The National Association of Home Builders (NAHB) is calling on Congress to remove excessive federal regulations that raise construction costs and affect housing affordability. Regulatory costs make up nearly 25% of single-family home expenses and over 40% for apartments, worsening the housing shortage of 1.5 million units. A federal mandate tying mortgage insurance to strict building codes is a major...
New Homes
The National Association of Realtors (NAR) predicts a 6% average mortgage rate for 2025, which could enhance housing affordability and demand. This forecast includes 1.45 million new housing starts, primarily single-family homes, and a median home price increase to $410,700. While lower mortgage rates may stimulate the market, challenges like supply shortages and regional price disparities remain. The...
Build-to-rent homes have become a popular solution to the housing crisis in South Florida and the Treasure Coast, with 44,700 houses currently under construction. On November 1, 2023, a ribbon-cutting ceremony was held for The Cottages, a build-to-rent complex in Port St. Lucie. Vice President of Capstone Communities Davis Maxwell said that the build-to-rent model is a good alternative due to the high...