Appraisal Buzz

DECEMBER 5, 2024

The recent surge in immigration to the United States has ignited discussions about its potential effects on the housing market, particularly concerning housing costs. Senior Research Analyst Riordan Frost from the Harvard Joint Center for Housing Studies, recently took a deeper dive into the impact of immigration on the U.S.

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Housing Wire

NOVEMBER 30, 2023

Historically high rates harmed the housing market in October Annualized existing home sales remained below 4 million in October, the lowest rate since 2010. Meanwhile, new home sales posted a better performance as homebuyers pivoted to new construction amid waning existing home supply. New home sales fell 5.6%

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Housing Wire

APRIL 11, 2022

Yes, but this is where my work is much different from other housing economists and why we need to think of inventory in a new, modern 21st-century mindset. Then in 2018, when mortgage rates got to 5%, we had a supply shock for the builders, which in essence stalled out construction for 30 months. million to 1.93

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Housing Wire

OCTOBER 26, 2023

For those new construction units, the national median new home price is projected to drop by 5.9% This underscores the importance of increased inventory in helping to get the overall housing market moving,” Yun added. They dropped below 4 million for the first time since October 2010, she added. in 2024, to $445,800.

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Housing Wire

MARCH 23, 2023

However, with active listings now near all-time lows, the builders’ new homes still have more value in the housing market than what we saw in previous decades. We didn’t have the credit stress issue from 2010-2023 like we did from 2005 through 2008. months and below, this is an excellent market for builders.

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Housing Wire

MARCH 23, 2022

We finally got mortgage rates to rise, and for people like me who have been concerned about how unhealthy the housing market was last year — and it got a lot worse this year — it’s a blessing that was much needed. As you can see below, the new home sales market from 2018-2022 doesn’t look like the housing market we had from 2002-2005.

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Housing Wire

MAY 26, 2022

It’s an excellent time to discuss housing inventory. The housing market shifted in March of this year. As the 10-year yield broke above 1.94% and mortgage rates rose, we saw the impact on housing data. Yes, crazy to think, but this is a survey trend data line, and the housing market was in free-fall at that time.

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Housing Wire

MARCH 29, 2022

Yes, but this is where my work is much different from other housing economists and why we need to think of inventory in a new, modern 21st-century mindset. Then in 2018, when mortgage rates got to 5%, we had a supply shock for the builders, which in essence stalled out construction for 30 months. million to 1.93

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Housing Wire

FEBRUARY 17, 2022

Census Bureau reported that housing permits came in at an excellent print at 1,899,000 , surprising me. Then I took a look at housing completions at 1,246,000, and it reminded me of the sad state of the housing market. You can understand why I keep saying this is the unhealthiest housing market post-2010.

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Housing Wire

NOVEMBER 22, 2024

“Apartment rents have dropped by nearly 15% in two years, which is warp speed for the housing market. Austin fits the classic example of a boom/bust housing market, where a collapse is taking place.” of existing supply, with another 38,000 of apartment units under construction (12.2%

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Housing Wire

FEBRUARY 15, 2024

housing market for multiple reasons, Redfin said. were 65 and older as of 2020, up from 13% in 2010,” the report reads. Some young families are turning to new construction, and others are renting homes.” Less than 7% of millennials have been in their homes for at least 10 years.

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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. An estimated 1,724,700 housing units were authorized by building permits in 2021. From Census: Housing Completions Privately?owned

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Housing Wire

JANUARY 20, 2023

Homebuilder confidence and demand for mortgages have increased recently, keeping hopes high for an improved housing market in 2023. But a modest recession is still expected this year, and elevated mortgage rates, coupled with high home prices, will limit housing activity, according to Fannie Mae.

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Housing Wire

MAY 16, 2024

The subsequent housing market crash sharply reduced that number to an average of about 50,000 originations per year from the late 2010s through 2020. Researchers estimated that the Federal Housing Administration (FHA) incurred a net loss of approximately $10.4 billion from the program.

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Housing Wire

APRIL 14, 2023

This article is part of our 2023 Housing Market Forecast series. Bringing together some of the top economists and researchers in housing, the event will provide an in-depth look at the top predictions for this year, along with a roundtable discussion on how these insights apply to your business.

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Housing Wire

APRIL 23, 2024

More on that topic and why existing home prices are still up here. Now, the builders can mitigate the damage of higher mortgage rates and prevent home sales from dropping to the lowest level of sales ever (which was in 2010 at 305,000.)

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Housing Wire

APRIL 24, 2023

million, the existing home sales forecast represents the slowest annual pace since 2010, according to the ESR Group. New home construction is expected to pull back later in 2023 – consistent with Fannie Mae’s forecasted recession – which is due, at least in part, to tighter credit availability for construction lending.

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Housing Wire

DECEMBER 4, 2020

over the next three years – nearly a percentage point lower than the average of the 2010-2019 decade. When more houses do hit the market, CoreLogic predicts millennials will generate the strongest demand over the next several years. On average, CoreLogic predicts mortgage rates to sit closer to 3.2%

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Housing Wire

JANUARY 7, 2022

Construction jobs came in positive but we still have a fairly high level of construction job openings currently. The lack of construction productivity over the decades has been one reason why I have never believed in a housing construction boom in America. This also means housing starts are rising.

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Housing Wire

AUGUST 10, 2023

In June, insurance giants State Farm and Allstate pulled out of California’s home insurance marketplace, citing mounting construction costs. The actions contributed to instability in the state’s insurance markets which could have significant implications for homebuyers.

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Housing Wire

DECEMBER 20, 2021

Even in the extreme conditions of COVID-19, my general premise on housing economics predicted that the two variables with the most influence — demographics and mortgage rates — would hold up the housing market. We should see slow growth in new home sales and housing starts as long as the monthly supply of new homes is below 6.5

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Housing Wire

SEPTEMBER 3, 2022

From BLS: Below are the areas where the report says jobs were created, and the construction job growth data is encouraging to see. Also, we must be mindful that multifamily construction has been good this year, with rental demand still solid.

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Housing Wire

AUGUST 29, 2023

The effect of mortgage rates Since the beginning of June, mortgage rates climbed up by more than 60 basis points, highlighted Bright MLS Chief Economist Lisa Sturtevant, while existing home sales were down to their lowest levels since 2010. Simultaneously, economists observed a modest uptick in supply.

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Housing Wire

APRIL 1, 2022

The years 2020-2024 were going to be different not only for the housing market but also for the labor market. Just whistle, folks — that is a hot labor market. Look at the jobs data and which sector added jobs in March: Construction jobs came in positively, which we need in this country.

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Appraisal Buzz

JUNE 14, 2024

As homeowners and renters nationwide continue to struggle with high housing costs, on the for-sale side, millions of potential homebuyers have been priced out of the market by high home prices and interest rates, while the number of renters with cost burdens has hit an all-time high.

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Will Springer Realtor

OCTOBER 15, 2024

The 408 single-family-home sales in Seattle were the fewest for any September since the peak of the Great Recession in 2010 (371). This is leaning toward a buyers’ market, particularly in Seattle, where a full 7.0 months, the greatest since April 2010 (14.5 The Eastside condo market is at 3.0 King County overall has 4.4

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DataMaster

FEBRUARY 25, 2021

Between 2010 and 2017, homeownership rates increased only among adults aged 65 and older. We’ve all seen the memes about the extremely low inventory in the housing market in 2021. New Home Construction. New home construction permits rose by 22.5 While housing starts fell slightly year over year (2.3

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Hank Miller Team

NOVEMBER 8, 2021

But in this maelstrom comes a confident 2022 housing market forecast from Goldman Sachs; they predict home prices will appreciate 16 during 2022. In 2019 the housing market found its legs and combined with a historically strong economy and low rates, the housing market caught fire.

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Miller Samuel

MARCH 19, 2019

A large swath of high-end condo market activity of the past five years are non-primary residences which include pieds-a-terres but most are investor purchases that are subsequently rented after the unit closes when construction was completed. That article came out in 2014 right as the housing market was peaking.

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Empire Appraisal Group

OCTOBER 28, 2021

USA TODAY spoke to eight experts to find out if a housing crash is on the horizon. For one, they say the housing market in 2021 is not like the boom-bust cycle leading up to the Great Recession. Given the strong housing market and price appreciation, banks are more likely to work with borrowers to restructure their loans.

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Empire Appraisal Group

DECEMBER 19, 2024

from a year ago, NARs latest housing report shows. million, this is the lowest sales activity for existing homes since October 2010. With wage growth now outpacing home price appreciation, housing affordability will improve. Buyers may find more inventory in the new-home sector as builders continue to ramp up construction.

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Birmingham Appraisal

AUGUST 14, 2024

An Interesting Trend Among New Homes As a residential real estate appraiser in the Birmingham, AL market for over 30 years I have seen many changes in new home construction. Census Bureau, home size steadily increased from 1999 through 2008/2009, which we all know was when the housing market crashed.

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Raleigh Realty

JULY 12, 2022

A healthy housing market indicates a healthy national economy. It’s no secret Raleigh is an up-and-coming city, but how’s the local real estate market doing? According to the latest census, the population in Raleigh grew by almost 64,000 residents between 2010 and 2020. The largest population in Raleigh is 25 to 34 (18.9)

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Housing Wire

JUNE 16, 2021

The National Association of Realtors says the current state of the housing market is absolutely “dire,” the consequence of a housing shortage 30 years in the making. According to the lobbying group, construction of long-term housing fell 5.5 between 2010 and 2020 fell 6.8 in the last decade.

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DataMaster

FEBRUARY 25, 2021

Between 2010 and 2017, homeownership rates increased only among adults aged 65 and older. We’ve all seen the memes about the extremely low inventory in the housing market in 2021. New Home Construction Coming into 2020, there was already a shortage of 2.5 New home construction permits rose by 22.5

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DataMaster

FEBRUARY 25, 2021

Between 2010 and 2017, homeownership rates increased only among adults aged 65 and older. We’ve all seen the memes about the extremely low inventory in the housing market in 2021. New Home Construction. New home construction permits rose by 22.5 While housing starts fell slightly year over year (2.3

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Appraisal Today

SEPTEMBER 8, 2023

It’s been on and off the market since 2014, four years after a lengthy construction project there was completed. But that popularity did not translate into a sale, and the stately dwelling returned to the market more recently in 2021 for $35 million. After all, this isn’t the first time the unique property has been listed.

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