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.

Construction 386

Construction Appraisal Marketing 386

Housing Wire

OCTOBER 24, 2024

With new-home sales growing since 2022, why are housing starts at recessionary levels? We had no growth in residential construction work hiring earlier in the year when rates were higher. I recently raised this concern about housing construction and new home sales in an interview on CNBC. Then mortgage rates fell from 7.5%

Construction 488

Construction Property Taxes Inventory Mortgage 488

Housing Wire

JANUARY 10, 2022

This article is part of our HousingWire 2022 forecast series. After the series wraps, join us on February 8 for the HW+ Virtual 2022 Forecast Event. With more supply from new construction and existing owners relocating, new and existing home sales are expected to rise about 1% to 7 million sales, the largest number since 2006.

Housing Market 545

Housing Market Marketing Construction Inventory 545

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%

Advertising 396

Advertising Construction Marketing Appraisal 396

Housing Wire

MAY 14, 2024

As a result, some homebuilders have doubled down on the construction of built-to-rent (BTR) homes. In 2023, a record 93,000 new single-family homes for rent were completed, up 39% from 2022, according to a report by The Wall Street Journal. Meanwhile, investors are flocking to the BTR sector.

Construction 476

Construction Tenants Development Real Estate 476

Housing Wire

OCTOBER 18, 2023

below the September 2022 rate of 1,463,000. However, permits for future construction recorded a 4.4% lower than in September 2022 due to higher interest rates. lower than September 2022. from the prior month and were 1% above the September 2022 level. Could multifamily construction stall? Census Bureau data.

Construction 468

Construction Development Inventory Mortgage 468

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

Construction 507

Construction Mortgage Housing Market Marketing 507

Housing Wire

NOVEMBER 4, 2024

market share, while first-quarter 2022 saw a record high of 34.4%. Nearly 93% of homeowners with mortgages had rates below 6% in mid-2022, but that share dropped by roughly 4 percentage points at the start of the year, according to Redfin. New construction inventory has grown in recent months. Census Bureau.

Marketing 370

Marketing Inventory Construction Realtors 370

Housing Wire

OCTOBER 22, 2024

New pending sales are also on the rise, with the 60,000 homes going under contract last week representing a 9% increase from the same week last year and an 11% increase from the same week in 2022. ” Last week, following the release of construction data for September from the U.S.

Sellers 468

Sellers Mortgage Marketing Construction 468

Appraisal Buzz

FEBRUARY 26, 2025

The drop in new home sales coincides with growing builder pessimism stemming from high mortgage rates and the looming possibility of tariffs on imported construction materials that will drive up costs. The median sales price increased in January to the highest level since 2022, as more high-end homes were sold, Kushi says.

Construction 414

Construction Buyers Appraisal Mortgage 414

Housing Wire

MARCH 7, 2025

Labor over inflation has been my mantra since late 2022. economy can withstand job losses in the government sector, reduced spending in the economy, and a housing market on the brink of losing residential construction projects. This leads us back to the private sector and residential construction jobs.

Marketing 391

Marketing Mortgage Government Transportation 391

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.

Construction 482

Construction Supply Chain Buyers Development 482

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

Housing Market 544

Housing Market Inventory Mortgage Marketing 544

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.

Inventory 514

Inventory Construction Mortgage Buyers 514

Housing Wire

JANUARY 29, 2025

The Federal Reserve didnt raise or cut interest rates today, but the meeting highlighted something I have been emphasizing since 2022: the Fed is shaping its policy around the labor market more than inflation. However, the Fed only cut rates when they believed the labor market was softening in the second half of 2024. .

Marketing 383

Marketing Housing Market Construction Mortgage 383

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.

Construction 448

Construction Finance Inventory Development 448

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.”

Construction 397

Construction Development Business Marketing 397

Housing Wire

JANUARY 17, 2025

Since late 2022, our analysis indicates that mortgage rates in the 6%-6.5% range are not as low as the 3.25% to 5% rates we experienced over the past decade, that range should still facilitate the construction of more homes. I discussed this on the HousingWire Daily podcast today. While rates in the 6-6.5%

Mortgage 488

Mortgage Housing Market Construction Marketing 488

Housing Wire

APRIL 21, 2025

Sellers are feeling nervous because a lot of them bought at the top of the market in 2021 and 2022, and will now be re-buying at a higher mortgage rate. McVay said concessions have become a strategic way for sellers to meet buyers financial needs without lowering their sale price. Theyre worried about net proceeds, she said.

Sellers 430

Sellers HOA Buyers Real Estate 430

Appraisal Buzz

JANUARY 23, 2025

The good news is, 2022 saw an accelerated growth rate of 1.6% Florida, Texas, and North Carolina were three of the most popular states for relocation, and this accelerated migration has fueled construction to meet the surging housing demand. This led to an upswing in housing demand and intensified construction activity.

Inventory 418

Inventory Supply Chain Construction Housing Market 418

Housing Wire

NOVEMBER 26, 2024

The new home sales purchase application data provided by the Mortgage Bankers Association last week indicates a steady upward trend from the lows we saw in 2022. However, it’s important to understand that housing starts are currently at recession levels because mortgage rates are too high to encourage new housing construction.

Property Taxes 501

Property Taxes Inventory Construction Housing Market 501

Housing Wire

JANUARY 24, 2025

The median sales price grew to $404,400 in the 18th consecutive month of annual price increases, and the 6% year-over-year rise is the largest since October 2022. New construction has not been able to keep up with demand. Its the highest year-over-year gain since June 2021 but is still historically low. million, down 13.5%

Inventory 363

Inventory Realtors Construction Housing Market 363

Housing Wire

DECEMBER 20, 2024

The states business-friendly regulations and tax policies have led to rapid population growth in recent years, including an estimated 16,000-person inflow from 2020 to 2022 alone. It is encouraging to see some uptick in apartment construction in some of our larger communities.

Law 433

Law Construction Inventory Development 433

Appraisal Buzz

MARCH 25, 2025

The South was already dominating the share of new construction and new home sales, and this strong sales showing in February only adds to the clear focus on new homes in the South, with 64.8% The mix of inventory available for sale by stage of construction is normalizing, added Fleming. of new home sales taking place in that region.

Inventory 317

Inventory Construction Buyers Development 317

Housing Wire

NOVEMBER 22, 2024

By January 2022, they had climbed to $1,612. As demand soared, so did rental prices, which jumped from $1,289 at the start of 2021 to a peak of $1,725 by August 2022, according to data from Apartment List. of existing supply, with another 38,000 of apartment units under construction (12.2% in January to 3.9% by September.

Marketing 370

Marketing Housing Market Property Taxes Construction 370

Housing Wire

JANUARY 22, 2025

Right now, more multifamily units are hitting the market than at any time in the past 50 years, but detached homes arent seeing the same surge in construction , Zillow chief economist Skylar Olsen said in a statement. Weve also got the large millennial generation wanting to move into a larger space.

Inventory 448

Inventory Home Value Housing Market Buyers 448

Housing Wire

FEBRUARY 7, 2025

Since 2022, my guiding principle has been that the labor market is more important than inflation in determining mortgage rates. Since 2022, I have advised against discussing a potential recession until this data line reaches 323,000 on the four-week moving average and breaks through that threshold.

Marketing 450

Marketing Mortgage Government Retail 450

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.

Tenants 392

Tenants Development Construction Marketing 392

Housing Wire

APRIL 16, 2025

The median asking rent in March was $1,694, down $65 from the 2022 peak. Tariffs threaten construction, could reverse rent declines The recent imposition of tariffs on building materials particularly steel and aluminum poses a risk to continued rent price relief, especially in markets with booming multifamily development.

Construction 203

Construction Development Inventory Marketing 203

Appraisal Buzz

OCTOBER 14, 2024

Efforts to improve access to down payment assistance, credit-building programs, zoning reforms, and affordable housing construction and preservation in desirable areas are key initiatives to help this progress continue.” However, the gap remains wider compared to mid-2022 (17.2%) and mid-2007, shortly before the housing bust (16.3%).

Home Value 394

Home Value Construction Buyers Mortgage 394

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%

Construction 305

Construction Development Appraisal 305

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.

Construction 435

Construction Supply Chain Inventory Agents 435

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.

Construction 418

Construction Inventory Government Contracts 418

Appraisal Buzz

NOVEMBER 21, 2024

New homes are an attractive alternative for many buyers as existing inventory is still tight in many markets around the country and a newly constructed home provides additional customization options. The average loan size picked up to almost $410,000, the highest in the survey since August 2022.

Mortgage 370

Mortgage Buyers Contracts Construction 370

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). Following St.

Retail 355

Retail Modernization Construction Realtors 355

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.

Construction 535

Construction New Listings Inventory Finance 535

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

Construction 514

Construction Housing Market Inventory Marketing 514