Buyers Looking to , New Homes and Cheaper , Housing Markets.
Despite record mortgage rates,
Americans continue to
purchase new homes.
According to the 'Wall Street Journal' and
Realtor.com, the Midwest offers prospective
homeowners the most affordable possibilities.
The Emerging Housing Markets Index report, released on October 25, says high mortgage rates have kept many homeowners from selling, suppressing the sales market. .
However, buyers have instead been looking
to find newly constructed homes, creating
a situation that benefits builders.
It helps that builders can be a little
bit more flexible in the terms that
they can offer buyers. You know,
they can pay points to help lower
the mortgage rate that buyers
of new constructions are getting, Danielle Hale, Chief economist at Realtor.com, via 'Newsweek'.
Builders don't have any
emotional skin in the game.
They're just trying to price for
what will get the deal done, Danielle Hale, Chief economist at Realtor.com, via 'Newsweek'.
Data from the Census Bureau and the Department
of Housing and Urban Development suggest that sales
of new single-family homes surged in September.
Sales were up over 12% compared with August,
reaching 759,000, which is almost 34% higher than
the same time in 2022, exceeding analyst expectations.
According to Danielle Hale,
chief economist at Realtor.com, the top five
of the top 20 markets are in state capitals. .
Prospective buyers looking to find affordable homes
can also reportedly look to places like Elkhart-Goshen,
Indiana, Springfield, Ohio, and Jefferson City, Missouri.
Prospective buyers looking to find affordable homes
can also reportedly look to places like Elkhart-Goshen,
Indiana, Springfield, Ohio, and Jefferson City, Missouri.
Prospective buyers looking to find affordable homes
can also reportedly look to places like Elkhart-Goshen,
Indiana, Springfield, Ohio, and Jefferson City, Missouri