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%. 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%.

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Housing Wire

FEBRUARY 13, 2024

As a point of comparison, in the benchmark year of 2019, 31,000 new homes were purchased in the top 50 master planned communities. With multiple builders offering an array of home types and floor plans, buyers can find homes that fit their life stage. MPCs also provide builders with a wealth of lots in highly desirable communities.

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Appraisal Buzz

DECEMBER 5, 2024

As native-born household formation increased leading up to the pandemic, the share of growth from foreign-born households decreased to 23% between 2015 and 2019. in April 2020 and reaching a low of 2.65% in January 2021, which boosted housing demand as buyers sought to capitalize on increased purchasing power. As the U.S.

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Housing Wire

FEBRUARY 5, 2024

single-family homes for sale were new construction, similar to the percentage from a year earlier and good for the highest level of any fourth quarter on record. In 2011, only 13% of homebuilders worried about the cost of labor, versus 87% in 2019. An estimated 668,000 new homes were sold in 2023, 4.2% Census Bureau and the U.S.

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Housing Wire

JULY 20, 2021

” Mark Palim, deputy chief economist at Fannie Mae , said anecdotal reports of builders delaying or turning down orders to clear a growing construction backlog appears to be borne out by the recent housing starts data. With lumber prices recently pulling back, we expect some near-term strength in construction. million and 1.92

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Housing Wire

MARCH 8, 2023

This resulted in the gap between single family home construction and household formation growing to 6.5 With just 10% of homes sold in Q4 2022 selling for under $300,000 compared to 41% in Q4 2019, affordability is a growing concern. During that same time period, just 13.1 million housing units were started , and 11.9

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Housing Wire

FEBRUARY 21, 2024

billion in sales is still 40% above 2019 levels. In the multifamily space, by contrast sales are down 65% from where they were in 2019. Those sales include “major buyers” like Inland , Blackstone, Starwood and American Realty Advisors , the company pointed out in its report.

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Housing Wire

OCTOBER 11, 2021

First and foremost, it is important to remember that more Americans are buying homes with mortgages in 2020 and 2021 than any single year from 2008-2019. From 2008 to 2019 we had the weakest housing recovery ever, following a bust. Don’t expect a buying or construction boom during this period.

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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. month figure recorded in October 2019. Similarly, in 2018 and 2019, mortgage rates rose to 4.75 Hard pass.

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Inventory Construction Government Housing Market 545

Appraisal Buzz

NOVEMBER 1, 2024

According to a new Redfin research, in Q3 of this year, an estimated 28% of single-family homes for sale nationwide were newly constructed, the lowest percentage in three years. Census reports that in September 2024, sales of newly constructed single-family houses increased 6.3% Overall construction has slowed. a year ago.

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Housing Wire

AUGUST 12, 2020

Yun said he doesn’t see home prices decreasing anytime soon, as low mortgage rates are attracting new buyers while there is record-low inventory. lower than total inventory at the end of Q2 2019. In the midst of the pandemic, some buyers are looking for housing in less crowded and more affordable metros.”. For measure, in Q2 1.57

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Inventory Buyers Realtors Construction 525

Housing Wire

SEPTEMBER 22, 2020

compared to 2019 levels. 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

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Housing Market Marketing Construction Buyers 543

Housing Wire

FEBRUARY 1, 2021

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.

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Housing Wire

JULY 26, 2023

An analysis of the Census Bureau ‘s Survey of Construction 2022 microdata showed that builders started building smaller, attached homes – with more stories and fewer bedrooms — than they had in previous years. Compared to pre-pandemic levels, single-family home starts in 2022 exceeded 2019’s starts by 14.3%. over that same span.

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Construction Finance Buyers Housing Market 370

Housing Wire

MAY 16, 2023

The NAHB/HMI report is based on a monthly survey of NAHB members, in which homebuilders are asked to rate both current market conditions for the sale of new homes and expected conditions for the next six months, as well as traffic of prospective buyers of new homes. That share from 2000-2019 was a 12.7%

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Housing Wire

MAY 16, 2024

A key conclusion is that while new construction creates additional supply for first-time and move-up buyers alike, it comes with an additional expense. While many metro areas currently offer an advantage where you can purchase a new construction home for a similar price or even less than the average area home, there is still a 23.8%

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Appraisal Buzz

JULY 1, 2024

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.

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Housing Wire

APRIL 15, 2024

These metros also continue to grapple with below-average inventory recovery, maintaining pressure on buyers. New Orleans, Austin and San Antonio are the three markets where buyers have more choices than before the pandemic, while Tampa, Orlando and Jacksonville are down only 9%, tied for the second-smallest drop.

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Housing Market Inventory Buyers New Listings 468

Housing Wire

MARCH 9, 2021

The index plunged from record highs seen in late 2019 after the COVID-19 pandemic resulted in the worst economic contraction since the Great Depression. “Expected home sales growth this year is still likely to be driven by first-time buyers, spurred by millennials reaching peak first-time homebuyer age,” Kan said.

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Mortgage Government Buyers Contracts 497

Housing Wire

AUGUST 16, 2023

Under the new regulations, construction of new residential buildings can continue in areas that have a designated water provider since homebuilders and developers do not need an AWS certificate to obtain a building permit. The homes out there do tend to be more affordable though, so that is probably going to hurt some first time home buyers.”

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Appraisal Buzz

JUNE 14, 2024

The key is to tailor the financial solutions to meet the needs of various borrowers, including first-time home buyers, those who are looking to move up, and buyers willing to purchase fixer-uppers. That is a significant increase from the 13% average between 2000-2019 in new construction.

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Housing Wire

JULY 13, 2022

Keeping the figures simple, here is some math tied to the NAHB blog: If lumber in 2019 was $400/mbf, lumber cost was $11,200 per home If lumber in 2020 was $1070/mbf, lumber cost was $29,800 per home If lumber in 2022 is $400/mbf, lumber cost is back to $11,200 per home. From 2019 to 2022, interest rates added $474.

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Supply Chain Buyers Construction Mortgage 435

Housing Wire

JANUARY 10, 2022

Sellers saw a market where their homes sold quickly and often above list price as multiple buyers competed to have the winning bid. . Even with this increase, fixed-rate loans will still be cheaper than they were before the pandemic: In the 2010-2019 decade the interest rate averaged 4.1% for 30-year fixed-rate loans.

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Housing Market Marketing Construction Inventory 545

Housing Wire

MAY 12, 2021

While mortgage rates are at an all-time low, people looking to buy their first home — particularly millennials, who accounted for half of all new home loans in 2019 — have a limited and aging stock of houses to choose from. Construction has traditionally been slow to pick up new technology compared to other industries.

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Housing Wire

MAY 23, 2023

While the national inventory of single-family homes is down more than 50% compared to the level in early May 2019, the inventory of new homes for sale at the end of April (433,000 homes) is up 30% compared to the end of April 2019. Typically, sales of new single-family homes account for less than 10%.”

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Inventory Construction Development Buyers 418

Housing Wire

MAY 26, 2022

If you follow the trend of housing supply since 2014, it’s been falling every year — with a pause in 2018-2019 — and then collapsed lower post-2020. Now don’t get me wrong: demand is better in 2020 and 2021 than in any single year from 2008 to 2019. So, on average, just 500,000 more homes were bought than in 2019.

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Inventory Housing Market Construction Marketing 526

Housing Wire

NOVEMBER 4, 2024

This indicates that buyers and sellers alike are showing signs of frustration in waiting for rates to fall. New construction inventory has grown in recent months. New homes, however, still occupy a larger market share compared to pre-pandemic levels, with inventory rising from 17% of all listings in 2019 to nearly 30% in Q4 2021.

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Marketing Inventory Construction Realtors 370

Housing Wire

APRIL 26, 2021

At the highest points in 2019 and 2020, average home sale prices never went above $300,000 and $325,000, respectively. And on top of that, builders are struggling to construct new homes given an ongoing lumber shortage. Average listing prices never approached $325,000 in 2019.

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Sellers Housing Market Marketing Buyers 482

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

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Mortgage Inventory Housing Market Construction 505

Housing Wire

MAY 8, 2023

That key source of affordable housing inventory: distressed properties sold to third-party buyers or repossessed by lenders at foreclosure auction. In 2019 the number was 200,000. When including the approximately 900,000 single family homes constructed by new homebuilders during the year, according to data from the Census and U.S.

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Inventory Renovations Supply Chain Buyers 435

Housing Wire

NOVEMBER 22, 2024

What’s more, operating costs for apartment and SFR (single-family rental) operators are up significantly since 2019 due to higher property taxes, insurance, and payroll costs. The sheer amount of additional supply on the market has really given buyers more of a leg up,” she said. “I Year over year, apartment rents are down -7.5%

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Marketing Housing Market Property Taxes Construction 370

Housing Wire

DECEMBER 20, 2024

The New Home Market Update from Zonda, a construction data provider, was released Friday. higher year over year and 17% above 2019 levels. But a new report from Zonda says that after the election, consumers have started to regain their confidence in home shopping. The election was over it was time to move on. from October 2024.

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Buyers Construction Marketing Mortgage 230

Housing Wire

MAY 25, 2021

In order to account for uncertain prices and availability of materials, homebuilders are holding off on making homes available until they are further along in the construction process. This is not due to a lack of demand; quite the opposite, Speakman noted. ” Technology for navigating secondary market challenges. .

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Construction Technology Development Marketing 448

Housing Wire

MARCH 28, 2024

Thanks to the efficiencies baked into the construction processes of manufactured homes, these factory-built houses are both faster and less expensive to build than site-built homes, saving buyers between $50,000 to $100,000 per unit.

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Appraisal Buzz

OCTOBER 7, 2024

Meanwhile, Florida’s more metropolitan areas saw a heap of new construction, a contributing factor to Miami’s inclusion on the list at number seven. In response, eager sellers have brought prices down, suggesting that buyers are in a good position to negotiate,” Jones said.

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Inventory Housing Market Buyers Construction 417

Housing Wire

JULY 22, 2021

“Ideally, the costs for a home would rise roughly in line with income growth, which is likely to happen in 2022 as more listings and new construction become available.”. First-time buyers accounted for 31% of sales in June, also even with May but down from 35% in June 2020. share in June 2019. million in June, up 1.4%

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Inventory Buyers Realtors Construction 508

Housing Wire

MAY 10, 2022

Now, after months of plumbing record lows, inventory finally began to rise in March, and it looks likely that we’ll finally notch year-over-year growth sometime in 2022 — a milestone we haven’t seen since fall of 2019. At the pace it’s recovering now, inventory would take about 30 months – September 2024 – to reach pre-pandemic, 2019 levels.

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Inventory Housing Market Construction Sellers 418