Housing Wire

JULY 19, 2024

Late last month, Ginnie Mae released a term sheet for one of the most anticipated new developments for the reverse mortgage industry — a new Home Equity Conversion Mortgage (HECM)-backed Securities (HMBS) product referred to as “ HMBS 2.0.” To get a better idea of the potential impact that HMBS 2.0

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Housing Wire

NOVEMBER 29, 2023

Census Bureau and the Department of Housing and Urban Development. Home construction New home construction ramped up early in the pandemic but moderated as interest rates ticked up and mortgage rates followed. The rate of homes under construction has roughly plateaued since April 2022. The figure – up 17.7%

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Housing Wire

JUNE 10, 2024

metro areas that are embracing new development and “creating a more diverse and plentiful supply of homes.“ Pacaso said that these shortages have been exacerbated by various types of “municipal zoning and building ordinances [that] have historically restricted new housing construction.“ Other estimates are much higher. Washington, D.C.,

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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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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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Housing Wire

MAY 19, 2022

Fannie Mae’s Economic and Strategic Research (ESR) Group dropped its projected 2022 real GDP to 1.3%, 0.8 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. in the first quarter. from March and 8.6%

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Housing Wire

DECEMBER 16, 2021

Nevertheless, while we view the trends described below as the most likely path for the economy and mortgage market in 2022, this news highlights the elevated level of uncertainty we’ve all been living with the past few years. A silver lining is that we are expecting both 2022 and 2023 to be record years for purchase originations.

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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. Census Bureau and the Department of Housing and Urban Development.

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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

DECEMBER 16, 2021

Department of Housing and Urban Development and the U.S. Construction of single-family homes increased 11.3% million units, while the construction of multifamily units increased 12.9% ” HUD and the Census Bureau are attributing this increase in production to strong demand for new construction. .”

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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. Both pose threats to access to capital, the cost of materials and labor, and future housing values.

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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. Department of Housing and Urban Development and U.S. above the November 2022 rate of 1,427,000. Single-family building activity drove November residential construction activity. But permits for future construction fell 2.5%

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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% A large portion of the new development on the market has been purchased by homebuyers. in Q2 of 2022.

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Housing Wire

APRIL 27, 2022

family houses in March 2022 were at a seasonally adjusted annual rate of 763,000, according to estimates released today by the U.S. Census Bureau and the Department of Housing and Urban Development. From Census: The median sales price of new houses sold in March 2022 was $436,700. From Census: Sales of new single?family

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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. Department of Housing and Urban Development (HUD). First, a spike in homebuying demand drove the surge in U.S.

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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

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

JULY 19, 2024

As a result, homebuilders and developers are also more confident that rates will continue to decline in the next six months, causing an uptick in housing starts and permits. Meanwhile, construction labor is another issue facing the market. We’re worried about construction labor,” Mohtashami said.

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Housing Wire

FEBRUARY 24, 2023

Census Bureau and the Department of Housing and Urban Development (HUD) on Friday. This marks the second consecutive month of increases and the strongest sales pace since March 2022. Looking ahead, experts are optimistic about the spring selling season for new construction. months in December.

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Housing Wire

MARCH 1, 2022

The company says it will use the funding to scale its operations, accelerate its research and development and expand construction into new markets. Through this building process, Veev says it can build homes up to four times faster than standard construction industry standards, which in turn can bring down costs significantly.

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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

MARCH 7, 2024

Long, who brings more than 20 years of experience in the mortgage industry, will be responsible for building Planet’s retail networks and will also have a focus on product development, the company said. decline from 2022, according to Inside Mortgage Finance.

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Housing Wire

JANUARY 19, 2023

As the housing market slowed from its frenzied peak in 2022 due to soaring mortgage rates, homebuilders pulled back. An estimated of 1.533 million housing units were started in 2022, down 3.0% Department of Housing and Urban Development. While housing starts were down in 2022, housing completions posted a 3.8%

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Housing Wire

JUNE 6, 2024

A private planning firm in California is launching a new tool to help local governments there prepare for a pending law designed to spur more construction of accessory dwelling units (ADUs). Digital tools like the ADU Plans Gallery reduce the time and cost of building ADUs and accelerate housing construction.”

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Housing Wire

MAY 19, 2022

Skyrocketing mortgage rates and a slowdown in new home constructions led to a drop in home purchases in April. On an unadjusted basis, MBA estimates that there were 65,000 new home sales in April 2022, a decrease of 12.2% However, the pace of construction has slowed in recent months,” Kan added. Homebuilders constructed about 1.23

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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%

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Housing Wire

FEBRUARY 29, 2024

In places like San Francisco ; New York ; Seattle ; San Antonio ; Rochester, New York; and Kansas City, permits dropped by more than 30% from 2022 to 2023. Fewer homes under construction and falling permits mean dwindling options for future buyers, adding more pressure to a market already strained by tight supply,” Point2 said.

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Housing Wire

JANUARY 23, 2024

For Universal Studios employees, the owners of the park are seeking to construct a 1,000-unit mixed-use development slated to open in 2026 that would promise a short commute to the Universal Orlando Resort, which is also aiming to open a full-scale third theme park called “Epic Universe” next year.

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Housing Wire

NOVEMBER 17, 2023

Department of Housing and Urban Development and U.S. below the October 2022 rate of 1,432,000. Permits for future construction also jumped 1.1% above the October 2022 level. The Northeast did not perform as well as weather, supply chain issues, and difficulties getting permits hampered construction. from September.

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Housing Wire

FEBRUARY 5, 2024

more than the figure of 641,000 in 2022, according to the U.S. Department of Housing and Urban Development. single-family homes for sale were new construction, similar to the percentage from a year earlier and good for the highest level of any fourth quarter on record. An estimated 668,000 new homes were sold in 2023, 4.2%

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Construction Housing Market Buyers Sellers 468

Housing Wire

NOVEMBER 27, 2023

In March 2022 , Veev raised a $400 million Series D led by BOND , while LenX , Zeev Ventures , JLL Spark Global Ventures , and Fifth Wall also participated in the round. Veev said at the time that the funding would be used to scale its operations, accelerate its research and development, and expand construction into new markets.

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Housing Wire

JANUARY 19, 2024

For agents, staying informed about these developments is essential for strategic decision-making and client guidance in the coming year and beyond. Following a surge in rents during 2021 and early 2022, the sector experienced a notable cooling trend in rates last year, according to data by Apartment List.

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Marketing Real Estate Construction Agents 501

Housing Wire

DECEMBER 22, 2023

Census Bureau and the Department of Housing and Urban Development. percent)* above the November 2022 estimate of 582,000. Housing starts aren’t booming, primarily due to 5-unit construction slowing down. months , the builders will pause construction. This is 12.2 percent (±15.6 percent (±19.8 When supply is 4.4-6.4

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Housing Wire

FEBRUARY 6, 2024

Elevated mortgage rates and limited housing inventory fuel the ongoing demand for single-family rental units, keeping construction starts afloat in the BTR market. Since borrowing costs surged in 2022, investors have developed other ways to buy homes, including directly from builders. rental homes.

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Housing Wire

JANUARY 18, 2024

New construction starts fell to a seasonally adjusted annual rate of 1.460 million units, down 4.3% Department of Housing and Urban Development (HUD). compared to 2022. Single-family permits, a leading indicator of future starts, reached the highest level since May 2022. compared to 2022. Census Bureau and the U.S.

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Construction Real Estate Housing Market Buyers 488

Housing Wire

FEBRUARY 6, 2023

He became an interim principal financial officer in July 2022 following the death of Timothy Forrester. UWM went public in January 2022 after merging with a special purpose acquisition company (SPAC) named Gores Holdings IV. billion and injected $925 million into UWM to develop new technology and grow the broker channel.

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Housing Wire

NOVEMBER 27, 2023

Census Bureau and the Department of Housing and Urban Development ( HUD ). above the October 2022 estimate of 577,000. However, the share of new construction for sale in the third quarter was the highest ever recorded. single-family homes for sale in the third quarter were new construction, up from 28.9%

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Housing Market Construction Inventory Buyers 448