Day: August 4, 2020

Late-July Home Sale Prices Up 11%, Largest Annual Increase Since 2014

Pending home sales still turning in strong gains

The U.S. housing market continued to see strong demand from homebuyers for the four-week period ending July 26. The seasonally-adjusted Redfin Homebuyer Demand Index was up 27% from pre-pandemic levels in January and February. Pending home sales were up 12% compared to a year earlier, driven by mortgage rates that remain near historic lows.

One factor spurring strong pending sales and keeping sales from declining more quickly may be buyers who delayed purchasing in the spring now rushing to buy before school starts in the fall. “School districts are still important even

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HomeBuilder: Melbourne’s stage four restrictions could hurt grants

Melbourne’s stage four lockdown could cut back access to HomeBuilder grants.

Melbourne homebuyers could miss out on the federal government’s $25,000 HomeBuilder grants as a result of the stage four lockdown.

Victoria’s construction industry groups are urgently negotiating fine detail to the planned restrictions amid fears they will hit harder than intended.

Key concerns are understood to centre around whether tradespeople will be able to move between sites and projects during the six-week shutdown, as well as if land development and civil works will be able to continue — vital to preparing land to be built on for the grants.

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