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Will the Starter Home Return?
DAILY REAL ESTATE NEWS | WEDNESDAY, MAY 17, 2017Homebuilders say they’re struggling to deliver on the demand of lower-priced entry-level homes that cater to the growing number of willing millennial buyers, arguing that more entry-level homes will hurt their bottom lines.
“Since the recovery has really been at the middle end of the market, home prices have gone up and land prices have followed,” Megan McGrath, managing director at MKM Partners, told CNBC. “So it is very, very hard to make a good profit at a lower price point these days.” more...
Buyer Beware: Home Prices Will Only Get Higher
DAILY REAL ESTATE NEWS | TUESDAY, MAY 16, 2017Home sales reached their highest pace in a decade in the first quarter of 2017 as property prices continue to escalate, according to the National Association of REALTORS®' latest quarterly report.
The median price of an existing single-family home nationally was $232,100 in the first quarter, up 6.9 percent from the same time period a year ago. Home prices rose year over year in 85 percent of the 178 metro areas analyzed.
The continued inventory shortages prompted home-price appreciation more...