ReCap

October

CapstoneMortgage_2018

Smart home gadgets in demand

Sixty percent of home shoppers said they would pay extra for high-tech amenities like a smart thermostat‚ security cameras or a smart lock.1 However‚ the preferred technology varies‚ depending on demographics:

  • Smart thermostats are mostly wanted by young singles and couples.
  • Families prefer smart garages (with features like app controls and voice commands).
  • Smart locks are favored by older buyers.

Overall‚ 53% of builders said they integrate smart technology into new homes. I hope you find this industry information helpful.

1“Smart-home gadgets buyers will pay extra to have‚” REALTOR® Magazine‚ last updated August 27‚ 2018.

October

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

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.