ReCap

October
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CapstoneMortgage_2018

New England opts for vinyl

Vinyl is the most common siding for new US homes – as well as the preferred choice for new construction in New England.1 According to the Census Bureau’s Survey of Construction:

  • Vinyl was used on 27% of new homes nationally‚ followed by stucco (25%)‚ brick (21%)‚ and fiber cement (20%).
  • In New England‚ vinyl was applied to 72% of new homes‚ besting the #2 choice: wood (20%).
  • Stucco rules on the West Coast; brick dominates throughout most of the South.

Staying on top of housing market dynamics is essential. Please contact me if you have questions.

1Ashok Chaluvadi‚ “Vinyl and stucco are the most common siding on new homes‚” National Association of Home Builders‚ last updated September 21‚ 2018.
October
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CapstoneMortgage_2018

Region’s median price continues to climb

While existing home sales were flat nationally‚ the Northeast experienced a 7.6% increase.1
Here are the numbers:

  • Increase projects to 710‚000 units sold.
  • Northeast’s median price is $292‚800 (up 2.6%).
  • National housing inventory remained unchanged‚ with 1.92 million homes for sale.

Capstone is the #1 mortgage company in Greater Lexington for 16 consecutive years. It is a pleasure staying in touch.

1Patrick Barnard‚ “Existing home sales flat in August but down from a year ago‚” Mortgage Orb‚ last updated September 21‚ 2018.