Do Home Buyers Prefer to Buy New Construction Homes_

Why are New Construction Homes Gaining Traction?

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 Anticipates a Boost in Home Sales as Mortgage Rates Drop Below 6%

SRP Lending Anticipates a Boost in Home Sales as Mortgage Rates Drop Below 6%

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[...]

mortgage rates

Mortgage Rates Stabilize in the 6% Range

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,[...]

MarketNsight, a leading real estate data and analysis provider, presented its state-of-the-market report and 2024 predictions during Market Watch calling for zoning reform and new housing solutions.

MarketNsight Calls for Zoning Reform and New Housing Solutions

MarketNsight, a leading real estate data and analysis provider, presented its state-of-the-market report and 2024 predictions during Market Watch calling for zoning reform and new housing solutions. "Nationwide job growth of nearly 3 million jobs in 2023 underscores the urgent need for increased housing supply to accommodate new workforce entrants, whether they rent or buy," said John Hunt, Principal and Chief[...]

The housing market may be near the bottom.

Housing Market is Revisiting 2022 Lows, But the Bottom is Possibly Near

MarketNsight, a leading real estate data and analysis provider, reports after 13 consecutive weeks with rates over 7%, the housing market has broken the lows in pending sales set in November 2022. History may be repeating itself, however, and the market may be near the bottom. “Rates peaked two weeks ago, and pending sales have continued to fall through November[...]

MarketNsight’s MarketWatch

MarketNsight’s MarketWatch: December 14

MarketNsight’s MarketWatch MarketNsight presents the current state of the Atlanta housing market and predictions for 2024 WHAT: From interest rates nearing 8% to resale inventory at a record low, there is an opening for new construction to fill the massive inventory gap. Find out more at MarketNsight’s MarketWatch on Thursday, December 14, 2023. John Hunt with MarketNsight and Dr. Rajeev Dhawan with the[...]

White house with an arrow pointing upwards symbolizing a rise in pending sales

YoY Pending Sales Turned Positive for First Time in 18 Months

MarketNsight, a leading real estate data and analysis provider, reports that year-to-year pending sales turned positive the last week of October for the first time since the second week of June 2022. “Don’t get too excited – the last week of October 2023 is being compared to a very bad October 2022,” said John Hunt, Principal and Chief Analyst at MarketNsight.[...]

Couple hugging holding house keys with boxes in background at new home

NAR Prediction: 6-7% Mortgage Rates by Spring

Chief Economist of the National Association of Realtors (NAR), Lawrence Yun, anticipates a 15% surge in existing home sales next year and projects mortgage rates to stabilize between 6-7% by Spring 2024. The report also highlights an unprecedented 22% rise in buyer income, marking the largest yearly increase, with down payments reaching their highest levels in two decades. On Nov. 15,[...]

pending home sales

Pending Sales Hold Steady Despite Sustained Rates Above 7%

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,[...]

US housing economy

US Housing Market Insights from Dr. Robert Dietz

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[...]