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

Pro Builder

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). 265%), and Tampa, Fla. In fact, the size of BFR homes has also been increasing.

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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. higher in Tampa. Inventory Rebound Continues. For-sale inventory, while still down 27.6% lower than they are today. Read More. . Multifamily.

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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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January Home Prices Reveal an Uncharacteristic Winter Buying Season

Pro Builder

Rising mortgage rates coupled with low housing inventory created a competitive market for buyers, who went toe to toe for a small share of high-priced homes. Cities like Phoenix and Tampa recorded year-over-year gains of more than 30%, while other popular Sun Belt metros like Las Vegas and Dallas saw a 25% surge in home prices.

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Land Demand ‘On Fire’ Across the Country

Pro Builder

While some markets such as Phoenix, Tampa, and Riverside-San Bernardino are seeing the most demand, land demand remains strong across the country. Builders that start many speculative homes are selling the most homes, and non-spec builders are raising prices because they do not have inventory. Read More. . Land Planning.