Meanwhile, in other good news for the real estate market, US News reports that new-home construction in April has remained steady despite the higher mortgage rates.
The posted article includes these facts and figures: “Builders broke ground on more new homes in April as permits for future construction came in a little below estimates, the Census Bureau and Department of Housing and Urban Development said on Thursday. Starts were at an annual rate of 1.36 million, 5.7% higher than the downwardly revised March number of 1.29 million.”
Strong Start to 2024 Continues Through April for New-home Market
According to Builderonline.com, “Zonda’s count of new-home sales increased 4.8% on a year-over-year basis as more than 60% of builders report demand is on track or stronger than expected.”
In another twist of similar data, “the pace of new-home sales accelerated in April on a month-over-month and year-over-year basis as three in five builders reported demand is either on track or stronger than they expected, according to the latest Zonda New Home Market Update.”
This Yahoo! Finance headline is a beacon of good news: “Housing market to see slow comeback as mortgage rates fall.” The piece includes this item of interest to real estate investors: “In order to really make some headway against these challenges, we're going to need to see more building. The housing market continues to be short on supply even though we did see some optimistic numbers, some signs of improving supply.”
The real estate market can be tricky to navigate, but we are here to showcase current events that can help you launch your next — or even first — fix-and-flip initiative with confidence, affording you an edge in your efforts to maximize your return on investment for your hard work.
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Al purchased a building next to one he already owned, but unlike the first, which was a straightforward rehab, this new one was just a shell. He undertook a total frame-out and reconstruction, transforming it into a matching gem with four 1-bed/1-bath apartments and one studio. The extensive work included new electric, plumbing, heating, flooring, and five new kitchens and baths. Now, Al has ten fully occupied units between the two buildings, a significant accomplishment he’s proud of.
