New Construction News

Surprise surge in new-home sales in May as median price falls 

New-home inventory rose to 444,000 homes in May from 437,000 homes in April, the U.S. Census Bureau and the U.S. Department of Housing and Urban Development reported.  

Housing starts plunge in May amid uncertain economic conditions 

New-home completions rose during the month, however, with the increased inventory representing a rare bright spot in an otherwise gloomy government report. 

New residential sales fall in April as home prices, mortgage rates continue to climb 

The rate of new single-family home sales fell 16.6% from March’s revised number, while the median sales price jumped to $450,600 from March’s revised median house price of $435,000. 

$59 million new construction mansion on the market in Billionaire Bunker, where neighbors include Tom Brady and Ivanka Trump

The compound on the exclusive Indian Creek island is accepting Bitcoin as payment.

New-home sales fall again in March 

Low inventory and rising interest rates have reduced prospective homebuyer purchasing power. 

New-home sales fall again in February 

Affordability and supply-chain issues continued to weigh on the sales of new single-family residences.

Reservations underway at The Perigon, preconstruction Miami Beach tower

Units at The Perigon will range from 2,100 to 6,700 square feet, with wraparound terraces, starting at $3 million.

New-home construction picks up in February  

“More groundbreaking is welcome news for a supply-starved housing market.” — First American deputy chief economist Odeta Kushi 

Hospitality and fine dining brand Cipriani to partner on Brickell condo tower

Cirpriani Residences Miami will be an 80-story tower with 397 condominiums featuring luxury amenities and Cipriani dining services.

High prices, construction bottlenecks crimp new-home sales in January

“Builders are entering 2022 with backlogs that they are having a hard time completing due to material and labor shortages, and new-home prices are sitting near a historic high.” — First American Deputy Chief Economist Odeta Kushi

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