Appraisal Buzz

OCTOBER 14, 2024

The gap was as wide as 18% in 2012, following the global financial crisis of 2007–2009, when many minority communities were hit especially hard, setting back progress by several years. However, the gap remains wider compared to mid-2022 (17.2%) and mid-2007, shortly before the housing bust (16.3%). last year and a recent high of 12.4%

Home Value 394

Home Value Construction Buyers Mortgage 394

Housing Wire

JULY 26, 2022

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.

Construction 514

Construction Housing Market Inventory Marketing 514

Housing Wire

JUNE 16, 2021

The total number of homes under construction increased 1.2% — the 12th consecutive monthly increase and its highest level since 2007. Permits for new construction by homebuilders dropped 3%, largely because lumber and building material costs kept prices high. Single-family housing starts in May were at a rate of 1.1 from April.

Real Estate Agent 493

Real Estate Agent Construction Real Estate Inventory 493

Housing Wire

MARCH 23, 2023

Back in 2007 — after existing home sales got as low as we have seen in the recent data as the chart below shows — total active listings were above 4 million. This is a massive difference in inventory data and a plus for the homebuilders, which they didn’t enjoy in 2007. The builders will pull back on construction when the supply is 6.5

Inventory 531

Inventory Housing Market Construction Marketing 531

Housing Wire

OCTOBER 19, 2023

for the first time since 2007, according to one index. Incoming data shows that the construction of new homes rebounded in September but as rates keep rising, home builders appear to be losing confidence. As a result, we expect construction to trend down in the short-term,” he said.

Mortgage 482

Mortgage Housing Market Inventory Construction 482

Housing Wire

FEBRUARY 16, 2023

However, the glaring difference today versus the recession of 2008, is that in 2007 the builders had to deal with over 4 million active listings as competition for their pricey new homes. In an odd twist of fate, the delays due to COVID-19 are currently an infrastructure and jobs program for Americans in the construction industry.

Construction 478

Construction Housing Market Inventory Mortgage 478

Appraisal Buzz

JUNE 18, 2024

Despite the construction boom that happened shortly after pandemic restrictions began being lifted—that has since slowed—the U.S. This balance of available homes to homeseekers reached a tipping point when the Great Recession hit in 2007-2009—a balance which reached a tipping point when the recession ushered in a decade of underbuilding.

Inventory 448

Inventory Construction Law Real Estate 448

Housing Wire

DECEMBER 29, 2020

Larger homes have become more popular as more homeowners are working from home, becoming a main driver for construction. Single-family housing starts saw their highest gain since 2007 in November, according to the U.S. Census Bureau. Housing starts rose 1.2% in November compared to October and are up 12.8% million starts.

Buyers 543

Buyers Construction Realtors Inventory 543

Housing Wire

MAY 31, 2024

Large institutional investors typically emerged following a raft of defaults and foreclosures stemming from the 2007-08 financial crisis , putting inventory on the market from 2007-09. Studies GAO reviewed found that no investor owned 1,000 or more single-family rental homes as of late 2011,” the results said.

Investors 359

Investors Inventory Government Construction 359

Housing Wire

NOVEMBER 17, 2022

For this reason, the number of housing units “under construction” is the largest ever recorded in history because they were taking so long to finish. Housing construction productivity has always been terrible compared to other sectors of our economy; I get that, as we still build homes with hammers and nails, not robots.

Contracts 536

Contracts Construction Supply Chain Marketing 536

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? Housing tenure ran at five to seven years from 1985-2007 and now is 11-13 years from 2008 2022. This is true except for one big reality!

Inventory 500

Inventory Housing Market Construction Marketing 500

Housing Wire

MAY 23, 2023

This is different from the 2007 housing market when the builders’ sales were still collapsing and monthly supply spiked with rising cancellation rates. months and above, the builders will pull back on construction. The Inventory for homes under construction is 263,000 = 4.6 When supply is 4.4-6.4 When supply is 6.5

Inventory 524

Inventory Housing Market Construction Marketing 524

Housing Wire

MARCH 21, 2024

Adding his leadership skills will be beneficial at a time when Planet is looking to differentiate itself with various purchase loan products, one-time-close construction loans and other niche programs, the company stated.

Lending 356

Lending Retail Contracts Construction 356

Appraisal Buzz

NOVEMBER 26, 2024

Housing Market Supply and Demand: An analysis of housing inventory trends and construction pressures affecting pricing and availability. Dr. Conerly’s analysis included interest rates, inflation, and the Federal Reserve’s strategic direction, with insights into consumer behavior, government spending, and construction.

Real Estate 367

Real Estate Insurance Tenants Construction 367

Housing Wire

JANUARY 27, 2023

291,000 homes are still under construction: 5.7 The builders actually lucked out here because back in 2007, we had over 4 million active listings of existing home, which are usually cheaper than comparable new homes. The builders will pull back on construction when the supply is 6.5 months of supply. When supply is 4.3

Mortgage 532

Mortgage Construction Buyers Inventory 532

Housing Wire

JUNE 27, 2023

In 2007, we had more than 4 million total active listings, which was too much supply for the builders to compete effectively. months and above, the builders will pull back on construction The current data has seen significant improvement, as the chart below shows. When supply is 4.4-6.4 months , this is just an OK market for builders.

Construction 494

Construction Inventory Marketing Buyers 494

Housing Wire

AUGUST 26, 2021

There are now almost 690,000 single-family homes under construction – the largest number since 2007,” said Mike Fratantoni, the MBA’s chief economist. Census Bureau reported that housing starts hit 1,534,000 for July, missing estimates by 7%, but still a year-over-year improvement.

Mortgage 493

Mortgage Inventory Government Construction 493

Housing Wire

MAY 31, 2022

Geneva Financial, founded in 2007 by Aaron VanTrojen, has more than 130 branch locations in 46 states, according to the firm. When we help bring distressed properties back to the market, it’s up to 31% less expensive than a new construction home.”. Department of Agriculture (USDA). Chicago’s housing market started out hot in 2022.

Mortgage 397

Mortgage Construction Lending Real Estate 397

Housing Wire

DECEMBER 29, 2022

So, when housing peaked in 2005, we had a flood of inventory from home sellers who couldn’t buy a home, and that flood allowed the list to spike to over 4 million in 2007. As you can see below, today — a few days away from 2023 —with existing home sales trending at 2007 sales levels, it is strikingly different.

Housing Market 545

Housing Market Marketing Inventory Sellers 545

Housing Wire

NOVEMBER 6, 2020

Residential construction employment (including specialty trade contractors) posted another large increase this month, with job gains of 24,000, which Doug Duncan, chief economist at Fannie Mae , said is a welcome sign for a sector dealing with supply constraints. But despite residential construction employment climbing back to only 0.8%

Construction 363

Construction Housing Market Retail Business 363

Eyes on Housing

OCTOBER 20, 2021

Home construction slowed after 2007 as a result of the 2008 Great Recession, but home building staged a slow, modest recovery over the last decade, with a sharp acceleration in 2020. Read More ›

Marketing 196

Marketing Construction Housing Market 196

Eyes on Housing

DECEMBER 4, 2023

According to NAHB tabulation of data from the HUD/Census Bureau Survey of Construction (SOC), well over 20% of all single-family homes started had decks from 2005 through 2018—as many as 27% in 2007 and 2008. As discussed in Eye on Housing last year, builders have been including decks on fewer and fewer new homes recently.

Construction 180

Construction 180

Housing Wire

JUNE 2, 2022

Data shows homebuyers since 1954 built equity for decades ; those who did not build equity purchased between 2003 and 2007. A data point that explains the resiliency of the housing market: the number of households forming vs. the number of homes constructed. trillion, the most significant annual increase in equity.

Housing Market 468

Housing Market Supply Chain Construction Clients 468

Housing Wire

JULY 26, 2023

During the housing bubble crash years, active listings grew to more than 4 million in 2007 because most of the inventory in the U.S. NAR active listings data (see chart below): 2007: 4 million active listings 2023: 1.08 months of the supply are homes that are still under construction, about 260,000 homes 1.7 months to 7.4

Inventory 306

Inventory Construction Sellers Marketing 306

Housing Wire

JUNE 21, 2022

Data from John Burns Real Estate Consulting shows that student loan debt has increased 100% since 2007, keeping many renters in place. Yes, there are some government programs that provide construction components on permanent loans, but they are not ideal for inexperienced home buyers. There’s an even more subtle consideration.

Investors 418

Investors Renovations Inspection Government 418

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 2007, the number fell to 37,000. In the boom year of 2006, the number of new 5,000+ square foot homes reached a peak of 45,000. Read More ›

Construction 159

Construction 159

Housing Wire

MAY 3, 2023

The Federal Reserve (Fed) raised its key federal funds rate for the 10th consecutive time, announcing a 0.25% rate hike Wednesday to 5% to 5.25%, a level they have not reached since 2007. “After the awful 9% consumer price inflation in the summer of last year, the latest data shows 5% inflation.

Real Estate Agent 385

Real Estate Agent Inventory Loan Officers Mortgage 385

Appraisal Buzz

JULY 5, 2024

And while new construction may be necessary to create slack in the market, over the longer term, the rebalancing needed will originate from lower rates that ease the lock-in effect. He joined Fitch in 2007, and has held various roles since then. These dynamics will drive growth in the U.S. Sonola frequently speaks about the U.S.

Housing Market 361

Housing Market Marketing Finance Development 361

Housing Wire

OCTOBER 4, 2023

The industry segment totaled 823,091 jobs in 2021, the highest total since 2007. 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 388

Landlords Agents Brokerage Supply Chain 388

Housing Wire

OCTOBER 9, 2024

In the aftermath of the 2007-08 financial crisis, the Dodd-Frank Act and other mortgage regulations were primarily “geared to preventing payment shock,” Fratantoni said. As a model vendor, one of CoreLogic’s services is to construct risk models for insurers to better understand the severity and frequency of losses.

Insurance 406

Insurance Mortgage Property Taxes Construction 406

Housing Wire

DECEMBER 29, 2021

There’s a management process we do where we touch each listing approximately 23 times, from changing the status and stage in construction process to changing the photographs. You said before 2007 that you were providing services for homebuilders manually. And when a home is completed, you have to get the photography done.

Realtors 327

Realtors Real Estate Agent Agents Real Estate 327

Eyes on Housing

DECEMBER 5, 2022

These percentages may seem relatively high—and in fact they have increased significantly since July of this year—but they are nowhere near as high as they were during the 2007-2008 financial crisis. Questions on sales incentives have been a. Read More ›

Construction 207

Construction 207

Housing Wire

OCTOBER 21, 2020

million annualized pace for new construction — the highest level since 2007. MBA Associate Vice President of Industry Analysis Joel Kan explained that current inventory rests at just a three-month supply. He said as builders work to replenish the supply with new homes, the most recent census data shows a 1.1

Mortgage 414

Mortgage Inventory Housing Market Business 414

Housing Wire

APRIL 23, 2024

From there — and when combined with employment in construction and housing permit data — the thinking around rates will become clearer. “If In 2007, right around the time he started Altos Research, he was attending a conference where representatives of both companies were speaking.

Inventory 426

Inventory Housing Market Sellers Marketing 426

Housing Wire

JUNE 18, 2023

million The peak in 2007 was a bit over 4 million Currently we’re at 1.04 This week we will get the NAR existing home sales report, which will update that inventory data line, but total inventory levels are still historically low NAR total Inventory levels : Historically inventory is between 2-2.5

Housing Market 472

Housing Market Marketing Inventory New Listings 472

Housing Wire

JANUARY 24, 2022

It’s worth noting, however, that at its peak, just prior to the housing-market crash in 2007, private-label issuances accounted for nearly 60% of the mortgage-backed securities market, the Urban Institute’s data show. We do view the announcement to be a constructive one for the non-agency market,” he said.

Lending 299

Lending Mortgage Finance Housing Market 299

Housing Wire

SEPTEMBER 22, 2022

This month, she is lucky to have $2 million in her pipeline thanks to closing deals on a construction loan, a condo and a vacant lot. Despite the market slowdown, it hardly resembles the subprime mortgage crisis of 2007, loan officers and mortgage brokers said. And it’s going to get worse.

Mortgage 390

Mortgage Loan Officers Inventory Retail 390