article thumbnail

New home sales fell again in February

Housing Wire

“Inventory is at a record low and homes are selling within a week of being listed – more than two weeks faster than they did in February 2020.”. Regionally, new home sales increased month over month in the Northeast (59.3%) and the Midwest (6.3%), but fell in the South (-1.7%) and the West (-13.0%). . after a 10.4% drop in January.

article thumbnail

The nation’s housing market is on a correction course

Housing Wire

Homes listed for sale are increasingly seeing asking-price reductions, and both construction and home sales — both existing and new — are slowing.”. In fact, Coronado said for some markets that have experience rapid home-price appreciation, a decline in home values may benefit the overall market. “At

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Too many appraisers?

Appraisal Today

Construction started in 2001 and took three years to complete with two bedrooms, 2 bathrooms, and a swimming pool. “Americans have seen home values rise at record rates over the past few years. House decorating used a lot of seashells and items found on the local beach. Available to rent on Airbnb, of course.

article thumbnail

Appraisals – Check the Water Source!

Appraisal Today

Did anyone think in early 2020 that home values all over the country would go off the charts? We went through three architects because no architect could figure out how to build this home with unobstructed views without having large columns supporting the substantial overhangs,” Gary explains. No one did. 8-minute podcast.

article thumbnail

Are you better off moving or refinancing?

Cornerstone

More than 38 percent of homes that are owner-occupied are owned outright, the U.S. Each time home values increase, homeowners receive a dollar-for-dollar equity gain. Home Equity Report shows: “34.4 percent mortgage rate ( the average for 2006 ; 6.65 Census Bureau/Construction Coverage, 2020. **MBS

article thumbnail

8 Experts: Sky-High Housing Prices Won’t Fall

Empire Appraisal Group

On the supply side, a decade of underbuilding of homes, regulatory barriers, high construction costs combined with people staying longer in their homes have kept housing inventory low. But … home price growth will decelerate in the coming year, experts predict. Why home price growth will slow. million in 2018 to 3.8

article thumbnail

How to Reduce Appraisal Revision Requests

Appraisal Today

The frame is built with 60 tons of steel and construction took over 6 years utilizing artisans from all over the world. When I did my national conferences from 2001 to 2006 there were no tests. ==. How Grocery Store Locations Impact Home Values. Excerpts: Built 1990 | 6,106 Sq. 5 Beds | 5.5+ Not required by California.