Housing Wire

OCTOBER 26, 2022

percent) below the September 2021 estimate of 732,000. The builders will pull back on construction when the supply is 6.5 When rates rose back in March, there was a considerable risk to the business model with many homes under construction. months of supply is still under construction 2.1 This is 10.9 percent (±15.2

Construction 488

Construction Inventory Contracts Buyers 488

Housing Wire

OCTOBER 18, 2021

But on Monday the home listings giant called a timeout on purchasing homes through the end of 2021. Zillow will keep trying to sell existing home inventory, plus renovate and try to resell homes it has purchased under contract, according to a company press release. construction workers. Broadly speaking, there’s a dearth of U.S.

Renovations 397

Renovations Real Estate Construction Contracts 397

Housing Wire

JUNE 17, 2021

Overall, the MBA estimates new single-family home sales were running at a seasonally adjusted annual rate of 741,000 units in May 2021. However, construction is still facing headwinds given permits for new developments by homebuilders dropped 3%, largely because lumber and building material costs kept prices high.

Inventory 511

Inventory Construction Contracts Mortgage 511

Housing Wire

JANUARY 19, 2023

compared to 2021, according to a report released Thursday by U.S. Housing starts fell again in December, but there are hopeful signs that builders will see a boost in buyer traffic in the coming months and new housing construction may have bottomed,” Lisa Sturtevant, BrightMLS’ chief economist, said in a statement. from December 2021.

Inventory 418

Inventory Construction Development Housing Market 418

Housing Wire

JUNE 23, 2021

A new home sale occurs when a sales contract is signed or a deposit is accepted. The home can be in any stage of construction: not yet started, under construction or completed. Supply-side challenges remained a persistent issue, with the count of new homes sold that had not started construction, up 76% over the last year.

Supply Chain 476

Supply Chain Construction Buyers Development 476

Eyes on Housing

OCTOBER 21, 2022

Median square foot prices (excluding record-high improved lot values) for new for-sale single-family detached (SFD) homes started in 2021 increased 19%, according to NAHB’s analysis of the latest Survey of Construction data. Median sale and contract prices per square foot of floor area went up. Read More ›

Contracts 179

Contracts Construction 179

Housing Wire

OCTOBER 18, 2021

Sentiment among homebuilders for newly build single-family homes rose four points in October to 80, the index’s highest reading since July 2021. This will spur more construction and help ease upward pressure on home prices.”. NAHB attributes this increase to strong consumer demand for homes. Treasuries and mortgage-backed debt.

Supply Chain 537

Supply Chain Inventory Buyers Housing Market 537

Housing Wire

JUNE 17, 2021

If the fed were to tighten policy, Fannie Mae’s ESR Group expects this to drag on upcoming housing market growth and even stifle home sales, house prices, construction and mortgage originations. Fannie Mae’s economic group said its outlook on mortgage rates will remain the same: 30-year fixed contract rate at 3% in 2021 and 3.3%

Mortgage 476

Mortgage Housing Market Contracts Construction 476

Housing Wire

JANUARY 9, 2023

Construction starts in the BFR market are being propelled by the ongoing demand for single-family rental units as high mortgage rates and limited for-sale inventory push home-purchase prospects further out of reach of many would-be homebuyers. In addition, JP Morgan Chase & Co.

Housing Market 545

Housing Market Marketing Construction Development 545

Housing Wire

OCTOBER 4, 2023

The effects on each industry segment were disparate, the most recently available data for 2021 shows. Business Dynamic Statistics data reveal that 2021 was a year of major growth for homebuilders but steep contraction for landlords (called “lessors” in the BDS). loss, in 2021. That total was a 4.9%

Landlords 448

Landlords Agents Brokerage Supply Chain 448

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. But the MBA is expecting big things from first-time homebuyers in 2021. The group’s Mortgage Credit Availability Index remained unchanged at 124.6

Mortgage 497

Mortgage Government Buyers Contracts 497

Housing Wire

MAY 19, 2022

It sees the second quarter of growth rebounding to 1.6%, despite the economy contracting 1.4% Fannie expects a slowdown in homesales for the second and third quarters of 2022, followed by a softening in construction activity and a large deceleration in home price growth. from April 2021 , according to the U.S. from March and 8.6%

Contracts 448

Contracts Mortgage Construction Development 448

Eyes on Housing

MAY 31, 2021

Builders and developers responding to NAHB’s Survey on Acquisition, Development & Construction (AD&C) Financing continued to report declining interest rates in the first quarter of 2021.

Development 165

Development Construction Contracts Finance 165

Housing Wire

OCTOBER 21, 2021

The gain in existing home-sales in September reflects contracts signed earlier in the summer,” Mike Fratantoni, MBA SVP and chief economist said in a statement. decrease from August 2021. Existing-home sales rose 7.0% in September after waning in August, according to a new report National Association of Realtors released Thursday.

Inventory 435

Inventory Buyers Realtors Contracts 435

The Robert Weiler Company

JANUARY 2, 2021

Are you familiar with a land contract in Ohio, as well as the state-specific requirements? What is a land contract in Ohio, really? Essentially, a land contract is an alternative financing option if you’re investing in: Farmland or raw land. So, what is a land contract agreement, and how does it work? A home or condo.

Contracts 143

Contracts Tenants Legal Sellers 143

Eyes on Housing

FEBRUARY 17, 2022

In the fourth quarter of 2021, effective interest rates decreased on all four categories of loans tracked in NAHB’s Survey on Acquisition, Development & Construction (AD&C) financing.

Development 167

Development Construction Contracts Finance 167

Housing Wire

JULY 19, 2023

Go Mortgage sued its former director of capital markets for “corporate sabotage,” alleging computer fraud, violation of trade secrets, breach of contract and tortious interference with a business relationship. Chikonde, who was hired in January 2021, managed Go Mortgage’s warehouse lines, pricing, hedging and loan sales.

Mortgage 370

Mortgage Marketing Retail Construction 370

Housing Wire

FEBRUARY 23, 2021

Finally, lumber and other building materials are still scarce, forcing construction companies to delay projects and prevent an inventory build-up. Of course, this is all fantastic news for anyone looking to sell their home in 2021. December 2020’s 10.4%

Inventory 468

Inventory Finance Contracts Construction 468

Housing Wire

FEBRUARY 18, 2022

Homes priced between $100,000 and $250,000 were down 23% from January 2021, while sales of homes priced between $750,000 and $1 million rose 33%. Homes went under contract in just 19 days on average, down from 21 a year ago. Indeed, January saw the strongest pace of existing-home sales in a year, even though home prices increased 1.8%

Supply Chain 435

Supply Chain Inventory Buyers Contracts 435

Housing Wire

JUNE 17, 2024

The mortgage lender, which grew to 9,708 employees at its peak in 2021, shrank to 3,871 workers as of April due to a declining origination market. Among all of its companies, excluding contractors, the total declined from 14,264 in 2021 to 5,756 as of May. Some sources said they were afraid of legal pushback.

Human Resources 454

Human Resources Law Loan Officers Legal 454

Housing Wire

SEPTEMBER 14, 2022

Philadelphia — Homebuilders reported that contract signings for new homes continued to fall modestly. Cleveland — Demand for residential construction and real estate remained well below levels experienced earlier in the year. Contacts attributed softer demand to high construction costs and rising interest rates.

Construction 370

Construction Real Estate Inventory Supply Chain 370

Housing Wire

SEPTEMBER 12, 2023

So, the author tried to use new construction prices from back in April to describe the whole U.S. New contracts dipped as affordability is out of reach for so many. There are 348,000 single-family homes in contract right now, with only 54,000 new contracts pending in the last week. housing market now.

Contracts 435

Contracts Inventory Housing Market Buyers 435

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. The last flag raised was that the leading economic index fell for the fifth month in a row.

Contracts 493

Contracts Construction Marketing Design 493

Housing Wire

AUGUST 23, 2022

So for now, the builders will take their time with the homes under construction and make sure they offer enough incentives to unload the new home supply they’re dealing with. percent) below the July 2021 estimate of 726,000. This time, we have less production of homes and more multifamily construction. This is 12.6 percent (±16.9

Construction 370

Construction Housing Market Sellers Real Estate 370

DataMaster

JANUARY 15, 2021

Appraising in 2021. While we have no crystal ball, we will examine 2020’s real estate and make a foray into predicting what 2021 will do. Will appraising in 2021 be better or worse than in 2020? With all of this selling going on, appraising in 2021 will stay strong! Is this rate of selling sustainable for 2021?

Appraisal 147

Appraisal Construction Business Real Estate 147

Housing Wire

JUNE 19, 2023

Adding to the issue are concerns raised by educators regarding their working conditions including pay, a lack of support, inflexibility in instruction requirements, lack of multi-year contracts and large classroom sizes according to the Florida Education Association. It closed in December 2021 due to low enrollment.

Development 370

Development Market Value Contracts Construction 370

Housing Wire

JUNE 21, 2021

You set your appointments the night before, and when you get there that morning, they might already be under contract.” Generally, they go under contract in a day or two.” Similar numbers are expected in 2021 as more workers receive the COVID-19 vaccine and supply lines speed up. It’s like a horse race.

Housing Market 459

Housing Market Marketing Realtors Inventory 459

Housing Wire

JULY 25, 2022

Homes listed for sale are increasingly seeing asking-price reductions, and both construction and home sales — both existing and new — are slowing.”. in 2021, Freddie Mac reports. trillion in 2021,” the agency’s quarterly forecast states. Freddie Mac projects that home-price growth will average 12.8% trillion in 2022 and $2.3

Housing Market 418

Housing Market Marketing Supply Chain Real Estate 418

GoForrmz

JULY 22, 2024

Originally published on 01/19/2021 Improve your construction bid templates with Automatic Calculations As the construction industry embraces the many advantages of digital solutions, it’s critical that your operation keep pace. Calculations within your digital construction forms eventually reach your data collection systems.

Construction 148

Construction Training Contracts Design 148

Housing Wire

FEBRUARY 3, 2023

The loan program can’t be extended, relocked or renegotiated until after the lender receives a fully executed sales contract and is only eligible for up to 30 days of extension. While rates have been on a declining trend after peaking in October, they are still higher than the 3% levels from 2021. About 71.2%

Loan Officers 370

Loan Officers Buyers Contracts Mortgage 370

Housing Wire

NOVEMBER 2, 2022

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($647,200 or less) decreased to 7.06% on Wednesday from last week’s 7.16%, according to the Mortgage Bankers Association. . million in September 2021. million units from 6.18

Mortgage 435

Mortgage Sellers Contracts Buyers 435

Housing Wire

DECEMBER 20, 2022

“The latest data on the housing market show that homebuilders are pulling back the pace of new construction in response to low levels of traffic, and we expect this weakness in demand will persist in 2023, as the U.S. 16 increased 0.85% from the prior week , but was down 64% compared to the same period in 2021. .

Mortgage 435

Mortgage Housing Market Retail Contracts 435

Housing Wire

DECEMBER 20, 2022

After record sales in 2021, demand for new construction waned throughout 2022 as the Federal Reserve raised interest rates cutting into home buyer’s purchase power and making financing new development projects even more costly for builders. BH: What are you expecting to see in terms of demand for new construction heading into 2023?

Supply Chain 397

Supply Chain Construction Inventory Finance 397

Simonson Real Estate

JANUARY 25, 2022

I think we can all agree that 2021 was another year of great challenge and historic change. In this article, we will share the Twin Cities apartment market data from 2021 and give insights on what to expect in 2022. Apartment New Construction. 2021 was the fifth straight year of record apartment deliveries. Rent Growth.

Marketing 131

Marketing Construction Real Estate Lending 131

Housing Wire

MAY 24, 2022

Except now, we have had massive price gains in 2020, 2021 and 2022. percent) below the 2021 estimate of 809,000. months and above, the builders will pull back on construction. The new home sales sector is much different — it’s a contract to purchase a home that isn’t built yet. This is 16.6 percent (±10.4 percent (±13.7

Housing Market 418

Housing Market Inventory Construction Marketing 418

Cleveland Appraisal Blog

MARCH 30, 2021

Within the past couple of weeks, I have appraised several properties for purchases, where my opinion of the market value of these homes was significantly below the contract price. When an appraiser’s opinion of value is below the contract price, that’s when the carping begins. There is just not much out there to buy.

Housing Market 367

Housing Market Marketing Reconsideration of Value Contracts 367

Appraisal Buzz

JUNE 20, 2022

Adoption of the Square Footage-Method for Calculating, American National Standards Institute (ANSI) Z765-2021 upended the long-standing routine and methodology for thousands of appraisers. This might include assignment conditions, contracts, leases, income and expense data, subject property descriptions, and builder’s cost information.

Appraisal 417

Appraisal Property Appraisal Modernization Real Property 417