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Buyers Face Tough Conditions as Housing Inventory Drops 43% Annually

Pro Builder

Buyers Face Tough Conditions as Housing Inventory Drops 43% Annually. If homebuyers are fed up with the rising home prices and low inventory now, the upcoming spring homebuying season could make this season look effortless. January housing inventory dropped 43% compared to January 2020, according to Realtor.com.

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If Home Prices and Inventory Weren’t Enough, Buyers Now Struggle to Get Mortgages

Pro Builder

If Home Prices and Inventory Weren’t Enough, Buyers Now Struggle to Get Mortgages. Mortgage credit availability has reached near its lowest level since 2014, adding another hurdle for prospective buyers on top of low inventory and rising home prices. The median credit score for borrowers was 786 during the fourth quarter of 2020.

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An In-Depth Analysis of 2020’s Buyers and Sellers

Pro Builder

An In-Depth Analysis of 2020’s Buyers and Sellers. Fri, 12/18/2020 - 09:23. The National Association of Realtors’ annual Profile of Home Buyers and Sellers survey identified characteristics of both homebuyers and homes purchased, financing, selling experiences, and general profiles before and after COVID-19. cbroderick.

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The U.S. Needs 5.5 Million More Units to Close Housing Gap

Pro Builder

The report also says that from 2010 to 2020, new-home construction fell 6.8 The existing-home inventory totaled 1.16 In a study earlier this year, mortgage-finance company Freddie Mac estimated that the national deficit of single-family homes stood at 3.8 million units at the end of 2020. decline from a year earlier.

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NAHB New Chair to Tackle Regulation and Promote Trades

Pro Builder

Mon, 08/03/2020 - 13:00. Chuck Fowke named NAHB's new chair; a look at new single-family home inventory. New Single-Family Home Inventory. NAHB New Chair to Tackle Regulation and Promote Trades. NAHB Housing Policy Briefing. There are currently just 76,000 new homes completed and ready to occupy nationwide, according to the U.S.

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Why Builders Wait to See Lower Lumber Prices

Pro Builder

This phenomenon is largely a result of dealers’ inventory carrying costs and potentially significant differences between the price at which inventory is bought and sold. The disconnect is inherent to the lumber supply chain. In economics jargon, the “street” prices paid by builders are “sticky.” For more, visit nahb.org.

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How Could Biden's Proposed First-Time Buyer Credit Affect the Market?

Pro Builder

Tue, 12/15/2020 - 09:29. Inventory remains at a historic low and the overall market continues to feel the effects as home prices increase more than 15%. Housing Policy + Finance. How Could Biden's Proposed First-Time Buyer Credit Affect the Market? cbroderick. And it worked — briefly — because it had an expiration date.