Eyes on Housing

SEPTEMBER 28, 2023

According to the annual data from the Census Bureau’s Survey of Construction (SOC), a total of 29,000 5,000+ square-foot homes were started in 2022, down from 33,000 in 2021. In the boom year of 2006, the number of new 5,000+ square foot homes reached a peak of 45,000. In 2007, the number fell to 37,000. Read More ›

Construction 172

Construction 172

Housing Wire

MAY 25, 2021

In order to account for uncertain prices and availability of materials, homebuilders are holding off on making homes available until they are further along in the construction process. to the highest level since 2006. This is not due to a lack of demand; quite the opposite, Speakman noted.

Construction 448

Construction Technology Development Marketing 448

McKissock

MAY 7, 2021

Residential construction and new home sales have been making quite a few headlines lately. Keep reading to catch up on the latest stories and market data related to new home construction and sales. ” New home construction in the news. ” New home construction in the news. from February to a 1.02 “The U.S.

Construction 94

Construction Real Estate Design Appraisal 94

Housing Wire

NOVEMBER 25, 2020

With October’s data in, new home sales have had the strongest three-month stretch since mid-2006, with each month falling just short of 1 million. However, demand has construction playing catch-up , as the estimate of new houses for sale at the end of October was just 278,000. This represents a supply of 3.3

Construction 522

Construction Development Mortgage Housing Market 522

Housing Wire

JULY 20, 2021

million in June, as construction companies broke ground on a greater number of both single-family and multifamily buildings last month. It’s the third-highest number of housing starts builders have broken ground on in one month since May of 2006, a sign of strong buyer demand. Housing starts increased 6.3% to a rate of 1.64

Supply Chain 468

Supply Chain Construction Inventory Buyers 468

Housing Wire

MAY 6, 2021

Even though inventory is grappling with the power that record low rates hold, borrowers are still racing to the end of the bidding line, as March housing starts jumped nearly 20% month over month to the highest level since 2006, per the latest report from Redfin.

Mortgage 482

Mortgage Construction Inventory Marketing 482

Housing Wire

MAY 26, 2022

But we should ask: Why is inventory so much lower now if purchase application data is at 2009 levels — a period in time when inventory was rising noticeably in 2006, 2007, 2008 and 2009? However, the spike in inventory that we saw from 2006 to 2011 can be attributed to the massive credit bubble we had from 2002 to 2005.

Inventory 510

Inventory Housing Market Construction Marketing 510

Housing Wire

DECEMBER 7, 2020

months, builders will halt the rate of growth for new construction plans as they did in 2018 and again for a brief period this year. months, the builders are ok with construction as long as new home sales grow. This period was also during a lull in our prime-age labor force growth, so demand was soft during the years 2006-2011.

Inventory 545

Inventory Construction Government Housing Market 545

Housing Wire

DECEMBER 16, 2020

Robert Dietz, chief economist for NAHB, said the issues that have limited housing supply in recent years, including land and material availability and a persistent skilled labor shortage, will continue to place upward pressure on construction costs. According to the NAHB, the price of lumber isn’t helping builder confidence either.

Construction 416

Construction Housing Market Buyers Inventory 416

Housing Wire

JULY 19, 2022

From the National Association of Home Builders : Looking at the housing starts report, the numbers came in slightly better than anticipated, driven by multifamily construction. Still, it’s backward-looking and the growth in multifamily construction, which we desperately need to cool down rental inflation, has recently been positive.

Housing Market 519

Housing Market Marketing Construction Real Estate 519

Housing Wire

APRIL 30, 2021

More than a quarter of single-family homes for sale during the first quarter were new-construction homes — nearly 26%, and March housing starts jumped nearly 20% month over month to the highest level since 2006, per the latest report from Redfin. A healthy housing market is considered roughly six months of supply.

Buyers 476

Buyers Construction Inventory Housing Market 476

Housing Wire

DECEMBER 29, 2020

from its former high in July 2006. Larger homes have become more popular as more homeowners are working from home, becoming a main driver for construction. The S&P CoreLogic Case-Shiller index covering home prices of all nine U.S. census divisions, reported an 8.4% The National Index is now up 24.5% respectively. Census Bureau.

Construction 543

Construction Buyers Realtors Inventory 543

Housing Wire

FEBRUARY 22, 2024

Balancing supply and demand is a delicate dance between new construction and existing properties. Tiffany Fletcher: Real Estate Owned (REO), acquired by lenders , banks, or financial institutions typically due to mortgage loan defaults, involves the strategic marketing and sale of existing properties to mitigate losses on outstanding loans.

Business 383

Business Marketing Real Estate Legal 383

Housing Wire

JANUARY 10, 2022

And if three hikes in the federal funds target come to pass, initial rates on ARMs, HELOCs and construction loans (often linked to the bank prime) will likely increase from one-half to three-quarters of a percentage point. for 30-year fixed-rate loans.

Housing Market 545

Housing Market Marketing Construction Inventory 545

Housing Wire

JUNE 21, 2023

May’s housing starts rate was actually the highest since April 2022, which was then the highest since 2006. Currently there are 695,000 single-family units under construction, which is actually 136,000 units below the peak in May 2022. Single-family construction deliveries, meanwhile, will likely be more muted.

Business 324

Business Construction Law Inventory 324

Housing Wire

APRIL 21, 2022

A former Texas A&M cross country and track athlete and Episcopalian minister, Ballard in 2011 co-founded TreeHouse , a retailer to sell environmentally friendly home construction materials. This means that the doors, windows, electrical all are done by contractors after the walls have been constructed.”. Khater wrote.

Construction 415

Construction Supply Chain Investors Business 415

Housing Wire

MARCH 23, 2022

While single family housing starts hit its highest level since 2006 in February, homebuilder sentiment dropped below the 80-point mark or the first time since September 2021 according to the National Association of Home Builders (NAHB) and Wells Fargo Housing Market Index (HMI) report. . after a 10.4% drop in January.

Supply Chain 379

Supply Chain Housing Market Buyers Construction 379

Housing Wire

NOVEMBER 24, 2020

census divisions rose 7% in September from a year ago, the greatest year-over-year gain since 2014, and nearly 23% higher than its last peak in 2006. Homes went under contract two weeks faster in September than they did a year earlier, but construction is playing catch-up to feed the frenzy, said Speakman. Census Bureau.

Housing Market 525

Housing Market Contracts Construction Inventory 525

Housing Wire

MAY 16, 2024

The bulk of losses came from loans that originated between 2006 and 2010,” the report stated. Researchers estimated that the Federal Housing Administration (FHA) incurred a net loss of approximately $10.4 billion from the program.

Development 358

Development Appraisal Property Appraisal Insurance 358

Housing Wire

DECEMBER 15, 2021

Bill Dallas: As construction and labor costs have climbed, so, too, have home prices. as of 2020 — the highest level since 2006, according to the State of the Nation’s Housing 2021 report from the Harvard Joint Center for Housing Studies. HousingWire: What are the current challenges when it comes to affordable housing?

Finance 374

Finance Construction Law Inventory 374

Housing Wire

OCTOBER 4, 2023

The number of firms jumped by almost 10,000 to 162,286, the most homebuilder firms since 2006. Unlike in the construction industry, the BDS data does not distinguish between residential and non-residential, so it is unclear how residential lessors fared relative to retail, office, etc. That total was a 4.9%

Landlords 403

Landlords Agents Brokerage Supply Chain 403

Housing Wire

JUNE 2, 2022

In 2006, a flood of foreclosures flooding the market did trigger a dramatic drop in home prices. A data point that explains the resiliency of the housing market: the number of households forming vs. the number of homes constructed. Today the reality is vastly different. trillion, the most significant annual increase in equity.

Housing Market 468

Housing Market Supply Chain Construction Clients 468

Housing Wire

JULY 25, 2022

Homes listed for sale are increasingly seeing asking-price reductions, and both construction and home sales — both existing and new — are slowing.”. Cleveland — Residential construction and real estate activity softened further amid rising interest rates. Single-family construction declined slightly.

Housing Market 418

Housing Market Marketing Supply Chain Real Estate 418

Housing Wire

SEPTEMBER 3, 2022

From BLS: Below are the areas where the report says jobs were created, and the construction job growth data is encouraging to see. Also, we must be mindful that multifamily construction has been good this year, with rental demand still solid. We aren’t there yet, but now is the time to be mindful of it.

Contracts 493

Contracts Construction Marketing Design 493

Housing Wire

JUNE 16, 2022

Multifamily construction is different than single-family homes. During the housing bubble years, all six flags came up in 2006 , so it was sometime before the job loss recession happened. . While this data line isn’t crashing, the ability to grow from these levels is limited with rising mortgage rates.

Housing Market 544

Housing Market Buyers Mortgage Construction 544

Housing Wire

JANUARY 21, 2021

Single-family housing starts ended 2020 on a high note, rising 12% in December to a 1.338 million unit pace – the highest pace since 2006, according to the Census Bureau. Remarkably, most industry experts believe construction rates will climb even higher in 2021. That’s up 27.8%

Construction 542

Construction Loan Officers Realtors Buyers 542

Housing Wire

MAY 24, 2022

months and above, the builders will pull back on construction. The only time this has happened was the 2006-2011 period. Yes, the builders have issues as rates have risen on them and this will impact the single-family construction aspect of their business. When supply is 4.4 months, this is just an OK market for the builders.

Housing Market 417

Housing Market Inventory Construction Marketing 417

Housing Wire

MAY 6, 2022

Look at the jobs data and which sector added jobs in March: Construction jobs came in positively, but the real winner was manufacturing jobs. Job openings in construction and manufacturing are big in America today. The unemployment rate currently stands at 3.6%. The notion that robots and immigrants took all the jobs was simply a joke.

Transportation 350

Transportation Construction Retail Real Estate 350

Housing Wire

MARCH 28, 2022

Similarly, companies like Zillow and Trulia launched in 2005 and 2006 as “real estate search engines” to help buyers more easily find a home online. For instance, Opendoor was founded in 2014 to make buying a home more efficient – or as they say “reinvent life’s most important transaction.”

Real Estate 387

Real Estate Marketing Insurance Technology 387

Housing Wire

APRIL 7, 2023

The monthly jobs report showed losses in construction, retail trade, and manufacturing, while the other sectors showed growth. The last time I had six recession red flags was late in 2006. Bureau of Labor Statistics reported today. Some college or associate degree: 3.0% Bachelor’s degree or higher: 2.0%

Housing Market 485

Housing Market Marketing Mortgage Retail 485

Housing Wire

NOVEMBER 28, 2022

The downturn in the LEI reflects consumers’ worsening outlook amid high inflation and rising interest rates, as well as declining prospects for housing construction and manufacturing. In addition, we have a lot of two-unit construction built, which will bring more supply online. But we don’t have that this time.

Transportation 530

Transportation Construction Housing Market Mortgage 530

Housing Wire

OCTOBER 27, 2022

The last time I had all six red flags raised was in late 2006. I recently wrote about this topic, with the construction of 910,000 two-unit homes that the builders need to get to the market next year. Job openings are still over 10 million today, and jobless claims are below 220,000 , a historically low level. was in a recession.

Mortgage 543

Mortgage Housing Market Marketing Construction 543

Housing Wire

FEBRUARY 8, 2022

Loans for second homes, investment properties, cash-out refinances, construction loans, multi-unit properties, renovation loans, condos, co-ops or manufactured homes are not eligible. There’s still some battle scars from 2006 to 2009 where appraisers were made to be the scapegoats,” Pyle said.

Appraisal 367

Appraisal Appraisal Process Valuation Renovations 367

Empire Appraisal Group

APRIL 22, 2021

Between a wave of foreclosures, rising rents, and underbuilding of new homes, the housing market became much harder to crack into from 2006 to 2017. Builders are still reacting to land, material and labor constraints that have dampened construction over the past decade or so. All rights reserved.

Construction 78

Construction Finance Housing Market Buyers 78

Housing Wire

DECEMBER 29, 2022

Housing went into recession in 2006 and prices weren’t collapsing that year either. The housing economy is built on housing construction, and the recession that started in June meant housing permits were going to fall, which they have. Let’s look at the recessionary factors we see now versus 2008. Home sales.

Housing Market 545

Housing Market Marketing Inventory Sellers 545

Housing Wire

JANUARY 22, 2021

To their credit, homebuilders and construction companies have increased efforts to build, with housing starts hitting an annual rate of near 1.7 However, it will take vigorous new home construction in 2021 and in 2022 to adequately furnish the market to properly meet the demand.”. Home sales in the West fell 1.4% from December 2019.

Construction 448

Construction Investors Realtors Real Estate 448

Empire Appraisal Group

SEPTEMBER 8, 2022

Scary times: builders are slashing home prices and slowing construction as buyers pull back, survey shows” (MarketWatch). The housing market is entering the ‘most significant contraction in activity since 2006,’ says Freddie Mac economist” (Fortune). “Homebuilder confidence suffers near-record plunge” (Newsweek).

Housing Market 78

Housing Market Marketing Real Estate New Listings 78