Also during the month, the median sales price rose to $390,500 from $370,200 in June, according to the U.S. Census Bureau and the Department of Housing and Urban Development.
The Champlain Towers South collapse emergency is ongoing, and some experts say they expect condo sales, in what was a roaring condo market in Miami, to struggle from the impact. What can agents, sellers and buyers anticipate?
Millennials were once referred to as the “renter generation” because of their preference for apartment living in urban areas over purchasing a home in the suburbs like their Baby Boomer parents.
On a year-over-year basis, new-home mortgage applications were down 5.9% in May, the Mortgage Bankers Association reported, citing its Builder Application Survey.
Agents are swearing by the year-old Clubhouse app that allows more than 10 million users to host town hall-style audio-only forums on various topics.
A recent NAHB survey shows that regulatory costs imposed by the government account for $93,870 (or 23.8%) of the current price of new homes.
The number of buyers who locked in mortgage rates for second homes spiked to 178% year over year in April, according to a report from Redfin.