article thumbnail

With Limited Inventory, Buyers Are Competing for an Aging Housing Stock

Pro Builder

With Limited Inventory, Buyers Are Competing for an Aging Housing Stock. As a result, inventory is disappearing, and buyers are facing record high prices and a tight competition for a limited supply of existing homes rather than new construction. Wed, 02/09/2022 - 10:21.

article thumbnail

Remodeling Demand Surges as Homeowners Choose Not to Sell

Pro Builder

Rising mortgage rates and waning inventory are creating a financial incentive for current homeowners to stay in place and remodel . . Home equity per owner reached a record high of $315K after an inflation-adjusted gain of $95,000 in 2019, incentivizing homeowners to build personal wealth in a high-cost market. .

professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

An In-Depth Analysis of 2020’s Buyers and Sellers

Pro Builder

Survey results come from buyers and sellers who purchased sometime between July 2019 to June 2020. Notable changes include the drop of first-time homebuyers, which dipped to 31% from 33% in 2019. Tightened inventory is affecting the home search process of buyers. This is the lowest share since 1987. Read More. . Demographics.

article thumbnail

10 Suburban Escapes With the Hottest Home Prices

Pro Builder

from October 2019 to October 2020. All that activity, along with skimpy inventory, has led to a price surge. And while these areas have the fastest rising home prices, their price per square foot remains at a good value. Single-family homes in Lakewood, NJ increased by 47.6% The median listing price of a Lakewood home is $309,000.

NJ 52
article thumbnail

Are There Lessons From the Great Recession for the COVID-19 Pandemic?

Pro Builder

expanded into markets in Iowa, Alabama, and South Carolina, and became a shareholder of American Southern Homes after it acquired Grayhawk Homes in November 2019. . “If In the last quarter of 2019, he looked at his spec home inventory and decided he needed to move some units. 2] Lead the Market / Save the Contract.

article thumbnail

Builder of the Year Ivory Homes' Innovation Agenda

Pro Builder

1 home builder in terms of building permits and construction value and reaching the milestone, in 2019, of 20,000 homes sold (right). Builders that are laser-focused on one or two master planned communities already in the works, he says, typically neglect backfilling their land inventory fast enough. Photos: courtesy Ivory Homes.

article thumbnail

New York Incentives and Workforce Development Guide

Buisness Facilities Contributed Content

Loans may be used for, but not limited to: upgrading display lighting, advertising and promotion, payroll for additional staff and training, purchase of computers to enhance inventory control, and the purchase of display cabinets, furniture and fixtures. Borrowers must have at least a 10% equity interest in the project or business.