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The recent spike in mortgage rates has had a more muted effect on Washington D.C.’s new-home sales than when they started their climb from record lows in 2022.

Despite rates shooting past 7%, the average new-home sales rate has been higher than a year ago, suggesting home buyers have adjusted to the new normal and are budgeting a larger portion of their income to housing.

In the January Zonda Market Ranking, the metro area was significantly overperforming compared with its long-term historical average. Home builders are ramping up new construction, and starts activity has improved over the past six months.

Builders are reporting offering smaller homes, buying land farther from urban centers, and paring back features to help lower costs and sales prices.

Tri Pointe Homes is aiming for 17% year-over-year growth in home deliveries

Whether buying your own appliances or opting for the builder package, choosing appliances in a new build starts with understanding function.

2023 has been a rough ride for homebuyers. Exploding interest rates caused many potential buyers to pump the brakes on diving into homeownership.

Home sales aligned with expectations in October. While sales were cooler than September, the rate of sales was well above levels a year ago, according to the October New Home Market Update report from Zonda.

However, forward-looking permit data reflects market uncertainty and the challenges of persistently high mortgage rates.

Are you looking for a home in Phoenix? Get ready for a challenge. RE/MAX released its National Housing Report for August, and the news out of Arizona may shock potential buyers.

The seasonally adjusted estimate of new-home inventory for sale remained above 400,000 for the 17th consecutive month.

The 30-year fixed-rate mortgage (FRM) surpassed 7% for the week ending Aug. 17, reaching its highest level in over 20 years, according to the Primary Mortgage Market Survey from Freddie Mac. The 30-year FRM averaged 7.09%, up from 6.96% the prior week and from 5.13% during the same week a year ago.

New-home sales remained strong through June despite the persistence of high mortgage rates in the economy, according to Zonda’s New Home Market Update report.

Higher interest rates, inflation, and increasing insurance costs impact all sectors of the Baton Rouge, Louisiana, real estate market, but local experts are still quite optimistic….

According to the latest RE/MAX national housing report, home sales increased by 20 percent month-over-month in May. New listings also saw an 8.7 percent uptick. 

Despite rising rates and prices, new home sales last month are higher than March, April 2022, and April 2019 levels, according to Zonda.

Despite cooling interest rates, activity in the existing-home market remains constrained by low-rate homeowners reluctant to list their homes.