Housing Wire

MAY 26, 2022

Now don’t get me wrong: demand is better in 2020 and 2021 than in any single year from 2008 to 2019. 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? Credit stress was evident from 2005 to 2008.

Inventory 526

Inventory Housing Market Construction Marketing 526

Housing Wire

APRIL 25, 2023

According to this theory, we have more homes under construction than any time in history. The truth is, it’s not 2008 all over again. I understand the lure of the housing 2008 story. months and above, the builders will pull back on construction. 267,000 homes are under construction, still.

Inventory 501

Inventory Housing Market Construction Marketing 501

Housing Wire

JULY 17, 2024

Despite a 3% monthly increase , the pace of new housing construction was 4.4% Multi-family construction has cooled considerably, while the dip in new single-family construction was more modest,” Lisa Sturtevant, chief economist at Bright MLS , said in a statement. “A A slowdown in apartment construction is not surprising.

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Construction Property Management Development Housing Market 468

Housing Wire

FEBRUARY 16, 2023

There is one simple reason for this: it’s not 2008. 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. Buyers have fewer choices than normal in the past eight years — but in reality, since 1982.

Construction 526

Construction Housing Market Inventory Marketing 526

Housing Wire

JANUARY 26, 2021

Record low inventory and strong buyer demand once again pushed up the cost of homes in the U.S., “With buyer demand continuing to outpace the previous year’s levels amid historically lowest inventory of for-sale homes, the pressure on home prices is going to fuel home price growth in the first half of 2021,” Happ said.

Inventory 544

Inventory Housing Market Buyers Sellers 544

Housing Wire

FEBRUARY 24, 2023

They don’t ever have to have the conversation about how low their total payment is in the new home they’re buying, unlike some of their buyers (which explains higher cancellation rates). months of the supply is active listings, 68K 5 months of the supply is still under construction, 280K 1.6 Here is a breakdown of the supply data: 1.2

Inventory 501

Inventory Construction Housing Market Mortgage 501

Housing Wire

MARCH 23, 2023

This business model means that the builders are very mindful of the demand for their product and keep an eye out on their main competition, the existing home market, where supply is cheaper for a buyer. They can cut prices, pay down mortgage rates for their buyers, and do what they need to to make it work for them to move their products.

Inventory 545

Inventory Housing Market Construction Marketing 545

Housing Wire

NOVEMBER 27, 2023

One of the urban myths spouted by people needing more experience tracking housing data was that millions of homes would hit the marketplace in 2023 because the builders had so many homes under construction. Even in the worst housing bubble crash of our lifetime in 2008, the number of new homes for sale was under 200,000.

Construction 482

Construction Buyers Mortgage Inventory 482

Housing Wire

JUNE 27, 2023

The builders have managed their backlog nicely to ensure this data line doesn’t explode higher on them like we saw in 2008. This means new homes — with all the bells and whistles — can peel some buyers from the existing home sales market, especially if they pay down mortgage rates. Now on to the report. This represents a supply of 6.7

Construction 516

Construction Inventory Marketing Buyers 516

Housing Wire

NOVEMBER 5, 2024

The COVID-19 pandemic impacted the housing market like no event since the 2008 financial crisis, but some of the trends induced by the pandemic are starting to reverse. That’s evident in the annual profile of home buyers and sellers from the National Association of Realtors (NAR), which provides data on dozens of real estate trends.

Realtors 468

Realtors Housing Market Construction Real Estate 468

Housing Wire

MAY 18, 2022

Census Bureau released their new residential construction report for April, showing a miss on the estimate and a negative revisions data line, which I believe is lagging behind the current market reality. We simply cannot finish homes in America promptly, and now that mortgage rates are over 5%, some buyers won’t be able to purchase a home.

Mortgage 493

Mortgage Construction Contracts Housing Market 493

Housing Wire

JANUARY 27, 2023

The builders don’t like to see supply of existing homes growing for fear that their buyers might cancel on them. The growth of supply means demand is getting weaker, which will require builders to give more incentives to buyers. 291,000 homes are still under construction: 5.7 months of supply. When supply is 4.4 But since Oct.

Mortgage 545

Mortgage Construction Buyers Inventory 545

Housing Wire

SEPTEMBER 22, 2020

The context for this number is that from 2008-2019 my belief was that we would have the weakest housing recovery ever, but in the years 2020-2024, our demographics for housing became vastly improved. I have said for many years that we wouldn’t see total housing construction start a year at 1.5 million or higher until this year.

Housing Market 543

Housing Market Marketing Construction Buyers 543

Housing Wire

APRIL 14, 2023

The National Association of Realtors Research Group has produced the index since 2008, a time of turbulence in the real estate market. Since October of 2022, the share of buyers who are purchasing their home without a mortgage has been more than one quarter of the market. One such measure is who is entering the market.

Realtors 459

Realtors Buyers Inventory Investors 459

Housing Wire

JUNE 10, 2022

We can’t just show homes; we have to be a professional real estate business, which means being able to have real conversations when buyers and sellers ask us questions like, “Did we miss the market?” “Are Of course, the answer is about why this is not the same market — in any way — to post 2008. Are we in a housing bubble?”

Sellers 397

Sellers Housing Market Inventory Buyers 397

Housing Wire

MARCH 21, 2023

” Ratiu said KCM’s focus on providing relevant insights and information to agents so they can educate buyers and sellers was one reason he joined the company. Although he noted similarities to the market of 2008, Ratiu stressed the current market has some important differences.

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Real Estate Real Estate Agent Housing Market Agents 397

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. 2) Tighten lending standards, so there are fewer buyers that qualify for the existing inventory. If supply goes over 6.5

Inventory 545

Inventory Construction Government Housing Market 545

Housing Wire

JANUARY 6, 2022

Homebuilders responded to the shortage of homes for sale, accelerating new home construction, even as they face severe supply-side challenges, including rising building material costs and supply-chain bottlenecks, a lack of affordable lots, and difficulty in finding skilled labor. Since 2018, the housing supply deficit has been growing.

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Supply Chain Housing Market Construction Inventory 511

Housing Wire

MARCH 23, 2022

Though February’s new sales were below recent highs, builders are still selling homes at a higher seasonally adjusted rate than they did at any point between 2008 and 2019,” Zillow economist data analyst Dan Handy said in a statement. Buyers are facing a housing market that looks to be as competitive as ever,” Handy said in a statement.

Supply Chain 397

Supply Chain Housing Market Buyers Construction 397

Housing Wire

JANUARY 19, 2024

It happened in 2008 and then didn’t happen again until 2023. From NAR: First-time buyers were responsible for 29% of sales in December; Individual investors purchased 16% of homes; All-cash sales accounted for 29% of transactions; Distressed sales represented 2% of sales; Properties typically remained on the market for 29 days.

Housing Market 493

Housing Market Inventory Contracts Marketing 493

Housing Wire

OCTOBER 5, 2023

in 2008 and 2009. some luxury residential markets that saw an influx of Chinese buyers could be particularly vulnerable. This could make raising capital for new construction projects harder, and more expensive, everywhere. Like a slow-motion train wreck at first, it is now definitively off the rails and heading over a cliff.

Real Estate 459

Real Estate Housing Market Marketing Investors 459

Housing Wire

FEBRUARY 8, 2022

Supply-side” solutions that focus on new construction and the preservation of the existing housing stock are equally important. since 2008. Despite unprecedented demand for new housing, just 28% of sales in the last 12 months went to first-time buyers, the lowest level in the? Low housing inventory. been falling sharply ?since

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Construction Investing Landlords Development 370

Housing Wire

MAY 31, 2022

When we help bring distressed properties back to the market, it’s up to 31% less expensive than a new construction home.”. Since its establishment in 2008, the firm said it has bought and sold about $12 billion in residential real estate.

Mortgage 397

Mortgage Construction Lending Real Estate 397

Housing Wire

JULY 7, 2022

Slow construction and restrictive zoning laws. One of the major causes of low inventory has been due to slowed construction. After the housing crisis of 2008, many homebuilders went out of business, and for years following the recovery, building did not pick up to the level needed to accommodate demand.

Inventory 418

Inventory Marketing Mortgage Supply Chain 418

Housing Wire

JUNE 20, 2023

Housing completion data is still the saddest housing data line we have, but it also shows how different the housing market is now versus when housing crashed in 2008. months and above, the builders will pull back on construction. Some of those homes haven’t even started construction yet. When the supply is 6.5

Housing Market 508

Housing Market Construction Sellers Marketing 508

Housing Wire

MARCH 23, 2022

For 2020-2024, I set some critical parameters for sales and price growth, knowing that this marketplace will be different from the market we had from 2008 to 2019. It’s also driven more by mortgage buyers who tend to be older and make more money than the new-home buyers. First, total home sales should be 6.2

Mortgage 505

Mortgage Inventory Housing Market Construction 505

Housing Wire

DECEMBER 20, 2022

After record sales in 2021, demand for new construction waned throughout 2022 as the Federal Reserve raised interest rates cutting into home buyer’s purchase power and making financing new development projects even more costly for builders. BH: What are you expecting to see in terms of demand for new construction heading into 2023?

Supply Chain 397

Supply Chain Construction Inventory Finance 397

Housing Wire

DECEMBER 20, 2022

“November continued to see a slip in home construction activity, despite inflation cooling off and mortgage rates falling,” Nicole Bachaud, Zillow’s economist, said in a statement.

Housing Market 370

Housing Market Construction Inventory Design 370

Housing Wire

DECEMBER 8, 2022

Over the last four weeks, mortgage rates have declined three-quarters of a point, the largest decline since 2008. The analysis considers a buyer of a median-price home for sale today making a 10% down payment. The extent of recent booms, current construction levels, and changes in migration patterns (e.g.,

Mortgage 397

Mortgage Home Value Construction Investors 397

Housing Wire

JUNE 2, 2022

How can high prices be sustained when a buyer’s buying power is stretched so thin? Here’s the problem, what we all remember is the housing crash of 2008 to 2009. A data point that explains the resiliency of the housing market: the number of households forming vs. the number of homes constructed.

Housing Market 468

Housing Market Supply Chain Construction Clients 468

Housing Wire

NOVEMBER 1, 2022

It’s impossible to pick out just one factor, but longstanding underinvestment in new housing, coupled with a confluence of certain federal and monetary policies, have all played a role in limiting options for first-time home buyers. Since 2008, major banks have pumped over $25 trillion into the global economy. requires up to 6.8

Buyers 418

Buyers Tenants Housing Market Marketing 418

Housing Wire

DECEMBER 20, 2021

million in the years 2008-2019, this is new and existing home sales combined. I have never believed in the housing construction boom premise as mature economies don’t have construction booms with slowing population growth. However, one thing is for sure: demand has been solid and stable in 2020 and 2021. More on that here.

Housing Market 544

Housing Market Inventory Mortgage Marketing 544

Housing Wire

APRIL 24, 2023

In addition, some white neighborhoods had zoning laws that legally banned non-white buyers from owning homes in those neighborhoods. This means that the most likely buyer for many of these new retirees will be a minority family. Lower homeownership rates mean there will be fewer buyers. GDP, roughly $3 trillion.

Legal 397

Legal Housing Market Government Buyers 397

Housing Wire

MARCH 26, 2024

The inventory shortage — in addition to high financing costs tied to elevated interest rates and related inflation for construction expenses — led to a nearly 30% decline in home flips in 2023, according to real estate data firm Attom. For example, there were 50,000 new homes constructed by builders last year in Dallas-Fort Worth,” he said.

Investors 482

Investors Marketing Inventory Real Estate 482

Appraisal Buzz

SEPTEMBER 20, 2021

Nothing like the correction and recession of 2008 expected, but notable, nonetheless.). Buyers and sellers? The construction industry? But they’ll eventually deliver lucidity — allowing buyers, sellers, agents, appraisers, and lenders to plan and budget accordingly. And what does this mean for the economy? Interest rates?

Valuation 195

Valuation Property Appraisal Real Estate Sellers 195

Appraisal Buzz

JUNE 11, 2024

History of the DTS program FHFA issued a final rule in 2016 that implemented the DTS provisions of the Housing and Economic Recovery Act of 2008 (HERA). Other factors playing into affordability issues for today’s buyer includes: Mortgage interest rates tripled from May 2020 to October 2023, and remain steadily around the 7%-mark.

Finance 390

Finance Real Property Design Lending 390

Housing Wire

JULY 25, 2023

I do a lot with new construction and homeowners’ insurance is cheaper on new builds because they are brand new,” Williams said. One of my recent new home buyers got their final quote on a property a 30-minute drive from the coast and it had gone up 40% from a year ago.

Insurance 370

Insurance Housing Market Marketing Agents 370