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☆ US new home sales jump to 19-month high; median price falls
▼ + stars: | 2023-10-25 | by ( Lucia Mutikani | ) www.reuters.com time to read: +4 min

The larger-than-expected increase in sales last month reported by the Commerce Department on Wednesday showed that the new housing market continued to be supported by a chronic shortage of previously owned houses. That is leading to very different dynamics in different parts of the housing market." New home sales are counted at the signing of a contract, making them a leading indicator of the housing market. The National Association of Home Builders reported last week that about a third of builders reported cutting home prices in October, a 10-month high, with the average price discount at 6%. The housing market likely stabilized in the third quarter, thanks to strong homebuilding and new home sales.

Persons: Sarah Silbiger, Bill Adams, resales, Freddie Mac, Dan Hnatkovskyy, Lucia Mutikani, Chizu Nomiyama, Andrea Ricci Organizations: REUTERS, U.S, Commerce Department, Comerica Bank, Reuters, Midwest ., National Association of Home Builders, Thomson Locations: Washington , U.S, WASHINGTON, Dallas, Northeast, West, Midwest

☆ See the 19-page pitch deck used to raise $5.5 million for NewHomeMate, a Zillow-like platform for newly constructed homes
▼ + stars: | 2023-09-27 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +3 min

But finding the right fit isn't always easy, thanks in part to the old-school practices of most homebuilders. Vyshnevska and Hnatkovskyy launched NewHomeMate (formerly PropertyMate) in 2020, as the housing market was beginning to reach a fever pitch. Earlier this year, the company announced that it had raised a $5.5 million seed round from funders to expand and grow its vision. "Many people realized that now is the best moment to buy homes, even with high interest rates, if you see where rent is going across much of the United States, and their only real option is new construction," Hnatkovskyy said. Vyshnevska and Hnatkovsky walked Insider through the pitch deck they used to raise their $5.5 million seed round with some confidential financial information redacted.

Persons: homebuyers, Sofia Vyshnevska, Dan Hnatkovskyy, Vyshnevska, Hnatkovskyy, DR, Hnatkovsky Organizations: DR Horton Locations: homebuilders, United States

☆ 17 affordable US cities attracting real-estate investors and developers for rent increases, price appreciation, jobs growth, and lower property taxes, according to an investment property expert
▼ + stars: | 2023-09-05 | by ( Laila Maidan | ) www.businessinsider.com time to read: +4 min

Dan Hnatkovskyy says real-estate investors should analyze data to determine where to buy. The real-estate market might seem less attractive at a time when mortgage rates are elevated and home prices also remain high. Another way they get insight is by tracking NewHomesMate website activity to see where buyers and smaller investors are looking. On the other hand, since interest rates began to increase, investor interest decreased in that area. Additionally, higher property prices and elevated interest rates are making smaller and simpler homes more attractive, mainly in rural or suburban areas.

Persons: Dan Hnatkovskyy, Hnatkovskyy, Craig Barrett Organizations: Internal Revenue Agency, Census Bureau, IRS, NewHomesMate's, Jacksonville, Rock , Arkansas Memphis , Tennessee Olive Branch , Mississippi Cities Locations: Austin , Texas, Austin, Miami, Orlando, Tampa, Lakeland , Florida Nashville , Knoxville, Chattanooga , Tennessee Raleigh, Durham, Charlotte, North Carolina Atlanta , Georgia Birmingham , Alabama, Dallas, Ft . Worth, Houston , Texas Cities, Rock , Arkansas Memphis , Tennessee Olive Branch , Mississippi

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