Real Estate News 05/08/2024

Today’s News Synopsis:

Las Vegas-based housing technology startup BOXABL on Tuesday announced that it has received approval to begin selling a factory-built accessory dwelling unit (ADU) in California, which could provide more options in a state strapped for affordable housing options.

In The News:

Yahoo Finance – “ADU options set to expand in California“ (05-08-24)

“Las Vegas-based housing technology startup BOXABL on Tuesday announced that it has received approval to begin selling a factory-built accessory dwelling unit (ADU) in California, which could provide more options in a state strapped for affordable housing options.”

Altos Research –  “Home Price Signals Point to Flat Growth“ (05-06-2024)

“Inventory continued to climb this week. Not at a super fast pace, but the number of homes on the market across the country keeps expanding”

World Property Journey –  “NAR Predicts Falling Rates, More Sales by Year End 2024” (05-08-24)

“Based on new predictions made at the Residential Economic Issues & Trends Forum by the National Association of Realtors Chief Economist Lawrence Yun, U.S. interest rates will fall in the long term, 2024 existing-home sales will rise to 4.46 million (up 9% from 4.09 million in 2023) and 2025 existing-home sales will increase to 5.05 million (up 13.2% from 2024) – with further gains in eight of the next 10 years.”

NAR – “The Next Chapter” (05-03-2023)

“Despite pent-up demand among millennials, the large baby boomer cohort generally plans to stay in their homes as long as they can”