Tag: home prices

Fewer Builders Cutting Home Prices as a Result of the Pandemic

Filed in Economics by on June 25, 2020 6 Comments
Fewer Builders Cutting Home Prices as a Result of the Pandemic

In a further sign that the housing rebound is gaining momentum, fewer builders are lowering home prices as a result of the COVID-19 pandemic. Last month’s HMI survey revealed that just 22% of builders nationwide cut prices in April 2020. This month’s survey reveals that the share of builders reducing prices to bolster sales dropped even lower in May, down to 15%. For historical context, 49% of builders cut prices in March 2008, in the midst of the last housing recession.

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Survey: 22% of Builders Lowered Prices in April

Filed in Disaster Response, Economics by on May 20, 2020 12 Comments
Survey: 22% of Builders Lowered Prices in April

In recent weeks, there has been anecdotal evidence about builders lowering home prices in the wake of the COVID-19 pandemic, but the latest NAHB/Wells Fargo Housing Market Index (HMI) survey provides factual data: Nationally, about 22% of builders cut home prices in April 2020 in order to bolster sales and/or limit cancellations.

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$1,000 Makes a Big Difference in Housing Affordability

Filed in Economics, Housing Affordability by on January 29, 2020 0 Comments
$1,000 Makes a Big Difference in Housing Affordability

A recent study from NAHB determined that for every $1,000 increase in the cost of today’s median U.S. home price, 158,857 American households are “priced out” and would no longer be able to afford it.

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New Study Examines Relationship Between Energy-Efficient Homes, Sales Price and Loan Performance

Filed in Sustainability and Green Building by on October 28, 2019 6 Comments
New Study Examines Relationship Between Energy-Efficient Homes, Sales Price and Loan Performance

Freddie Mac released a new study, “Energy Efficiency: Value Added to Properties & Loan Performance,” to provide insight on how lenders may be able to factor energy-efficiency rating systems into the mortgage underwriting process. The study tracked property sale prices and loan default rates to explore if energy-efficient features could increase home value and provide less financial stress to owners based on decreased utility costs.

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Home Price Appreciation Slows in November

Filed in Economics by on January 29, 2019 0 Comments
Home Price Appreciation Slows in November

Home appreciation increased by 5.2% in November, down from 5.3% the previous month, according to the latest S&P CoreLogic Case-Shiller National Home Price Index released today.

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Small Rise in Home Prices and Mortgage Rates Has Big Effect on Affordability

Filed in Economics by on January 8, 2019 4 Comments
Small Rise in Home Prices and Mortgage Rates Has Big Effect on Affordability

It only takes a small uptick in home prices and mortgage rates to price more than 1 million potential home buyers out of the market for a median-priced home. For example, $1,000 might sound insignificant when compared to the overall price of a new home. But that relatively small amount has a surprisingly big impact on affordability.

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Housing Prices — Slowing to Sustainable Growth

Filed in Economics by on July 1, 2015 0 Comments

In a Eye on Housing analysis of the latest monthly home price data by the Federal Housing Finance Agency and the Case-Shiller U.S. Home Price Index, NAHB economist Jing Fu observes that the median sales price of new and existing single-family homes tells a similar story: rapid acceleration during the housing boom, sharp declines during the bust and steady recovery since 2012.

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Where are Home Prices Headed?

Filed in Economics by on April 8, 2015 1 Comment
Where are Home Prices Headed?

Nationwide home prices rose registered annual growth of 4.5% and 5.1%, respectively, according to two major indices. Meanwhile, most mortgage executives and a plurality of consumers believe that prices will continue to rise this year, according to a recent national survey.

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New NAHB Study: How Fees Force Buyers Out of the Market

Filed in Codes and Standards, Economics by on August 4, 2014 16 Comments
New NAHB Study: How Fees Force Buyers Out of the Market

Each $1,000 increase in the cost of a new home price forces 206,000 prospective buyers out of the marketplace, according to a new study from NAHB Economics. The number of households affected varies across states and metro areas and largely depends on their population, income distribution and new home prices. Among the states, the number […]

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New Home Prices by Metro Area and State

Filed in Economics by on July 23, 2014 0 Comments
New Home Prices by Metro Area and State

In response to frequent requests from our members, NAHB Economics recently released its estimates of new single-family home prices by state and metro area. The most expensive new single family homes are built and sold in three Northeastern states: Connecticut, Massachusetts and New York – with their respective median new single-family home prices of $491,425, […]

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