AGP Executive Report
Last update: 3 hours agoBuyer Squeeze: High mortgage rates are widening the divide: cash-rich buyers can keep moving, while starter-home shoppers face tighter affordability. Brokers report sluggish sales and fewer mortgage inquiries; pending sales fell 7.3% in September, and builders are cutting prices as confidence hits a 14-year low. Building Costs: A new 1,500-square-foot home could cost $450,000 to $525,000 to build, before selling and closing costs. Developers say savings from cost-cutting measures are often modest, adding to pressure on housing supply. New Development: Florida’s Sunrise Hills community has broken ground on a 1,100-acre site planned for nearly 4,000 homes. In Wyandanch, New York, a developer bought land for a $25 million townhouse rental project with 51 units, including 10 designated as workforce housing.
Note: AI summary from news headlines; neutral sources weighted more to help reduce bias in the result. Feedback is welcome. Please let us know if you have any comments or suggestions about the AGP Executive Report.
Perspectify News
