Home prices are sky high, but mortgages are still cheap

Real estate is crazy expensive.

The median existing home price climbed to $252,800 in May, according to the National Association of Realtors, exceeding the peak hit in June 2016 of $247,600.

At this point, home prices have been rising every month for more than five years.

While that's good news for home sellers, buyers are having a tough time finding homes they can afford.

Cities across the U.S. are facing major housing shortages, which means buyers have to compete for homes with...

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Take Care – it’s hot out there!

There is an Excessive Heat Warning issued for the Phoenix area.

Stay safe and drink lots of water!

And keep your pets cool, hydrated and off of hot pavement.  If the pavement would burn your bare feet, it will burn your dog’s paws.

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Looking for a Newly Constructed Home? Better Buy Now

More newly constructed homes were completed in May—but fewer abodes are in the pipeline, according to the seasonally adjusted numbers in the latest residential sales report jointly released by the U.S. Census Bureau and U.S. Department of Housing and Urban Development.

Seasonally adjusted numbers have been smoothed out over a 12-month period to compensate for seasonal fluctuations.

First, the good news: About 1.164 million sorely needed new homes were completed in May. That's 5.6 percent more than...

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5 Popular Trends in New-Home Construction

What building materials are trending in new-home construction? The latest Annual Builder Practices Survey, conducted by Home Innovation, reveals what buyers can expect to see in the new-home market.

 

  1. Garages: The garage door is getting more enhancements, including windows, insulated doors, and doors made of composite or plastic materials. In 2014, 32 percent of all new single-family homes had bays for three or more cars—the most ever recorded in this study's...

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