Tag: new homes

Housing Market to Cool Down With Existing Inventories, Says New Report

June 14, 2022
Business & Marketseconomyexisting home saleshome pricesMarketsmortgage ratesnew homesUS
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Homes sales are expected to cool down in 2022, as inventories pile up, according to a recent report by real estate listings website Realtor.com. The company had earlier predicted a 6.6 percent growth in existing home sales in 2022. The latest Realtor report, published on June 13, revised this to a 6.7 percent decline. While the…

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Home Sales in US Rise to Nine-Month High, Shortages Persist

November 23, 2021
Business & Economyeconomyexisting home salesHousing Industry Associationhousing marketinflationMarketsnew homesUS
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Sales of U.S. homes, including new and previously-owned, rose unexpectedly in October to their highest level since the start of the year as recovery-related employment level gains propelled a healthy demand for accommodation. According to figures from the National Association of Realtors, there was an increase in the share of investors buying up homes last…

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Zillow to Stop Buying New Homes for the Rest of the Year as It Struggles to Manage Backlog in Renovations

October 20, 2021
Business & EconomyCompaniesconstruction industryCOVID-19 pandemicEconomieseconomylabor shortagesnew homesreal estateUSUS News
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Online real estate marketplace Zillow on Monday announced it will stop buying new homes for the rest of the year due to a backlog in renovations and operational capacity constraints. The company’s Chief Operating Officer, Jeremy Wacksman, said in a statement that Zillow will not be signing any new, additional contracts to buy homes through the end…

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