Pending home sales fall for fourth straight month
(finance.yahoo.com)
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It's because there are less homes available to be sold on the market. It would affect the overall pending sales.
The cost of building a new home is ridiculous right now and keeps going up.
It now costs about $250 per square foot in my area (up from roughly $150 per square foot only just over 7 years ago when we built this home) And you're not getting any better quality with those builds than before.
Some builders are also beginning to add lumber as an allowance. Only know this as a neighbor is currently building a home and moving to another area. I assume there is a size base (perhaps 1,600 square feet, but who knows?) and you have to pay over and above that base for the size of your home. That adds even more cost to a home if you are looking to build something double that size.