Paul Owers

Florida

U.S. Housing Writer at CoStar

U.S. Housing Writer at Homes.com

U.S. housing writer for @HomesDotCom, @CoStarNews. Pro football savant.

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Articles

Exclusive: Adjusted for inflation, home prices have fallen in these cities in past quarter century

5 days ago | homes.com | Paul Owers

When adjusting for inflation, home prices in Cleveland, Chicago, Detroit and seven other U.S. metropolitan areas have declined over the past quarter century, exceptions to the real estate adage that long-term ownership builds wealth, a new report shows.
Growing Houston suburb to get 5,000 'Texas Chic' homes

1 week ago | homes.com | Paul Owers

Some 5,000 houses are on tap for a 2,900-acre master-planned community in suburban Houston. Master developer W Land Development and the city of Alvin, Texas, say the single-family homes in Preservation Creek will have a mix of masonry and stone exterior elevations. The homes will be "Texas Chic," a style that blends Western and elegant elements, W Land said. Lots are under development and should be ready for construction by early 2026, according to W Land.
Borrowing costs move higher as spring home selling season takes another hit

1 week ago | homes.com | Paul Owers

Mortgage rates have inched higher again, giving some prospective buyers more reason to pause during what is traditionally the busiest period for home sales. The average rate for a 30-year, fixed-rate home loan climbed to 6.89% Thursday from 6.86% the prior week, mortgage giant Freddie Mac said. A year ago, the average was 7.03%.
New home sales rise to highest level since 2022, but builder concerns linger

2 weeks ago | homes.com | Paul Owers

Sales of new U.S. homes are on a surprising upswing, even as mortgage rates and the number of unsold properties increase. Still, homebuilders remain pessimistic about the coming months. April new home sales totaled a seasonally adjusted annual rate of 743,000, meaning that many homes would change hands over the next 12 months at this pace, according to a report released Friday by the U.S. Census Bureau and the Department of Housing and Urban Development.
Four questions to an agent: A 'dreamer's market' and grocery bags of cash at closing

2 weeks ago | homes.com | Paul Owers

In 1980, after running track on scholarship and double majoring in business and Spanish, Miami native Mike Pappas graduated from Wake Forest University. That same year, he married his high school sweetheart, Kathy, and went to work for his father, Ted Pappas, head of the Keyes Co. real estate brokerage in South Florida. Even though he was related to the guy in charge, Mike Pappas started out as anybody else would, as a commissioned sales associate.
Houston home sellers face new reality as 'buyers have options now'

2 weeks ago | homes.com | Paul Owers

Active listings have soared to nearly a 15-year high in the Houston metropolitan area, putting sellers on notice and buyers in an unfamiliar position of power. Total active listings for homes and condos in April hit 43,244, up 36% from April 2024, according to the Houston Association of Realtors. The number of listings in the 10-county region hasn't been higher since July 2010, said Brittany Aucion, spokesperson for the Realtor group, in an email.
Regional homebuilder acquires firm for North Texas presence

2 weeks ago | homes.com | Paul Owers

Regional builder Scott Felder Homes has announced plans to enter the North Texas market by acquiring Olivia Clarke Homes. Olivia Clarke, based in Plano, Texas, builds high-end production homes. The companies did not disclose the terms of the deal. The acquisition is another consolidation in a homebuilding industry grappling with elevated mortgage rates and economic uncertainty that have hurt smaller players, analysts say.
Underwhelming housing starts could force builders to appease 'anxious' buyers

3 weeks ago | homes.com | Paul Owers

Mounting pessimism, fueled by elevated mortgage rates and economic uncertainty, is weighing on U.S. housing starts in what is traditionally a vibrant period for residential real estate. Builders started a seasonally adjusted 1.361 million homes in April, up 1.6% from the revised March figure but still just below the consensus of analysts, according to figures released Friday by the U.S. Census Bureau and the Department of Housing and Urban Development. Overall starts fell 1.7% from April 2024.
Homebuilder caters to baby boomers with new developments in this Midwest market

3 weeks ago | homes.com | Paul Owers

While age-restricted developments are common across the Sun Belt, homebuilders also are responding to demand for the communities from baby boomers in other regions, including the Midwest. The latest example comes from Atlanta-based homebuilding giant PulteGroup. This week it announced a pair of 55-and-over developments outside Indianapolis under its Del Webb brand.
Tips for finding the right schools

3 weeks ago | homes.com | Paul Owers

Public boards of education in Atlanta, New York City, Chicago and other large markets tend to assign school districts by home address, putting the onus on prospective buyers to select the right neighborhoods to set their children up for academic and social success. Complicating the situation: There are limited numbers of homes for sale in certain areas, especially in low- to mid-price points.