Housing Wire

APRIL 23, 2024

New home sales have been one of the brighter housing stories since the home sales crash in 2022 — as we can see in the chart below, new home sales have been able to grow since then. This is one reason why the homebuilder stocks have done so well since November of 2022.

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Housing Wire

DECEMBER 20, 2021

With those two factors still very much in play, here is my 2022 forecast. For 2022, my range for the 10-year yield is 0.62%-1.94% , similar to 2021. The economy won’t be as hot in 2022 as it was in 2021, but it will remain in expansionary mode. For 2022, I am forecasting the same sales trend range as 2021 of about 5.74

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Housing Wire

JULY 17, 2024

Higher mortgage rates have increased recession risk by targeting the one sector that always falls before every recession: residential construction workers. Housing starts are far from the recent peak in 2022, which isn’t shocking considering our current trajectory of housing permits, as the chart below shows. percent (±12.1 This is 10.1

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Appraisal Buzz

AUGUST 9, 2024

is expected to set new records for apartment construction. By the end of 2024, developers plan to have completed an astounding 518,108 rental units, a startling 30% more than in 2022 and 9% more than in 2023. On the other hand, some markets are seeing a slowdown in new construction starts due to the economic environment.”

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Housing Wire

NOVEMBER 10, 2022

In response, multifamily construction has skyrocketed over the last year, hitting a historic high of 841,000 units under construction nationwide in June of this year, according to research from the National Multifamily Housing Council and the National Apartment Association. Department of Housing and Urban Development.

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Housing Wire

NOVEMBER 29, 2023

Home construction New home construction ramped up early in the pandemic but moderated as interest rates ticked up and mortgage rates followed. The seasonally adjusted annual rates of homes permitted, started, under construction and completed all remain well above pre-pandemic levels but below the peaks reached in the last three years.

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Appraisal Buzz

JUNE 12, 2024

year-over-year in May to $1,653, representing the highest level since October 2022, according to a new Redfin survey. Multifamily construction increased during the pandemic moving frenzy, lowering rent prices as building owners competed for renters. Asking Rents Hit Highest Level Since 2022 first appeared on The MortgagePoint.

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Appraisal Buzz

DECEMBER 17, 2024

After the number of newly completed apartments increased 13% year over year in the second quarter to the highest level since the fourth quarter of 2022, asking rents for new flats actually decreased 3.6% The post Newly Constructed Apartment Asking Rents Get Significant Bump first appeared on The MortgagePoint. Despite a 34.1%

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Housing Wire

JANUARY 25, 2024

This is one reason I raised my fifth recession red flag for Housing on June 16, 2022 as I saw that higher mortgage rates would impact new home sales and housing permits. 9, 2022, not only helped the housing market build more homes, but it also boosted the U.S. percent)* above the December 2022 estimate of 636,000. percent (±24.2

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Housing Wire

FEBRUARY 13, 2024

Between July 1, 2022, and July 1, 2023, Alabama’s population grew by 34,000 people, according to estimates published by the U.S. New construction is backed up,” she said. “No matter what you want, you can find it here,” the Enterprise, Alabama-based agent said. You can find the city, the country. We’ve got beaches. Census Bureau.

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Housing Wire

MAY 22, 2023

in March and have generally trended upward since the fall of 2022. Duncan noted the possibility of a recession in April 2022, which he predicted would start in the first quarter of 2023. New home sales jumped 9.6% Fannie Mae assumed that the ongoing debt ceiling impasse will be resolved in a manner that avoids a default by the U.S.

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Housing Wire

MARCH 14, 2023

in 2022, the eighth consecutive year of growth. Latinos added a net total of 349,000 homeowner households last year, which is one of the largest single year gains over the last decade, the National Association of Hispanic Real Estate Professionals ( NAHREP ) said in its 2022 state of Hispanic homeownership report on Tuesday.

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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. at the beginning of 2022 and 30.5% Census reports that in September 2024, sales of newly constructed single-family houses increased 6.3% in Q2 of 2022.

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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. A while back, HousingWire Editor in Chief Sarah Wheeler and I discussed the risk of recession due to a lack of construction labor. Let’s look at today’s residential construction report and see where we are. From the U.S.

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Appraisal Buzz

SEPTEMBER 27, 2024

than the second consecutive quarter in which newly constructed apartment rentals showed an annual decline, and the second-deepest decline in the previous five years. Will an Apartment Construction Boom Lead to Lower Rents? The post Asking Rents for New Builds Slip to Lowest Level Since 2022 first appeared on The MortgagePoint.

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Housing Wire

JANUARY 6, 2022

This article is part of our HousingWire 2022 forecast series. After the series wraps early next year, join us on February 8 for the HW+ Virtual 2022 Forecast Event. The supply-demand imbalance fueling the housing market shows no signs of abating in 2022, even as homebuilders attempt to bridge the gap. What about existing homes?

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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

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

DECEMBER 19, 2023

New construction rose to a seasonally adjusted annual rate of 1,560,000, according to the U.S. above the November 2022 rate of 1,427,000. Single-family building activity drove November residential construction activity. Single-family building activity drove November residential construction activity. Census Bureau data.

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Housing Wire

DECEMBER 19, 2023

9, 2022 , positively impacting new home sales. percent)* above the November 2022 rate of 1,427,000. percent above the November 2022 rate of 1,402,000. Housing permits declined, as the 5-unit construction boom ended, negatively impacting the permit data. economy into a recession. This is 14.8 percent (±14.0 percent (±14.6

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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. as of November 2022. In addition, JP Morgan Chase & Co.

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Housing Wire

MARCH 8, 2023

In 2022, 2.06 million households were formed , marking the highest level of yearly household formations in the past decade, and bringing the total number of household formations from 2012 to 2022 to 15.6 This resulted in the gap between single family home construction and household formation growing to 6.5 million households.

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Housing Wire

FEBRUARY 21, 2024

A small but growing sector Cushman & Wakefield notes build-to-rent homes have become “increasingly attractive to the investment community,” with sales of build-to-rent communities reaching $3 billion in 2022. In 2022, build-to-rent transactions totaled about $2.1 Similarly, construction has slowed but remains elevated.

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Housing Wire

FEBRUARY 24, 2023

This marks the second consecutive month of increases and the strongest sales pace since March 2022. The backlog of new construction homes continues to emerge into the market just in time for the spring shopping season,” Nicole Bachaud, Zillow ’s senior economist, said in a statement. months in December.

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Housing Wire

JANUARY 2, 2025

In late 2022, global markets faced turmoil and economic indicators suggested a weakening economy, leading the 10-year yield to drop to around 3.37% before rebounding. The existing home sales market has been in a recession since June 16, 2022 , and hasnt experienced any significant growth in sales for some time.

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Mortgage Construction Housing Market Marketing 462

Appraisal Buzz

DECEMBER 5, 2024

Its noteworthy that the recent surge in immigration occurred in 2022 and 2023, with the Congressional Budget Office estimating that immigration levels rose from an average of 990,000 in 2020 and 2021 to 2.7 million in 2022 and 3.3 Immigrants also play a crucial role in the construction industry, helping to expand housing supply.

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Housing Wire

NOVEMBER 17, 2023

This has kept construction workers employed and they have the money to spend on goods and services. One of the early indicators of a job-loss recession has failed to materialize, as construction employment has held up so far. percent)* below the October 2022 rate of 1,432,000. percent)* above the October 2022 rate of 1,348,000.

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Appraisal Buzz

DECEMBER 11, 2024

year-over-year in November to $1,595, the lowest level since March 2022. lower than when it hit an all-time high of $1,700 in August 2022. Renters in areas where construction has boomed are in a sweet spot right now. According to Redfin , the median U.S. asking rent fell 0.7% Rents were down 1.1% on a month-over-month basis.

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Construction Appraisal Marketing 386

Housing Wire

APRIL 16, 2024

In 2022, many recessionary red flags popped up. 9, 2022 , a critical recessionary data line changed as mortgage rates fell, new home sales grew, builders bought down rates and the cycle moved on. I haven’t been a Fed pivot person since 2022 — I don’t think the Fed will pivot until the labor market breaks.

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Construction Mortgage Marketing Housing Market 451

Appraisal Buzz

JUNE 25, 2024

approximately one-third (33.4%) of single-family houses listed for sale in the first quarter were recently constructed; this percentage is down from a record-high 34.5% The percentage of newly constructed homes in the market is still over twice that of pre-pandemic levels. In the U.S., months’ worth of existing homes.

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Housing Wire

MAY 20, 2024

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. Newly built homes have taken up an outsized portion of inventory since the pandemic for two main reasons, according to Redfin.

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Housing Wire

MAY 23, 2024

However, we need to keep an eye on the housing construction data in this report because it has huge implications for the economic cycle, our recession risk and mortgage rates. When single-family permit demand collapsed in 2022 , we still had a healthy backlog of homes that needed to be finished. In this report: 1.9 In this report: 1.9

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Housing Wire

APRIL 18, 2023

First, however, remember that the housing market is still in a recession, which I wrote about on June 16, 2022. percent below the March 2022 rate of 1,879,000. However, because of the COVID-19 delays, we are still working through a backlog of homes under construction. percent)* above the March 2022 rate of 1,366,000.

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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. from its October 2022 peak but is 12.5% Nationwide, the average rent price fell by -0.8%

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Appraisal Buzz

JUNE 18, 2024

Despite the construction boom that happened shortly after pandemic restrictions began being lifted—that has since slowed—the U.S. Across the country in 2022, there were roughly 8.09 The pandemic-era housing frenzy sparked a construction boom, but thus far, that boom has fallen short. In 2022, 1.4 Compare that to 3.55

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Inventory Construction Law Real Estate 448

Housing Wire

JANUARY 6, 2023

Despite several rate hikes throughout the second half of 2022, the labor market finished the year strong. million jobs in 2022, compared to 6.7 since March of 2022. The construction sector’s large increase is thanks to a sizable gain in the number of specialty trade contractors which added 16,600 jobs.

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Housing Wire

SEPTEMBER 21, 2022

Housing construction in the U.S. months of homes they have under construction or have not even started yet. Now that mortgage rates have spiked up so much, the housing construction growth we have seen in single-family construction is done. The builders will pull back on construction when the supply is 6.5

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