Limited housing continues to increase home prices as homeowners who secured low interest rates are reluctant to move. But building new houses isn’t an easy fix to the problem. Despite a surge of millennials entering their prime homebuying years, U.S. existing home sales dropped to the lowest level in almost 30 years.
Denver Faces Housing Shortage Amid High Construction Costs, Mortgage Rates
Sara B. Hansen, Denver Post
Fri, 07/05/2024 - 3:00am
Topics: lawrence yun realtors real estate editors austin home builders nahb)/wells fargo housing market index persistently nahb chairman carl harris wichita kan home the june aurora parker bennett lone tree uptown river north ceo newhomesmate despite we hnatkovskyy the denver post i national association denver zillow builders in builders we june hnatkovskyy shortage high construction costs mortgage rates interest sales missing prices incentives households metro buyers offer number labor time continues years houses living move doesn year news economic
BING NEWS:
- ‘Stuck’: Housing market malaise may last for years
Polls show skyrocketing housing costs are a top issue for young voters, with more than 90 percent in one survey saying affordability is a key factor in how they'll vote.
07/4/2024 - 10:00 pm | View Link - Denver faces housing shortage amid high construction costs, mortgage rates
However, high mortgage rates, which hover around 7%, combined with elevated construction costs and high land prices, continue to hamper builder sentiment. According to the National Association of Home ...
07/4/2024 - 5:00 pm | View Link - Soaring Housing Costs in Texas Challenge Homeownership Dream, with Major Cities Facing Affordability Crisis
The Texas Tribune reports on skyrocketing housing costs in Texas, making homeownership less attainable and leaving many renters burdened by high expenses.
06/24/2024 - 2:52 am | View Link - Given the housing shortage, why is it so hard to build new apartments?
Inflation, climate change and zoning laws have contributed to elevated rents and building costs. Developers focus on high-priced luxury units.
06/20/2024 - 11:37 am | View Link - New Home Construction Slows as Mortgage Rates Remain High
Home building in May fell to its slowest pace in four years despite a supply shortage. That trend could put even greater strain on buyers.
06/20/2024 - 7:48 am | View Link - More
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