Construction Starts and Home Prices are Up
December 20, 2023
The November real estate numbers are out and the news is great. We have a substantial 14.8% rise in housing construction this November, and a surprising uptick in home sales, ending a five-month downturn despite persistently high mortgage rates. This hints at a possible resurgence in buyer interest as we approach the end of the year.
Let's dive in.
Construction Starts, Home Prices Both Up in November
Business Insider
November saw a surprising 14.8% increase in housing starts, exceeding Wall Street's expectations and signaling an easing in mid-term home buying challenges.
Home Sales Ticked Up in November After 5 Months of Declines
WSJ
Home sales in November unexpectedly ticked up after five months of decline, even as mortgage rates hovered near two-decade highs, potentially marking a turning point for future home-buying activity.
Verdict on Real Estate Commission Fees
CNN
Another look at the significant NAR court ruling–it potentially lowers costs for buyers and sellers while encouraging negotiation of agent fees.