Appraisal Buzz

NOVEMBER 14, 2024

Report Highlights: National Housing Survey 2024 Due to sharp rises in property prices and mortgage interest rates, a much larger percentage of consumers now feel it is difficult to locate affordable housing than when we originally posed the topic in 2017.

Construction 359

Construction Development Local Properties Government 359

Housing Wire

OCTOBER 15, 2024

With high prices and still stiff competition, those looking to buy a home in today’s real estate market need to consider every opportunity, including the choice between new construction or a resale home. Census Bureau, the median sale price of a new construction home in March 2024 was $430,700.

Construction 402

Construction Buyers Agents Marketing 402

Housing Wire

JULY 22, 2024

Department of Housing and Urban Development (HUD) on Monday announced a new $175 million notice of funding opportunity (NOFO) under its Continuum of Care (CoC) program, which will go toward the development of new rental housing units with “supportive services for people experiencing homelessness ,” the department explained.

Construction 340

Construction Renovations Design Development 340

Housing Wire

DECEMBER 23, 2024

This situation poses a risk to construction labor in 2025. Is 2025 the first year we start losing residential construction jobs? Earlier this year, mortgage rates were trending at 7.50%; during that time, we received one negative monthly residential construction labor report. This issue extends beyond just housing. percent (18.6

Construction 457

Construction Inventory Mortgage Development 457

Appraisal Buzz

DECEMBER 17, 2024

The most recent Commercial Delinquency Report from the Mortgage Bankers Association (MBA) shows that commercial mortgage delinquencies rose in the third quarter of 2024. percentage points from the second quarter of 2024; Life company portfolios (60 or more days delinquent): 0.46%, an increase of 0.03

Mortgage 398

Mortgage Investors Real Estate Development 398

Housing Wire

FEBRUARY 13, 2024

Walker said the prospect of lower mortgage rates is prompting many agents to feel more positive about the 2024 housing market. 9, 2024, Alabama had a 90-day rolling average of 11,894 active single-family listings, according to data from Altos Research. New construction is backed up,” she said. As of Feb.

Construction 351

Construction Supply Chain Inventory Agents 351

Housing Wire

JANUARY 9, 2024

In the ongoing struggle for attainable housing, one positive development has been the increased availability of funding options for homeowners seeking to incorporate Accessory Dwelling Units (ADUs) into their properties. Draw structures for loans supporting new construction of ADUs, especially for prefab, are still “clunky.”

Finance 435

Finance Construction Tenants Renovations 435

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. This development is crucial for agents, as it brings not just relief to tenants nationwide but also might create more movement as renters are looking for better deals.

Marketing 429

Marketing Real Estate Construction Agents 429

Housing Wire

FEBRUARY 5, 2024

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. In 2024, 52% expect it to remain an obstacle. About 58% expect this to remain an issue in 2024.

Construction 383

Construction Housing Market Buyers Sellers 383

Appraisal Buzz

SEPTEMBER 5, 2024

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Construction 461

Construction Inventory Housing Market Contracts 461

Eyes on Housing

MAY 10, 2024

High interest rates and construction costs are the most serious impediments for new multifamily development according to the Q1 2024 NAHB Multifamily Market Survey (MMS).

Development 148

Development Construction Marketing 148

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. A large portion of the new development on the market has been purchased by homebuyers. Overall construction has slowed. a year ago.

Construction 370

Construction Inventory Real Estate Agent Agents 370

Appraisal Buzz

OCTOBER 18, 2024

Department of Housing & Urban Development (HUD) have announced new residential construction statistics for September 2024. below the revised August 2024 rate of 1,470,000, and 5.7% below the revised August 2024 rate of 1,028,000. Census Bureau and the U.S. below the revised August estimate of 1,361,000, 0.7%

Construction 419

Construction Housing Market Inventory Home Value 419

Housing Wire

JULY 19, 2024

year over year in June 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.

Inventory 383

Inventory Construction Mortgage Development 383

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. Single-family building activity drove November residential construction activity. Single-family building activity drove November residential construction activity.

Construction 385

Construction Mortgage Development Buyers 385

Appraisal Buzz

JUNE 21, 2024

According to the Fannie Mae Economic and Strategic Research (ESR) Group’s June 2024 analysis , affordability restrictions continue to limit the amount of buyers wanting and able to make home purchases, despite an increase in for-sale home listings. million in 2024, marking a moderate 1.3% annual rise vs the previously projected 2.8%.

Inventory 398

Inventory Construction Finance Development 398

Housing Wire

FEBRUARY 26, 2024

When some people say millions of new homes are about to hit the market because we have so many homes under construction, this means they don’t read or understand the new home sales report. Census Bureau and the Department of Housing and Urban Development. months , the builders will pause construction. percent (±19.9

Construction 521

Construction Business Contracts Marketing 521

Housing Wire

JANUARY 18, 2024

This is an encouraging development for the housing market and in particular first-time homebuyers who are sensitive to changes in housing affordability. Housing starts declined 9% in 2023, an indication that homebuyers looking to purchase a new construction home may continue to struggle with the lack of inventory this year.

Mortgage 530

Mortgage Inventory Retail Construction 530

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. Census Bureau and the Department of Housing and Urban Development. Then mortgage rates fell from 7.5% percent (±14.7

Construction 422

Construction Property Taxes Inventory Mortgage 422

Housing Wire

AUGUST 13, 2024

Construction of accessory dwelling units (ADUs) is taking off, but is it bringing down housing costs? A new report from John Burns Real Estate Consulting casts doubt on it, citing uneven geographic distribution of deregulations and the high cost of construction. As a result, the most impactful ADUs are in new construction.

Construction 349

Construction Real Estate Development Marketing 349

Housing Wire

JULY 23, 2024

HousingWire Lead Analyst Logan Mohtashami recently wrote that higher mortgage rates “have increased recession risk by targeting the one sector that always falls before every recession: residential construction workers. Department of Housing and Urban Development (HUD) showed that housing starts shrank 4.4% in 2024 and to 6.4%

Mortgage 499

Mortgage Real Estate Agent Finance Buyers 499

Housing Wire

NOVEMBER 25, 2020

million until we reached the years 2020-2024. Only then would we see enough demand from the new home sales market to warrant that much construction. Census Bureau and the Department of Housing and Urban Development. months, then the market has issues, and builders will likely stall on construction. year over year and 20.6%

Housing Market 538

Housing Market Inventory Construction Marketing 538

Housing Wire

SEPTEMBER 18, 2024

Department of Housing and Urban Development (HUD). Slowdowns in new single-family construction over the summer reflected sagging builder confidence, but homebuilders appear to be more confident as mortgage rates have fallen over the past few weeks and as the Federal Reserve gets set to cut interest rates. Census Bureau and the U.S.

Marketing 402

Marketing Construction Development Housing Market 402

Housing Wire

AUGUST 16, 2023

In certain parts of the Phoenix AMA that do not have a designated water provider, builders and developers need a certificate of AWS to obtain a building permit. Kamps added that he anticipates the prices of the 80,000 lots that already have AWS will also increase if developers chose to sell them, since there currently is a finite supply.

Construction 292

Construction Agents Real Estate Agent Development 292

Appraisal Buzz

NOVEMBER 26, 2024

On Tuesday, December 3, Williston Financial Group (WFG) will host its fourth and final 2024 quarterly installment of the company’s “ Quarterly Economic Outlook ” webinar, featuring WFG Chairman and Founder Patrick F. Regulatory Developments: Key updates on policy changes and new regulations affecting industry compliance and operations.

Real Estate 367

Real Estate Insurance Tenants Construction 367

Housing Wire

AUGUST 16, 2024

Department of Housing and Urban Development (HUD). “The large inventory of new homes is suppressing building at this point, but with mortgage rates dropping and likely to fall more, we should see a pick up in construction later this year,” Robert Frick, a corporate economist at Navy Federal Credit Union , said in a statement.

Construction 361

Construction Inventory Development Marketing 361

Housing Wire

MAY 20, 2024

during the first quarter of 2024 remained steady compared to last year, fueled by a continued shortage of existing-home supply. 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.

Construction 403

Construction Inventory Buyers Sellers 403

Housing Wire

MARCH 5, 2024

They include the reallocation of funds originally earmarked for relief from the economic impacts of the COVID-19 pandemic for affordable housing construction, as well as new provisions for the 2021 American Rescue Plan (ARP) Emergency Rental Assistance (ERA) program to clarify the use of such funds for affordable housing.

Insurance 420

Insurance Construction Government Design 420

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. Census Bureau and the Department of Housing and Urban Development. percent (±14.6

Construction 418

Construction Inventory Mortgage Marketing 418

Housing Wire

MAY 16, 2024

A key conclusion is that while new construction creates additional supply for first-time and move-up buyers alike, it comes with an additional expense. While many metro areas currently offer an advantage where you can purchase a new construction home for a similar price or even less than the average area home, there is still a 23.8%

Construction 366

Construction Law Finance Realtors 366

Housing Wire

OCTOBER 25, 2024

Davis also highlights Deephaven’s edge in products like their Ground-Up Construction and Fix-and-Flip products, offering originators essential tools and training. HW : We’re seeing an uptick in ground-up construction. TD: There will be an uptick throughout the rest of 2024 and into 2025 due to a deficit of 5-7 million homes.

Investors 379

Investors Construction Training Realtors 379

Housing Wire

JULY 17, 2024

Despite a 3% monthly increase , the pace of new housing construction was 4.4% slower in June 2024 than a year prior, according to data released Wednesday by the U.S. Department of Housing and Urban Development (HUD). A slowdown in apartment construction is not surprising. Census Bureau and the U.S.

Construction 361

Construction Property Management Development Housing Market 361

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). Looking ahead, buyers who have been sidelined in 2023 may enter the market in 2024 if conditions improve, and lower rates will bring increased affordability to buyers.”

Construction 399

Construction Real Estate Housing Market Buyers 399

Housing Wire

AUGUST 16, 2024

The team has a particularly large footprint in sales of new developments, having sold 1,500 newly constructed condominiums. They exclusively represent developments such as Natiivo Austin, Vesper, Parkside at Mueller, HOM, Axiom, Eastgate and Cascade. The brokerage has been extremely aggressive in adding to its head count.

Real Estate 331

Real Estate Clients Brokerage Development 331

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. The future production of housing units at risk I am bringing this up because economic recessions tend to see residential construction workers lose their jobs first.

Marketing 395

Marketing Construction Mortgage Housing Market 395

Housing Wire

FEBRUARY 9, 2024

“The market saw a brief reprieve in lot availability as starts slowed, but the fourth quarter data captures the return of tightening as builders step up construction activity,” Zonda chief economist Ali Wolf said in a statement. “75% 75% of builders intend to start more homes in 2024 compared to 2023, and those starts require lots.

Development 360

Development Inventory Construction Real Estate 360

Housing Wire

NOVEMBER 16, 2023

On the construction side, homebuilders as well as land developers found it hard to finance projects because of high short-term interest rates. However, the rate of housing inflation is steadily falling and there are high hopes that interest rates will fall in 2024. In particular, the 10-year Treasury rate moved back to the 4.5%

Inventory 392

Inventory Construction Housing Market Finance 392