new homes - Articles

Homebuying: How to Choose Between New or Existing Dwellings

Shutterstock By AJ Smith When it comes time to stop renting and you are ready to own a home, most people have to decide whether to buy a new home or an existing one. Here's what to consider as you make your decision. Brand New The smell of new house may not be as popular as the smell of new car, but there are some... Continue Reading »

Home Shopping: Should You Buy New?

By Amanda Gengler It's official: After years of little activity, homebuilders are dusting off their jackhammers. Last year, housing permits hit their highest level since 2008, according to the Census Bureau, and new-home sales grew 20% from the prior year. "Builders are more optimistic than they have been for several... Continue Reading »

Is Buying a New Home Like Buying a New Car?

By Brendon Desimone When you drive a new car off the lot, it immediately loses some of its value. Does the same apply to real estate? And if so, should you care? For years, the new construction and development market has been sluggish. But now, banks are lending again for new construction, and developers are ready to... Continue Reading »

September's Home Price Rise Shows Biggest Gain in 6 Years, CoreLogic Reports

By Christopher S. Rugaber WASHINGTON -- A measure of U.S. home prices jumped 5 percent in September compared with a year ago, the largest year-over-year increase since July 2006. The gain reported by CoreLogic offered more evidence of a sustainable housing recovery. The real estate data provider also said Tuesday that... Continue Reading »

Don't Let These People Derail Your New Home Sale

By Brendon Desimone A listing agent may have shown a prospective buyer a specific house two or three times. Now the buyer wants another showing, which is surely a good sign that she's ready to make an offer. The buyer also tells the agent that she wants to bring her new boyfriend, best friend, out-of-town parents or... Continue Reading »

U.S. New Home Sales Fall to 5-Month Low

By Christopher S. Rugaber WASHINGTON -- Americans bought fewer new homes in June after sales jumped to a two-year high in May. The steep decline suggests a weaker job market and slower growth could make the housing recovery uneven. The Commerce Department said Wednesday that sales of new homes fell 8.4 percent last... Continue Reading »

DIY Projects for Your New Home

By Scott Gamm NEW YORK -- If you have moved recently, preparing the home to suit your tastes and fixing minor damages is undoubtedly a stressful and expensive process. And after shelling out money for a down payment, you may not have enough cash left for a major gut-renovation. Consult AOL Real Estate's Home Improvement... Continue Reading »

New Homes Sell at Fastest Pace in 2 Years

By Martin Crutsinger WASHINGTON -- Americans bought new homes in May at the fastest pace in more than two years. The increase suggests a modest recovery in the housing market is continuing, despite weaker job growth. The Commerce Department said Monday that sales of new homes increased 7.6 percent in May from April to a... Continue Reading »

6 Cost-Saving Reasons to Buy New Construction

Buying a newly built house costs more -- even with all the builder incentives thrown in. The National Association of Realtors reports that the median price for existing homes in May was $166,700. The Census Bureau says the median home price for new homes was $222,600 -- or 33.5 percent higher. The price gap explains why... Continue Reading »

New Home Sales Rise, But Conditions Remain Unchanged

The market for new homes showed some unexpected life last month. New home sales rose 11.1 percent to annual rate of 300,000, according to estimates released by the U.S. Census Bureau and the Department of Housing and Urban Development. While this marks a nice bump up from the February rate of 270,000, it does not yet... Continue Reading »

Housing Market Data Doesn't Tell the Whole Story

Over the past two weeks we have been bombarded with housing market data, much of it seemingly contradictory. • On February 15, the National Association of Home Builders released their Housing Market Index for February. The Index measures confidence among home builders, where 50 is neutral, higher is positive, and... Continue Reading »

New Homes Construction Rises 3.9%

Well, it's something, if not much: Builders began construction on new homes at higher rate in November. So-called housing starts increased 3.9 percent last month, according to the National Association of Home Builders, the first time the index has shown an uptick since August. Builders such as Toll Brothers are... Continue Reading »

Chinese Drywall Case: Builders Get a Break

A court decision in Florida recently exonerated homebuilders who'd used Chinese drywall, since they were not within the distribution chain. But they are not completely off the hook. While builders won't be held to rules of "strict liability" for homes impacted by allegedly toxic Chinese drywall, this ruling is not a... Continue Reading »

New Homes: Construction Up but Still Low

New homes construction ticked up only 0.3 percent from August to September. The 610,000 new homes begun last month represent a 28 percent rise from the record low of 477,000 in April 2007, though. That's based on Census Bureau housing-starts figures dating back to 1959. The relatively small increase is mostly in... Continue Reading »

Homebuilders' Confidence Locked in the Basement

The slackened demand for new homes has kept the National Association of Home Builders monthly index of builders' sentiment unchanged in September at 13 (numbers below 50 connote a negative outlook). For the second consecutive month, the index has remained at an 18-month low. The index is composed of foot traffic from... Continue Reading »

Builder Thanks Homebuyer Tax Credit for First Profit in 3 Years

With many economists blaming the end of the homebuyer tax credit for last month's dreadful home sales, at least one company is singing its praises. Luxury homebuilder Toll Brothers posted its first profitable quarter in nearly three years -- and the homebuyer tax credit is foremost on its list of thank-yous. The company... Continue Reading »

Neighborhood Hunting Made Easy

When looking for a home, Laura Hansen knew she was going to be making some compromises. Her previous home, in Annapolis, Maryland, was a townhouse in a development full of busy young professionals like herself. This time, she wanted more of a dream house, and for Hansen that meant a sprawling property with a dock... Continue Reading »

New-Home Builds Increase, Fall Short of Forecasts

Builders are building more new homes, but apparently not enough to constitute a recovery. While housing starts increased 1.7 percent in July, to 546,000, those numbers were substantially lower than the 560,000 anticipated, according to the Commerce Department. New building permits fell 3.1 percent to a 14-month low,... Continue Reading »

New-Home Sales Rise as Builders Cut Prices

New homes are selling again, and buyers are happy. But builders apparently are paying the price: The Commerce Department recently reported that the average new home price dropped to $242,900 in June. That's the lowest it's been since 2003, and the worst year-over-year drop since April 2009. Still, some analysts think the... Continue Reading »

New Home Builds Fall 5% Due to Severe Drop in Condo Market

Pessimism is back among usually optimistic homebuilders. The Commerce Department reported yesterday that construction of new homes and apartments declined 5 percent in June. The drop was a result of a 20 percent plunge in the condominium and apartment market. Single-family home construction fell 0.7 percent. Builders are... Continue Reading »

Portable Apartment Heralds End of Moving!

Andrew Kline has a solution for renters stressing about moving from one pad to another -- just move the entire apartment. A recent graduate from the Cranbrook Academy of Art just outside of Detroit, the 25-year-old Brooklyn-based designer created a portable apartment for his master's project. "I call it an 'interior... Continue Reading »

Pending Homes Sales Drop: Deflationary Spiral or Temporary Slowdown?

Buyers signed fewer contracts to buy homes in May than in any time since the government starting keeping records on them. Based on information from the National Association of Realtors, pending home sales dropped 30 percent from April -- from 110.9 to 77.6 -- which is also 15.9 percent below May 2009. While some believe... Continue Reading »

New Home Builders Keep Building, Despite a Rocky Time

Last week's news that sales of new homes dropped precipitously in May, combined with earnings statements that same week, propelled CEOs at top building firms to talk about what they see happening in the housing market as we head into the second half of 2010. Their words were surprisingly optimistic. New-home... Continue Reading »

Homebuilders Lose Confidence After Homebuyer Tax Credit Expires

It was the tax credit, after all. Or so it seems. One of the timeliest leading indicators for real estate prices -- the homebuilder confidence survey published by the National Association of Home Builders/Wells Fargo -- dropped five points, or 22 percent, in June to a reading of 17. That's the lowest level since March,... Continue Reading »

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