Housing Wire

APRIL 2, 2021

Sectors that were hit hardest by the pandemic led job growth last month, with jumps in leisure, hospitality, public and private education and construction – good signs for the housing industry. For housing, March gained 110,000 jobs in construction – a positive sign in an industry struggling with supply constraints. Labor Department.

Inventory 514

Inventory Construction Housing Market Business 514

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

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. 291,000 homes are still under construction: 5.7 In the last report, the builders had 9.0

Construction 526

Construction Housing Market Inventory Marketing 526

Housing Wire

MAY 24, 2024

Founded in 2008 and based in Fort Mill, South Carolina , Movement Mortgage offers a range of products including conventional, jumbo and government-insured loans, as well as a dedicated reverse mortgage division. The lender also provides rate-and-term and cash-out refinancing, along with construction and renovation loans.

Mortgage 447

Mortgage Renovations Loan Officers Retail 447

Housing Wire

SEPTEMBER 21, 2022

Housing construction in the U.S. months of homes they have under construction or have not even started yet. Now that mortgage rates have spiked up so much, the housing construction growth we have seen in single-family construction is done. The builders will pull back on construction when the supply is 6.5

Construction 525

Construction Housing Market Marketing Business 525

Housing Wire

FEBRUARY 24, 2023

months of the supply is active listings, 68K 5 months of the supply is still under construction, 280K 1.6 The majority of inventory comes from the existing home sales market and if you compare it to 2008, back then we didn’t even have 200,000 homes available for sale and currently we are at 68,000. When supply is 4.3 months and above.

Inventory 501

Inventory Construction Housing Market Mortgage 501

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 210

Construction 210

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.

Construction 468

Construction Property Management Development Housing Market 468

Eyes on Housing

MAY 26, 2022

At 11,000 units started, this was the best quarter for condo construction since the third quarter of 2008. As a result, the market share of rental units of multifamily construction starts decreased to 91% during the first quarter. Read More ›

Construction 187

Construction Marketing 187

Housing Wire

NOVEMBER 27, 2023

Veev said at the time that the funding would be used to scale its operations, accelerate its research and development, and expand construction into new markets. Veev was founded in California, in 2008 by Amit Heller, Ami Avrahami, and Dafna Akiva.

Inspection 482

Inspection Investors Investing Insurance 482

Housing Wire

MARCH 23, 2023

As I have stressed time after time, we shouldn’t be using the housing economic models of 2002-2008 — that would have led everyone to believe we had a mass supply of housing coming online in 2022. We didn’t have the credit stress issue from 2010-2023 like we did from 2005 through 2008. When supply is 4.3 When supply is 4.4

Inventory 545

Inventory Housing Market Construction Marketing 545

Housing Wire

JANUARY 19, 2023

My entire working premise in the previous expansion was that we would have the weakest housing recovery ever, from 2008-2019, and that we wouldn’t have housing starts open a year at 1.5 million until 2020-2024, when demand would finally warrant that type of construction. There are 943,000 apartments currently under construction.

Mortgage 508

Mortgage Construction Marketing Housing Market 508

Housing Wire

JANUARY 26, 2024

A new report from Construction Coverage sourced by its researchers and data from the U.S. In 2008, at the onset of the Great Recession, Americans over the age of 55 owned 44.3% Utah “stands alone” with only a 30.4% composition of baby boomer homeowners, the report said. “In of homes,” the report explained. “By

Marketing 468

Marketing Construction Housing Market Mortgage 468

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. Also, in the chart below, we can all agree it isn’t housing 2005 or housing 2008 with new home sales. months of the supply are homes that are still under construction, about 259,000 homes 1.6

Construction 516

Construction Inventory Marketing Buyers 516

Housing Wire

NOVEMBER 24, 2021

months and above, the builders will pull back on construction. This is also why I still will never believe in a construction boom premise here in America. They know higher rates give them a disadvantage and total sales levels are not working from a low bar anymore as they did from 2008-2019. When supply is 4.4 When supply is 6.5

Construction 511

Construction Marketing Housing Market Mortgage 511

Housing Wire

AUGUST 29, 2022

The construction industry has yet to fully recover from the 2008 financial crisis when it lost a big segment of its skilled construction workforce. Pandemic-related supply chain snags have impacted the prices of key construction inputs like lumber, steel, and copper. The good news.

Construction 459

Construction Supply Chain Finance Legal 459

Housing Wire

JUNE 24, 2022

Five months of the supply are homes in construction. That is a high level, and two months of the supply hasn’t started construction yet, and a whopping 0.68 The builders will pull back on construction when the supply is 6.5 We don’t say the new home sales market supply is the existing home sales market. When supply is 4.4

Inventory 488

Inventory Construction Marketing Mortgage 488

Housing Wire

APRIL 18, 2023

As you can see in the chart below, this looks nothing like the housing peak in 2005 and the crash toward 2008. However, because of the COVID-19 delays, we are still working through a backlog of homes under construction. As you can see in the chart below, we have a historic number of 5-unit construction in the works.

Mortgage 521

Mortgage Construction Supply Chain Housing Market 521

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

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. This is largely due to a delay in homebuilding caused by supply-line disruptions and shortages of construction materials. Homebuilders are starting to catch up.

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. This demand curve prevents a boom and bust cycle from happening, as we saw from 2002 to 2008. This is a huge positive for the U.S.

Mortgage 493

Mortgage Construction Contracts Housing Market 493

Housing Wire

NOVEMBER 25, 2020

I have been consistent in my stance that during the years 2008 to 2019, we had the weakest housing recovery ever. Only then would we see enough demand from the new home sales market to warrant that much construction. months, then the market has issues, and builders will likely stall on construction. If inventory breaks over 6.5

Housing Market 538

Housing Market Inventory Construction Marketing 538

Housing Wire

JULY 15, 2024

Her achievements at RE/MAX include being inducted into the brokerage’s Hall of Fame (2008) and Circle of Legends (2018), as well as a Lifetime Achievement award (2011). According to a news release, the team has a particular focus on new construction, luxury homes and waterfront properties. million.

Technology 435

Technology Agents Clients Brokerage 435

Housing Wire

MARCH 21, 2023

Although he noted similarities to the market of 2008, Ratiu stressed the current market has some important differences. Consumers today are much better qualified to purchase both in terms of credit scores, savings, and income,” Ratiu said. For the US market, we are in an extremely favorable demographic environment.

Real Estate 397

Real Estate Real Estate Agent Housing Market Agents 397

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.

Supply Chain 511

Supply Chain Housing Market Construction Inventory 511

Housing Wire

SEPTEMBER 28, 2022

However, it does show that the builders are in a much better spot to deal with their massive supply, compared to the 2005-2008 period. The builders will pull back on construction when the supply is 6.5 months are under construction, 1.86 For that reason, I wouldn’t read too much into the revisions. When supply is 4.4

Construction 505

Construction Sellers Inventory Housing Market 505

Housing Wire

JANUARY 19, 2022

You always want to be skeptical of any housing starts data that comes in too strong or too negative from the trend, and we had some specific factors in this report that boosted multifamily construction. However, with that said, the low bar this data line had enjoyed from 2008-to 2019 is gone and we do need to earn growth in this sector.

Construction 496

Construction Housing Market Inventory Marketing 496

Housing Wire

JULY 14, 2023

Bordick , under the federal Truth in Lending Act (TILA) on behalf of a couple that took out a mortgage in 2008 in order to purchase land for the construction of a new home. While they sold the home in 2014, the sale proceeds were not enough to cover the debt since the home lost value during the 2008 financial crisis.

Law 368

Law Mortgage Construction Lending 368

Housing Wire

AUGUST 18, 2020

The Census report on new construction showed a whopping 22.6% To understand the housing recovery during the COVID-19 crisis, it is critical to remember that from 2008-2019 we experienced the weakest housing recovery from a crash ever recorded. increase above the revised June estimate in housing starts in July.

Housing Market 546

Housing Market Marketing Construction Inventory 546

Housing Wire

JANUARY 26, 2021

According to the CoreLogic Buyer/Seller Market Indicator, which measures the ratio between sold price and list price, buyer competition reached a new peak nationally in October and November when the ratio climbed to 0.996 – the highest level since 2008, when the data series began. But it will be some time before these changes bring relief.

Inventory 544

Inventory Housing Market Buyers Sellers 544

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

JANUARY 1, 2024

To give an example of what I am talking about, from 2008 to 2011, new listings data ran between 250,000 and 400,000 each week, with the peak seasonal data at 370,000 and 400,000. They have 106,000 homes that they haven’t even started construction on yet, and only 78,000 new homes have been completed and are ready to sell.

Housing Market 531

Housing Market Marketing New Listings Construction 531

Housing Wire

DECEMBER 23, 2020

However, construction should continue at a slow and steady pace. months and above, builders tend to halt construction. I used the monthly supply chart in the previous expansion to prove my thesis that housing would have its weakest recovery ever in the years 2008-2019. When monthly supply is 4.4 When monthly supply gets to 6.5

Inventory 531

Inventory Construction Housing Market Design 531

Housing Wire

NOVEMBER 16, 2022

According to the NAHB, the average price reduction was 6%, roughly half the size of the 10% to 12% price cuts seen in the Great Recession of 2008. To remedy this “housing sector recession,” the NAHB is calling on policymakers to take action. Three other indices monitored by the NAHB also posted declines in November.

Buyers 545

Buyers Mortgage Real Estate Housing Market 545

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. For this to work, we would need to prevent NIMBY lawsuits from delaying construction projects. If supply goes over 6.5

Inventory 545

Inventory Construction Government Housing Market 545

Housing Wire

DECEMBER 2, 2020

Virgin Islands have a higher limit ceiling than the rest of the country to account for the higher costs of construction. In approximately 65 high-cost U.S. There are also a few areas where loan limits are calculated differently than the rest of the country due to the specific nature of those housing markets.

Law 534

Law Housing Market Insurance Construction 534

Housing Wire

JANUARY 27, 2023

291,000 homes are still under construction: 5.7 The builders will pull back on construction when the supply is 6.5 I do understand why certain people, especially 2008 housing crash people, are confused about why the homebuilders’ stocks have rallied so hard recently. months of supply. When supply is 4.4 months and above.

Mortgage 545

Mortgage Construction Buyers Inventory 545