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Currently there are 695,000 single-family units under construction, which is actually 136,000 units below the peak in May 2022. And there are currently 994,000 multifamily units under construction, the highest level since 1973. Single-family construction deliveries, meanwhile, will likely be more muted.
There is another enhancement that many sellers may not consider: the addition of smart-home technology. The smart-home market is surging, with an annual global growth rate of 16% to a forecast of more than $260B in 2024 – and more than double that sum by 2030. The benefits to both current and future homeowners are innumerable.
The market is spooking many potential buyers and sellers thanks to stubbornly high mortgage interest rates. Only buyers and sellers who must move are doing so. New Construction The new home construction sector has taken much of the residential spotlight this year. of office space could be vacant by 2030, or nearly 1.5
The reshaping of corporate America’s office attendance has hardly deterred the construction boom here, thanks mostly to a still-growing tech sector (We see you, AI, cloud computing and space exploration ventures!). Forecasts suggest the city will grow to roughly 165,000 people by 2030. Bellevue has a population of about 150,000.
This trend has doubled since 2019, with built-to-rent homes making up 10% of new construction (8% in the PNW). MetLife estimate s institutional investors alone – owners of at least 10 properties – will have more than 40% of all single-family homes by 2030. housing supply increased by 1.6M The answer appears to be “yes.” bath , 7470 sq.
Yun offers a silver lining: “I expect the pace of price appreciation to slow as demand cools and as supply improves somewhat due to more home construction.”. First, even though construction is starting to catch up, we have a huge 5.8 In other words, the sluggish pace of new construction might continue to keep home prices high.
This trend has doubled since 2019, with built-to-rent homes making up 10% of new construction (8% in the PNW). MetLife estimates institutional investors alone – owners of at least 10 properties – will have more than 40% of all single-family homes by 2030. housing supply increased by 1.6M The answer appears to be “yes.” Marginal Way S.,
Needless to say, a small pool of buyers is going to make for anxious sellers. Conversely, a robust purchasing population puts sellers in the driver seat. Low unemployment, strong productivity, and affordable goods and services provide a comfort level to sellers that their homes will move at desirable prices.
Demands expertise in entitlements, construction, and lease-up. Some sponsors or sellers inflate projected rents to make the deal look more attractive. Negotiation Support : Brokers can help structure offers and facilitate discussions about seller financing or due diligence timelines. High risk, high upside.
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