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In Pursuit of Affordability, Homebuyers Are Heading to Cities With the Biggest Climate Risks

Pro Builder

Cities such as Phoenix, Las Vegas, and Miami are attracting the most interest, but according to Insider , they’re also home to some of the biggest climate risks in the country, from droughts and heat waves to flooding and hurricanes. Read more Housing Markets Environmental Affordability Housing Markets

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Home Prices Rise at the Fastest Rate on Record

Pro Builder

After nearly two years of relentless gains, home-price growth gradually decelerated in the fall of 2021, but constrained inventory and uninhibited demand led to sharp price increases at the start of 2022.

Tampa 105
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Rental Market Recovers Faster Than Predicted

Pro Builder

There’s rebalancing in the for-sale market as well with inventory increasing for the third consecutive month and home value growth slowing in many of the largest markets. Inventory Rebound Continues. For-sale inventory, while still down 27.6% If there had been no pandemic, Zillow predicted rents would be 2.9% higher in Tampa.

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A Record Share of U.S. Homebuyers Are Relocating for Affordability

Pro Builder

Miami was the top destination for migrating homebuyers in January and February, followed by equally sunny metros like Phoenix, Tampa, FL, Sacramento, CA and Las Vegas, Redfin reports. With out-of-towners driving up home prices in Phoenix, a lot of local first-time buyers have bowed out of the market,” [Heather] Mahmood-Corley said.

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Single-Family Rent Prices Are Surging to New Highs Across the U.S.

Pro Builder

year-over-year in January, and cities like Miami, Orlando, and Phoenix are seeing the brunt of the nation’s growth with price increases of 38.6%, 19.9%, and 18.9%, respectively. and more gains are still to come as unsuccessful homebuyers seek out a slight boost in build-for-rent inventory in the rental market.

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High Single-Family Rent Brings Investors Back Into the Market

Pro Builder

Miami led the way with a 21% gain, followed by Phoenix at 19% and Las Vegas at 15%. The ongoing preference toward more living space — and slim for-sale inventory — is forcing would-be buyers back into renting, putting significant strain on the single-family rental market.”.

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Top 25 Finalists for Ivory Innovations' Housing Affordability Prize

Pro Builder

Diamond Age | Phoenix, Arizona Diamond Age’s mission is to get first-time homebuyers into their first home faster, using 3D printing and advanced industrial-scale robotics—AKA—building robots bigger than houses to build houses.