Northeastern Retail Lumber Association’s Post

Residential construction news! So will home prices drop in 2024? Probably not: “Given the lingering housing shortage, home prices will march higher,” Yun said in the Pending Home Sales report. “Home prices are expected to rise roughly in line with consumer price inflation and wage growth over the next two years.” NAR predicts that median home prices will increase 1.8 percent over the course of 2024. #construction #constructionaccounting #constructionindustry https://lnkd.in/eXu2F5v9

Despite the cooling housing market post-pandemic, U.S. home prices have hit a new all-time high. Redfin reports that the median sale price surged to $433,558 in April, marking a 6.2% year-over-year increase. What factors do you think are driving these unexpected price gains? #HousingMarket #RealEstateTrends

Why Home Prices Are UNLIKELY to Go Down Any Time Soon Feb 2024 In a real estate market characterized by low inventory, population growth, and favorable interest rates, home prices remain stable. With homeowners reluctant to sell due to high equity and limited replacement options, the market is experiencing a surge in demand from first-time and move-up buyers. Investors are also turning to real estate as a hedge against inflation. For homeowners, selling now can help maximize equity, upgrade to a better property, or downsize. Timing the market can be risky, and selling now ensures benefiting from the current strong market. Selling can also help diversify investments. In summary, it is unlikely that home prices will decrease in the near future due to the current market dynamics and various factors supporting price stability. View article here: https://lnkd.in/eBanbP-v

Home prices continue to rise. Put that equity to use to either buy a new home that fits your needs, payoff higher interest rate debts or remodel your existing. There are plenty of options out there. Waiting for rates to drop will only increase the competition for homes and lead to higher prices. #preapproved #cashoutrefinance #Heloc #brokersarebetter

While Chairman Powell is correct in his assessment by looking at the data from the “top.” Looking upwards from the bottom, I see building competition between existing home sellers and new home builders. The most obvious sign of which is “purchased” low interest finance terms and other aggressive incentives being offered by new home builders to maintain sales momentum. While this does not necessarily indicate loosening supply, it does indicate a tightening pool of home buyers that is stimulating competitive initiatives.

Home prices on an aggregate basis rise for the 11th month in a row..... "The S&P CoreLogic Case-Shiller 20-city price index rose 0.2% in December as compared with the previous month.  Home prices in the 20 major U.S. metro markets were up 6.1% in the last 12 months ending in December." Really no end in sight to this one In my opinion. We've definitely seen some houses stay on the market a bit longer, with some price declines throughout their time on the market, but homes are still selling for much more than their historical basis. Something is worth what somebody will pay for it.... and America is willing to pay a lot clearly. #goodluckhavefunyall #homeprices

U.S. home prices continued to climb in March as a persistent shortage of homes for sale helped to buoy the housing market, according to the Intercontinental Exchange (ICE) Home Price Index. #HomePrices #HomePriceIndex #HomeEquity #ProfessionalLandTitleCompany

Home prices jump to record high, widening the divide in the housing market between current owners and would-be buyers. https://lnkd.in/eAyjhQ-E

The MBS Highway National Housing Index rose 3 points in April 2024, resuming its upward trajectory after a brief pause in March. While buyer activity improved month-over-month in most regions, it remains lower compared to the same time last year. Home prices, meanwhile, continue to move higher, boosted by seasonal demand and buttressed by low inventory. #mbshighway #loanofficerlife #mortgagepro #mortgagebroker

The MBS Highway National Housing Index rose 3 points in April 2024, resuming its upward trajectory after a brief pause in March. While buyer activity improved month-over-month in most regions, it remains lower compared to the same time last year. Home prices, meanwhile, continue to move higher, boosted by seasonal demand and buttressed by low inventory. #mbshighway #loanofficerlife #mortgagepro #mortgagebroker