National Association of Home Builders’ Post

'In January 2024, the North Carolina housing market displayed both positive and challenging trends. According to Redfin, home prices experienced a notable increase, rising by 4.8% compared to the previous year, with a median price of $353,300. However, the number of homes sold saw a slight decline, down 0.41% year over year, totaling 8,524 homes sold compared to 8,560 in January of the previous year. The median days on the market decreased to 49 days, indicating a quicker turnaround for property sales compared to the previous year.'

Affordability Solutions Smaller Homes Can Be More Affordable 💸🏠 Did you know that newly built homes are actually getting smaller? Bigger houses mean bigger price tags, and home builders are trying to ease the squeeze for consumers by building single-family homes with less square footage. In fact, the median square footage of new single family homes is the lowest it’s been since 2010. A slightly smaller home could provide the quality and comfort you’re looking for, at a price that makes sense for you. Let’s talk! https://bit.ly/44o34vS Home buying grants apply today https://lnkd.in/gMvD2H92

Affordability Solutions Smaller Homes Can Be More Affordable 💸🏠 Did you know that newly built homes are actually getting smaller? Bigger houses mean bigger price tags, and home builders are trying to ease the squeeze for consumers by building single-family homes with less square footage. In fact, the median square footage of new single family homes is the lowest it’s been since 2010. A slightly smaller home could provide the quality and comfort you’re looking for, at a price that makes sense for you. Let’s talk! https://bit.ly/44o34vS Home buying grants apply today https://lnkd.in/gMvD2H92

Measured against the normal metrics, the U.S. is in the middle of a really weird housing market right now. Existing-home sales in 2023 fell 19% from the prior year to their lowest level in nearly three decades, according to the National Association of Realtors. Normally, slow sales lead to lower prices. Yet, as The Wall Street Journal reported, a lack of inventory pushed home prices to record highs last year and made home purchases “prohibitively expensive” for many prospective buyers. https://lnkd.in/gj3H3aEf

Victorian first home buyers are getting priced back into the property market as the time needed to save a deposit has dropped. According to PropTrack’s latest Housing Affordability Report, it now takes six years for the typical Victorian household to save a deposit for a $700,000 home. This is the lowest level since the early days of the Covid-19 pandemic (2021), when the timeline peaked at almost seven years as home prices surged. The data also reveals that households earning $100,000 a year could afford 8% of the Victorian homes listed for sale in the 2023/24 financial year. Those bringing home $120,000 could afford 13% of properties on the market, while households on $140,000 could afford 20%. About 45% of homes for sale were within reach for those earning $200,000, and almost 75% for those bringing home $300,000 a year. However, with home values stagnating and a rate cut expected early in 2025, buyers may be able to buy a bigger share of homes in a matter of months.

The Romford housing market, like many others, experienced a notable shift in 2023. The percentage of home sales agreed and moved (completed) compared to those withdrawn from the market unsold has decreased relative to 2022. https://lnkd.in/e-Cgx8K8 #gbpestates #propertyblog #yourpropertyisourbusiness

Housing market outlook for 2024 🔍🏠 The UK housing market in 2023 outperformed expectations, with lower-than-expected drops in asking prices and good buyer demand for well-priced homes. According to Rightmove, average seller asking prices will likely drop 1% in 2024, a reflection of rising competition among sellers. Despite a drop in inflation and signs that the Bank of England Base Rate has peaked, affordability will remain a challenge for buyers in 2024. Shared Ownership remains a smart route to homeownership. Partner with us today: https://shorturl.at/dzIKV #UKHousingMarket #AffordableHousing #SharedOwnership #StArthurHomes #WeAreStArthur

TORONTO—According to the Toronto Regional Real Estate Board, prices for a detached home have jumped from $898,332 in March 2014, to $1,708,437 in March 2024. That’s an increase of about $958K. Toronto homes officially crossed the million-dollar average in 2021 during the real estate market’s red-hot run. Between 2014 and 2024, Toronto’s average detached home prices only slightly dropped in two years: 2018 (-4.2%) and 2023 (-5.4%). While housing affordability in Canada has worsened in every market, the country’s most expensive markets – Vancouver, Victoria, and Toronto – experienced the biggest deterioration. In Toronto, 84.8% of median household income is needed to cover home ownership costs.

🏡 Exciting News in Home Construction! 🏡 This article explores the rising trend of smaller homes in new construction projects. In a market where sustainability, efficiency, and affordability are paramount, the shift towards compact living spaces is gaining significant traction. There are multiple advantages for both builders and home buyers driving this movement. Affordability and builder incentives, such as mortgage rate buydowns, are reshaping the landscape of modern living. 🌱 #HomeConstruction #Affordability #wnc #ncrealtor #realtor #realtorlife #homebuying #homeownership #newconstruction #compactliving