Welcome to today’s real estate news! Stay up-to-date with the latest updates on residential construction from the Census Bureau, offering valuable insights into building permits, housing starts, and completions across the United States. If you’re curious about housing trends or a professional in the field, this press release is a must-read. In other exciting news, a new 1,500 home community named Northspur is coming to Terrell, offering a range of single-family homes from esteemed builders M/I Homes and Impression Homes. Looking ahead, Forbes Advisor provides predictions for the 2024 housing market, highlighting challenges and hopeful forecasts. Additionally, Oklahoma Baptists have acquired a new building to serve as their headquarters, marking a significant moment for the organization. And for those seeking affordable housing, GOBankingRates reveals the 20 best cities where you can buy a house for under $100,000. Lastly, if you’re a first-time home buyer in Missouri, explore the state’s government assistance programs to make your dream of homeownership a reality. Don’t miss out on these exciting real estate updates – click on the links to learn more!
New Residential Construction Press Release
Stay informed with the latest updates on residential construction from the Census Bureau. Whether you’re a data enthusiast, a professional in the field, or just curious about housing trends, this press release offers valuable insights. Learn about building permits, housing starts, and completions across the United States. Get in touch with the Economic Indicators Division for data inquiries or reach out to the Public Information Office for media questions. Don’t miss out on the opportunity to stay ahead with the most recent residential construction data.
Learn more about New Residential Construction
New 1,500 home community coming to Terrell
Exciting developments are underway in Terrell, as a new 700-acre master-planned community named Northspur is set to introduce around 1,500 single-family homes. Located just 30 minutes east of Dallas, this promising development has already begun construction, with the first phase to include approximately 230 lots. Esteemed Dallas-area builders, M/I Homes and Impression Homes, are at the forefront, promising homes that blend quality with style. Sales are expected to start in June, with the first homes ready by fall. With prices ranging from the $300,000s to the $500,000s and homes featuring up to four bedrooms and three bathrooms across various lot sizes, Northspur offers something for everyone. Behind this ambitious project are Hines and Trez Capital, who envision Northspur as a strategic response to the growing demand for high-quality, cost-effective housing in the suburban expanses of Dallas. The development not only aims to provide diverse housing options but also to cater to the evolving needs of the community, marking a significant milestone in the area’s development.
Discover more about the Northspur community
Housing Market Predictions For 2024: When Will Home Prices Be Affordable Again? – Forbes Advisor
As we navigate through the complexities of the housing market in 2024, a mix of challenges and hopeful forecasts emerge. The unexpected rise in mortgage rates has added to the affordability struggles, keeping the spring home-buying season at bay. While sales of newly built homes see a thriving market, the existing homes sector remains stagnant, offering a slight boost to the low housing supply. Amidst these conditions, a landmark $418 million real estate broker commissions settlement promises significant industry changes starting July, aiming to reshape the buying and selling landscape.
The persistence of elevated mortgage rates and home prices, coupled with a prolonged inventory shortage, dims the hopes of many prospective buyers. However, Fannie Mae’s forecast suggests a potential increase in home sales transactions compared to last year, with a slower pace in price growth anticipated throughout 2024. Despite these hurdles, experts remain optimistic about a recovery, highlighting the importance of a gradual adjustment in mortgage rates to foster a healthier market environment.
This dynamic period in the real estate sector also brings attention to the pending changes due to the National Association of Realtors (NAR) settlement, which could significantly impact how buyers and sellers engage with the market. As we look towards the future, the evolving landscape presents both challenges and opportunities for those navigating the housing market in 2024.
Learn more about the 2024 housing market predictions on Forbes Advisor
A New Ministry Home | Baptist Messenger of Oklahoma
In a significant move for Oklahoma Baptists and their affiliates, the Baptist Foundation of Oklahoma, now operating as WatersEdge, has acquired a new building near downtown Oklahoma City to serve as its headquarters. This decision, unanimously approved by the board of directors on February 8, marks a pivotal moment for the organization. The new location, formerly the Sonic Drive-In Corporate headquarters in Bricktown, spans approximately 100,000 square feet across four stories and will accommodate the rapidly growing WatersEdge Ministries. Additionally, it will become the future office for staff currently based at the Baptist Building in Oklahoma City, including those from Oklahoma Baptists, Oklahoma Baptist Homes for Children, and Baptist Village Communities.
The move is driven by a desire to steward resources wisely and invest more into churches and pastors, with an expected annual savings of $500,000 for Oklahoma Baptists. This strategic relocation aims to enhance unity among the affiliates while addressing the space limitations and financial constraints of maintaining the aging Baptist Building. The transition to the new facility is seen as a win-win, promising to bolster the capacity to support and advance the Gospel throughout Oklahoma and beyond.
Learn more about this exciting new chapter for Oklahoma Baptists and affiliates.
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20 Best Cities Where You Can Buy a House for Under $100K | GOBankingRates
In an era where the dream of homeownership seems increasingly out of reach for many, GOBankingRates brings a glimmer of hope. With a national average home price soaring to $339,048, finding affordable housing has become a Herculean task for most. However, a recent analysis by GOBankingRates, utilizing data-driven methodologies free from advertiser influence, reveals that the American dream is still alive in certain corners of the country. By examining data from Zillow and Realtor.com, GOBankingRates has identified 20 cities where homes can be purchased for under $100,000. This insightful study not only sheds light on the most affordable housing markets but also serves as a beacon for first-time homebuyers navigating the tumultuous waters of the real estate market. Whether you’re looking to invest or find a place to call home, these cities offer some of the cheapest housing prices in the U.S., making homeownership a tangible reality for many.
Discover your dream home in the most affordable cities. Click here to learn more!
Missouri First-Time Home Buyer | 2024 Programs and Grants
If you’re a first-time home buyer in Missouri, navigating the housing market just got easier! Despite the challenges of saving for a down payment and closing costs, Missouri offers a beacon of hope with its array of government assistance programs. With home prices and inflation rates lower than the national average, the dream of homeownership is well within reach. The state provides cash assistance, special mortgages, and mortgage credit certificates to make your home buying journey smoother and more affordable. Whether you’re eyeing the median home price of $261,000 in April 2024 or looking for something more modest, Missouri’s real estate market caters to a wide range of budgets and preferences. From zero down payment options for eligible buyers to forgivable loans that help cover upfront costs, there’s a plethora of resources designed to help you plant roots in the Show-Me State. Don’t let the opportunity to create your own slice of paradise in Missouri slip through your fingers. Explore these programs today and take the first step towards unlocking the door to your new home.
Learn more about Missouri’s First-Time Home Buyer Programs and Grants