The number of new homes that broke ground during the month of July increased from the month before, according to new numbers from the U.S. Census Bureau and the Department of Housing and Urban Development. Housing starts were up 2.1 percent to a seasonally adjusted annual pace of 1.21 million units, the highest level since February.
The housing market is likely to see its best year of sales in a decade, according to a new outlook from Freddie Mac. In fact, the group's forecast calls for sales to reach 6.04 million by the end of the year. Sean Becketti, Freddie Mac's chief economist, says the housing market still has some challenges but is far better balanced than it was even just a few years ago.
Join us at the 2016 NIBCA Parade of Homes! Something special is happening at The Trails community in Coeur d'Alene, come and see Architerra Homes, Where Life Happens...
One way to determine the health of any particular housing market is to gauge how many new homes are being built in the area. That's because new homes add inventory to the market, which plays an important role in moderating price increases and giving buyers more options when looking for a house to buy.
In June, sales of newly built, single-family homes reached their highest level since 2008, according to new numbers from the U.S. Census Bureau and the Department of Housing and Urban Development. The 3.5 percent increase from May puts new home sales 25.4 percent higher than they were at the same time last year.
Builder confidence is considered an important measure of housing's health due to the important role new homes play in balancing the market.
As a home buyer or seller, new residential construction numbers may not seem like they have a whole lot to do with you. But, at a time when there are more buyers than there are homes available for sale, the pace of new home construction has a significant impact on home prices – which are most likely very important to you.
You’re invited to the grand opening of our two new model homes at The Trails, Coeur d’Alene’s newest premier community by Architerra Homes.
Our Foxtail community is weeks away from opening its second phase with new lots soon available. This next phase will include a community park for everyone in the neighborhood to enjoy.
Our Reserve community will begin development of its second phase in July, adding 36 additional lots to the neighborhood! This area is ideal, especially with the completion of a brand new elementary school to really make this neighborhood feel like home.