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New Home Sales Show Strength in September

Thursday, November 2, 2017

September's new home sales data delivered some positive news for a housing market that has recently shown signs of sluggishness. Sales contracts for newly-built, single-family homes grew 18.9% in September and are running 8.6% higher on a year-to-date basis.

Inventory levels of new homes have been rising, but currently register at only a five-months' supply. Moreover, the largest gains in new-home sales are homes listed in inventory but that have not begun construction – a clear signal that additional home building is needed.

Another indication of unmet demand is the rise in home prices, which recently posted an annual gain of 6.1%, according to the Case-Shiller Index. However, the higher prices have not negatively affected the national homeownership rate, which increased to 63.7% during the second quarter, making it the fifth consecutive quarter of noticeable gains. Recent gains for homeownership appear to mark a turning point for housing demand.

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Toll Brothers and the Rise of “Affordable Luxury”

Wednesday, January 17, 2018

At the end of my recent conversation about the luxury condo market with David Von Spreckelsen, who founded Toll Brothers City Living (TBCL) nearly 15 years ago, he pitched me the company’s newest development, 91 Leonard, in New York City’s...

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