In The News
Respected business news and trade media outlets turn to our team for clarification on important and timely issues. John Burns regularly appears on national TV and major media discussing current housing industry topics, and many of our leaders are featured regularly in publications such as The Wall Street Journal, Bloomberg Businessweek, CNN, and USA Today. Below are some of the most recent and notable headlines.
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Notable John Burns Real Estate Consulting Mentions
A severe shortage of construction workers is expected to cause widespread delays and push labor costs sharply higher as Texas begins to rebuild from Hurricane Harvey.
The U.S. is, slowly but surely, inching closer toward seeing the self-driving car on the road.
Home Depot delivered yet another beat, posting strong sales growth of 6.2%, easily surpassing revenue expectations by $300 million.
The cost of housing is rising at a fast clip, and nowhere is it more apparent than in the market for newly built homes.
Seven-year-old Anaika Datla is in the Half-Pints, and 12-year-old Drew Bradford is in Foodies. Both are students in Willowsford Farm Junior Chefs Academy, which offers cooking classes designed for children.
Why live in a metropolis when you can find urban perks in the suburbs?
Older millennials are realizing they don’t have a good answer to that question anymore. The result: a migration out of the city.
The trendiness and appeal of downtown may still be there for some, but as young adults start to grow older, they’re more tempted to trade in their reverse commutes and crowded shopping centers for a simplified version just outside the city.
According to an NAHB analysis of U.S. Census Bureau data, about 23.2% of the homes built during the 1990s were 3,000 feet or more and that number rose to 28.6% from 2010-2015.
Lorraine Woellert and her editors at Politico have it at least partly right in her piece, “Why Washington Can’t Fix the New Housing Crisis.” By nature Washington is Washington and housing is local.
Burns originally had no desire to go into real estate. Instead, he wanted to build a business in the late 1980s based on fantasy baseball or, as it was then called, “rotisserie” baseball after a restaurant where its founders came up with the idea.
The largest generation is finally starting to buy houses. The trouble is, there aren’t enough houses for sale to feed their appetite, at least not enough they can afford.
Brookfield Residential’s Delano at Eastwood Village Impresses at Grand Opening Event, Model Homes Now Open Daily
The recent debut of Brookfield Residential’s new Delano at Eastwood Village in Irvine was a grand success with an impressive number of guests touring the townhome collection’s professionally decorated model homes.
The future of U.S. homebuilding depends on more people like Cyndicy Yarborough, a 26-year-old former Wal-Mart clerk with no background in construction.
The latest release of detached courtyard homes feature open-concept floorplans with light-filled living spaces, luxurious master suites, modern amenities and two-car garages, plus large, private yards.
A feeling of spring in the air in January and February matched the level of activity in the Northern Virginia housing market during those months.
Desirable New Locations Available at Silverleaf in Portola Springs® Village, Many With Spacious, Private Yards
Desirable new locations are now available at California Pacific Homes’ Silverleaf in Irvine’s Portola Springs® Village, presenting fresh opportunities to own at this popular neighborhood.
Lack of housing inventory continues to be a problem throughout the Washington region, but Prince George’s and Montgomery counties in Maryland have far surpassed other jurisdictions in the area when it comes to price appreciation.
The RV market is on a tear — thanks to retiring baby boomers.
The popularity of multiple master bedrooms in single-family homes has grown at the luxury level, according to Realtor.com.
Homeowners with a hankering for extra elbow room are driving a lucrative market for homes with multiple master bedroom suites.
Perhaps the most surprising thing about the controversial Super Bowl TV advertisement that showed an immigrant family encountering a border wall is that the company behind it denies it was about immigration at all.
Pacific Union International, Inc., a global innovator in bringing real estate technology to the industry, launched today a partnership with Nest Labs, Inc., the architect of the thoughtful home.
Until recently, the mortgage interest deduction was right up there with Social Security as a sacrosanct institution on Capitol Hill, protected by lawmakers on both sides of the aisle.
As Don Huffines sees it, Donald Trump’s election instantly made his Dallas-area pastureland much more valuable.
In Santa Ana, not long ago, on a tired commercial stretch west of downtown, stood a church, a burnt-out motel and something harder to see: one key to alleviating the region’s housing crisis.
At face value the numbers make no sense. A monthly survey of homebuilder confidence in December released Thursday from the National Association of Home Builders spikes to the highest level in 11 years.
Sales of luxury homes in most parts of the U.S. have continued to increase over the last year, according to an analysis of more than 40 high-end counties in 16 states, despite concerns from some analysts about a slowdown.
Home builders say they are fairly upbeat about housing conditions. The stock market suggests otherwise.
The housing market has reached its long-anticipated new milestone: U.S. home prices finally topped record levels for the first time since July 2006, according to the S&P CoreLogic Case-Shiller Index released this week.
Over the past several weeks, I have had the opportunity to attend a variety of fall industry conferences: the Urban Land Institute (ULI) fall meeting in Dallas, a Vistage Construction Network CEO Roundtable in Boston, and John Burns’ Fall Homebuilding Conference in New York.
A sharp spike in interest rates following the election of Donald J. Trump last week threw icy cold water on the mortgage market.
A surprising twist toward the end of 2016 with the election of real estate magnate Donald Trump as president is likely to presage some dramatic changes in 2017 for the housing industry…
Builders often find themselves taking a hit-the-ground-running approach and jumping straight into ideas that they know will work.
Steve Rattner, Willett Advisors’ chairman, says Donald Trump’s policies can transform the U.S. economy.
America’s housing market is heating up again, fortifying the finances of current homeowners and frustrating potential first-time buyers.
Inventory has been a major theme of U.S. housing markets in recent years, as a shortage of homes for sale has pushed prices higher and low vacancy rates have increased rents.
A new Demographic Strategies for Real Estate report points to a shift in the archetypal housing developments we’ve come to know as the norm.
Houston’s economy is cooling down.
September housing starts came in 9 percent below August and 12 percent below September 2015, according to the U.S. Census, but those big drops belie a huge improvement for the market, at least in this monthly read.
Builders sprung back to life after the housing bust by focusing on high-end projects in upscale neighborhoods.
There will be plenty of large-scale reconstruction to do in the wake of Hurricane Matthew, which has been blamed for dozens of deaths since it made its first U.S. landfall Friday and is still causing catastrophic flooding throughout eastern North Carolina.
Houston’s boom is over.
That’s what analysts at BMI Research argued on Tuesday in a research note on Texas’ second-largest metro area.
They’re known for bouncing around jobs, delaying marriage and holing up in their parents’ basements.
About 11 million Floridians are in the path of Hurricane Matthew, which is now expected to come ashore as a deadly Category 4 storm.
Mortgage rates took their biggest leap in two months on Friday, thanks to a sell-off in the U.S. bond market.
The U.S. housing market continues to move ahead, but a generation of homebuyers is being left behind.
Could “smart home” technology — features such as network-connected thermostats, security devices, appliances and lighting — help you sell your home faster and for more?
Could “smart-home” technology — features such as network-connected thermostats, security devices, appliances and lighting — help you sell your property faster and for more?
Spending on home remodeling is expected to hit new highs this year, and according to RBC Capital Markets analyst Bob Wetenhall there’s still time for investors to capitalize on it.
Spending on single-family home construction remains 40% below the levels of a decade ago, but new forecasts project that U.S. investment in residential remodeling and repairs this year will surpass records set during the housing boom.
The push toward urban living is pushing the envelope for real estate developers, forcing them to become more creative with the space they have.
With median home prices in San Francisco hovering near $1 million, developers are looking to the far reaches of the Bay Area and beyond in search of affordable land on which to build.
In today’s “Single Best Chart,” Bloomberg’s Tom Keene displays real existing home prices in the U.S.
Today’s different generations are getting cozier when it comes to sharing living space
Seven and a half years after bottoming out amid the Great Recession, median home prices in Orange County finally surpassed their bubble-era heights last month.
The more than yearlong slump in prices for raw materials used in construction hasn’t been of much benefit for U.S. builders.
The first phase of residential development is underway at Lago Mar, a community being developed by Land Tejas in Texas City. The 2,033 acres reserved for Lago Mar are expected to accommodate 4,400 home sites.
Baby boomers, the largest and wealthiest generation to retire, are changing the face of cities by choosing to retire to urban areas rather than suburbs.
As the Pacific waves crash below, the frames of luxury homes rise above — in what is being called the last seaside development in Southern California.
A custom-built home in the heart of California’s Silicon Valley had its price cut by $500,000 last week after sitting on the market since the end of March — a move that would’ve been almost unfathomable a year ago and a signal that frenzied demand has peaked.
When Conrad Lifsey and his partner, Derek Loftin, who own a luxury RV rental company in Palm Springs, bought a house 2015 in a property development called Sol, what sealed the deal for them wasn’t inside, but up on the roof.
In spring 2014, Joel Shine was ready to cross the finish line. After working for more than a year to take Woodside Homes public, the son of a longtime Los Angeles home builder had the Salt Lake City–based company poised for an IPO.
The average cost for home builders to comply with regulations for new home construction has increased by nearly 30% over the last five years, according to new research from the National Association of Home Builders.
At Paradise at Ironwood Crossing, a 2,100-home master-planned community southeast of Phoenix, new houses starting as low as $170,000 are snapped up within weeks of hitting the market.
The construction industry deserves a closer look.
While America’s housing market is recovering, the construction industry has struggled to catch up.
LOS ANGELES — Robert Leviton’s loudest neighbour is a 12-lane freeway.
The busy stretch of highway that runs alongside his townhouse complex is visible from his north-facing windows.
Connie Durnal has more than two decades of experience as a broker in the Dallas real-estate market. But these days she thinks of her career in two distinct phases: the last two years and “the olden days.”
Home construction weakened in March, and homebuilder sentiment hasn’t budged in three months — all this in the heart of the historically strong spring housing market.
Buying a home no longer offers attractive tax breaks, due to near-record low mortgage rates and an increase in the standard deduction.
It was beginners’ night for pickleball at Sweetgrass, a development in Richmond built for the 55-and-over set, but there were plenty of veteran players on the courts.
Some air may finally escaping from the inflated San Francisco real estate market. Home prices in the San Francisco Bay Area were down 1.8% on a year-over-year basis…
It may be yet another reason why younger Americans are choosing to rent: Buying a home is unlikely to offer them any tax break.
The tax benefits of homeownership, which generations of U.S. residents have counted on, have been elusive for typical buyers since mortgage rates started tumbling in 2008, according to an analysis by John Burns Real Estate Consulting LLC.
Low inventory and competition for homes in popular areas near the city and Metro stations are impacting Northern Virginia this spring along with the rest of the Washington-area market.
The spring real estate market in the Washington region often starts way before residents change their clocks for daylight saving time or see their first crocus poke from the earth. This year is no exception…
Baby boomers are altering the American Dream. After having the home in the suburbs, the kids, the two cars, and maybe even the picket fence, a growing number now want to ride elevators to rental apartments and walk out the door to restaurants.
While January’s blizzard slowed the housing market briefly, buyers dug their way out quickly and got back to the business of touring homes and making offers, particularly in the city.
The stock market is looking wobbly. Bonds are paying you about what you’re losing to inflation. And the rest of the investment landscape is about as reliable as the latest presidential candidate poll.
The widening gap between the middle and upper tiers of home prices is making it harder for people to trade up, tightening inventories and pressuring prices, according to a study set to be released Monday.
Rampant volatility in the U.S. stock market is showing up in the high-end housing market. But as with all things real estate, the impact depends entirely on location.
Metro Denver continues to top the charts for annual home price appreciation among major metro areas, making it one of the most expensive housing markets outside the two coasts.
Armed with data from John Burns Real Estate Consulting that 21 million American households are composed of more than one adult generation under the same roof. Olick highlights three reasons for the large–and growing–multigenerational household composition:
Jennifer Michaels didn’t expect her Seattle-area house would sell so quickly, especially since she hadn’t settled on a new home yet. With nowhere to go, the divorced mom moved herself and her two teenagers in with her mother, Lucy Abbott, thinking it would be temporary.
During the height of last decade’s housing boom in Los Angeles, developers drew up plans to place luxury condos on top of hotels. The pitch was not only the posh digs, but the hotel services wealthy owners would enjoy without having to leave the comforts of their living room.
LAS VEGAS—The splashy model house unveiled this week during the home-building industry’s largest trade show featured an unexpected design concept: roommates.
Mark and Linda Thering’s brand-new house in Spring boasts 3,100 square feet, a fireplace, game room and two patios. The couple also got something homebuyers until recently could only dream of – a $15,000 discount.
Embers from metro Denver’s scorching housing market, which cooled late last year, remain hot enough to reignite into another nation-leading performance, some forecasts are predicting.
Friendswood Development Co. is gearing up for home sales in two area communities as it reports a high volume of sales in some others.
The Houston area again claimed more top-selling master-planned communities than any other metro area in the U.S., even as two longstanding favorites fell off the list and sales slowed in some others.
Congratulations are in order for the 21 top-selling masterplans in the country, and the top 3 project winners follows last years with The Villages, The Irvine Ranch, and Nocatee.
The dawning slowdown in the Houston-area housing market arrives on the heels of a striking boom where homebuilders and apartment developers increased the housing supply by almost 10 percent in just a few years.
Megan Keskitalo and her husband, Glenn Eckstein, were enthusiastic city dwellers until the suburbs began calling. First it was Chicago’s crime, then it was worry about school districts, and in the end, it was money that pushed them past the city’s edge.
The Federal Reserve’s decision Wednesday to lift interest rates could hit metro Denver residents close to home and temper a two-year run-up in home prices.
The Woodlands brand recognition and the booming south Montgomery County economy has continued to draw in new homebuilders. But time is running out for those looking to get into The Woodlands.
Chinese money is becoming a major force in real estate around the world and in America, with a recent luxury development 35 miles northwest of Dallas being only the latest frontier, according to an article in the New York Times.
Home prices continue to climb, but the U.S. government is keeping a lid on the size limit for federally backed mortgages, posing problems for home buyers in many pricey markets.
Some believe housing starts have struggled because of lot and labor shortages, and high construction cost, but John Burns Real Estate Consulting says it may be a lot simpler than this.
BOCA RATON, Fla. — Weeds, crabgrass and fallen palm fronds cover the wildly overgrown greens of what was once the Mizner Trail Golf Club, its decrepit state emblematic of the fate of hundreds of golf courses around the country, many of them derisively known as “rabbit patches” or “goat farms.”
Surging rents, skyrocketing real-estate prices and booming tech companies. Sounds like San Francisco in 2015, right? It also describes the city just before the tech bust of 2000, according to a recent report.
Looking across the vast spectrum of housing surveys today, most will claim that the majority of renters want to buy a home eventually. That may be, but they’re not saving to do that.
Much attention has been paid to skyrocketing college costs, with many positing that the resultant accumulation of unprecedented student loan debt—now totaling more than $1 trillion—makes homeownership unaffordable for millennials.
October is here: the leaves are changing, jack-o-lanterns are carved, and builders are preparing to hit year-end sales goals. October, of course, is also home to one of America’s greatest sporting events, the World Series.
Now that U.S. homeowners are feeling better about the value of their property, they seem more apt to add to that value.
Ever since the Greeks built temples on high and the Egyptians erected pyramids in the sand, real estate has always been all about location.
Home builders are facing delays and rising costs as they struggle to find enough construction workers.
Home builders this year have booked their strongest sales since the recession. A shortage of construction workers, however, is making it tough…
Northern Virginia has had a so-so housing market thus far in 2015, and David Howell, executive vice president and chief information officer of McEnearney…
Home prices are gaining steam again, fueled by tight supply amid growing demand.
As home values rise, homeowners are gaining more equity on paper — and they’re taking it out in paper.
While no one anticipates a return to the frenzied housing market of the pre-recession days or even the hectic pace in 2013 when low inventory and low mortgage rates pushed some buyers into bidding wars…
John Chaffetz is showing off an apartment building that his development firm, Timberlane Partners, just bought for $7.2 million. He admits it doesn’t look so hot.
The District’s real estate market remained in fifth gear even from June to August when activity typically slows down considerably…
One huge part of the US economy that’s been experiencing major labor shortages is the construction sector.
The U.S. construction industry has lost more than half a million Mexican-born workers since 2007, contributing to a labor shortage…
Home prices are overheating again.
Is your market over- or underpriced? Here is a map of our over/underpriced conclusions today.
When it comes to interest rates, what goes down eventually must go up.
California’s already tight housing market is facing another long-term complication: drought.
As apartment rents keep rising, LGI Homes (LGIH) derives more marketing power to turn renters into homeowners.
It was widely deemed a temporary play: Large-scale investors buying thousands of discounted foreclosed properties during the worst of the housing crash and turning them into single-family rentals.
Construction of single-family homes, which packs an outsize economic punch, has stalled, as new households rent and building costs have risen.
Bond guru Jeff Gundlach’s DoubleLine Capital has announced its first commodity-based investment product.
Houston’s real estate market hasn’t avoided the slowdown triggered by collapsing oil prices, but a more diverse economy will help offset weakness in housing and vacancies in area office towers, industry experts said Tuesday.
The repercussions of Black Monday could go further than just today’s major hit, with the future of Chinese homebuyers now in question.
Chinese home buyers comprise roughly 2% of US housing demand—and far more than that in the gateway metro areas with excellent airport access.
Despite the drought, communities are pushing ahead with plans for new housing, with advocates saying there will be enough water to meet the demand.
Hedge-fund manager John Paulson, who made billions wagering against subprime mortgages, has started to profit from a U.S. housing bet that took longer to ripen: owning land.
Builders and developers will now start building more detached homes for rent.
Your grown-up children may never hit many of the milestones you’ve come to associate with adulthood — and you can blame their crushing student loan debt for that.
Homes like this one in San Francisco are continuing to sell well, and most experts say Bay Area housing prices will be rising over the next year. Many are more cautious about long-term forecasts.
The Orange County (Calif.) Register staffer Marilyn Kalfus delivers a mid-year report on the local housing market, where home sales topped $11 billion in the first half –the most in a decade.
Taylor Morrison, an Arizona-based homebuilder in an expansion mode, has acquired the assets of Orleans Homebuilders in Chicago and two other markets for $166 million.
Erica Luna’s commute eats almost four hours out of her workday, and means no messing around with the snooze button at 4 a.m.
Turmoil in the Chinese stock market could have a quick and direct effect on U.S. housing.
Rents in the highest-quality apartments rose 4.4% last year, including an 8.0% jump in one West Coast portfolio.
Some credit them with saving the housing market. Others blame them for taking advantage of a crisis and bullying real homebuyers out of the American Dream.
Consumers often rate the kitchen as the most important room in the home, and with good reason….
The housing market could be in for a bumpy ride as mortgage rates climb.
If you want an industry with a great long-term outlook, consider construction.
The supply of existing homes for sale is incredibly short, and while builders are starting to construct more homes than they did a year ago, they are still producing well below normal volumes.
A growing lifestyle choice for 75+ seniors.
More than once, the chief executives of Southern California home builders Standard Pacific Corp. and Ryland Group Inc. talked about whether they should combine their operations.
It’s no surprise that rustbelt cities have floundered in the wake of factory closures and businesses moving manufacturing overseas, and that continues to have an adverse effect on housing prices.
Homebuilder David Sinkey looked into his crystal ball about 30 months ago and a disturbing vision appeared.
When Christopher Simmons began shopping for a home in Denver six months ago, he had no idea the risk and the frustration it would take to get one.
Imagine a home that could recycle two-thirds of the water it uses. No need to imagine.
BlackRock’s Rick Rieder takes a strictly pragmatic perspective on the broader consequences of parents not thinking long-term
It’s nearly graduation season, and that means it’s as good a time as any to weigh in on why you should care about rising college costs, even if paying for tuition and paying back student loans won’t ever be on your to-do list.
High rents and more affordable mortgages are not persuading more renters to buy, according to a new study.
Builder optimism, year-over-year gains suggest strong start to spring selling season
If you’re interested in buying a newly constructed house in the Washington region, you’ll find plenty of options in a variety of price ranges.
More signs have emerged that the current spring home-selling season is off to a far better start for the home-building industry than at this time last year.
It may seem like mortgage rates have been vacillating in a tight range, brushing up against 4 percent on the 30-year fixed and then falling back. Rates, however, are still considerably lower than they were a year ago.
A proliferation of data and new data analysis methods are changing the way builders buy, sell and develop vacant land, according to experts, and builders are cautiously optimistic that easier credit and more flexibility will help the new homes market rebound in 2015.
The housing market has been disappointing in the past year, with sales essentially flat. But there are signs that the market is starting to stir.
But while those numbers indicate a drop from 2013, the group still outperformed home sales nationwide, according to John Burns Real Estate Consulting.
Five years ago, Quadrant Homes churned out starter houses in the Seattle area with an average sales price of $269,000 and the marketing slogan, “More House, Less Money.”
The St. Charles Companies reported 250 new home sales for the year, the third year in a row of more than 200 new home sales contracts…
Baby boomers Julie Healy and her husband, Vladimir Leonov, have plenty of energy and mobility now. But…
Sales of New and Existing Homes Look Less Than Inspiring
The huge drop in gasoline prices is just the boost the housing market needs heading into 2015.
Laborers in the US energy industry are nervously watching crashing oil prices as they wonder what persistently low prices could mean for their jobs.
The share of 25- to 29-year-olds who are married is down, way down…
Generally speaking, the industry is experiencing a bright recovery and the outlook continues to be positive for real estate development and housing, though there is still a wide abundance of caution and avoidance of over-optimism regarding appreciation.
A venture led by developer Trumark Homes is paying roughly $200 million for 184 acres of raw land in the hill country east of the Bay Area in a sign that demand remains strong for land in the top housing markets.
One Wall Street firm has an idea that’s raising eyebrows: forgive some student debt for first-time homebuyers.
Joseph Beben wasn’t in the market for a house until he heard about a year-old community in suburban Phoenix where 10 homebuilders are offering buyers incentives such as swimming pools, built-in barbecues and subsidized mortgage rates.
Democrats in tight races have found a new villain this election cycle: student debt.
Just when you thought there couldn’t be any more problems Apple’s newest iPhone is creating the latest concerns.
Discussing how student debt is holding back first time home buyers, with Glenn Kelman, Redfin CEO, and CNBC’s Diana Olick.
In the wake of the FOMC meeting and the IPO hype, we face a week with little new information – the lull before earnings season. This sort of vacuum makes it difficult to predict the week ahead, but I have an interesting idea:
John Burns Real Estate Consulting CEO John Burns weighs in on the latest housing data.
Chris Noblejas, a former real estate agent, got hit by a double whammy during the housing crisis.
Aa groundbreaking ceremony in May, neighborhood activists and local government officials celebrated Ponte Vista, a development of 676 homes in San Pedro.
Demand for new homes slowed sharply during the first half, a development that threatens to reverberate beyond the housing market and throughout the broader economy.
Phoenix is a lesson in housing abuse. From boom to bust, to recovery to relapse, Phoenix housing is forever rising and falling, and now it is falling again. The rest of the nation should take notice.
Foreign Purchases of U.S. Residential Real Estate Jumped 35% Last Year
Cheryl Pate-Yow rushed to LGI Homes Inc.’s sales office south of Houston the day after receiving a mailer that said she could own a new home for $689 a month, only $24 more than rent on her one-bedroom apartment.
Retirement moves, which dropped sharply during the worst of the recession, are making a comeback.
For the first time since the U.S. housing crash, new condominium towers are sprouting in downtown Boston, Seattle and Los Angeles as developers bet on the return of the riskiest type of residential real estate.
Jaimie Adler said it’s getting cramped in the Lexington, Massachusetts, house she shares with her husband, two daughters and an au pair who occupies the former office. They’d sell, Adler said, if more homes were on the market in the Boston suburb.
John Burns Real Estate Consulting founder John Burns on the outlook for the housing market.
The housing rebound is fading. And it may be awhile before it gets a second wind.
D.R. Horton Launches Unit Focused on No-Frills Homes
Why are household formations so low? Because 1.2 million more adults live with their parents than just 8 years ago!
Homebuilders, don’t touch that bathtub! Keep your paws off the dining room too.
It’s hard to expect much of a lift for housing amid a dearth of fresh, real demand—not just demand from investors and speculators.
Construction and sales of new houses in the Washington region have rebounded since the Great Recession, when activity slowed considerably, and analysts are expecting both to continue rising this year.
Affordability Troubles Grow, Especially for First-Time Buyers
The world’s largest alternative-asset manager is among investors buying distressed properties in the Chicago area after private-equity and hedge-fund firms helped send property values surging in hard-hit markets such as Phoenix and Atlanta.
Heavy student-debt loads, persistent employment troubles stemming from the recession and newly toughened mortgage underwriting standards…
Think again. They have nothing on reluctant thirty-somethings.
Did home builders regain their pricing mojo in December?
Cities that are leading the nation in home building have land available for development, pent-up demand for housing, and strong economies and job growth.
Houston’s real estate market is one of the hottest in the world. Nothing this good lasts forever and some say job growth won’t be as strong next year. But the boom is not over yet.
The last three months – he is referring to September, October, and November – “have been characterized by slowing sales and a rising percentage of greedy sellers dropping price to generate activity.”
Good luck finding a new home to buy in Southern California these days-the supply of new home projects open and selling in Southern California is currently at a 20-year low.
Home prices in the Baltimore metro region continued a slow and steady climb in November, while sales grew sluggish, a seasonal trend exacerbated by economic uncertainty.
Will Miami’s market continue its current pace toward recovery? Yes. Overall, we expect Miami’s housing market to experience steady growth. However, lack of affordability and minimal developable land will constrain sales velocity and likely push home prices even higher. We are projecting steady price appreciation in Miami’s market…
John Burns Real Estate Consulting CEO John Burns on 440,000 new home sales in October.
A recent survey of builders carried out by John Burns Real Estate Consulting has revealed that sales of new homes in October fell by 8% compared to September, and by 6% compared to a year earlier. This is the second consecutive month in which this survey has shown…
Weak sales tallies in October mean home builders face a winter full of worry.
A monthly survey of builders across the U.S. by John Burns Real Estate Consulting, a housing research and advisory firm, has found that respondents’ sales of new homes declined…