North America Residential Real Estate News
North America Residential
Record Setting 1 in 4 Homes for Sale in U.S. Are New Construction in Q1
According to national property broker Redfin, more than a quarter (25.7%) of single-family homes for sale in America during the first quarter were new-construction homes. That's up from 20.4% a year earlier and represents the highest share on record.
Pending Home Sales in U.S. Grow 2 Percent in March
According to the National Association of Realtors, U.S. pending home sales increased in March 2021, snapping two consecutive months of declines. All but one of the four major U.S. regions experienced month-over-month gains in March, while each area recorded year-over-year growth.
Spiking Lumber Prices in U.S. Added $36,000 to New Home Prices in 2021
According to the National Association of Home Builders, soaring lumber prices that have tripled over the past 12 months have caused the price of an average new single-family home to increase by $35,872.
Black Wealth May Grow by $500 Billion from U.S. Housing Gains in Coming Decade
Based on new research by Zillow, incremental increases in U.S. homeownership rates and home values among Black households would help shrink the current $3 trillion racial wealth gap by hundreds of billions of dollars over the next decade.
North America Residential Property News
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