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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
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
Another look at the significant NAR court ruling–it potentially lowers costs for buyers and sellers while encouraging negotiation of agent fees.

REDD Accounting is a global firm specializing in property accounting and bookkeeping services for real estate companies. Whether you are a small-scale operation or managing a large portfolio of properties, we have the expertise and resources to support your unique needs.

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