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Forbearance Exits Expected to Add Inventory

Pro Builder

Forbearance Exits Expected to Add Inventory. A wave of inventory could come soon as hundreds of thousands of homeowners are expected to exit forbearance, with a significant share likely to list their homes. This not only benefits the market’s inventory problem, but homeowners can benefit from the significant price appreciation.

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Middle-Income Buyers Face the Nation’s Biggest Housing Shortage

Pro Builder

Middle-Income Buyers Face the Nation’s Biggest Housing Shortage ldeakins Tue, 06/13/2023 - 11:05 Middle-income buyers can afford to buy less than one-quarter of listings in today's housing market The U.S. A two-fold approach is needed to help with both low affordability and limited housing supply.

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Top U.S. Home Builders Report Strong Sales Despite Rising Mortgage Rates

Pro Builder

Even as mortgage rates reach new highs, a lack of available housing inventory is driving up demand and keeping home builders busy in every regional market. In short, demand was strong, available inventory was scarce and the incoming supply is limited.”. Market Data + Trends. New-Construction Projects. Market Data + Trends.

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A Record Share of U.S. Homes Are Worth $1 Million or More

Pro Builder

in February as a lack of inventory drives up sale prices. The median home sale price rose 33% to $363,975 in February following a 50% drop in the number of homes for sale, pushing inventory to an all-time low of 456,000. A Record Share of U.S. Homes Are Worth $1 Million or More. Fri, 03/11/2022 - 10:40. A record 6 million U.S.

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Homebuilders Keep a Steady Pace as the Market Cools

Pro Builder

The housing market is cooling, asking prices are dropping, and inventory is on the rise across the U.S., KB Home noted that its typical buyer has a household income of $125,000, a credit score around 730, and puts $75,000 down when buying a home. Importantly, people still have their jobs and incomes, so that buyer pool still exists.

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Pros and Cons of Buying a Home During a Recession

Pro Builder

If a recession materializes in the year ahead, experts anticipate even higher interest rates, a floor on pricing decreases, and potential income changes, but for priced out buyers, a sudden slowdown could also mean significant price drops and less competition, Forbes reports.

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Biden Announces Housing Supply Action Plan to Boost Inventory Nationwide

Pro Builder

Biden Announces Housing Supply Action Plan to Boost Inventory Nationwide. Though likely to make a substantial difference in low-income neighborhoods with a shortage of affordable housing, the plan isn’t geared toward first-time buyers, who account for the majority of all home purchases and keep housing demand high across the U.S.