Housing Wire

MARCH 29, 2022

Given the current housing inventory crisis, it might surprise people to realize this: we built too many homes during the housing bubble years. 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. Wait, what?

Inventory 435

Inventory Housing Market Marketing Modernization 435

Housing Wire

MARCH 17, 2022

Census Bureau released their construction report for February, showing a positive trend in housing construction data with a lovely print in housing permits at 1,859,000 and housing starts at 1,769,000. So far, housing construction has done well during 2020-2022 considering the economic drama. Today, the U.S.

Construction 488

Construction Housing Market Inventory Buyers 488

Housing Wire

MARCH 8, 2023

As the housing market cooled further during the fourth quarter of 2022, homebuilders also continued to pull back on single-family construction. It uses county-level data for single and multi-family permits to gauge housing construction growth in both urban and rural metros. in Q4 2019 to 11.8% in Q4 2019 to 11.8%

Construction 435

Construction Housing Market Marketing Buyers 435

Housing Wire

MAY 8, 2023

A key source of affordable housing inventory was cut in half over the last three years, resulting from well-intended but heavy-handed efforts to keep delinquent borrowers in homes. That key source of affordable housing inventory: distressed properties sold to third-party buyers or repossessed by lenders at foreclosure auction.

Inventory 435

Inventory Renovations Supply Chain Buyers 435

Housing Wire

JUNE 7, 2021

During the previous economic expansion from 2008 to 2019, the housing market was subject to the constant refrain of build more homes. The previous economic expansion from 2008 to 2019 was the weakest housing recovery ever. Because that period followed a housing boom and bust when inventory was overbuilt. Here is why.

Housing Market 545

Housing Market Marketing Inventory Construction 545

Housing Wire

OCTOBER 26, 2020

When mortgage rates got to 4.75% -5% in 2018, demand fell and inventory for new homes went up. This dramatically slowed the rate of growth in construction in 2019. We had to work off the excess housing supply created with those higher rates to get housing starts to be roughly flat for 2019. Anytime inventory dips below 4.3

Construction 545

Construction Inventory Mortgage Technology 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. For now, though, the low inventory means housing starts have legs to move higher. months, the builders are ok with construction as long as new home sales grow. If supply goes over 6.5

Inventory 545

Inventory Construction Government Housing Market 545

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.

Construction 476

Construction Supply Chain Inventory Housing Market 476

Appraisal Buzz

DECEMBER 10, 2024

Inventory on the Rise While the nations housing inventory remains a challenge, a recovery is underway, with the number of homes for sale in November notching the highest mark since December 2019. regions continued to see active inventory grow over the previous year. In November, all four U.S. in the West, 18.9%

Housing Market 415

Housing Market Marketing Inventory Government 415

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. Similarly, construction has slowed but remains elevated. Even at the reduced pace of construction, that still means about 20% of all build-to-rent inventory is under construction today.

Investors 493

Investors Construction Real Estate Inventory 493

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. The total supply of inventory of single-family homes is up 22% over the previous year. Overall construction has slowed. a year ago. Overall U.S.

Construction 370

Construction Inventory Real Estate Agent Agents 370

Housing Wire

MARCH 8, 2023

It is no secret that the housing market is suffering from an ongoing inventory drought. Existing housing inventory fell by 11,021 homes week over week for the week ending March 6, according to data from Altos Research. This resulted in the gap between single family home construction and household formation growing to 6.5

Housing Market 459

Housing Market Marketing Inventory Construction 459

Housing Wire

JANUARY 31, 2024

CoreLogic Principal Economist Molly Boesel told HousingWire the 2022 price boom was largely “a spillover from the for-sale market,” which has been stuck in a prolonged inventory crunch in the present high-mortgage-rate environment. Nationally, multifamily construction has grown at a faster rate than single-family construction.

Construction 482

Construction Inventory Property Management Housing Market 482

Housing Wire

MARCH 27, 2024

Those advantages, coupled with cheap land, made the city a favorite for homebuilders like DR Horton and Lennar that brought plenty of new inventory to market. Its listings in 2023 fell below its 2019 level, although the drop was less steep than that experienced outside of Florida and far less steep than other metros like San Diego.

Brokerage 476

Brokerage Realty Real Estate Inventory 476

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

Housing Market 511

Housing Market Marketing Inventory Construction 511

Housing Wire

JULY 26, 2022

This data line confirms what we all know to be the case: The housing market, at least as it relates to construction, is in a recession. We talked about this in March , and even last year, when I wrote about the problem with the housing construction boom premise. “I don’t expect a boom in housing construction.

Construction 514

Construction Housing Market Inventory Marketing 514

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. Higher levels of Inventory in the range of 4.4 If inventory breaks over 6.5 Anything below 4.3

Housing Market 538

Housing Market Inventory Construction Marketing 538

Housing Wire

NOVEMBER 4, 2024

As high mortgage rates reshape the housing market, existing homes are making up a larger percentage of for-sale inventory, and homebuyers are taking notice. The available inventory of existing homes rose by 22% year over year in Q3 2034. New construction inventory has grown in recent months.

Marketing 370

Marketing Inventory Construction Realtors 370

Housing Wire

DECEMBER 23, 2020

This is 11% (±9.5%) below the revised October rate of 945,000, but is 20.8% (±19.5%) above the November 2019 estimate of 696,000.” We don’t need to be concerned about the moderation in the new home sales data because inventory is still low. ” I’m sure you’ve heard the thesis that low inventory suppresses sales.

Inventory 531

Inventory Construction Housing Market Design 531

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. Second, because of the downtrend in inventory since 2014 and the demand pick-up we will see in the years 2020-2024, we had a risk of home prices accelerating too much.

Mortgage 505

Mortgage Inventory Housing Market Construction 505

Housing Wire

JULY 13, 2022

Looking at the housing market in the years 2020-2024, one risk i identified early on was that home prices could accelerate more in this period than we saw in the previous expansion if inventory channels broke to all-time lows. Back then, we had higher sales, higher inventory, and less price growth, but we had a massive credit bubble.

Inventory 540

Inventory Housing Market Mortgage Construction 540

Housing Wire

FEBRUARY 9, 2024

Lot inventory tightened on a quarterly basis, however, a signal of rising builder activity. The market saw a brief reprieve in lot availability as starts slowed, but the fourth quarter data captures the return of tightening as builders step up construction activity,” Zonda chief economist Ali Wolf said in a statement. “75%

Development 459

Development Inventory Construction Real Estate 459

Housing Wire

AUGUST 12, 2020

Historically low inventory continues to reinforce and even increase prices in some areas.”. 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. For measure, in Q2 1.57

Inventory 525

Inventory Buyers Realtors Construction 525

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. Phoenix, said Vogel, was already dealing with low housing inventory and increasing affordability issues.

Construction 370

Construction Agents Real Estate Agent Development 370

Housing Wire

AUGUST 18, 2020

The Census report on new construction showed a whopping 22.6% This is 22.6% (±14.7%) above the revised June estimate of 1,220,000 and is 23.4% (±12.4%) above the July 2019 rate of 1,212,000. We spent parts of 2019 whittling down the excess inventory. increase above the revised June estimate in housing starts in July.

Housing Market 546

Housing Market Marketing Construction Inventory 546

Housing Wire

JULY 23, 2024

Credit: Fannie Mae The company’s Economic and Strategic Research (ESR) Group noted that many large metro areas in the Sun Belt now have inventory levels that match or even exceed for-sale inventories of 2019, prior to the COVID-19 pandemic, which has caused Fannie Mae to downwardly revise its forecasts for housing starts and new-home sales.

Inventory 468

Inventory Housing Market Construction Mortgage 468

Housing Wire

OCTOBER 20, 2020

above the September 2019 rate of 1.274 million, the Bureau said. “The housing market is being constrained by the lack of inventory, with both new and existing homes being sold faster than new listings are arriving.”. above the September 2019 rate of 1.437 million. .” “While starts were up 10.4%

Construction 505

Construction New Listings Housing Market Inventory 505

Appraisal Buzz

JULY 1, 2024

Thankfully, the study found that some relief is in sight as rent growth is slowing due to a surge in new family rental units, and for-sale inventories are growing due to the increase in single-family construction. It was also two million more than in 2019, an increase of almost 10%, and the highest number on record.

Construction 415

Construction Inventory Property Taxes Insurance 415

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%

Construction 468

Construction Law Finance Realtors 468

Housing Wire

JANUARY 5, 2023

The 2022 housing market was savagely unhealthy , with all-time lows in inventory leading to massive bidding wars and price spikes until the Fed put a screeching halt to all of it with rate hikes that resulted in the most significant one-year spike in mortgage rate history. Housing Inventory. Home price s. million in 2023.

Housing Market 543

Housing Market Marketing Inventory New Listings 543

Housing Wire

APRIL 27, 2023

The lack of housing inventory is a major constraint to rising sales,” Lawrence Yun , NAR’s chief economist, said in a statement. Sales of new homes are already matching 2019 pre-COVID activity and are expected to increase in 2023, largely due to plentiful inventory in this segment of the market.” year over year.

Inventory 459

Inventory Realtors Contracts Construction 459

Housing Wire

MAY 16, 2023

New home construction is taking on an increased role in the marketplace because many home owners with loans well below current mortgage rates are electing to stay put, and this is keeping the supply of existing homes at a very low level ,” Alicia Huey, the NAHB chair, said in a statement. That share from 2000-2019 was a 12.7%

Construction 459

Construction Inventory Buyers Real Estate 459

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

APRIL 15, 2024

These metros also continue to grapple with below-average inventory recovery, maintaining pressure on buyers. Recovering inventory in these areas has helped to ease competition and bring price appreciation under control. Bidding wars are commonplace in these areas, exacerbated by a scarcity of options.

Housing Market 468

Housing Market Inventory Buyers New Listings 468

Housing Wire

FEBRUARY 24, 2023

Homebuilders’ for-sale inventory and months’ supply The seasonally-adjusted estimate of new houses for sale at the end of January was 439,000. months of the supply is active listings, 68K 5 months of the supply is still under construction, 280K 1.6 However, this isn’t how inventory grows in America. When supply is 4.3

Inventory 501

Inventory Construction Housing Market Mortgage 501

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. That’s a factor too of higher inventory.” of existing supply, with another 38,000 of apartment units under construction (12.2%

Marketing 370

Marketing Housing Market Property Taxes Construction 370

Housing Wire

JUNE 22, 2021

“Lack of inventory continues to be the overwhelming factor holding back home sales, but falling affordability is simply squeezing some first-time buyers out of the market,” said Lawrence Yun, NAR’s chief economist. Total housing inventory at the end of May grew to 1.23 Unsold inventory sits at a 2.5-month

Inventory 448

Inventory Buyers Realtors Housing Market 448