Remove 2016 Remove Buyers Remove Construction
article thumbnail

The Fastest-Growing State in the Nation Is …

Appraisal Buzz

In the years since the COVID-19 pandemic, the Texas economy has boomed, especially in high-demand industries like technology, education, manufacturing and construction. The median newly constructed home on the market in Texas was 2,073 square feet, down from 2,189 in 2020, a 5.3% active listings nearly every year since 2016.

Inventory 300
article thumbnail

Regulatory costs add nearly $94K to new home prices

Housing Wire

Of that $93,870, $41,330 is attributable to regulation during development, and $52,540 is due to regulation during construction. The study was filed out by 2,071 NAHB members and 57 developers, and nearly all of the builders — 98.9%, per the study — reported experiencing some type of regulatory cost during construction.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

More Priced Out of Homeownership as Housing Costs Mount

Appraisal Buzz

High interest rates and housing prices have priced millions of potential buyers out of the housing market, while the number of renters with cost burdens is at an all-time high, according to a new study released by Harvard University’s Joint Center for Housing Studies. last year to 65.9%, the smallest growth reported since 2016.

article thumbnail

Making housing more affordable by bridging the affordable supply gap

Housing Wire

As Candace Taylor writes in The Wall Street Journal , “These days, buyers eschew the large, ornate houses built in [previous] years in favor of smaller, more-modern looking alternatives.” However, new construction trends do not reflect this changing preference. And 71% say that interested buyers are often unable to secure financing.

Finance 435
article thumbnail

RE/MAX closes out fall months with new top-producers, franchisees

Housing Wire

Ruehrwein, who became a licensed agent in 2017 after working in the new construction industry for 28 years, serves clients in Rehoboth and surrounding Massachusetts towns, as well as East Providence and the Narraganset area of Rhode Island. “My Bentley and Christie are no strangers to RE/MAX, as both are former RE/MAX agents.

Agents 435
article thumbnail

GSEs Seek Input on Duty to Serve Plans

Appraisal Buzz

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
article thumbnail

How ‘granny flats’ might save LA from affordable housing doom

Housing Wire

The program targets new construction and converts existing unpermitted units to meet building codes. The City of Long Beach also offers loans of up to $250,000 to homeowners for ADU construction provided that the units are rented to low-income households. The application is open to qualifying homeowners until Feb.

Law 368