News

Home prices reached new all-time highs in March as every major metro noted month-over-month price increases.

The pace of new-home sales accelerated in April on a month-over-month and year-over-year basis as three in five builders reported demand is either on track or stronger than they expected, according to the latest Zonda New Home Market Update.

Single-family housing starts ticked up 0.4% from March to a seasonally adjusted annual rate of 1,031,000 in April, according to the U.S. Census Bureau and Department of Housing and Urban Development

While many renters fear the longer-term consequences of renting on their financial futures, they are simultaneously unable to access the housing market due to high interest rates and prices.

In the first quarter of 2024, 93% of metros, or 205 out of 221, recorded home price gains, according to the National Association of Realtors’ latest quarterly report.

Zonda’s New Home Lot Supply Index (LSI) for the first quarter revealed tightening of supply across the nation for both quarterly and annually. An increase from 22 markets in the fourth quarter of 2023, the LSI tightened quarter over quarter in 25 of Zonda’s select markets.

For the third straight meeting in 2024, the Federal Reserve Open Market Committee (FOMC) elected to hold rates steady.

Over 70% of industry experts—including designers, remodelers, and kitchen and bath specifiers—agree that demand for sustainability in kitchen and bath design will increase in the next two years. As homeowners and buyers become more aware of sustainable design, 54% believe it will become a “must-have” in the future, according to the 2024 National Kitchen & Bath Association (NKBA) Sustainability Report.

Notable inventory gains, a surge of new listings and increased activity are setting the stage for the customary peak homebuying season.

Energy efficient features—and the cost-saving benefits—are expected by today’s new-home buyers. From Energy Star certified appliances to low-E windows, new construction homes are equipped with products and materials that ensure home buyers do not have worry about wasted energy or high utility bills.

Homebuyers seeking to put down roots in Texas are discovering a new masterplanned community with a strong focus on people, community, and building neighborly connections.

Indigo is based in Fort Bend County and broke ground on its first phase in early 2023. The neighborhood will be 235 acres and is surrounded by cities such as Richmond and Sugar Land. The centerpiece of the community is a working farm (42 acres of the development are devoted to agricultural needs). There’s also a 25-acre lake and a 12-acre mixed use town center.

According to a report commissioned by Redfin last month, over one-quarter of respondents (28 percent) were unsure of the amount their agent was paid. Seventeen percent didn’t know how the amount was calculated, and 19 percent had no idea who paid the agent. The survey went out to almost 3,000 renters and owners, and the results zeroed in on those who had bought a home in the last year and used an agent (approximately 120).

The recent spike in mortgage rates has had a more muted effect on Washington D.C.’s new-home sales than when they started their climb from record lows in 2022.

Despite rates shooting past 7%, the average new-home sales rate has been higher than a year ago, suggesting home buyers have adjusted to the new normal and are budgeting a larger portion of their income to housing.

For the last four years, Trex and REI Co-op have worked together to repurpose plastic film waste gathered from the specialized outdoor retailer’s shops and fulfillment centers. The material is then used to make Trex’s composite decking, a long-lasting and environmentally responsible option for homeowners.

According to the latest report from the National Association of Realtors (NAR), millennials have snatched the largest share of the housing market.

In the January Zonda Market Ranking, the metro area was significantly overperforming compared with its long-term historical average. Home builders are ramping up new construction, and starts activity has improved over the past six months.