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Homebuyers Brace for Big Changes Ahead as Inventory Climbs and Sellers Slash Prices

Pro Builder

metros climbed 41% in July, especially in popular cities like Phoenix, Austin, and Raleigh, where inventory rose 158.7%, 154.5%, and 137.5%, respectively. The most recent $449,000 median list price is a steep 16.6% The number of homes for sale in the 50 largest U.S.

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Home Values Fell Slightly in November, but Would-Be Buyers Kept Their Distance

Pro Builder

While formerly red-hot markets like San Jose, Raleigh, and Phoenix saw the most significant price declines of (-3.3%), (-2.5%), and (-1.6%), respectively, Florida continued to post the highest year-over-year home value appreciation in Miami (+22.8%), Tampa (+18.2%), Orlando (+17.6%). from the end of October, Zillow reports.

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Monthly Mortgage Payments Outpace Rental Costs Nationwide

Pro Builder

In the Raleigh-Durham area in North Carolina, for example, the cost of owning was 42 percent higher than renting in April. and Phoenix. Nationally, the cost of owning is 31 percent higher than renting, but the disparity is greater in metropolitan areas where housing prices have surged, the report said. New-Home Sales. Affordability.

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September Market Growth Suggests Appreciation Balance

Pro Builder

appreciation in Raleigh. in Phoenix to a comparatively “sluggish” rate of 13.2% Monthly growth in these markets ranged from a low of 0.4% in San Jose to 3.0% Annual appreciation in large markets was in the double digits across all 50 markets, ranging as high as an eye-watering 44.9% in Austin and 32.2% in New Orleans. . Financing.

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Austin, Denver, New York Are Top Startup Ecosystems

Business Facilities

Rounding out the top 10 in BF’s new Startup Ecosystems category are Houston, San Jose, Orlando, Nashville, Atlanta, Raleigh-Durham and Salt Lake City, respectively. Phoenix, San Antonio, Fort Worth, Seattle and Charlotte are the top five Fastest Growing Cities by population, respectively, in BF’s 15th Annual Rankings Report.

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Rental Market Recovers Faster Than Predicted

Pro Builder

Rents in nine of the nation’s 50 largest metros — Tampa, Riverside, Las Vegas, Jacksonville, Memphis, Phoenix, Virginia Beach, Atlanta and Miami — are more than 10% higher than their projected rent levels for July based on pre-pandemic trends, topping out at 15.6% higher in Tampa. Read More. . Multifamily. Market Data + Trends.

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Construction Jobsite Safety: Strategies and Resources for Worker Well-Being

Pro Builder

Gary Hill, executive director of the Job-Site Safety Institute (JSI) based in Raleigh, N.C. So far, more than a half-dozen builders and 10 of the area’s largest trade contractors have rallied around the Phoenix Job Conduct (PJC), a set of best practices that, in some cases, goes beyond OSHA recommendations and regulations, Eschliman says.

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