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4/21/2021 06:07:00 PM
Some interesting housing color from mid-April around the country home builder channel check. Bunch of market commentary to follow.will try to hit most top markets.
#SaltLakeCity home builder mid-April color: “Still have 10x buyers to available homes to buy. Went to highest/ best offer system March 1st & offers over asking price are shocking. Most offers are 10+% over ask, that s after raised base prices $10K to $20K+ with each release.”
#Austin home builder mid-April color: “Super high demand. Volume controlled with release process, otherwise would be unbearable. Some price increases are $100K between releases.”
#Dallas home builder mid-April color: “Limiting sales in 100% of communities. Can’t sell ahead as costs are rising too quickly. We may stop selling and become a spec builder until costs stabilize.”
Cerberus, Invitation Homes Squeeze Out Normal Homebuyers businessinsider.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businessinsider.com Daily Mail and Mail on Sunday newspapers.
Advertisement The Housing Market s High Risk, High Reward
A projected strong economic recovery, demographic tailwinds and an accelerated pivot to remote work allows buyers and renters to live in locations where they can get more home for their money. April 19, 2021
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The housing market has reached the high risk/high reward part of the cycle, and John Burns Real Estate managing principals Ken Perlman and Lesley Deutch call out the opportunities that can lead to those rewards
For instance:
Risk: Inventories are at all-time lows resulting in massive home price appreciation that is threatening affordability. Public builders have 10% fewer communities to sell from than during this time last year, and the number of inventory homes for sale in actively selling neighborhoods is dwindling. Resale home inventories are down 45%. The result is historic home price appreciation.
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