The inflation rate remained at 3.4% in April 2024, relatively unchanged from the rate a year ago, in April 2023.
Built-for-rent is the concept of new single-family home construction for the intent of renting, and may be a good solution for people not yet able to buy their first home.
April's pending home sales fell 7.7% from last month and decreased 7.4% from a year ago.
The 30-year fixed mortgage rate from Freddie Mac rose to 7.03% over the last week from 6.94%. With 20% down, the mortgage payment on the median-priced existing home of $407,600 would be $2,176.
The 30-year fixed mortgage rate from Freddie Mac averaged 6.94% over the last week.
The study's results suggest that the industry is right at the beginning of a "green revolution."
An analysis of data from metropolitan areas between July 2022 and July 2023 showed that the South maintained its position as the nation's fastest-growing region.
The 30-year fixed mortgage interest rate averaged 7.02% over the last week, easing for the second consecutive week and remaining below the historical average of 7.74%.
Housing starts in April 2024 bounced back slightly with a monthly gain of 5.7% after a large 17% decline in March.
In Q1 2024, national median home prices rose 5.0% year over year to $389,400, with 28.5% of metro areas seeing double-digit price increases.
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