Latest news with #NewHomeSource
Miami Herald
5 days ago
- Business
- Miami Herald
Top 5 places Millennials want to live in 2025
Top 5 places Millennials want to live in 2025 When it comes to places to live, Millennials like it hot. In its most recent Millennial Survey, NewHomeSource found California is the top destination for this demographic cohort (Millennials are those born between 1980 and 2000). See More: Top 5 Priorities for Millennials When Picking a Place to Live in 2025 "This list tells us that millennials are no different than any other age group," says NewHomeSource chief economist Ali Wolf. "Good weather, quality of life, and a good labor market appeal to people of all ages. If you are looking at one of these markets, though, be prepared to pay more. These are also some of the most expensive housing markets across the country." NewHomeSource, a new home listings site with customer reviews, shares the Top five places Millennials want to live. San Diego, California Millennials are drawn to San Diego for its unbeatable combination of career opportunities, outdoor lifestyle, and vibrant culture. With a strong job market in industries like tech, biotech, and tourism, the city offers plenty of employment options, especially for young professionals. Its year-round sunshine, stunning beaches, and endless outdoor activities - like surfing, hiking, and biking - support an active, health-conscious lifestyle. The city also boasts a thriving food scene, craft breweries, and diverse nightlife, making it an exciting place to live. Additionally, San Diego's laid-back yet dynamic atmosphere, along with its growing emphasis on sustainability and innovation, makes it a highly attractive destination for millennials looking for both professional growth and a high quality of More: How Millennials are Funding Their Down Payments in 2025 New York, NY Millennials are drawn to New York City for its unparalleled career opportunities, cultural diversity, and vibrant social scene. As a global hub for finance, tech, media, fashion, and the arts, NYC offers endless networking and job prospects, making it ideal for ambitious professionals and creatives. The city's fast-paced energy, iconic landmarks, and 24/7 lifestyle create an environment where there's always something to do - from world-class restaurants and Broadway shows to pop-up events and live music. Public transportation makes it easy to explore its diverse neighborhoods, each with its own unique charm. While the cost of living is high, many millennials find the trade-off worth it for the access to opportunities, innovation, and a social scene that never More: How Dual Income, No-Kid Millennials Are Shaping Housing Trends in 2025 Denver, Colorado Millennials are drawn to Denver for its blend of urban convenience, career opportunities, and access to the outdoors. With a booming job market in industries like tech, healthcare, and renewable energy, the city offers strong professional growth while maintaining a relatively lower cost of living compared to other major metropolitan areas. Denver's proximity to the Rocky Mountains makes it a haven for outdoor enthusiasts, offering year-round activities like hiking, skiing, and biking. The city's thriving craft beer scene, diverse food options, and vibrant arts and music culture add to its appeal. With a laid-back yet innovative atmosphere, Denver provides millennials with an ideal balance of career advancement, active living, and a strong sense of community. Orange County, California Millennials are drawn to Orange County for its mix of coastal living, career opportunities, and vibrant social scene. With major employers in tech, healthcare, and entertainment, the region offers strong job prospects while maintaining a more relaxed pace compared to nearby Los Angeles. The stunning beaches, year-round sunshine, and outdoor activities like surfing, hiking, and biking promote an active lifestyle. Orange County also boasts a thriving food scene, trendy shopping destinations, and a growing arts and music culture. While the cost of living is high, many millennials find that the balance of career growth, beautiful surroundings, and a strong sense of community makes Orange County an appealing place to call home. Los Angeles, California Millennials are drawn to Los Angeles for its dynamic job market, diverse culture, and endless entertainment options. As a global hub for industries like entertainment, tech, fashion, and startups, LA offers countless career opportunities for ambitious professionals and creatives. The city's vibrant neighborhoods, world-class dining, and iconic nightlife make it an exciting place to live. With its sunny weather, proximity to beaches, hiking trails, and outdoor activities, LA supports an active and health-conscious lifestyle. While the cost of living is high, many millennials are willing to trade affordability for the city's networking potential, cultural diversity, and access to opportunities that can't be found anywhere else. This story was produced by NewHomeSource and reviewed and distributed by Stacker. © Stacker Media, LLC.
Miami Herald
13-06-2025
- Business
- Miami Herald
Here's how US tariffs may affect home prices in 2025
Here's how US tariffs may affect home prices in 2025 New tariffs are set to increase the cost of building, buying, and renovating homes-creating another barrier in an already tough housing market. NewHomeSource, a new home listings site with customer reviews, breaks down how tariffs will impact homebuyers. Why it matters: With high mortgage rates and low inventory, homebuyers are already struggling. Now, tariffs will raise prices even further. "A lot of the uncertainty [in the housing market] comes down to tariffs," says New Home Source chief economist Ali Wolf. What's happening: The U.S. government is imposing tariffs up to 25% on key goods from Mexico and Canada. Goods from China were temporarily rolled back from 145% to 30% as of May 14, 2025, for a span of 90 days. On June 11, President Donald Trump said the U.S. and China reached an agreement, with tariffs on Chinese imports set at 55%. See More: Here's How Trump's Tariffs May Affect Home Insurance Prices in 2025 Key materials affected by tariffs: Lumber: A 25% tariff on Canadian goods adds to an existing 14.5% duty, raising softwood lumber prices by nearly 40%.Concrete, cement, gypsum: About 25% of the U.S. supply is imported, mainly from Canada and and aluminum: Both materials, essential for framing and roofing, are now subject to a 25% and fixtures: Many products are sourced from China, with price increases expected. Industry experts say construction costs could rise 4% to 6%.That adds $5,000 to $20,000 to the price of a new surveyed by the National Association of Home Builders in March estimate a smaller, but still notable, $9,200 Tomalak, Zonda's principal, advisory of building products, says "including a 2.5% baseline rate [of inflation], tariffs could increase the cost of building materials by 9%." First-time buyers and those looking for affordable homes will feel it most. "We're in an environment where affordability is stretched and we don't want to be adding to any additional costs. Tariffs could play a role in making that worse," says Wolf. "The tariff impact isn't isolated to just new homes, though," adds Wolf. "If you are considering an existing home that needs to be remodeled, you might be surprised with how much money the whole project will cost." See More: How Credit Scores Are Shaping the 2025 Housing Market Differing opinions on cost increases due to tariffs The National Association of Home Builders' April Housing Market Index estimates tariffs could add $10,900 to the cost of a typical new home. However, in Zonda's Q2-2025 Housing Market Forecast, data points to the cost only rising by $5,000. Given the flux surrounding global tariffs, it's difficult to predict a static number for the coming months. Where prices are already increasing Manufacturers may continue to raise prices regardless of tariffs. Tomalak reports that the three major roofer manufacturers - Owens Corning, CertainTeed, and GAF - have already raised prices between 7% to 10% as of April 1. Will tariffs affect other areas of a new home purchase such as insurance? The short answer - probably yes. "Tariffs on imported building materials will increase the cost of rebuilding a home, which will raise home insurance premiums," says Insurify's Matt Brannon. With additional reporting from Carmen Chai. This story was produced by NewHomeSource and reviewed and distributed by Stacker. © Stacker Media, LLC.
Yahoo
13-06-2025
- Business
- Yahoo
Here's how US tariffs may affect home prices in 2025
New tariffs are set to increase the cost of building, buying, and renovating homes—creating another barrier in an already tough housing market. NewHomeSource, a new home listings site with customer reviews, breaks down how tariffs will impact homebuyers. Why it matters: With high mortgage rates and low inventory, homebuyers are already struggling. Now, tariffs will raise prices even further. 'A lot of the uncertainty [in the housing market] comes down to tariffs,' says New Home Source chief economist Ali Wolf. What's happening: The U.S. government is imposing tariffs up to 25% on key goods from Mexico and Canada. Goods from China were temporarily rolled back from 145% to 30% as of May 14, 2025, for a span of 90 days. On June 11, President Donald Trump said the U.S. and China reached an agreement, with tariffs on Chinese imports set at 55%. See More: Here's How Trump's Tariffs May Affect Home Insurance Prices in 2025 Lumber: A 25% tariff on Canadian goods adds to an existing 14.5% duty, raising softwood lumber prices by nearly 40%. Concrete, cement, gypsum: About 25% of the U.S. supply is imported, mainly from Canada and Mexico. Steel and aluminum: Both materials, essential for framing and roofing, are now subject to a 25% tariff. Appliances and fixtures: Many products are sourced from China, with price increases expected. Industry experts say construction costs could rise 4% to 6%. That adds $5,000 to $20,000 to the price of a new home. Builders surveyed by the National Association of Home Builders in March estimate a smaller, but still notable, $9,200 increase. Todd Tomalak, Zonda's principal, advisory of building products, says 'including a 2.5% baseline rate [of inflation], tariffs could increase the cost of building materials by 9%.' First-time buyers and those looking for affordable homes will feel it most. 'We're in an environment where affordability is stretched and we don't want to be adding to any additional costs. Tariffs could play a role in making that worse,' says Wolf. 'The tariff impact isn't isolated to just new homes, though,' adds Wolf. 'If you are considering an existing home that needs to be remodeled, you might be surprised with how much money the whole project will cost.' See More: How Credit Scores Are Shaping the 2025 Housing Market The National Association of Home Builders' April Housing Market Index estimates tariffs could add $10,900 to the cost of a typical new home. However, in Zonda's Q2-2025 Housing Market Forecast, data points to the cost only rising by $5,000. Given the flux surrounding global tariffs, it's difficult to predict a static number for the coming months. Where prices are already increasing Manufacturers may continue to raise prices regardless of tariffs. Tomalak reports that the three major roofer manufacturers — Owens Corning, CertainTeed, and GAF — have already raised prices between 7% to 10% as of April 1. Will tariffs affect other areas of a new home purchase such as insurance? The short answer — probably yes. 'Tariffs on imported building materials will increase the cost of rebuilding a home, which will raise home insurance premiums,' says Insurify's Matt Brannon. With additional reporting from Carmen Chai. This story was produced by NewHomeSource and reviewed and distributed by Stacker. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
08-05-2025
- Business
- Yahoo
SINGLE-FAMILY LOT SUPPLY LOOSENING IN MORE MARKETS
Up for the Third Consecutive Quarter; Highest Level in Five Years NEWPORT BEACH, Calif., May 8, 2025 /PRNewswire/ -- Zonda's New Home Lot Supply Index (LSI) for 1Q25 showed lot supply loosened, both year-over-year and quarter-over-quarter across the United States, notching the third consecutive increase from previous quarters. The index is a residential real estate indicator based on the number of single-family vacant developed lots and the rate at which those lots are absorbed via housing starts. The New Home LSI came in at 64.3 for 1Q25, representing a 12.1% increase from 1Q24. The 1Q25 data shows a "significantly undersupplied" market nationally. The market has been "significantly undersupplied" since 2017. On a quarter-over-quarter basis, supply increased by 5.7% from 4Q24. The LSI counts the total vacant developed lot supply and adjusts for overall starts activity. "Today's housing market is shaped by the intersection of politics, economics, affordability, and consumer sentiment," said Ali Wolf, chief economist for Zonda and NewHomeSource. "The resulting impact is a choppy market, and mixed messages on the lot supply front. Zonda's LSI in the first quarter came in at the highest level in five years thanks to slower housing starts and more cautious consumers but remained significantly undersupplied." Total upcoming lots (delivery over the next 12-18 months) for 1Q25 increased 4.7% year-over-year, and were up 6.5% from last quarter. Additionally, they were up 26.3% compared to the same quarter in 2019. "There has been a lot of money invested in land and lot development in recent years, and we are seeing the fruit of that labor show up in total upcoming lots," said Wolf. "The big question now is how aggressive builders will be in the shifting market with housing starts, new community openings, and their land acquisition plans." See the full insights and analysis on Zonda's us at upcoming Zonda events including Future Place, Oct. 27-29 and Multifamily Executive Conference, Nov. 4-6. About ZondaZonda provides data-driven housing market solutions to the homebuilding industry. From builders to building product manufacturers, mortgage clients, and multifamily executives, we work hand-in-hand with our customers to streamline access to housing data to empower smarter decisions. As a leading brand in residential construction, our mission is to advance the home building industry, because we believe better homes mean better lives and stronger communities. Together, we are building the future of housing. About NewHomeSource (NHS) is America's #1 source for consumers as they search for new construction communities and homes. NewHomeSource also has the most extensive collection of ratings and reviews for homebuilders nationwide. As the only independent source of reviews from verified homebuyers, TrustBuilder delivers the honest insights you need to make decisions with confidence. For media inquiries or to schedule an interview with Chief Economist Ali Wolf:Contact: Diane BeginEmail: pr@ 224-836-5615 View original content to download multimedia: SOURCE NewHomeSource powered by Zonda
Yahoo
08-05-2025
- Business
- Yahoo
HOMEBUYERS: New Construction Increasingly a More Cost-Effective Choice
As New Home Market Conditions Stay Near Average, Consumers Stand to Benefit DANA POINT, Calif., May 8, 2025 /PRNewswire/ -- The Builder 100 – Zonda's 37th annual gathering of top U.S. builders wrapped up yesterday. As a unique national provider tracking the entire building cycle, the event covers critical industry topics such as the state of the current housing market. Zonda chief economist Ali Wolf — whose role has recently expanded to chief economist for — offered some 'back to the basics' advice on what we'll see from consumers in the coming year in a presentation this week titled 'Economic Outlook for Housing.' "While consumers remain very concerned about the economy and whether we'll enter a recession, for those who have the means to make a move, they stand to see an increased benefit in the type of home they can secure for themselves," says Ali Wolf chief economist for Zonda and NewHomeSource. "Because of market uncertainty, new home prices were down from peak in every one of the 50 markets we track, and 35% of builders reported lowering prices in April," Wolf adds. "If a consumer is looking to buy this year, the case for a new home is growing." The price spread between buying a new construction home versus buying an existing home has narrowed (partly because of changing product). Because of an aged housing stock, new construction allows consumers to minimize unforeseen renovation problems. Builders are also increasingly offering more incentives, making it even more attractive to buy new. Through new construction, consumers can also customize and design their homes to fit their lives. Finally, new home buyers benefit from reduced insurance costs. The nation's largest builders were recently unveiled as part of the Builder 100 and Next 100 lists, including focuses on specific consumer segments: Entry Level, Move Up, Affordable⁄Subsized; and, Active Adult (55+) construction. Visit NewHomeSource for more on: How to Choose Between New Construction and Resale Homes A Step-by-Step Guide to the Home Building Process TrustBuilder Reviews: Home Builder Reviews from Real Homebuyers Also see from Builder 100: TARIFF TALK: Homebuyer and Remodeling Price Sensitivity in 2025 RENTERS: The Growing Influencers in the Building Community Dream Finders Homes Wins the 2025 Builder of the Year Award Lennar Foundation Honored with 26th Annual Hearthstone Builder Humanitarian Award Introducing the 2025 Virtual Concept Home Designed by Ashton Woods Homes About NewHomeSource (NHS) is America's #1 source for consumers as they search for new construction communities and homes. NewHomeSource also has the most extensive collection of ratings and reviews for homebuilders nationwide. As the only independent source of reviews from verified homebuyers, TrustBuilder delivers the honest insights you need to make decisions with confidence. About ZondaZonda provides data-driven housing market solutions to the homebuilding industry. From builders to building product manufacturers, mortgage clients, and multifamily executives, we work hand-in-hand with our customers to streamline access to housing data to empower smarter decisions. As a leading brand in residential construction, our mission is to advance the home building industry, because we believe better homes mean better lives and stronger communities. Together, we are building the future of housing. About BUILDERBUILDER is the No. 1 resource—via its award-winning journalism and industry events—for anyone involved in new-home construction. Primarily focused on the single-family sector, BUILDER strives to help home builders manage their operations, large and small, more efficiently and profitably. Residential construction pros turn to BUILDER for housing-related news, market analysis, design trends, M&A deals, building product coverage, and more. For media inquiries or to schedule an interview with Chief Economist Ali Wolf:Contact: Diane BeginEmail: pr@ 224-836-5615 View original content to download multimedia: SOURCE NewHomeSource powered by Zonda Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
