Residential construction is shifting to low-density areas due to affordability challenges, high costs and limited construction options in urban areas.
Affordability of existing homes edged higher for both median- and low-income families between the second and third quarter, the NAHB said.
Predictive AI is being used to analyze market trends and patterns to help investors while landlords use it to predict maintenance and resource allocation.
Better pet accommodations are now a bigger priority for renters of single-family homes than making room for a growing family.
Many are working a second job or a job they hate to afford rent, Redfin found. Rental affordability could stabilize in the future as more apartments are built.
The housing market is expected to improve next year, and buyers will embrace smaller homes, Zillow said. Mortgage rates may remain unpredictable.
Luxury homeowners are opting to build private sea walls costing $150,000 or more to protect their coastal homes from erosion and storm damage.
House prices rose as demand outpaced supply, but elevated prices and mortgage rates slowed growth.
NAR’s Pending Home Sales Index increased 0.9% in the South to 90.0 in October, up 2.5% from a year ago. Pending sales grew across the U.S.
New home sales dropped 17.3% in October to 610,000, with a 9.4% annual decline. Median price was $437,300, and 481,000 homes were for sale.
