Rising mortgage rates and record high home prices are causing the market to cool slightly. In June, the percentage of homes on the market receiving multiple offers fell below 50% for the first time in more than two years. Redfin found that 49.9% of offers received competition in June, down more than 15% year over year and…
House Bill 581, sponsored by Rep. Jared Solomon, D-Philadelphia, became Act 58 when Gov. Tom Wolf signed it into law on Monday. It allows taxing authorities more options to pass tax abatements or incentives to build or fix up affordable housing. The bill found support in urban areas facing rising rent prices as well as…
PA legislature approves a new home repair assistance programPennsylvanians will soon be able to get state assistance to pay for home repairs, thanks to a new program that lawmakers passed as part of the state budget. Under the Whole Home Repair Program, eligible homeowners can apply for grants of up to $50,000. Small landlords can apply for…
The prices of goods used in residential construction climbed 1.5% in June (not seasonally adjusted) even as softwood lumber prices fell 23%, according to the latest Producer Price Index (PPI) report. Prices have surged 41.7% since January 2020. Building materials (i.e., goods inputs to residential construction, less energy) prices have increased 4.8%, year-to-date, and are 12.2%…
The 26-acre estate in Upper Black Eddy that was once a summer retreat for the wealthy, philanthropic Guggenheim family is currently on the market in Upper Bucks County – Bridgeton Township, PA. The four bedroom, three-and-a-half bathroom home, with almost 3,500 square feet, is 30 minutes from New Hope and 10 minutes from Frenchtown, New…
Bucks County is moving forward with a plan to sell its public sewer system to Aqua Pennsylvania for $1.1 billion. The Bucks County Water and Sewer Authority (BCWSA) recently voted 3-1 to give Aqua the exclusive right to negotiate a sale for a year. If BCWSA accepts Aqua’s formal offer, it would be the largest…