Housing Wire

OCTOBER 8, 2020

Doug Duncan doesn’t claim to be an oracle, but the Fannie Mae Senior Vice President and Chief Economist on Thursday offered some forecasts for 2021, even amid a pandemic that has thrown markets into disarray. “We think at the end of 2021, it will be roughly double that, around 6%.” At the end of 2019, we were at 3.5%

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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. percent (±14.9

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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. Index values for December published last week.

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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. “Since reaching a survey-high 927,000 units in October 2020, the annual pace of new home sales has now fallen around 20 percent, weighed down by low housing inventory and rising prices,” said Kan.

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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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Housing Wire

AUGUST 17, 2021

But there are definitely a few main things to looks out for — many of which are carrying over from a turbulent 2020 and early 2021 — when it comes to the upcoming landscape for the rest of 2021: Lack of inventory Fluctuating interest rates Increased adoption of technology. Inventory issues. All about the rates.

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Housing Wire

JULY 22, 2021

You can thank a rise in housing inventory for the gains. million in June 2020 as housing inventory has slowly improved in recent months. Total housing inventory at the end of June amounted to 1.25 from May’s inventory and down 18.8% ” Unsold housing inventory sits at a 2.6-month Sales climbed 22.9%

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Housing Wire

JULY 7, 2022

With a rapid spike in interest rates, inventory at historic lows, home prices rising at unprecedented levels above income, and a purchase market that is both highly anxious and digitally reliant, mortgage and real estate professionals must be strategic to capture the market opportunity today. Inventory rising, historically low.

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Housing Wire

DECEMBER 29, 2021

What a year 2021 has been. economy continue to recover from the lows of April of 2020, but the 2021 economic data shows it has been one of the hottest years in many decades. The housing market didn’t crash at all, in fact, more Americans bought homes with mortgages in 2021 than in 2020. A bullish housing market.

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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.

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Housing Wire

MAY 17, 2023

Industry economists attribute the uptick in housing starts and builder confidence to the low level of existing home inventory. In April, the inventory of existing homes for sale totaled just 980,000, far lower than the long-term average of about 2.3 million homes.” month over month to a pace of 1.416 million, thanks to a 9.7%

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Housing Wire

JULY 6, 2023

It boils down to two factors, according to housing-industry experts: a lack of housing inventory , or supply; and high demand for that limited housing stock — which also is fueling a jump in new-home sales. trillion in mortgage originations in 2021. In other words, if there were more inventory, we would have more sales happening.”

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Housing Wire

FEBRUARY 24, 2022

Fast forward to Thursday, and Opendoor reported losing $662 million in 2021. Opendoor’s losses came after iBuyer Offerpad announced it made $6 million in net income for 2021. Opendoor resold 21,725 of the homes it bought in 2021, up 119% from 2020. billion in unsold real estate inventory. The company tallied $8.0

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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 2021 to -12.1% in Q4 2021 to 6.8%

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Housing Wire

OCTOBER 21, 2020

Housing inventory and prices. Given the low interest rates that are driving demand, housing inventory has become a rising concern. MBA Associate Vice President of Industry Analysis Joel Kan explained that current inventory rests at just a three-month supply. In 2021, mortgage originations are expected to fall to around $2.49

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Housing Wire

DECEMBER 16, 2021

Construction of single-family homes increased 11.3% million units, while the construction of multifamily units increased 12.9% “Moreover, despite some cooling earlier this year, the continued strength of single-family construction in 2021 means there are now 28% more single-family homes under construction than a year ago. .

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Housing Wire

JUNE 2, 2022

I always try to focus people on the total inventory data until we get inventory back into a range of 1.52-1.93 HousingWire: To add to that, since housing is in an inventory shortage, the market has changed, so the good news is inventory is growing. What levels should we be hoping for? Then this happened.

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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.

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Housing Wire

MARCH 2, 2022

So-called iBuyers purchased a total of 70,402 homes in 2021, more than doubling the number purchased in 2019, according to a report from Zillow released on Tuesday. set during the first quarter of 2021. For all the transacting iBuyer’s did in 2021, only one was profitable: Offerpad, which posted $6.5 million in net income.

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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.

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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.

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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.

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Housing Wire

JANUARY 26, 2021

Record low inventory and strong buyer demand once again pushed up the cost of homes in the U.S., “With buyer demand continuing to outpace the previous year’s levels amid historically lowest inventory of for-sale homes, the pressure on home prices is going to fuel home price growth in the first half of 2021,” Happ said.

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Housing Wire

OCTOBER 19, 2022

As someone concerned about the housing inflation story since inventory channels broke to all-time lows in 2020, I am frustrated by this housing completion data. All housing inventory data points to the second factor. percent) above the September 2021 rate of 1,233,000. percent)* below the September 2021 rate of 1,559,000.

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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

JANUARY 8, 2021

Due to massive losses in the servicing sector outnumbering professional and construction job gains, the raw number of nonfarm payroll employment fell by 140,000 – the first decline since April of last year. million Americans are still unemployed heading in to 2021. The department estimates 10.7 percent and 61.5

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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% Overall, an estimated 1,595,100 housing units were started in 2021, a 15.6% 2021 was a strong year for construction.”. to 524,000 units.

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Housing Wire

APRIL 25, 2023

The faster sales pace meant the inventory of unsold new homes continued to fall, dropping from 436,000 in February to 432,000 in March. While still lower than new home sales a year ago, this bump in new inventory is important for keeping the market on a healthy and sustainable trajectory, especially during this spring home shopping season.

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Housing Wire

FEBRUARY 4, 2021

With inventory at record lows, demand surging and prices on the rise, buying — even just finding — a home in today’s market is quite the challenge. If buying a home is on your radar for 2021, there are still ways to do it. Are you hoping to buy a home in 2021’s hot housing market ? Will we have a buyer’s housing market in 2021?

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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. 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.

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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.

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Housing Wire

JANUARY 10, 2022

2021 was an extraordinary year for the housing market: mortgage rates at an all-time low, record high annual growth in single-family prices and rents, lowest foreclosure rates in a generation and the largest number of home sales in 15 years. In addition, more for-sale inventory will likely be available on the market.

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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. Listings jumped at both the state and city levels in 2021 and 2022. In this environment of high rates and tight inventory, brokerages have had to become sharp elbowed.

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Housing Wire

APRIL 15, 2021

Builder confidence has not risen above 84 so far in 2021, after reaching 90 in November and falling to 86 in December. However, the component measuring sales expectations in the next six months fell two points to 81, as many homebuyers are expecting rising mortgage rates and low inventory to sting. The Midwest also fell from 78 to 75.

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Housing Wire

SEPTEMBER 27, 2023

Fueling this increase is new construction, according to Divounguy, even though the 1.3% A steady flow of new homes have hit the market this spring and summer, as homebuilders worked diligently to remedy the housing inventory shortage. This year, Miami has claimed the fifth spot, jumping all the way from ninth as recently as May 2021.

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Housing Wire

MAY 20, 2024

Newly built homes have taken up an outsized portion of inventory since the pandemic for two main reasons, according to Redfin. home construction at the onset of the pandemic. We have a fair amount of new-construction homes for sale, and thank goodness we do,” Nicole Dege, a Redfin Premier agent in Orlando, said in the report.

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Housing Wire

MARCH 22, 2021

Homebuyers who offer all-cash improve their chances of winning a bidding war by 290%, per Redfin’s study of clients buying homes between June 2020 and February 2021. And don’t even think about making an offer below asking price in 2021, officials said. You won’t win the bidding war.

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