{"id":11594,"date":"2017-05-18T15:25:47","date_gmt":"2017-05-18T15:25:47","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=11594"},"modified":"2017-05-18T15:25:48","modified_gmt":"2017-05-18T15:25:48","slug":"will-starter-home-return","status":"publish","type":"post","link":"http:\/\/www.anthonydidonato.net\/wordpress\/will-starter-home-return\/","title":{"rendered":"Will the Starter Home Return?"},"content":{"rendered":"

Will the Starter Home Return?<\/h1>\n

 <\/p>\n

\"Will<\/a>

Will the Starter Home Return?<\/p><\/div>\n

Home builders say they\u2019re struggling to deliver on the demand of lower-priced entry-level homes that cater to the growing number of willing millennial buyers, arguing that more entry-level homes will hurt their bottom lines.<\/p>\n

\u201cSince the recovery has really been at the middle end of the market, home prices have gone up and land prices have followed,\u201d Megan McGrath, managing director at MKM Partners, told CNBC. \u201cSo it is very, very hard to make a good profit at a lower price point these days.\u201d<\/p>\n

Few starter homes are available on the market today through existing homes too. During the Great Recession, investors purchased hundreds of thousands of foreclosed properties\u2014low-priced starter homes\u2014and converted them into rentals. They\u2019ve been holding on to these properties, which has spawned an even bigger deficit for lower priced homes on the market.<\/p>\n

\u201cI don\u2019t think anyone\u2019s doing jumping jacks in terms of that lower end of the market, but I do think you\u2019re also seeing \u2026 a little slowdown at the middle end, because that\u2019s where the bulk of the recovery has been so far,\u201d says McGrath.<\/p>\n

The median price of a new home built in March was $315,000. The median price of an existing home was $236,400.<\/p>\n

Builders are gradually introducing new lines at lower price points.<\/p>\n

\u201cPeople are doing more town homes in good locations, and they\u2019re also stripping stuff out of the house to get the price cheaper,\u201d says John Burns, CEO of John Burns Real Estate Consulting.<\/p>\n

Some builders are introducing lower-cost lines of homes, but while they\u2019re lower-cost, they aren\u2019t considered starter homes, CNBC reports.<\/p>\n

The cost of building a starter home isn\u2019t lucrative enough for builders, industry insiders say.<\/p>\n

“It’s always a tug of war in builders between order growth and gross margins,\u201d McGrath says. \u201cThose are the two things that investors pay the most attention to. That really tends to be what drives the stocks.\u201d<\/p>\n

Demand is clearly growing among young buyers, however. New-owner households are now outpacing renter households, according to the latest Census data.<\/p>\n

Source: \u201cHome builders Are Targeting Millennials \u2014 But it Will Hit Their Margins,\u201d CNBC (May 16, 2017)<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Will the Starter Home Return?   Home builders say they\u2019re struggling to deliver on the demand of lower-priced entry-level homes that cater to the growing number of willing millennial buyers, arguing that more entry-level homes will hurt their bottom lines. \u201cSince the recovery has really been at the middle end of the market, home prices … <\/p>\n

Continue reading<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,8],"tags":[5,32,4,9],"class_list":["post-11594","post","type-post","status-publish","format-standard","hentry","category-news","category-real-estate-tips","tag-anthony-didonato","tag-news","tag-real-estate","tag-tips","item-wrap"],"yoast_head":"\nWill the Starter Home Return? - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.anthonydidonato.net\/wordpress\/will-starter-home-return\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/will-starter-home-return\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/will-starter-home-return\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"headline\":\"Will the Starter Home Return?\",\"datePublished\":\"2017-05-18T15:25:47+00:00\",\"dateModified\":\"2017-05-18T15:25:48+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/will-starter-home-return\\\/\"},\"wordCount\":384,\"publisher\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"image\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/will-starter-home-return\\\/#primaryimage\"},\"thumbnailUrl\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/wp-content\\\/uploads\\\/2017\\\/05\\\/05182017a.jpg\",\"keywords\":[\"Anthony DiDonato\",\"News\",\"Real Estate\",\"tips\"],\"articleSection\":[\"News\",\"Real Estate Tips\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/will-starter-home-return\\\/\",\"url\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/will-starter-home-return\\\/\",\"name\":\"Will the Starter Home Return? 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