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Single Family Build-For-Rent Homes Reach All-Time High

Pro Builder

Prior to 2020, there was an average of only 6,000 BFR homes built annually. Phoenix, Ariz., For example, Phoenix leads this list as well with 6,000 of its BFR units being built in the last five years. Dallas comes behind Phoenix again, doubling its BFR homes stock (currently, 7,843 units) from 2017 (3,888 units).

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Land Demand ‘On Fire’ Across the Country

Pro Builder

Mon, 11/23/2020 - 10:01. Nearly all top land brokers reported their markets were experiencing intense demand in the third quarter of 2020. While some markets such as Phoenix, Tampa, and Riverside-San Bernardino are seeing the most demand, land demand remains strong across the country. Land Demand ‘On Fire’ Across the Country.

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May Home Price Increase Breaks S&P Case-Shiller Record

Pro Builder

higher in May 2021 than in May 2020, up from April’s 14.8% compared to May 2020 levels while the 20-city composite increased 17%, reports CNBC. Every metro tracked in the 20-city composite recorded price increases while Phoenix, San Diego, and Seattle posted the highest annual gains of the 20 cities. Phoenix home prices were 25.9%

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The Buying Boom Is Slowing, and Experts Say a Housing Correction Could Follow

Pro Builder

New home sales in April and May dropped 19% to their lowest level since 2020, and sellers are responding. As waning inventory and surging demand put pressure on overvalued housing markets, prices will continue to fall over the coming year, Fortune reports. Among those 392 markets, 149 are overvalued by at least 25%.

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Single-Family Home Prices Up 14.6% in April Nationwide

Pro Builder

CNBC reports that the cities with the highest year-over-year price increases were Phoenix, San Diego, and Seattle, all of which posted more than 20% price advances. The inventory of homes for sale rose slightly in May compared with April, but was still 21% lower than May 2020, according to the National Association of Realtors.

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Affordable Homes are Increasing in Value Fastest Nationwide

Pro Builder

Boise, Phoenix, and Spokane experienced the fastest annual growth for affordable homes. Among a wider pool of the nation’s 100 largest markets, bottom-third home values grew the fastest year-over-year in February in Boise (27.2%), Phoenix (19.4%) & Spokane (18.4%). For example, the bottom third of the market in Cleveland grew by 13.1%

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Builder of the Year Ivory Homes' Innovation Agenda

Pro Builder

The builder reported 1,323 closings in 2020, raising its ranking among Pro Builder’s 2021 Housing Giants to No. That amenity, along with water conservation measures, became a standard feature for all Ivory Homes in 2020. Also, starting in 2020, every home is pre-wired for an electric vehicle charging outlet.