Housing Wire
MAY 26, 2022
Today, however, the purchase application data is actually down to levels we saw in 2009 ! How can housing inventory be so low today when it skyrocketed back in 2009? We have more housing starts under construction now than in recent history! We have a lot of multifamily construction going on that won’t help the homebuyer.
Housing Wire
JANUARY 8, 2021
Due to massive losses in the servicing sector outnumbering professional and construction job gains, the raw number of nonfarm payroll employment fell by 140,000 – the first decline since April of last year. More workers in the sector should support the faster pace of housing construction the market needs,” Fratantoni said.
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Housing Wire
OCTOBER 14, 2021
From 2009 to 2019, the share of recent buyers who are 60 years and old grew 47% , while the share of recent buyers ages 18-39 fell by 13%. In addition, the median age of a homebuyer who completed their purchase within the past year rose from 40 in 2009 to 44 in 2019. Over the same time period, home values grew 31.2%. .”
Housing Wire
DECEMBER 29, 2023
And with the ability to buy down consumers’ mortgage rates while still maintaining double-digit margins, new construction grew to comprise roughly 30% of total housing inventory in 2023, more than double a normal year. Let’s look at the new construction forecast for 2024. million new single-family construction units in 2024.
Housing Wire
JANUARY 19, 2022
Construction of single-family homes dropped 2.3% from November to 1.172 million units, the construction of multifamily units again posted a sizable increase of 13.7% Housing demand has outstripped supply since 2009,” First American deputy chief economist Odeta Kushi said in a statement. 2021 was a strong year for construction.”.
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.
Housing Wire
NOVEMBER 5, 2024
Between 2009 and 2021, the typical home purchased was built in the early 1990s. This is largely due to a delay in homebuilding caused by supply-line disruptions and shortages of construction materials. The age of homes purchased is also telling. In 2022 and 2023, however, the typical home purchased was built in the mid-1980s.
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