With unprecedented home prices and generationally high mortgage rates, more people are looking for rental options — and not apartments — but single-family homes.You've probably seen some of these communities throughout Central Florida. WESH 2 spoke with developers and renters about why this growing trend is here to stay.“I previously resided in New York and came to Florida for the good weather, more family-oriented environment, fresh air, s
Newly built homes available on the market rose to 480K, representing a supply of 9.1 months at the current sales rate, up from an 8.5 month supply in March, according to US Census Bureau data New-home sales fell in April as inventory of existing homes increased modestly and inventory of newly built homes hit their highest level since November 2022, according to data released Thursday by the U.S. Census Bureau.Sales of newly built single family h
Preventative measures help homeowners mitigate the risks and costs of weather-related damage while increasing sustainability.In recent years, news reports have updated homeowners on climate change and disasters, from hurricanes that cause catastrophic flood and wind damage to snowstorms that lead to ice dams and frozen gutters. Wildfires, hailstorms and drought also top the list of damage-causing disasters. One map from the National Oceanic and A
New-home sales up nearly 9%, boosted by strength in the NortheastThe numbers: Sales of newly built homes in the U.S. rose in March, posting the biggest increase since December 2022.Home buyers snapped up new homes, pushing sales to the highest level since September 2023, just before the 30-year mortgage rate began its trek to 7%. U.S. new-home sales rose 8.8% to an annual rate of 693,000 in March, from a revised 637,000 in the prior mon
The spring housing market has gotten off to a sluggish start due to higher mortgage rates, but new-home sales appear to be a bright spot.Sales of newly built single-family homes jumped nearly 9% in March, reaching their highest level since last fall, the Commerce Department reported Tuesday. With limited inventory options in the resale market, more buyers are eyeing new construction.Home builders are showing more willingness to offer incentives,
Newly built properties are not flawless. Bringing in an inspector for multiple checkups during construction can solve problems early.New-home buyers may want to bring an inspector into the construction process earlier and at multiple intervals—such as when the foundation is poured and again before the walls are sealed.Adam Long, president of HomeTeam Inspection Service, which has 200-plus offices nationwide, says “phase inspections” can off
Permits for multifamily development dropped in 70% of metros in 2023, according to Point2’s annual Housing Construction Report.The past year saw over 1.4 million new homes added to the national housing inventory. Despite the 4% growth in units compared to 2022, both the number of new homes under construction and the number of permits dropped year-over-year (YOY).Permitting for new housing has declined for the second year in a row—down 11
New-home sales increased 1.8% to a seasonally adjusted annual rate of 661,000. Economists say the report, alongside improved builder sentiment, shows promise for a robust springNew-home sales improved across the board in January, according to the U.S. Census Bureau and the Department of Housing and Urban Development on Monday.New-home sales, which include when a homebuyer makes a deposit or signs a sales agreement, increased 1.8 percent year
From ecosystem conservation to “new” darker neutrals in exterior paint, we look at the trends set to take hold in the industry this year.Staying abreast of what’s new and innovative in design and real estate is important, not to be trendy but to learn about innovative materials, systems and products to live more sustainably and benefit the planet. Also, new uses for rooms can maximize square footage and our surroundings to add joy to our li
The number of apartment spaces being created in office buildings across major cities this year has risen to over 55,000, four times higher than the 12,100 under conversion in 2021, according to a new report.The 55,339 office-to-apartment makeovers scheduled for this year mark a record high, according to the RentCafe report released Monday. The report cites surging demand for residential space and nearly $150B in office
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