From category archives: News

The Philadelphia Business Journal and the Pittsburgh Business Times both featured a great article on Spring Garden Lending opening a Pittsburgh office …. “Philadelphia’s Spring Garden Lending enters Pittsburgh with office led by veteran banker”

Update on Philly housing markets – lots of bright spots…

The Philadelphia Business Journal wrote a great article on Andy Rachlin joining Spring Garden Lending as its new President…. “Spring Garden Lending taps Reinvestment Fund executive as new president”

According to the Wall Street Journal, “Millennials Are Supercharging the Housing Market”…

The generation that supposedly didn’t want to buy things now accounts for over half of all home-purchase loan applications; economists expect them to bolster demand for years…read more….

https://www.wsj.com/articles/millennials-are-supercharging-the-housing-market-11639496815

Get the low down....Zillow has released its latest Consumer Housing Trends in 2021... UrbanTurf pulls out some of the more interesting stats pertaining to the market to date

From Bloomberg news…”US housing starts reach a three month high” and more….

Talented in home services? Are you feeling entrepreneurial? The Philadelphia Business Journal just ran “Hot housing market will create plenty of new businesses”

By: Sougata Mukherjee Editor-in-Chief, Triangle Business Journal Just how many times have you read stories in recent months that talk about a hot housing market? Well, to us, that's somewhat old news. How many times are we going to write pieces on how the average price of new homes is going up and the sale price of existing homes is going up even further? Yes, we know we have a supply and demand imbalance. For markets that are dramatically experiencing massive inbound population flows such as in Raleigh, Austin, Texas, and Nashville, Tennessee, the number of listed homes is on the decrease and the percentage of homes sold above the listing price is going up. Coupled with adamantly low mortgage rates, there’s no reason to believe things will change in the short run. But what is beginning to change should offer hope to everyone looking for an opportunity to start a new business. Are you a good handyman? Are you an electrician? Did you go through turf management program at a technical c ...

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Wall Street Journal reports, "US Existing-Home Prices Hit Record High in May." Read all about it....

Spring Garden Lending's vibrant Spring Arts neighborhood is getting 2 new cool restaurants from 13th Street Kitchens....

A comprehensive report of the housing market compiled by Redfin...it's a hot market!

By: Bridgetower News Service The median home sale price increased 17% year over year to $330,250—an all-time high—according to a new report from Redfin (redfin.com). This is the largest increase on record in this data set, which goes back through 2016. Below are other key housing market takeaways for more than 400 U.S. metro areas during the 4-week period ending March 14. Asking prices of newly listed homes hit a new all-time high of $350,972, up 10% from the same time a year ago. Pending home sales were up 21% year over year, the smallest increase since August. New listings of homes for sale were down 17% from a year earlier. Active listings (the number of homes listed for sale at any point during the period) fell 42% from 2020 to a new all-time low. This is the largest decrease on record in this data, which goes back through 2016. 57% of homes that went under contract had an accepted offer within the first two weeks on the market, well above the 46% rate during the same ...

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