Housing starts neared their postrecession high in October, with expectations that the new-home market will soon provide much-needed inventory relief, the Commerce Department reports.Starts, which reflect combined totals within the single-family and multifamily sectors, jumped 13.7 percent in October to a seasonally adjusted annual rate of 1.29 million. That’s the highest reading for new-home production since October 2016, when starts had reache
Freddie Mac has announced that it has rejoined the Low-Income Housing Tax Credit, a federal program that urges the investment of equity in affordable rental housing. The program supports the creation and preservation of affordable rental housing for low-income households. Freddie says it plans to close its first LIHTC investment in January 2018.“We are excited to resume investing in Low-Income Housing Tax Credits, which will expand our affordab
Home buyers say they want the latest design trends in their next property—but 70 percent admit to having outdated features in their current house, according to a new consumer survey by home builder Taylor Morrison. The most common of these outdated features are: Linoleum floors (40 percent) Popcorn ceilings (29 percent) Wood paneling (28 percent) Ceramic tile countertops (28 percent) Shag carpeting (19 percent) Avocado green appliances (8 perce
Ski towns aren’t just for billionaires and celebrities who can afford posh vacation homes. Realtor.com® researchers say there are plenty of options for everyday ski enthusiasts looking for budget-friendly homes.“People seeking the ski town lifestyle—but who don't want to spend a million dollars for a house—can choose a town that doesn’t come with the fancy name or famous ski resort,” says Christopher Steiner, founder of ZRankings,
Florida is bracing for a potential housing boom as tens of thousands of Puerto Ricans flee to the state, leaving behind the island nation that is still reeling from Hurricane Maria’s devastation. But there are few answers for how to accommodate these refugees’ needs and what impact the population influx will have on Florida’s housing, school districts, and government agencies, real estate experts say.Puerto Rico—home to about 3.4 million
A new niche in multigenerational living is emerging for siblings who want to stay close to one another. Architects and home builders told The Wall Street Journal they’re fielding more requests from siblings who want to live in separate homes on the same property. Sometimes, the homes are built on property inherited by parents, or siblings may pool their money to buy together. By maintaining detached residences, there can be less tension and
Home buyers say tight inventory and rising home prices are causing several negative trends in the housing market. According to ValueInsured’s latest Modern Homebuyer Survey, a quarterly report based on more than 1,000 responses, buyers say the following trends will leave the housing market in a weaker position: The “no inspection” trend: 58 percent The “offer sight unseen” trend: 57 percent The “co-buying with strangers”
Invitation Homes, Inc., announced Thursday that it completed its merger with Starwood Waypoint Homes. The combined company, which will operate under the Invitation Homes name, is now the largest single-family rental company in the U.S., managing a portfolio of about 82,000 homes nationwide.Still, the company’s portfolio represents less than 0.1 percent of the more than 90 million single-family homes in the U.S. and 0.5 percent of the nearly 16
In some ways, selling a parcel of land and selling a house are two different animals. Vacant land involves marketing its potential to an audience of developers and investors, and the main selling points lie in the location, size, and price, says Desare Kohn-Laski, broker-owner of Skye Louis Realty in Coconut Creek, Fla. “The principles might be similar in some ways, but there are still notable differences that make the endeavor challenging,”
As anniversaries go, it's a nerve-racking but inescapable one: It's been 10 long years since the widespread real estate crash that precipitated the Great Recession, and all the misery that followed in its wake. So it seems like the perfect time to take a giant step back, peruse and analyze all of the data, and assess what has really happened to the American housing market in the decade since.So where are we, really?Ever-steeper home prices:
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