New single-family home sales in April rose 2.3 percent from the previous month, according to a report released today by the US Census Bureau.
Sales reached a seasonally adjusted annual rate of 454,000 in April, up from the revised rate of 444,000 in March. The median sales price of new houses sold in April was $271,600, and the average sales price was $330,800. Read more
Whenever national house prices are released in Canada, comparisons are always made to the United States’ rebounding home values. But what if Canadians and other international buyers were boosting the American market?
A new study by National Association of Realtors found that between April 2011 through March 2012, foreign buyers accounted for $82.5 billion, or 8.9 per cent, of the $928 billion spent on residential real estate in the United States. Read more
Mixed development is in: more than half of Americans prefer neighborhoods with easy access to stores and public transportation, according to a new study released by the Urban Land Institute.
ULI partnered with Belden Russonello Strategists to conduct a statistically representative survey of 1,202 adults living in the United States.
They discovered that 62 percent of Americans planning to move in the next five years would prefer to settle in mixed-use communities, which are defined by shorter commutes, smaller homes, proximity to retail and offices, variety of incomes, readily available public transportation and variety of homes. Read more
On the path to homeownership, Generation Y faces three main roadblocks – and they’re not necessarily the same issues their parents experienced when buying their first home.
TD Canada Trust published new research that highlights the differences in the challenges Millennials say they face as first time buyers compared to the challenges Boomers recalled from when they first entered the market.
The findings point to big shifts in Canadian real estate in the last 30 years. Read more
Earlier this month we reported that Frank Margani was set to leave MCAP, an independent mortgage financier, for Fortress Real Developments.
Today it was made official, as Fortress circulated a press release announcing that Margani was joining their team as Executive Vice President, Strategy and Development.
He will assume his role at the rapidly expanding Richmond Hill-based real estate developer on May 13th.
“Frank is one of the most sought-after experts in the industry,” said Jawad Rathore, President and CEO, Fortress Real Developments. ”His knowledge of high value real estate development projects and underwriting will help Fortress strengthen our developer and builder client relationships and expand our footprint in Canada.” Read more
Though Canadians are often characterized as a hardy, flannel-wearing, winter-loving lot, it’s no secret that countless citizens migrate to warmer climes during the colder parts of the year.
And a recent report from the Bank of Montreal suggests that a sizeable amount of the population is wintering in Florida in particular: 500,000 Canadians have flocked south and purchased property in the sunshine state.
But not all Snow Birds are the same. Sure, they might all arrive on the Gulf Coast seeking a reprieve from parkas and snow ploughs, but many of the similarities end there. Some breeds come for the Miami night life while others plan to retire in the warmth of the sun somewhere in the Keys. Read more
Real-estate regret? It happens. To 52 percent of people, to be precise.
With inventory dipping to almost a 12-year low and spring housing fever in effect, buyers can experience waking-up-in-Vegas remorse — although not as often as renters do, according to Trulia’s most recent consumer survey.
Harris Interactive on behalf of Trulia surveyed 2,130 adults ages 18 and older; of the people in the study, 1,370 were homeowners and 706 were renters. Read more
US homebuilder confidence fell for the third straight month in April, driven by increasing costs for building materials and concerns about the supply of developed lots and labor.
Builder confidence in the market for newly constructed, single-family homes dropped two points to 42 this month, according to the National Association of Home Builders/Wells Fargo Housing Market Index, released today. Read more
The median price of a home in Washington, DC reached an all-time high last month, according to data by RealEstate Business Intelligence, an MRIS company.
The median sale price rose to $460,000 in March, a year-over-year increase of 13.6 percent. The overall region’s median sale price also experienced gains, with an annual increase of 8 percent from $345,000 in March 2012 to $372,500 last month. Read more
A good home is hard to find — and as the housing market gradually recovers, buyers are facing a lack of inventory.
First, the good news: US housing starts rose nearly 28 percent from February 2012 to February 2013 to a 917,000-unit annual rate, the Commerce Department announced this week. Permits for construction increased 4.6 percent to an annual rate of 946,000 units, the fastest pace since June 2008. Read more