Housing Wire

MARCH 10, 2025

This was driven by an increase in both single-family and multifamily construction. Importantly, new construction activity outpaced household formations for the first time since 2016. million homes the third-largest gap for any year since 2012, trailing only 2020 and 2023. But as Hale pointed out, the U.S.

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Housing Wire

DECEMBER 6, 2022

Exurban areas (large metro outlying counties) recorded the largest 12-month decline in single-family construction, dropping from an annual growth rate of 31.9% It uses county-level data for single and multi-family permits to gauge housing construction growth in both urban and rural metros. in Q3 2021 to a rate of -4.4% in Q3 2022.

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Housing Wire

JANUARY 17, 2024

New home construction exploded early in the pandemic as soaring home demand squeezed existing inventory nationwide, giving homebuilders a much bigger share of a shrinking pie. Index values for most construction inputs are down from 2022 but remain above pre-pandemic levels. That could set the backdrop for a slower pace of construction.

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Housing Wire

OCTOBER 8, 2021

After losing 3,000 jobs in August , the construction sector added 22,000 jobs in September. However, construction employment is still 201,000 jobs below its February 2020 level. The average hourly earnings of production and non-supervisory employees in construction are up 5.8% below its pre-pandemic level.

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Housing Wire

MAY 6, 2021

of homes sold in the fourth quarter of 2020 that were affordable to households earning the median income of $78,500. “After a surprising gain for housing affordability in 2020 that was driven by historically low interest rates, housing emerged as a bright spot for the overall economy,” said NAHB Chairman Chuck Fowke.

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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.

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Housing Wire

JUNE 3, 2022

After a month of very little change in April , the construction sector had a solid month of job growth in May, according to the U.S. Construction gained 36,000 jobs in May, with residential building adding 5,000 jobs and residential specialty trade contractors gain 11,700 jobs. The post Residential construction jobs now 7.6%

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Appraisal Buzz

AUGUST 19, 2024

Meanwhile, pending sales – a more current gauge of demand that includes both existing and newly-constructed homes – fell to the lowest level of any month on record aside from April 2020, when the pandemic brought the housing market to a halt. They declined 2.9% from a month earlier and 5.8% year over year in July.

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Appraisal Buzz

DECEMBER 2, 2024

New multifamily construction projects started in the last two years have hit the market in 2024, with a greater supply of units helping to soften rents and bring renters some relief,” said Danielle Hale, Chief Economist at Realtor.com. Nationwide, the average rent price fell by -0.8%

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Housing Wire

SEPTEMBER 5, 2023

It uses county-level data for single and multi-family permits to gauge housing construction growth in both urban and rural metros. The latest HBGI data continue to show a changing geography for home construction,” Robert Dietz , the NAHB’s chief economist, said in a statement. at the end of 2019 to 12% earlier in 2023. in Q2 2023.

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Housing Wire

NOVEMBER 1, 2024

This is the lowest monthly jobs number since employment fell in December 2020,” Lisa Sturtevant, chief economist at Bright MLS , said in a statement. Construction was another sector that posted gains in October, adding 8,000 jobs. The average monthly job gain for the past 12 months is 194,000.

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Appraisal Buzz

APRIL 10, 2025

Renters now have more options thanks to the flood of newly constructed apartments brought about by the current construction boom, which has caused rents to level off below their record high. In February, the median asking rent increased by just 0.2% year over year to $1,604. Which Metros Boast the Best?

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Housing Wire

JULY 8, 2022

The construction sector, meanwhile, had only a slight gain, according to the U.S. recorded in February 2020. But employment showed little change over the month in other major industries, including construction, retail trade, financial activities, government and other services. Job growth in the U.S. in June 2021.

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Housing Wire

FEBRUARY 28, 2024

It is a notoriously expensive housing market and maintains an estimated population of more than 260,000 people, according to data from the 2020 U.S. Like many localities across the country, Marin County leaders describe a housing crisis in their area that they hope to alleviate through the construction of more ADUs.

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Housing Wire

JUNE 5, 2023

The town of Newton, Massachusetts is working to comply with a new state law that requires the construction of new multifamily housing units in areas served by public transit, according to reporting from the Boston Globe. Some apartments have been constructed in recent years, but the construction level has been low.

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Appraisal Buzz

OCTOBER 25, 2024

The town had the second-worst population decline between 2020 and 2023 (-6.6%), which might explain why new building permits between 2022 and 2023 decreased by 22%. The city’s population is falling (down 1% between 2020 and 2023), and new home-building permits decreased 15% in just one year (2022 to 2023). between 2020 and 2023.

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Housing Wire

FEBRUARY 13, 2024

Although this is up from 9,962 active listings one year earlier, it is still below the 13,442 listings recorded in early February 2020, just prior to the onset of the COVID-19 pandemic. New construction is backed up,” she said. As of Feb. Inventory was the theme last year and it is shaping up to be the theme this year,” Ellison said.

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Housing Wire

AUGUST 15, 2023

With strong demand and limited options for existing homes, many homebuyers are turning to new construction. Mortgage applications for new construction home purchases increased 35.5% of purchase applications came from the FHA , the highest share since May 2020. On a monthly basis, applications ticked up by 0.2%. Overall, 24.2%

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Appraisal Buzz

DECEMBER 17, 2024

The percentage of newly constructed apartments that were rented out within three months of completion, or the absorption rate, was the second-lowest seasonally adjusted share since the middle of 2020. The post Newly Constructed Apartment Asking Rents Get Significant Bump first appeared on The MortgagePoint.

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Appraisal Buzz

JANUARY 27, 2025

Over 40% of respondents chose that explanation for 2020 and 2021. The second most often stated explanation each year was new construction or home repairs. With between 37 and 55% of responses, Home repairs or new construction was the second most often given solution.

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Housing Wire

AUGUST 16, 2024

One key data line that is flagging a path to recession is the loss of residential construction workers. Today, housing starts activity is at the levels we saw during the brief pandemic-fueled recession of 2020. Let’s look at today’s residential construction report and see where we are. Why is this happening?

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Housing Wire

OCTOBER 26, 2020

This dramatically slowed the rate of growth in construction in 2019. Details from the Census Bureau/HUD report released today : Sales of new single-family houses in September 2020 were at a seasonally adjusted annual rate of 959,000. The median sales price of new houses sold in September 2020 was $326,800.

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Housing Wire

NOVEMBER 22, 2024

And even in January 2020, just prior to the pandemic, average apartment rents were $1,400. of existing supply, with another 38,000 of apartment units under construction (12.2% We believe rates (including financing rates) staying higher for longer will delay any rebound in construction activity in the near term,” he wrote.

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Housing Wire

FEBRUARY 4, 2022

unemployment rate recorded in February 2020, just prior to the Covid-19 pandemic. After months of growth, the construction sector lost 5,000 jobs in January from December, due to the loss of 9,500 jobs in heavy and civil engineering construction. Residential building construction employment is up 5.3% in December.

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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. percent)* above the December 2020 rate of 1,661,000. percent) above the December 2020 rate of 1,758,000. percent (±10.1

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Housing Wire

JUNE 7, 2021

million until 2020-2024. We ended 2020 with just 1,380,000 starts. Even in the years 2020 to 2024, however, which are very favorable for housing, I don’t see a credit sales boom or construction boom brewing in the current data — nor do I expect to see either of these shortly.

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Housing Wire

AUGUST 18, 2021

in July compared to the prior month, an indication that construction supply lines are still choked and near record-high home prices are shutting out scores of buyers. “There are now almost 690,000 single-family homes under construction – the largest number since 2007. Housing starts in the U.S. million units. .

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Housing Wire

APRIL 16, 2021

That’s up 37% from a year ago, but it’s important to take into account that the COVID-19 virus first took hold of the housing market in March 2020, said Doug Duncan, chief economist at Fannie Mae. Suburban multifamily housing construction is also benefitting from this trend.” Single-family housing starts rose 15.3%

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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. Since the summer of 2020, I have genuinely believed the housing market could change once the 10-year yield broke over 1.94%. “I don’t expect a boom in housing construction.

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Housing Wire

SEPTEMBER 21, 2021

homebuilders started construction on 1.615 million homes in August, up 3.9% higher than the August 2020 rate. higher than the August 2020 rate. This increase comes as builders continue to face material shortages and a tight construction labor market. from July 2021 and 17.4% Census Bureau and the U.S. Additionally, 1.33

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Housing Wire

AUGUST 17, 2020

Housing activity has the potential to return to its early 2020 growth trajectory. Last month, Buildfax estimated if single-family authorizations and existing housing activity continue to gain, new construction could stabilize in the Fall. Maintenance volume also rose 5.6% last month, though spend declined 0.75% year-over-year.

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Housing Wire

NOVEMBER 17, 2021

Revisions came in negative, but the real story here is that housing is back to its slow construction phase, which isn’t shocking considering where monthly supply is at and the delays in construction that we are all aware of. percent) above the October 2020 rate of 1,595,000. percent)* below the October 2020 rate of 1,356,000.

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Housing Wire

DECEMBER 15, 2020

New home purchases in November 2020 increased 34.7% November new home sales activity, both mortgage applications and home sales, ran at a pace considerably ahead of 2019, showing the ongoing strong growth in housing demand and new residential construction,” Kan said. The seasonally adjusted estimate for November is a decrease of 10.8%

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Housing Wire

APRIL 1, 2022

A total of 431,000 non-farm payroll jobs were added in March, and employment in the construction industry is now above its pre-pandemic level, after the industry added 19,000 jobs. The unemployment rate is now just marginally higher than its February 2020 level of 3.5%. In the construction industry, unemployment fell 6.0%

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Housing Wire

MARCH 23, 2021

Although sales were up 716,000 compared to sales in February 2020, they were 18.2% (±13.9%) below the revised sales in January 2021 of 948,000. Higher mortgage rates at some point are going to quell any construction boom, despite what you may have heard from other analysts. This was a big miss from estimates.

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Appraisal Buzz

MARCH 3, 2025

They also reported that, as of 2023, at least eight states have policies that preempt local bans of ADU construction. A 2020 Freddie Mac study indicated there are 1.4 At that time, the study showed that ADU construction was rising by 8.6% million properties with ADUs across the United States. per year over the last decade.

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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% increase from 2020. above the 2020 figure. 2021 was a strong year for construction.”. “The above the 2020 figure. Census Bureau.

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