Tuesday, June 11, 2013

Top-10 USA housing market Startling Changes of 2012/2013

1) Prices of “A” location lots in several markets are back to PEAK pricing

2) Some submarkets in Atlanta have gone from 220 months of lot supply (“VDL”) to near equilibrium levels, and are now headed to shortage

3) Builders are deliberately slowing sales by raising prices, in popular neighborhoods

4) Buyers are voting with their pocketbooks that 15%-20% price increases are ok (in select submarkets)

5) The expected down-sizing of homes by builders has (at least for now) gone the other way

6) Mortgage rates finally edged up

7) More than 50% of buyers in many Irvine-area projects buy with cash

8) A dozen new condo towers are being developed in Miami

9) Buyers camped out overnight at two projects in Florida to be the first in line to reserve pre-construction homes…and that was a year ago

10) Phoenix. Just, Phoenix. ‘Nuff said.

and… (Yes, my Top 10 List goes to 11)

11) Las Vegas finished-vacant single-family home supply is down to 2 months!

  Posted in National Housing Market
Posted on 06-03-2013
Written by Brad Hunter

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