shifting landscape of financial constraints, regulatory hurdles and market uncertainties. But with the right partner, these challenges can transform into growth opportunities. One of the primary challenges builders face is securing flexible and timely financing. Traditional banks often have rigid lending criteria and[...]
Dr. Robert Dietz, Chief Economist of the National Association of Home Builders (NAHB), recently addressed the public affairs and communications committee at the fall leadership meetings in Palm Springs, California, sharing information on the US Housing Market. As an active member of NAHB, I am fortunate to chair public affairs for NAHB this year and have the opportunity to hear[...]
MarketNsight identifies 7% as the new sensitivity threshold for mortgages. The leading real estate data and analysis provider reports that rates in the second week of August 2023 rose to 7.09% - surpassing the 20-year highs set last fall. On the way to 7.09%, pending sales rapidly declined, completely reversing the positive trend witnessed in the third week of July[...]
Berkshire Hathaway HomeServices Georgia Properties Names Lori Lane as Temporary Head for Buckhead Unit Berkshire Hathaway HomeServices Georgia Properties (BHHSGA) has named Lori Lane as the acting Managing Broker for its Buckhead operations. Lane, already a prominent name in the real estate sector, will concurrently serve as the President and Managing Broker of the thriving New Homes Division and also holds[...]
Bright Spot: New home pending sales are up 48% year over year since February MarketNsight, a leading real estate data and analysis provider, reports that pending sales in July were down 18% year to year – showing no significant change from the 19% decrease revealed in its January 2023 update. Unless interest rates drop significantly in the next few months, pending[...]
Today, SRP Lending is shining the spotlight on David Ray, a key member of the company and a lifelong resident of metro Atlanta. With over 40 years of experience in residential construction and development, Ray's expertise is foundational to SRP Lending's thriving hard-money lending business. "David's dedication to the field of construction and home building has helped shape the landscape of[...]
A recent Fortune article reports that Warren Buffet just made a big bet on the U.S. housing market, and from Blue River Development's perspective, it is easy to see why. The recent investment by Warren Buffett's Berkshire Hathaway in three leading U.S. homebuilders – D.R. Horton, Lennar and NVR – signals strong confidence in the U.S. housing market. The investments, worth[...]
In the first half of 2023, the housing market in the United States witnessed a significant downturn in turnover. Redfin reports that only 14 out of every 1,000 U.S. homes changed hands, a drastic decline from 19 out of every 1,000 during the same period in 2019. The drop is even more pronounced for large suburban houses. Let's dive into[...]
Redfin recently revealed startling findings about the U.S. housing market. To afford the typical starter home, a first-time buyer must earn $64,500 per year. This figure is up 13% from last year due to rising mortgage rates and home prices. The income needed to afford a starter home has risen over 20% in Fort Lauderdale, FL, and Miami -- more[...]