Dwindling supply, strong demand push new home prices to record

Dwindling supply, strong demand push new home prices to record

In both cases, the figure was the highest in the 20-plus years of data Cross has compiled, according to Erik Doersching, the firm’s president. The total price buyers paid, $438,307 on average for houses and $590,283 for condos or townhouses, were not records, as both types of housing have been selling at smaller square footages

New Home Construction Keeps Sinking As Housing Market Demand ‘Quickly’ Dries Up

New Home Construction Keeps Sinking As Housing Market Demand ‘Quickly’ Dries Up

Topline New housing starts unexpectedly plunged more than economists projected in June as home builders grappled with the effects of rising interest rates curbing demand for new homes, according to data released Tuesday, adding to signs of an abrupt turnaround in the booming housing market. Plummeting mortgage applications suggest construction of single-family homes could crater

72Sold founder Greg Hague uses buzz, demand to push real estate sales

72Sold founder Greg Hague uses buzz, demand to push real estate sales

He is a second-generation real estate man who had achieved success that afforded him a comfortable life, complete with travel adventures and his own plane that he landed on remote Mexican beaches. But 72Sold founder Greg Hague credits a news article about technology titan Apple with inspiring his latest venture that aims to push his

Tom French communities in high demand

Tom French communities in high demand

The story and a half Landon II plan at Covington Creek was customized to feature a large kitchen with farmhouse style details. SUBMITTED PHOTO With over 40 years of experience, Tom French has developed a reputation for building superior custom homes, plus developing maintenance-provided and single-family neighborhoods. Interest has been strong in all of French’s

New residential developments underway answer New Bern housing demand

New residential developments underway answer New Bern housing demand

As the City of New Bern starts work on a redistricting plan, the Board of Aldermen looked at all of the residential developments currently under review or under construction at its June 29 meeting.  From 2012, New Bern’s last redistricting, to 2020 the City issued 1,794 housing permits, both single-family and multi-family. As the housing stock dwindled

Lumber prices finally are cooling a bit as lumber mills ramp up production to meet the frenzied demand

Lumber prices finally are cooling a bit as lumber mills ramp up production to meet the frenzied demand

Home prices are soaring, pushed higher by a combination of record-low mortgage rates, strong demand from buyers and a lingering lack of new construction. In 2021, a new factor put pressure on home prices: Month after month, lumber prices jumped to new highs. Lumber costs soared more than 30 percent from January through May. However,