September 2023

New-home construction dropped by 11.3% in August, falling short of expectations as builders shifted their focus from new starts to project completions due to elevated mortgage rates surpassing 7%. The annual pace of housing starts fell to 1.28 million, with single-family home construction posting a 4.3% decline and apartment construction plummeting by 26.3%, according toRead …

How Elevated Mortgage Rates Are Affecting Housing Starts Read More »

Despite rising mortgage rates and home prices chipping away at housing affordability across the U.S., Realtor.com reports that a number of local real estate markets are still accessible to budget-conscious buyers, with the majority of single-family homes priced at $250,000 or less. These markets are primarily located in the Midwest and the South, with theRead …

US Metros Where You Can Still Find Affordably Priced Homes Read More »

After lighting up the MLS with Inter Miami, Argentinian futbol great Lionel Messi has made a big move—this time, off the pitch. The man widely considered soccer’s GOAT has found a home in South Florida, as he attempts to vault his new squad into the playoff race. Messi paid $10.8 million for his new waterfrontRead …

Lionel Messi scores luxe waterfront estate in Fort Lauderdale for $10.8 million Read More »

Starter homes—traditionally the entry point for first-time buyers—are now often out of reach for first-time buyers due to bidding wars and fast-rising prices in a market where median home list prices have surged 38%, mortgage rates have doubled, and the housing shortage has worsened over the last four years. The price of an “affordable” starterRead …

Entry-Level Homes Are a Reach for First-Time Buyers Read More »

As high mortgage rates continue to hamper homebuyers in the real estate market, the Mortgage Bankers Association (MBA) reports that mortgage applications have fallen to their lowest point since 1996 during the week ending Sept. 8. Even for those buyers who can manage today’s 7% rates, finding available housing remains a significant challenge, according toRead …

MBA Reports Lowest Number of Homebuyers in the Market Since 1996 Read More »