Are you in the market for a new house? If so, you might be thinking about building your own house. It can be exciting to go through the process of building a house, as you will be in control of just about everything. On the other hand, how much is it going to cost you to build a house? You need to make sure you have an estimate before you decide to move forward with your project. What Is The Actual Cost Of Building A House? First, it is important to go through the actual itemized list line by line. You will need to purchase land if you are interested in building a house. Then, you need … [Read more...]
Should You Consider Purchasing A Newly Built Home?
If you have been in the process of looking for a home for a long time, you understand just how difficult it has been. You may have considered building your own house, but after seeing the bidding wars for land before you even start building, you may have crossed newly built homes off your list. Now, there are a few reasons why you should consider adding new homes back to your search. There Is An Elevated Supply Of Newly Built Homes Right now, there is an elevated supply of newly built homes. Even though the overall inventory of available houses continues to lag behind, new … [Read more...]
The Impact Of The New Housing Construction Boom
New housing construction starts reached a record high in December 2019 going up 16.9%. This represents a seasonally-adjusted annual rate of 1.608 million homes last December, which beat the record set in December 2006, 13 years ago, according to CNBC. This was surprising news, as predictions made before the end of the year were that housing starts in December would reach only 1.375 million homes. Experts say the current housing construction boom in the United States gets its support from the easy mortgage financing available and positive consumer expectations about the economy. What Does The … [Read more...]
What’s Ahead For Mortgage Rates This Week – September 10th, 2018
Last week's economic news included readings on construction spending, along with public and private-sector jobs growth. The national unemployment rate, weekly reports on mortgage rates and new jobless claims were also released. Construction Spending Rises in July July construction spending ticked up to 0.10 percent from June's negative reading of -0.80 percent. Year-over-year, construction spending was 5.80 percent higher than for July 2017.Public-sector construction accounted for most of the growth and increased by 0.70 percent as private-sector construction projects decreased by -0.10 … [Read more...]
What’s Ahead For Mortgage Rates This Week – June 6, 2016
Last week's housing related news was limited to Construction Spending and Freddie Mac's mortgage rates survey, but labor reports suggested an economic slowdown may be in the works. Construction Spending Slips in April, Mortgage Rates Mixed According to the Commerce Department, overall construction spending slipped in April to -1.80 percent as compared to March's reading of +1.50 percent and May's expected reading of +0.70 percent. Residential construction spending was 1.50 percent lower, which doesn't help ongoing shortages of available single-family homes. Builders have repeatedly cited labor … [Read more...]