The percentage of sales for homes priced below $300,000 is increasing, government data showed on Thursday, in what some housing economists say is a signal of a possible shift in which builders might be constructing smaller homes that can be priced lower to attract first-time homebuyers.Read more: How to Get a MortgageIn April, 17 percent of new homes sold were priced at less than $300,000.
Views'We are seeing a growing share of homes that were sold in that under $300,000 category which is the lowest price category that they offer,' Danielle Hale, Realtor.com's chief economist, told Newsweek. That does suggest sales are picking up in more affordable price points. Those are probably smaller homes.
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New home sales fell in April as mortgage rates weighed down housing marketNew home sales fell in April as the housing market felt the effects of higher mortgage rates, which have recently inched even higher. New home sales fell 4.7% from March to an annual rate of 634,000, according to a Thursday report from the Census Bureau. The number of new home sales is 7.7% lower than it was in April of last year.
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Williams-Sonoma CEO explains how the company deals with a difficult housing marketIn a Wednesday interview with CNBC's Jim Cramer, Williams-Sonoma CEO Laura Alber explained how her company handles a tough housing market.
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Central Ohio couple navigates tough housing market in search for first homeAs the central Ohio area continues to grow, it's getting more challenging to find the perfect, affordable place to live.
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