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Noel Veitia

NMLS ID 277729

305-851-5225 nveitia@dgpinnacle.com

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Housing Supply Not Keeping Up with Population Increase

Many buyers are wondering where to find houses for sale in today’s market. It’s a true dilemma. We see an increase in buyer demand, but the supply available for purchase isn’t keeping up. The number of new housing permits issued prior to the great recession increased for 15 years until 2005 (from 1.12 million in 1990 to a pre-recession peak of 2.16 million in 2005). According to Apartment List, “From 1990 to 2005, the number of single-family permits issued more than doubled, while the number of multi-family permits grew by 49 percent.” When the h...

August 20th, 2019 | First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Move-Up Buyers, New Construction, Housing Supply Not Keeping Up with Population Increase

Do You Prefer the Charm of an Existing Home?

When homebuyers begin their research, they want to see all their available options! In many cases, they will include both new construction and existing homes in their search; but is a new construction home really the house of their dreams? According to a recent survey by Zillow, of the 38% of total buyers that added new construction to their list, only 11% ultimately purchased a newly constructed home! They added that 71% of these buyers are repeat buyers who are financially secure, with 45% using the money from the sale of their previous homes to make a pur...

January 28th, 2019 | New Construction, For Buyers, For Sellers, Move-Up Buyers, Do You Prefer the Charm of an Existing Home?

New Home Sales Up 12.7% From Last Year

According to the latest New Residential Sales Report from the Census Bureau, new construction sales in August were up 3.5% from July and 12.7% from last year! This marks the second consecutive month with double-digit year-over-year growth (12.8% in July). The report also showed that builders have ramped up construction with an increase in new construction starts and completions. The summer months are often a busy time for builders as they capitalize on the warmer weather to be able to finish projects. Below is a table showing the change in starts, completions, and sales fr...

October 19th, 2018 | First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Move-Up Buyers, Pricing, New Construction, New Home Sales Up 12.7% From Last Year