Housing Wire

FEBRUARY 13, 2024

Despite high mortgage rates , master planned communities (MPCs) did well in 2023. According to a survey released Tuesday by John Burns Research & Consulting , the top 50 MPCs sold more than 34,600 new homes in 2023, up 24% from the nearly 28,000 sales in 2022.

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Appraisal Buzz

NOVEMBER 22, 2024

The bi-annual report reveals a resilient luxury real estate market in the first six months of 2024 that is slightly outpacing performance from the equivalent period in 2023. Those trends include buyers’ pursuit of “forever dream homes” which, according to agents, offer adaptability to grow and change alongside homeowners’ evolving lifestyles.

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Housing Wire

FEBRUARY 24, 2023

New home sales started off 2023 on a positive note, rising 7.2% 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. Census Bureau and the Department of Housing and Urban Development (HUD) on Friday.

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Construction Contracts Buyers Development 459

Housing Wire

AUGUST 15, 2023

With strong demand and limited options for existing homes, many homebuyers are turning to new construction. Mortgage applications for new construction home purchases increased 35.5% According to MBA estimates, new single-family home sales were running at a seasonally adjusted annual rate of 677,000 units in July 2023.

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Construction Mortgage Inventory Buyers 370

Housing Wire

NOVEMBER 29, 2023

Cutting prices is one of several mechanisms homebuilders have employed to keep buyers interested since rates began skyrocketing. Home construction New home construction ramped up early in the pandemic but moderated as interest rates ticked up and mortgage rates followed. for the third quarter of 2023.

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Construction Finance Inventory Development 448

Housing Wire

NOVEMBER 10, 2022

With mortgage rates hovering around 7% and home prices still at record highs, buyers across America are calling off the house hunt and finding multifamily apartments. . Some of his would-be buyers are renting apartments until mortgage rates markedly improve. It could be a while. Department of Housing and Urban Development.

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Construction Supply Chain Buyers Development 482

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. Additionally, the 2023 National Movers Study conducted by United Van Lines ranked Alabama No. New construction is backed up,” she said. Clearly, Piccinini isn’t the only one who thinks so.

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Construction Supply Chain Inventory Agents 434

Housing Wire

MARCH 4, 2024

In many respects, 2023 was the year of the homebuilder. The persistent scarcity of existing homes drove buyers toward newly built properties, allowing builders to maintain double-digit margins. New construction accounted for approximately 30% of active for-sale housing inventory, doubling the usual figures for a standard year.

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Construction Inventory Sellers Buyers 436

Appraisal Buzz

JUNE 14, 2024

There have only been two months in the last decade with fewer home sales: October 2023, when mortgage rates reached a 23-year high, and May 2020, when the pandemic brought the housing market to a halt and home sales to an all-time low. from the previous year, the highest yearly gain since the beginning of 2023. Home sales dipped 1.7%

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Housing Wire

JULY 6, 2023

Real estate markets also speak to resilient conditions, as buyers have accepted mortgage rates in the new normal of 6% – 7% range and kept a steady pace of sales over the past few months. The number of homes for sale has been growing, and properties are sitting longer on the market, giving buyers more options and time to decide.

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Mortgage Construction Inventory Investors 397

Eyes on Housing

OCTOBER 15, 2024

In 2023, 64.8% recorded in 2022, according to data tabulated from the Census Bureau’s Survey of Construction (SOC). of all new single-family homes started were built within a community or homeowner’s association. This share increased from the 62.6%

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Housing Wire

NOVEMBER 19, 2024

percent)* below the October 2023 rate of 1,365,000. percent below the October 2023 rate of 1,534,000. According to the data, we know that builders have the potential to boost sales by offering lower rates to attract buyers. I wrote an article back in 2021 when many believed a massive construction boom would last for a decade.

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Construction Mortgage Development Buyers 506

Housing Wire

JANUARY 23, 2024

For what felt like a moment in time, buyers enjoyed the luxury of being incredibly picky, carefully selecting what felt like their dream homes in a market that had shifted towards more favorable conditions. The changing tides Previously, buyers were able to look for over a month, as average days on market continued to climb.

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Real Estate Agent Real Estate Buyers Agents 476

Housing Wire

OCTOBER 18, 2022

The NAHB/ HMI report is based on a monthly survey of NAHB members, in which respondents are asked to rate both current market conditions for the sale of new homes and expected conditions for the next six months, as well as traffic of prospective buyers of new homes. Both of these metrics are survey-record lows.

Housing Market 435

Housing Market Buyers Contracts Construction 435

Housing Wire

SEPTEMBER 27, 2023

The top three opportunities mortgage pros see are new construction (15.3%), first-time homebuyers (14.5%) and cultivating referrals and building new relationships with buyers, builders and agents (13%), according to HousingWire ‘s Q4 2023 LenderPulse survey. Roughly 47.4% are pessimistic and 14.1% are optimistic.

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Housing Market Mortgage Marketing Inventory 448

Housing Wire

FEBRUARY 29, 2024

This is according to an analysis conducted by Point2 , which examined metrics including single-family and multifamily completions in 2023, as well as corresponding permits issued. Bureau of Labor Statistics from 2013 to 2023. The findings are based on historic data from the U.S. Census Bureau and the U.S.

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Inventory Supply Chain Construction Buyers 468

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?

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Supply Chain Construction Inventory Finance 397

Eyes on Housing

OCTOBER 3, 2024

In 2023, a quarter of new homes were built with a two-story foyer, down slightly from 26% in 2022, according to data obtained from the Census Bureau’s Survey of Construction (SOC) and tabulated by NAHB. The market share of two-story foyers has been generally trending downward over the past seven years, with most new single-family.

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Housing Wire

FEBRUARY 5, 2024

An estimated 668,000 new homes were sold in 2023, 4.2% In the fourth quarter of 2023, almost 32% of U.S. 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. Only 71% viewed this as a problem in 2023.

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Construction Housing Market Buyers Sellers 468

Housing Wire

DECEMBER 20, 2022

Economists believe that if the trend continues, the market will be able to improve in the second half of 2023. . “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.

Mortgage 435

Mortgage Housing Market Retail Contracts 435

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. Census reports that in September 2024, sales of newly constructed single-family houses increased 6.3% Overall construction has slowed. a year ago.

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Construction Inventory Real Estate Agent Agents 370

Housing Wire

JANUARY 3, 2024

About 900,000 units are currently under construction , and 440,000 new units are expected to be completed in 2024, according to the report. Construction completions have already peaked in Chicago, Washington, D.C. For investors, single-family rentals have emerged as a better hedge against slowing rents than apartments in 2023.

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Inventory Construction Property Management Real Estate 481

Housing Wire

MARCH 1, 2024

Sales from 2022 to 2023 were down 14%,” Mark Fischer, the CEO of the Indiana Realtors Association , said. “We In mid-June 2023, the statewide 90-day average Altos Market Action Index score hit a high for year of 53.99, before sliding down to a trough of 40.03 Both buyers and sellers are coming back to the market,” Fischer said.

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Housing Market Marketing Inventory Construction 468

Appraisal Buzz

OCTOBER 18, 2024

Department of Housing & Urban Development (HUD) have announced new residential construction statistics for September 2024. below the September 2023 rate of 1,363,000. below the September 2023 rate of 1,363,000. below the September 2023 rate of 1,515,000. above September 2023’s rate of 1,466,000.

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Construction Housing Market Inventory Home Value 418

Appraisal Buzz

JULY 1, 2024

High interest rates and housing prices have priced millions of potential buyers out of the housing market, while the number of renters with cost burdens is at an all-time high, according to a new study released by Harvard University’s Joint Center for Housing Studies. Annual home sales were at nearly a 30-year low, dropping 19% in 2023.

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Construction Inventory Property Taxes Insurance 415

Appraisal Buzz

JULY 30, 2024

Surge in Home Flips In 2023, New Western operated across 42 markets, where there were 185,272 new builds compared to 163,894 home flips. The report notes that vacant or uninhabitable homes that have been flipped contribute new inventory comparable to new construction. Boston investors sold flips at 7.8%

Real Estate 397

Real Estate Investors Renovations Construction 397

Housing Wire

AUGUST 15, 2023

Rising mortgage rates and high construction costs stemming from a dearth of construction workers, a lack of buildable lots and ongoing shortages of distribution transformers put a chill on builder sentiment in August,” said Alicia Huey, NAHB Chairman and a homebuilder from Birmingham, Alabama.

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Construction Inventory Housing Market Government 370

Appraisal Buzz

OCTOBER 30, 2024

Jones explained that pending home sales, also known as contract signings, measure the first official stage of a home sale transaction—when a buyer and seller have reached an agreement on terms and price. from September 2023 to 65.6, from September 2023 to 64.0, compared to September 2023. from the previous month.

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Contracts Buyers Inventory Mortgage 418

Housing Wire

AUGUST 8, 2024

rise in total value compared to June 2023 and 120% higher than in June 2014. New construction has contributed heavily to the year-over-year rise, with the total number of homes increasing by about 800,000. That’s according to a new report from Redfin , which shows that housing has added $3.1 That’s a 6.6% all crossed the mark.

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Home Value Housing Market Construction Buyers 456

Appraisal Buzz

SEPTEMBER 5, 2024

in 2023, an annual national home price growth of 4.7% The panelists also shared that they think speeding up construction permitting processes, increasing density around transit corridors, and allowing more “missing middle’-type housing are the local and state policy reforms likeliest to increase housing production. million homes.

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Construction Inventory Housing Market Contracts 459

Housing Wire

MARCH 6, 2024

Should mortgage rates fall, demand for residential real estate would increase, encouraging buyers who had been waiting on the sideline to move forward with home purchases,” according to the Beige Book. The benchmark rate was last changed in July 2023, when it was raised to a range of 5.25% to 5.5%.

Mortgage 446

Mortgage Real Estate Inventory Construction 446

Housing Wire

APRIL 5, 2024

The number of first-time homebuyers made up 32% of all buyers in 2023, according to a report released by the National Association of Realtors. Millennials comprised 75% of this demographic, with older millennials and Generation X (ages 44 to 58) accounting for 44% and 24% of first-time buyers.

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Housing Market Marketing Training New Listings 479

Housing Wire

APRIL 16, 2024

Mortgage applications for new homes stalled in March as buyers felt the brunt of sustained home price growth. from March 2023, according to the Mortgage Bankers Association ’s (MBA) Builder Application Survey. New construction of single-family homes receded in March, and multifamily housing starts also declined. share, and U.S.

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Buyers Construction Mortgage 457

Appraisal Buzz

NOVEMBER 20, 2024

compared with September 2023, according to the Mortgage Bankers Association (MBA) Builder Application Survey (BAS). 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,” Kan says.

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Construction Buyers Inventory Mortgage 195

Housing Wire

MARCH 27, 2024

Its listings in 2023 fell below its 2019 level, although the drop was less steep than that experienced outside of Florida and far less steep than other metros like San Diego. In 2023, not only is Watson Realty’s lead gone, but the company has fallen to 3rd place in listings. Competition heats up In 2019, Watson Realty Corp.

Brokerage 475

Brokerage Realty Real Estate Inventory 475

Housing Wire

SEPTEMBER 26, 2023

“Homebuilders are still benefiting from very low inventory of existing homes for sale, which has driven more buyers to consider new construction,” Bright MLS Chief Economist Lisa Sturtevant said.

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Inventory Buyers Construction Sellers 511

Housing Wire

NOVEMBER 27, 2023

One of the urban myths spouted by people needing more experience tracking housing data was that millions of homes would hit the marketplace in 2023 because the builders had so many homes under construction. months , the builders will pause construction. For some context, this data line is never that big. On to the report.

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Construction Buyers Mortgage Inventory 482