Welcome to today’s real estate news! If you’re interested in investing in real estate or staying updated on the latest housing market trends, you’ve come to the right place. In this edition, we explore the best cities to buy new construction homes for long-term wealth, the exciting opportunities offered by Oklahoma’s Housing Stability Program, the dynamic real estate market in Washington County, the expansion plans of Heartwood Cohousing, and the transformative impact of new home construction on the housing market. Whether you’re a potential buyer, seller, or simply curious about the industry, these articles provide valuable insights and information. So, let’s dive in and discover the possibilities that await in the world of real estate!
I’m a Real Estate Agent: Buy Property in These 10 Cities To Be Rich in 10 Years
When it comes to investing in real estate, the choice between a newly built home and an existing one can significantly impact your wealth over the next decade. With new construction homes now constituting a significant portion of the market, certain cities offer unparalleled opportunities for growth. This article delves into the best cities to invest in new construction homes, considering factors like the percentage of new builds on the market, median sale prices, market trends, and cost of living. From Tulsa’s booming housing market to Austin’s tech-driven demand, discover where your real estate investment could flourish. Learn the secrets of the wealthy and how to make informed choices that could lead to substantial financial gains.
Learn more about where to invest in real estate
Oklahoma Housing Stability Program: A Golden Opportunity for New Housing Construction | Business & Energy | citynewsokc.com
The Oklahoma Housing Finance Agency (OHFA) is hosting a pivotal application training webinar for the Oklahoma Housing Stability Program, aimed at bolstering housing options in the state. This program, featuring a whopping $215 million funding pool, is set to make history as the state’s largest-ever investment towards housing construction. With 0% interest construction loans, it targets the development of both for-sale homes and rental properties, addressing the urgent need for more housing and market stability. The webinar, scheduled for June 19, promises to equip participants with essential knowledge on navigating the application process efficiently. This initiative not only opens up significant opportunities for developers and builders but also supports prospective homebuyers through down payment and closing cost assistance programs. Don’t miss out on this chance to contribute to Oklahoma’s housing growth and stability.
Learn more and register for the webinar here.
Washington County homes for sale were listed at higher prices in May
In Washington County, the real estate market showed signs of dynamic activity in May, with the median home list price marking a 3.4% increase from the previous month to $234,600. Despite this monthly rise, there was a notable 13% decrease compared to the same period last year, reflecting the fluctuating nature of the market. Homes in the county were listed at an average of $118 per square foot, a figure that has risen by 6.9% since last May. The pace of the market was brisk, with homes spending a median of 34 days on the market, quicker than the national median. However, new listings saw a decrease, with 64 homes hitting the market, down 15.8% from May of the previous year. This snapshot offers a glimpse into the local housing trends, providing valuable insights for potential buyers and sellers in Washington County.
Learn more about Washington County’s housing market trends
Heartwood Cohousing wins OK for 14 homes, turns attention to design and financing – The Durango Herald
Heartwood Cohousing, nestled in the Bayfield area, is embarking on an exciting phase of expansion after receiving approval from the La Plata County Board of County Commissioners. This green light paves the way for the addition of 14 new single-family detached homes at 800 Heartwood Lane, enhancing the community’s close-knit, nature-centric living experience. With nine of the future homes already presold to eager buyers from areas as diverse as the Denver metro, California, and Texas, the focus now shifts to finalizing home designs and securing construction financing. These homes, ranging in size from 1,100 to 2,600 square feet with tentative prices between $665,000 and $885,000, promise to be energy-efficient and solar-powered, reflecting Heartwood’s commitment to sustainable living. As the community looks forward to breaking ground in spring 2025, the anticipation builds for what these new additions will bring to the Heartwood Cohousing neighborhood.
Learn more about Heartwood Cohousing’s expansion plans
I Found Out Why Brand-New Homes Could Transform the Housing Market – CNET Money
In a revealing exploration, CNET Money’s Katherine Watt delves into the rising trend of new home construction amidst a challenging real estate market. With home prices remaining high, building a new home has become an increasingly attractive option for many. Companies like KB Home are leading the charge by offering energy-efficient homes that not only cater to the financial constraints of buyers through incentives like closing cost assistance and lower mortgage rates but also appeal to the growing demand for sustainable living. This shift towards new construction, accounting for more than 30% of the single-family home market compared to the 10-12% before 2023, signifies a potential transformation in housing affordability and availability. The move towards smaller, more efficient homes reflects a broader change in buyer preferences and offers a glimpse into the future of the American housing landscape.
Discover more about how new homes are changing the housing market on CNET Money
Colorado Springs home construction jumps in May as buyers shake off high mortgage rates | Business | gazette.com
In Colorado Springs, the housing market is showing signs of robust growth despite the challenges posed by high mortgage rates. According to a recent report from the Pikes Peak Regional Building Department, the issuance of building permits for single-family homes saw a significant jump in May, reaching the highest level in nearly two years. This surge reflects a growing trend among buyers who are moving forward with their home purchases, undeterred by the current mortgage rates which have been hovering in the mid-to-high 6% and 7% range for nearly two years. The increase in permits, which includes both single-family homes and townhomes/duplexes, indicates a strong demand for housing fueled by life changes such as new jobs, marriages, and family expansions. Additionally, the median price for homes sold in May hit a record high, suggesting that many buyers are willing to invest in the market despite the cost. Factors contributing to this trend include the introduction of mortgage buydowns by builders, a rise in high-paying jobs in the area, and a shortage of homes for sale pushing buyers to accept higher prices.
Read more about how Colorado Springs is overcoming high mortgage rates to boost home construction.