Housing Wire

JANUARY 13, 2023

Our upcoming State of the Residential Construction Industry (SORCI) Report will reflect how builders have braced for impact: Despite the rate of new contracts slowing, margins didn’t decrease. of builders showed profitability with $1 million plus contracts on average. Homebuilding Contract Values.

Marketing 493

Marketing Contracts Supply Chain Project Management 493

Housing Wire

JANUARY 26, 2024

For comparison, the index is benchmarked at a reading of 100 based on 2001 contract activity. New home sales , another measure of contract signings, rose 8% in December on the back of declining mortgage rates. The Northeast was the only region to see a decline in contract signings, with a drop of 3% month over month and 3.9%

Contracts 482

Contracts Housing Market Construction Inventory 482

Housing Wire

MAY 18, 2022

Census Bureau released their new residential construction report for April, showing a miss on the estimate and a negative revisions data line, which I believe is lagging behind the current market reality. Housing starts came in at 1.724 million , and housing permits came in at 1.819 million — both are still very healthy numbers.

Mortgage 493

Mortgage Construction Contracts Housing Market 493

Housing Wire

JANUARY 3, 2023

“Pending home sales recorded the second-lowest monthly reading in 20 years as interest rates , which climbed at one of the fastest paces on record this year, drastically cut into the number of contract signings to buy a home,” Lawrence Yun, NAR’s chief economist, said in a statement.

Contracts 511

Contracts Housing Market Realtors Construction 511

Appraisal Buzz

OCTOBER 30, 2024

increase in the Pending Home Sales Index (PHSI), a measure of future home sales based on contract signings, to 75.8, The amount of contract activity in 2001 is represented by an index of 100. Year-over-year, contract signings grew in the Northeast and West and were unchanged in the Midwest and South. September saw a 7.4%

Contracts 418

Contracts Buyers Inventory Mortgage 418

Housing Wire

SEPTEMBER 18, 2024

In contract, single-family housing starts were up 15.8% 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. monthly and 6.2%

Marketing 488

Marketing Construction Development Housing Market 488

Housing Wire

OCTOBER 26, 2022

The builders will pull back on construction when the supply is 6.5 When rates rose back in March, there was a considerable risk to the business model with many homes under construction. months of supply is still under construction 2.1 months of homes haven’t even started construction. When supply is 4.4

Construction 488

Construction Inventory Contracts Buyers 488

Housing Wire

MARCH 17, 2021

New home applications are down as well, as builders are still suffering from missing construction crews and the skyrocketing price of lumber and building materials. Rates have jumped north of 3% , with most recent reports showing it hovering around 3.5%. Home prices in general are staying high , as well.

Mortgage 435

Mortgage Contracts Construction Marketing 435

Housing Wire

JUNE 23, 2021

If the fed were to tighten policy, Fannie Mae’s ESR Group expects this to drag on upcoming housing market growth and even stifle home sales, house prices, construction and mortgage originations. inflation jumped from 1.68% in February all the way up above 5% by June, per last week’s PMMS report from Freddie Mac.

Mortgage 454

Mortgage Contracts Construction Government 454

Appraisal Buzz

NOVEMBER 10, 2021

focuses solely on the financing of new construction homes for PulteGroup homebuyers. Pulte Mortgage, a wholly owned financial services subsidiary of PulteGroup Inc.,

Contracts 195

Contracts Mortgage Construction Finance 195

Housing Wire

OCTOBER 18, 2021

Zillow will keep trying to sell existing home inventory, plus renovate and try to resell homes it has purchased under contract, according to a company press release. Pausing new contracts will enable us to focus on sellers already under contract with us and our current home inventory.”. construction workers.

Renovations 397

Renovations Real Estate Construction Contracts 397

Housing Wire

MAY 28, 2024

Every state in the country has more homes on the market now than a year ago and, in many places, new construction is being completed and added to inventory, so it’s not just resale inventory that’s growing. There were 72,000 new listings unsold and another 18,000 listings that are already under contract (i.e., immediate sales).

Inventory 534

Inventory New Listings Contracts Sellers 534

Housing Wire

JUNE 23, 2021

A new home sale occurs when a sales contract is signed or a deposit is accepted. The home can be in any stage of construction: not yet started, under construction or completed. Supply-side challenges remained a persistent issue, with the count of new homes sold that had not started construction, up 76% over the last year.

Supply Chain 476

Supply Chain Construction Buyers Development 476

Housing Wire

FEBRUARY 26, 2024

It’s not the safest business model either because builders take a contract to buy a home and then, from start to finish, hope that mortgage rates don’t jump on the buyer by the time the home is ready. months , the builders will pause construction. Why so low? Well, builders are in business to make money, they’re not a charity.

Construction 532

Construction Business Contracts Marketing 532

Housing Wire

OCTOBER 22, 2024

New pending sales are also on the rise, with the 60,000 homes going under contract last week representing a 9% increase from the same week last year and an 11% increase from the same week in 2022. ” Last week, following the release of construction data for September from the U.S.

Sellers 468

Sellers Mortgage Marketing Construction 468

Housing Wire

DECEMBER 4, 2020

However, Nothaft expects that mortgages originated today, with a contract rate of 3% or lower, are more likely to have a relatively long life and lenders will not see them coming into refinance anytime soon. Especially when contract interest rates for refis are below 3%. On average, CoreLogic predicts mortgage rates to sit closer to 3.2%

Mortgage 518

Mortgage Contracts Construction Inventory 518

Housing Wire

JANUARY 3, 2024

Department of Housing and Urban Development (HUD) program designed to allow for the construction of rental housing units is getting a new participant: the Cherokee Nation. They are one of the first tribes to be approved for the program, according to the announcement. The program’s initial roll-out will take place in Ochelata, Okla.

Human Resources 448

Human Resources Construction Law Contracts 448

Housing Wire

JULY 28, 2021

“Sales continued to trend lower in June as some builders slow sales contracts to manage supply-chains, amidst longer delivery times and higher construction costs,” said NAHB Chairman Chuck Fowke. While lumber prices have shown some improvement in spot markets, these declines take time to translate into lower construction costs.

Supply Chain 418

Supply Chain Training Construction Development 418

Housing Wire

JUNE 17, 2021

However, construction is still facing headwinds given permits for new developments by homebuilders dropped 3%, largely because lumber and building material costs kept prices high. In that data, new home sales are recorded at contract signing, which typically occurs with the mortgage application. Censes Bureau releases each month.

Inventory 511

Inventory Construction Contracts Mortgage 511

Appraisal Buzz

SEPTEMBER 5, 2024

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. from the same period last year. Notably, total inventory is up 28.7%

Construction 459

Construction Inventory Housing Market Contracts 459

Housing Wire

JANUARY 19, 2023

“Housing starts fell again in December, but there are hopeful signs that builders will see a boost in buyer traffic in the coming months and new housing construction may have bottomed,” Lisa Sturtevant, BrightMLS’ chief economist, said in a statement. Builders watched inventories rise as buyers canceled contracts and new orders dried up.

Inventory 418

Inventory Construction Development Housing Market 418

Housing Wire

MARCH 23, 2021

A new home sale occurs when a sales contract is signed or a deposit is accepted. The home can be in any stage of construction: not yet started, under construction or completed. The seasonally adjusted estimate of new houses for sale at the end of February was 312,000. This represents a supply of 4.8

Construction 532

Construction Buyers Development Contracts 532

Eyes on Housing

NOVEMBER 17, 2022

Elevated mortgage rates, high construction costs for concrete and other building materials, and weakening demand stemming from deteriorating affordability conditions continue to act as a drag on single-family housing production. Overall housing starts decreased 4.2% to a seasonally adjusted annual rate of 1.43

Contracts 187

Contracts Construction Development Mortgage 187

Eyes on Housing

MAY 31, 2021

Builders and developers responding to NAHB’s Survey on Acquisition, Development & Construction (AD&C) Financing continued to report declining interest rates in the first quarter of 2021.

Development 165

Development Construction Contracts Finance 165

Housing Wire

FEBRUARY 16, 2023

In an odd twist of fate, the delays due to COVID-19 are currently an infrastructure and jobs program for Americans in the construction industry. As you can see below, housing completions are slowly moving along; the homebuilders have more new homes under construction that they haven’t even started yet than active new homes for sale.

Construction 526

Construction Housing Market Inventory Mortgage 526

Housing Wire

MARCH 21, 2024

Adding his leadership skills will be beneficial at a time when Planet is looking to differentiate itself with various purchase loan products, one-time-close construction loans and other niche programs, the company stated. By contract, the country’s top 50 lenders as a whole saw volumes fall by more than 50% during the same period.

Lending 446

Lending Retail Contracts Construction 446

Housing Wire

DECEMBER 1, 2022

“Higher interest rates further dented home sales, which declined at a moderate pace overall but fell steeply in some Districts,” the report states, noting that “residential construction slid further at a modest pace” and “home prices grew less rapidly or declined outright amid weak demand.”. Existing home sales fell steeply in most markets.

Housing Market 370

Housing Market Marketing Construction Inventory 370

Housing Wire

DECEMBER 19, 2022

With construction costs up more than 30% since inflation began to take off at the beginning of the year, there is little room for builders to cut prices,” NAHB chairman Jerry Konter said in a statement. Looking ahead, Dietz recommended that builders plan one year or more out when thinking about land and construction timelines.

Contracts 448

Contracts Construction Buyers Real Estate 448

Housing Wire

JULY 13, 2024

Here are the price-cut percentages for last week over the previous few years: 2024: 38% 2023: 33% 2022: 33% Pending sales Below is the Altos Research weekly pending contract data year-over-year to show real-time demand. These are live weekly contracts, compared to the purchase application data, which looks out to 30-90 days.

Mortgage 514

Mortgage New Listings Inventory Contracts 514

Housing Wire

APRIL 30, 2021

More than a quarter of single-family homes for sale during the first quarter were new-construction homes — nearly 26%, and March housing starts jumped nearly 20% month over month to the highest level since 2006, per the latest report from Redfin. Existing home sales were 9% higher than a year ago with just two months supply to choose from.

Buyers 476

Buyers Construction Inventory Housing Market 476

Housing Wire

OCTOBER 26, 2023

Despite the slight gain, pending contracts remain at historically low levels due to the highest mortgage rates in 20 years,” Lawrence Yun, NAR chief economist said in a statement. For those new construction units, the national median new home price is projected to drop by 5.9% in 2023, reaching an annual rate of 670,000.

Inventory 435

Inventory Contracts Housing Market Realtors 435

Housing Wire

SEPTEMBER 7, 2023

She expects a market contraction this fall in the housing sector. In many markets, renting has become more affordable than owning The balance between renting and owning in many markets has shifted toward renting as more new apartment construction comes online, noted Sturtevant.

Housing Market 476

Housing Market Mortgage Marketing Contracts 476

Housing Wire

MARCH 29, 2023

Month-over-month, contract signings increased in three U.S. Overall, contract signings were down 21.1% After nearly a year, the housing sector’s contraction is coming to an end,” he said in a statement Wednesday. from the prior month, though in-contract deals were still down 17% from February 2022. from February 2022.

Contracts 321

Contracts Realtors Home Value Housing Market 321

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. Housing markets continued to weaken, with sales and construction declining across [all 12 Federal Reserve] districts,” according to the Federal Reserve Beige Book released on Wednesday.

Inventory 448

Inventory Housing Market Marketing Construction 448

Housing Wire

MAY 19, 2022

It sees the second quarter of growth rebounding to 1.6%, despite the economy contracting 1.4% Fannie expects a slowdown in homesales for the second and third quarters of 2022, followed by a softening in construction activity and a large deceleration in home price growth. percentage points lower than its previous forecast.

Contracts 448

Contracts Mortgage Construction Development 448

Housing Wire

OCTOBER 18, 2021

As housing inventory remains low and buyers are continuing to face strong competition with one-third of homes going under contract within a week , many are becoming discouraged and have started looking for alternative options. This will spur more construction and help ease upward pressure on home prices.”.

Supply Chain 537

Supply Chain Inventory Buyers Housing Market 537

Housing Wire

JUNE 29, 2023

An index of 100 is equal to the level of contract activity in 2001. Despite sluggish pending contract signings, the housing market is resilient with approximately three offers for each listing,” Lawrence Yun , the chief economist of NAR, said in a statement. annual drop recorded in April.

Contracts 370

Contracts Inventory Housing Market Realtors 370