patrick.net

https://www.cnbc.com/2024/06/25/the-typical-newly-built-house-in-the-us-is-shrinking.html

The typical new home in the U.S. is shrinking

FL Inventory up 70% YoY.

Eric Holder says

This kind of stuff means nothing. These high-end mansions are not moving in sync with the rest of the market because these brain dead celebrity bimbos tend to overpay when they want something now-now-NOW!

YEP

The median price was skewed by a surge in sales of higher-end homes.
According to the NAR, despite the overall decline in sales, the high end was hot:

Sales of homes of over $1,000,000: +22.6% YoY
Sales of homes of $750,000 to $1,000,000: +12.9% YoY
Sales of homes of $500,000 to 750,000: +6.9%
Sales of homes $250,000 to 500,000: +1.0%
Everything below fell.
So the mix of homes that sold changed toward the higher end, with relatively fewer sales in the mid-range to lower-end homes.

The median price is the price in the middle. And this shift in mix of what sells toward the higher end pushes up the middle of the prices that sold, and thereby the median price. This is an infamous shortcoming of the median price. We discussed the mechanics, including a chart, of how median home prices are skewed by changes in the mix here.

https://wolfstreet.com/2024/06/21/home-sales-sag-further-hit-by-mortgage-rates-price-reductions-active-listings-surge-median-price-skewed-higher-by-surge-in-high-end-sales/

zzyzzx says

https://www.cnbc.com/2024/06/25/the-typical-newly-built-house-in-the-us-is-shrinking.html

The typical new home in the U.S. is shrinking

Nooooooooo!

Absolutely true in my area.



It's really not "246 days", that's when Focus Homes listed the model which is at multiple lots. Same School District and unlike Commiefornia you can send you kid to one of a dozen charter schools, there's a Classical Academy in the area. You're guaranteed the next seat if they're overcapacity and high demand charter schools get more money to hire more staff to host more students. Florida also allows flexibility for taking your kid to a school more convenient to work or equidistant to co-parenting.

There's an available model that is $256k including the plot.

Focus homes is offering an intro rate of 5-6.5% with a 20% downpayment

Is homeloaner offering that? Or will the buyer have to get an 8% from the bank?

AmericanKulak says

Absolutely true in my area.



It's really not "246 days", that's when Focus Homes listed the model which is at multiple lots. Same School District and unlike Commiefornia you can send you kid to one of a dozen charter schools, there's a Classical Academy in the area. You're guaranteed the next seat if they're overcapacity and high demand charter schools get more money to hire more staff to host more students. Florida also allows flexibility for taking your kid to a school more convenient to work or equidistant to co-parenting.

There's an available model that is $256k including the plot.

Focus homes is offering an intro rate of 5-6.5% with a 20% downpayment

Is homeloaner offering that? Or will the buyer have to get an 8% from the bank?

New is a no-brainer in this case.