Existing home sales explode, up 27% from last year



Existing home sales have risen for the fifth consecutive month as the housing industry continues to show its resilience in the face of the COVID-19 pandemic. The National Association of Realtors reported Thursday that homes sales are up an astonishing 27% from the same time one year ago. In addition, it was reported this week […]

Builder pledges to plant 1 tree for every square foot it builds



It’s well known that having more trees can counteract the effects of carbon emissions, and so one builder in the Northeast says it’s planting more of them around its new developments. Moreover, it’s urging more developers to copy its lead. Ziman Development launched its One Tree Pledge last week, which is a sustainability effort to […]

Builders say cheaper lumber could relieve rising home prices



The cost of new homes has been steadily climbing due to rising lumber prices, but a new report says that relief could now be on the way. That’s because lumber futures are showing signs of falling, according to builders recently surveyed by Zonda, a research firm formerly known as Meyers Research. That could be a […]

Builders are facing supply shortages, so some are changing their sales tactics



Building projects are facing longer timelines due to a shortage of supplies such as appliances, flooring materials, hardware and lumber, and builders are finding some clever ways to pass the associated costs onto home buyers. Builders have reported difficulty in securing appliances such as air conditioners, refrigerators and washing machines for new homes due to […]

Rising new home starts still can’t meet demand, experts say



New home building starts were up more than 8% at the start of October compared to one year ago, but the increase is still not enough to meet demand, according to Lawrence Yun, chief economist of the National Association of Realtors. Yun noted that housing starts in September were at a 1.42 million unit production […]

Researchers call for more fire-resistant homes



Researchers are looking into ways to protect homes from wildfires as millions of acres across the U.S. are once again being burnt out of existence. The Insurance Institute for Business & Home Safety’s research team is focusing on what causes homes to ignite during a wildfire, and it found that 90% of homes were first […]

Home builders target less densely populated areas



The National Association of Home Builders says that building firms have shown a notable suburban shift in recent months, with small metro suburbs the only region to post a second-quarter gain in new single-family home construction in the last quarter. Home construction in small metro suburbs has increased 10.6 in the last quarter on an […]

Rising lumber costs add $14K to the price of new homes



The average price of a new single-family home has risen by 14% due to a spike in the price of software lumber, according to a report by the National Association of Home Builders. The report said that new single-family home prices have risen by $14,116 since April 17, while new multifamily homes have increased in […]

Zillow adds builder ratings and reviews to its platform



Zillow last week announced a new feature it’s adding to its platform called Builder Ratings and Reviews. The new information will be displayed on builder’s profiles, community pages and paid new construction listings on Zillow. The reviews will come from homeowners surveyed shortly after they move in to a new home, who will be asked […]

Agents look to build alliances with new home builders



Home builders are increasingly looking to cement long-term alliances with real estate agents. Builders have become aware that they need a relationship with real estate professional to bring more qualified home shoppers to their sales offices. And with resale inventory being limited at present, agents too know they need to work with builders to give […]