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September single-family housing starts reached highest level since 2007

Housing Wire

above the revised August figure of 1.021 million, and a level not seen since 2007, Doug Duncan, chief economist at Fannie Mae , said. million annualized units, a level not seen since 2007. . million annualized units, a level not seen since 2007. “While starts were up 10.4% “The former rose 8.5% over the month to 1.1

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The homebuilders got lucky this time

Housing Wire

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. This is why construction workers haven’t been laid off while other jobs in the housing market have been. months of supply.

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Housing Market Tracker: Purchase apps surprise

Housing Wire

Active housing inventory grew while new listing data fell. New listings data is another big story with housing inventory. Since the second half of 2022, it has been trending at all-time lows This trend has continued all year long, so we have limited new housing to work with.

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Expanding Supply, Easing Prices Bring Relief to King County Housing Market

Will Springer Realtor

Realtor.com reported that our broader market (including Bellevue and Tacoma) experienced the sharpest rise in new listings compared with last year, up 42%. The 14% monthly rise in King County new listings included a shocking 52% surge in Seattle (1430 units). The number of Active listings is another eye-opener.

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HINTS OF SHARP INCREASE IN NEW CONSTRUCTION

Will Springer Realtor

Others – Meritage Homes (+20% YoY in 2021) and Tri Point Homes (+15-30% YoY in 2022) – expect tremendous growth of new communities. And many of the new projects are larger than in years past. Builders began construction on just under a million single-family homes in 2020. That’s the most since 2007. ——-.

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Will Springer Realtor - Untitled Article

Will Springer Realtor

The number of new listings for all home types – single-family, townhomes and condos combined – in King (887) fell 47% from November and declined 36% from December 2021. The construction crane was recently removed from the 8 th Avenue and Columbia Street location and interiors are being filled out with high-quality finishes.

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Home Prices Rising Toward Record Highs – Again

Will Springer Realtor

The county saw the combined number of single-family, townhome and condo listings increase in June by 4.4% While that percentage may appear strong, it’s nothing compared to the April-to-May rise of 18%, signaling a probable cooling of new listings in the future. New single-family-home listings rose 3.8%