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DataDigest: What the latest data says about home prices, construction and sales

Housing Wire

Census Bureau and the Department of Housing and Urban Development. Home construction New home construction ramped up early in the pandemic but moderated as interest rates ticked up and mortgage rates followed. The rate of homes under construction has roughly plateaued since April 2022. The figure – up 17.7%

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HUD Appoints Five to Manufactured Housing Consensus Committee

Appraisal Buzz

Department of Housing & Urban Development (HUD) has announced the appointment of five new members to serve on its Manufactured Housing Consensus Committee (MHCC) , a Federal Advisory Committee. The MHCC also developed the first set of model installation standards for the manufactured housing industry.

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Homebuilders are feeling pretty good right now

Housing Wire

New home construction is taking on an increased role in the marketplace because many home owners with loans well below current mortgage rates are electing to stay put, and this is keeping the supply of existing homes at a very low level ,” Alicia Huey, the NAHB chair, said in a statement. That share from 2000-2019 was a 12.7%

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Streamlining subsidies to build more affordable housing

Housing Wire

To help the lowest-income families, who increasingly can’t find affordable housing in today’s market, federal, state, and local governments devote considerable resources to subsidize the development of affordable housing with below market rents. LITHC projects built between 2000-2018 needed to layer an average of 3.5

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Here’s why new home sales are up along with prices

Housing Wire

Census Bureau and the Department of Housing and Urban Development. We are well below the 2000 recession level and back to 1996 levels. When you account for a population of over 330 million people, that sales number looks a lot lower than in 2000 and 1996 so be mindful that we are trending at low levels today. percent (±20.8

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New home sales make it clear: Housing is in a recession

Housing Wire

This data line confirms what we all know to be the case: The housing market, at least as it relates to construction, is in a recession. We talked about this in March , and even last year, when I wrote about the problem with the housing construction boom premise. “I don’t expect a boom in housing construction.

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Where’s the bottom for new home sales?

Housing Wire

New home sales are now below the recession levels of 2000 and have fallen all the way to 1996 levels, when interest rates were near 8%. Census Bureau and the Department of Housing and Urban Development. The builders will pull back on construction when the supply is 6.5 months of supply is still under construction 2.1