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.

Construction 512

Construction Housing Market Inventory Marketing 512

Housing Wire

JANUARY 3, 2024

Housing experts expect that a boost in apartment inventory in 2024 will dampen rent growth. 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. and Las Vegas.

Inventory 443

Inventory Construction Property Management Real Estate 443

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. The median sales price of a new house sold in August 2023 was $430,300, while the average sales price was $514,000.

Inventory 503

Inventory Buyers Construction Sellers 503

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 Prospective homebuyers have been shut out of the market by a lack of inventory. Compared to a month ago, housing inventory was down 11.5%

Inventory 463

Inventory Realtors Housing Market Construction 463

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.

Inventory 441

Inventory Supply Chain Construction Buyers 441

Housing Wire

MARCH 23, 2023

If there’s one sector of the economy that benefits from the very low levels of total housing inventory , it’s the homebuilders , but for a reason you might not think. If national housing inventory were back to normal, we would have 2 to 2.5 The builders will pull back on construction when the supply is 6.5

Inventory 541

Inventory Housing Market Construction Marketing 541

Housing Wire

MAY 3, 2024

No matter where you are in the Tar Heel State, real estate professionals across North Carolina are frustrated by the lack of housing inventory. The challenge remains lack of inventory — that’s definitely the big one,” said Alison Alston , the broker-owner of Charlotte-based Lodestone Real Estate and Investments. “We being outbound.

Inventory 343

Inventory Housing Market Marketing Real Estate 343

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.

Construction 451

Construction Real Estate Housing Market Buyers 451

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?

Construction 458

Construction Development Inventory Mortgage 458

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.

Construction 355

Construction Advertising Real Estate Real Estate Agent 355

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 383

Construction Mortgage Inventory Marketing 383

Housing Wire

MAY 10, 2022

The relative pressure of supply vs. demand in the housing market is gauged by the level of active inventory. Like dropping barometric pressure, plunging inventory usually foretells stormy conditions: Faster price growth and faster sales. The post When will housing inventory recover? appeared first on HousingWire.

Inventory 417

Inventory Housing Market Construction Sellers 417

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. Inventory was the theme last year and it is shaping up to be the theme this year,” Ellison said.

Construction 407

Construction Supply Chain Inventory Agents 407

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.

Construction 370

Construction Mortgage Inventory Buyers 370

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. The extent of the ongoing lack of inventory has exceeded our prior expectation,” the ESR group said in its July commentary.

Construction 277

Construction Inventory Housing Market Marketing 277

Housing Wire

JANUARY 5, 2023

The 2022 housing market was savagely unhealthy , with all-time lows in inventory leading to massive bidding wars and price spikes until the Fed put a screeching halt to all of it with rate hikes that resulted in the most significant one-year spike in mortgage rate history. So where does all that drama leave us for 2023? Home price s.

Housing Market 539

Housing Market Marketing Inventory New Listings 539

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 421

Construction Finance Inventory Development 421

Housing Wire

JANUARY 19, 2023

High inflation has reduced consumers’ purchasing power, which has led to weakened sales and construction across all 12 Federal Reserve districts. While home prices have started to inch down, more inventory is needed for a balanced housing market, the Federal Reserve Beige Book said.

Inventory 430

Inventory Housing Market Marketing Construction 430

Housing Wire

JULY 6, 2023

It boils down to two factors, according to housing-industry experts: a lack of housing inventory , or supply; and high demand for that limited housing stock — which also is fueling a jump in new-home sales. Fannie Mae recently projected originations for 2023 at $1.59 trillion, a revision downward from its January estimate of $1.65

Inventory 485

Inventory Renovations Real Estate Government 485

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

Inventory 364

Inventory Construction New Listings Housing Market 364

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. The total supply of inventory of single-family homes is up 22% over the previous year. Overall construction has slowed. a year ago. Overall U.S.

Construction 370

Construction Inventory Real Estate Agent Agents 370

Appraisal Buzz

JUNE 19, 2024

The report shows that the inventory problem began during the pandemic – when detached homeowners were generally trying to stay isolated in their homes and many renters/multifamily owners were purchasing whatever detached homes were available. Mortgage rates were low and homes were generally more affordable, so inventory plummeted.

Inventory 195

Inventory Construction Mortgage Appraisal 195

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. However, as purchase demand continues to thaw, it will put more pressure on already depleted inventory for sale,” said Sam Khater, Freddie Mac’s chief economist.

Mortgage 532

Mortgage Inventory Retail Construction 532

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 373

Construction Inventory Sellers Buyers 373

Housing Wire

JUNE 14, 2023

Large single-family rental investors didn’t have much of an appetite in the fourth quarter of 2022 and the first quarter of 2023. This tracks, as the largest percentages of single-family home sales to institutional investors in the first quarter of 2023 included Georgia (8.4% Those are the traditional SFR hunting grounds. “It

Inventory 356

Inventory Investors Construction Real Estate 356

Housing Wire

MAY 22, 2023

Existing home sales have been largely in line with the ESR Group’s recent forecast of further gradual declines throughout the year, which were expected due to affordability constraints and tight existing home sales inventory of existing homes for sale. Fannie Mae projected total originations for 2023 to be $1.65

Construction 414

Construction Inventory Government Contracts 414

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?

Supply Chain 386

Supply Chain Construction Inventory Finance 386

Housing Wire

JULY 6, 2023

High rates combined with low inventory continue to price many potential homebuyers out of the market, added Khater. In addition, builders are recognizing the demand and the opportunity it presents, and they are pushing construction activity higher – about one-third of homes on the market are new construction, more than double normal levels.

Mortgage 395

Mortgage Construction Inventory Investors 395

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. Home price gains hit a new high , rising 0.6% Roughly 47.4% are optimistic.

Housing Market 425

Housing Market Mortgage Marketing Inventory 425

Housing Wire

DECEMBER 29, 2023

In some ways, 2023 was the year of the homebuilder. 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. The business appears durable, too. . million and 7.3

Construction 472

Construction Supply Chain Inventory Housing Market 472

Housing Wire

OCTOBER 24, 2024

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. percent)* above the September 2023 estimate of 694,000. Then mortgage rates fell from 7.5% percent (±14.7 percent (±18.6

Construction 469

Construction Property Taxes Inventory Mortgage 469

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 384

Construction Inventory Lending Mortgage 384

Housing Wire

MARCH 1, 2024

Sales from 2022 to 2023 were down 14%,” Mark Fischer, the CEO of the Indiana Realtors Association , said. “We We were up year over year in inventory , but we were at a 25 year low on new listings.” Like elsewhere in the country, Indiana has struggled with housing inventory. in mid-January 2024. as of February 29, 2024.

Housing Market 450

Housing Market Marketing Inventory Construction 450

Housing Wire

APRIL 17, 2023

As existing home inventory continues to fall, builder confidence is on the rise, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) report, released Monday. More buyers looking at new homes, along with the use of sales incentives, have supported new home sales since the start of 2023.”

Inventory 389

Inventory Loan Conditions Buyers Housing Market 389

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.

Construction 460

Construction Supply Chain Buyers Development 460

Inman

SEPTEMBER 25, 2023

The 2023 real estate market has been a bit of a conundrum for agents and brokerages. Mortgage rates are high, listing prices are elevated, and housing inventory is limited.

Inventory 197

Inventory Brokerage Construction Real Estate 197

Housing Wire

JULY 24, 2024

Will the Federal Reserve pivot in time to save construction workers? This is key because, traditionally, residential construction workers are the first to lose their jobs before every recession since higher mortgage rates hit housing first. percent)* below the June 2023 estimate of 666,000. percent (±14.6 percent (±15.2

Construction 467

Construction Inventory Mortgage Marketing 467