Housing Wire

JANUARY 25, 2024

economy because single-family permits grew in 2023. The new home sales sector employs construction workers and stimulates the purchase of goods and services to build those homes: everything from windows to garage doors, flooring and more. In 2023, residential constructions workers weren’t laid off like in previous economic cycles.

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Construction Housing Market Inventory Marketing 513

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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Construction Development Business Marketing 397

Housing Wire

DECEMBER 5, 2023

In the third quarter of 2023, single-family and multifamily home construction grew in outlying areas instead of urban centers. Released quarterly, the HBGI gauges housing construction growth in various regions using county-level information about single- and multifamily building permits. in Q3 2023 from a year ago.

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Construction Marketing Housing Market 458

Eyes on Housing

SEPTEMBER 16, 2024

The average length of time to complete construction of a multifamily building after obtaining authorization was 19.9 months in 2023, according to the 2023 Survey of Construction (SOC) from the Census Bureau. months in 2023, after an increase of 2.3 The permit-to-completion time inched up 0.1

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Construction 103

Housing Wire

APRIL 26, 2024

Department of Agriculture (USDA) have settled on new energy-efficiency standards for the construction of new single-family and multifamily homes. The “Adoption of Energy Efficiency Standards for New Construction of HUD- and USDA-Financed Housing” was published on Friday in the Federal Register, and will go into effect on May 28.

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Construction Law Development Finance 494

Eyes on Housing

AUGUST 6, 2024

Almost all new single-family homes that started construction in 2023 used either an air/ground source heat pump or a forced air system (without heat pump) for the primary heating system (98% in 2023), according to the Census’s Survey of Construction.

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Construction 88

Housing Wire

SEPTEMBER 5, 2023

Single-family home building slowed across the country during the second quarter of 2023, thanks to higher mortgage rates , and labor and supply shortages , according to the National Association of Home Builder’s (NAHB) Home Building Geography Index. at the end of 2019 to 12% earlier in 2023. in Q2 2023. in micro counties.

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Construction Marketing Development Mortgage 418

Housing Wire

JANUARY 18, 2024

New construction starts fell to a seasonally adjusted annual rate of 1.460 million units, down 4.3% Overall, an estimated 1.413 million units were started in 2023, a drop of 9.0% Despite the overall drop in 2023, the rate at which building permits were issued in December was up 1.9% Census Bureau and the U.S. compared to 2022.

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Construction Real Estate Housing Market Buyers 473

Sacramento Appraisal Blog

SEPTEMBER 19, 2023

And speaking of building, new construction has been glowing this year. UPCOMING (PUBLIC) SPEAKING GIGS: 9/26/23 Orangevale […] The post Pent-up demand & glowing new construction first appeared on Sacramento Appraisal Blog | Real Estate Appraiser. Let’s talk about it.

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Construction Real Estate Sellers Buyers 402

Housing Wire

FEBRUARY 1, 2023

Michigan-based lender United Wholesale Mortgage (UWM) has introduced a construction-to-permanent loan that covers the cost of building a home and then converts to a permanent mortgage once construction is complete. The loan will cover an 11-month maximum build period with a one-month modification.

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Construction Real Estate Agent Loan Officers Inspection 418

Housing Wire

AUGUST 1, 2023

Zillow Group ‘s new-construction listings will be automatically syndicated to Redfin. The deal between the listing platforms comes as new construction listings form roughly 30% of the housing sales market. Zillow, the country’s top real estate listing platform, recorded a $22 million net loss in the first quarter of 2023.

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Construction Advertising Real Estate Real Estate Agent 366

Housing Wire

OCTOBER 18, 2023

However, permits for future construction recorded a 4.4% It showed the biggest drop in confidence since January 2023. “Slower construction activity in the Northeast could reflect cooler demand as well as challenges builders face in finding availability lots,” she said. Could multifamily construction stall?

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Construction Development Inventory Mortgage 466

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 438

Construction Finance Inventory Development 438

Housing Wire

SEPTEMBER 14, 2023

Demand for newly constructed homes continues to remain high as existing for-sale inventory remains historically low. Compared to July 2023, applications increased by 4%. According to MBA estimates, new single-family home sales were running at a seasonally adjusted annual rate of 702,000 units in August 2023.

Construction 404

Construction Mortgage Inventory Marketing 404

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

FEBRUARY 28, 2024

Like many localities across the country, Marin County leaders describe a housing crisis in their area that they hope to alleviate through the construction of more ADUs. Last year, the state of California approved an updated housing plan for the county that included a goal of producing 280 ADUs from 2023 to 2031.

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Construction Finance Mortgage Housing Market 440

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

FEBRUARY 23, 2024

In December 2023, a startling rumor started to spread on social media — that large institutional buyers had purchased 44% of the available homes on the market in 2023, leaving policymakers concerned with the potentially predatory grip of these entities. HousingWire lead analyst Logan Mohtashami immediately debunked the claim.

Buyers 438

Buyers Investors Real Estate Insurance 438

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%

Construction 179

Construction Buyers 179

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.

Buyers 477

Buyers Design Construction Marketing 477

Housing Wire

JANUARY 19, 2024

Existing home sales dropped to their lowest level in nearly 30 years in 2023, according to a report from the National Association of Realtors (NAR), released Friday. In 2023, 4.09 If there had been more listings on the market in 2023, we would have had more home sales.” million existing homes were sold, the fewest since 1995.

Inventory 467

Inventory Realtors Housing Market Construction 467

Housing Wire

NOVEMBER 10, 2022

I would anticipate multifamily housing starts are probably going to be down 40% year over year in 2023 and I think that is going to be the same for single family home building, if not higher. Construction lending has sort of slowed to a crawl,” Peter DiCorpo, the co-founder and COO of Black Farm Group , said.

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Construction Supply Chain Buyers Development 475

Housing Wire

JULY 19, 2023

The lack of existing homes for sale on the market is driving a resurgence of home-price growth and supporting increases in new home construction, according to Fannie Mae ’s Economic & Strategic Research (ESR) group. Fannie Mae forecasts home-price growth for 2023 and 2024 will be positive 3.9% and negative 0.7% and negative 2.2%

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Construction Inventory Housing Market Marketing 283

Eyes on Housing

DECEMBER 25, 2023

With the end of 2023 approaching, NAHB’s Eye on Housing is reviewing the posts that attracted the most readers over the last year. Two such posts focused on home prices and construction costs.

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Construction 166

Eyes on Housing

FEBRUARY 16, 2024

Despite weakness for single-family construction in 2023, townhouse construction recorded the best quarter for starts in more than 17 years.

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Construction Design 210

Housing Wire

JANUARY 12, 2023

This article is part of our 2022 – 2023 Housing Market Update series. After the series wraps, join us on February 6 for the HW+ Virtual 2023 Housing Market Update. planting us firmly in the first days of 2023 where higher rates and prices threaten to completely paralyze the housing market.

Inventory 530

Inventory Investors Construction Housing Market 530

Housing Wire

MARCH 4, 2024

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

Construction 401

Construction Inventory Sellers Buyers 401

Appraisal Buzz

JUNE 17, 2024

According to Freddie Mac’s 2023 Green MBS Impact Report , the company issued $1.85 billion of Single-Family Green Mortgage-Backed Securities (MBS) for the 2023 calendar year. Freddie Mac’s 2023 Green MBS issuance increased by more than 35% over 2022, even as overall MBS market volume declined.

Mortgage 195

Mortgage Construction Design Finance 195

Eyes on Housing

AUGUST 28, 2024

The average completion time of a single-family house in 2023 was approximately 10.1 months for authorization to start construction and another 8.6 months to finish construction. According to the Census Bureau’s Survey of Construction, the permit-to-completion time has been on an upward trend since 2015.

Construction 175

Construction 175

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.

Construction 425

Construction Supply Chain Inventory Agents 425

Housing Wire

JUNE 26, 2023

This has led Fannie Mae to revise its 2023 single-family originations forecast to $1.59 This lack of inventory has also resulted in the return of home price growth in recent months and has boosted new home construction, Fannie Mae ‘s Economic and Strategic Research (ESR) Group said Monday. trillion, down from $1.65 trillion.

Inventory 369

Inventory Construction New Listings Housing Market 369

Housing Wire

JANUARY 5, 2023

So where does all that drama leave us for 2023? My 2023 price forecast: As long as rates stay above 5.875% , my affordability index will see the pressure on home prices continue. For 2023, assuming rates stay above 5.875%, we should see a 5.9%-7.4% million in 2023. Buckle up as we look at each factor individually.

Housing Market 543

Housing Market Marketing Inventory New Listings 543

Housing Wire

APRIL 24, 2023

“The economic slowdown has resumed – whether the end result is a modest recession or simply a soft landing remains unanswered – although we continue to expect the former, as we have since April of last year, when we first made our 2023 recession call,” Doug Duncan , senior vice president and chief economist at Fannie Mae, said. decline.

Construction 394

Construction Inventory Lending Mortgage 394

Eyes on Housing

MAY 23, 2024

The missing middle construction sector includes development of medium-density housing, such as townhouses, duplexes and other small multifamily properties. For the first quarter of 2023, there were just 43,000 2- to 4-unit housing unit construction starts. This is.

Construction 148

Construction Development 148

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.

Construction 158

Construction Marketing Buyers 158

Housing Wire

JANUARY 18, 2024

Mortgage rates continued their descent this week to mark their lowest level since May 2023, welcome news for homebuyers who have been waiting on the sidelines for rates to drop. The 30-year fixed-rate mortgage averaged 6.6% 11, a decrease from last week’s 6.66%, according to Freddie Mac ‘s Primary Mortgage Market Survey released on Thursday.

Mortgage 532

Mortgage Inventory Retail Construction 532

Eyes on Housing

FEBRUARY 23, 2024

The missing middle construction sector includes development of medium-density housing, such as townhouses, duplexes and other small multifamily properties. For the fourth quarter of 2023, there were just 4,000 2- to 4-unit housing unit construction starts. This is flat from a year prior. Read More ›

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Construction Development 158