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Despite high interest rates, the nationwide housing shortage has given homebuilders a boost. New home sales spiked 20% year over year with 763,000 houses sold in May. Of all the new homes available in the U.S., 28% are offered by homebuilders compared to the historical norm of 13%, according to a recent report from John Burns Research and Consulting. “The strong demand for housing that had been curtailed by sticker shock and affordability challenges has returned while the housing market adjusted ....
A new report shows that having a mortgage is far more expensive than having a lease, a disparity that is helping to cool a red-hot housing market. ....