Homebuyers are returning, but sellers still aren’t filling the need as inventory remains low.
The median sales price of a new home was down on a monthly basis but up on an annual one.
House prices, however, continued to rise, marking the 130th consecutive month for price gains, the longest streak on record, the National Association of REALTORS® said.
More buyers have entered the market in the past four weeks as mortgage rates fell.
The increase in builder confidence breaks a string of 12 straight monthly declines in the NAHB/Wells Fargo Housing Market Index.
HomeServices of America President and CEO Gino Blefari took the top spot on the annual list.
For more than 10 years, Lifestory Research has released its highly anticipated study: America’s Most Trusted®. And the 2023 results are in.
The brokerage said its technology team, which was most affected in the previous round of cuts, will not be impacted this time.
Geographically, the largest home-price increases took place in the Southeast, led by Florida (18%), South Carolina (13.9%) and Georgia (13.6%), CoreLogic reported, citing its November Home Price Insights report.
The move comes despite a slowdown in the single-family rental market.
Foreclosures continue to rise toward pre-pandemic levels, according to new data from CoreLogic, but mortgage delinquencies are down. This is a positive sign, indicating that foreclosures will likely trend downward soon.
Regionally, the pending-sales index fell 7.9% month over month in the Northeast, 6.6% in the Midwest, 2.3% in the South and 0.9% in the West.
At the same time, the median sales price of a new house slid to $471,200 from $484,700 in October and $430,300 a year earlier, the U.S. Census Bureau and the U.S. Department of Housing and Urban Development reported.
The month-over-month decline in sales came as prices rose for the 129th consecutive month, the National Association of REALTORS® said.
The termination follows a lawsuit filed by the homebuilder’s founding family alleging the executive created a network of Twitter bots to harass the late founder.
New-home permits fell 11.2% month over month, while housing completions jumped 10.8% in what one observer said could have “worrisome” long-term consequences for the nation’s housing supply.