Home prices are rising across the country and the prices for new homes in particular may increase significantly in the near future. Economist predicts newly-built homes could see a 9 percent increase in price by the end of the year.
“Here's what's happening: Land values are going up very fast right now in prime locations, what we call the ‘A’ locations,” Hunter explains. “In the best A (and B) markets, we expect prices to rise by 11 percent to 15 percent. Builders are desperate to buy lots, which in some cases are 30 percent to 50 percent higher than last year.”Home Prices Up 10% To 13%
Homebuyers Locking In Affordability
Fully aware both home prices and mortgage interest rates are on the rise, home buyers are hedging their bets with fixed rate mortgages (FRMs) and sizable down payments to lock in affordable housing.
Homebuyers Locking In Affordability
Fully aware both home prices and mortgage interest rates are on the rise, home buyers are hedging their bets with fixed rate mortgages (FRMs) and sizable down payments to lock in affordable housing.
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