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Builders apply the brakes amid canceled contracts

Housing Wire

However, for the first time in recent modern-day history — due to supply chain issues and other factors — housing completion data has lagged behind housing permits and starts. For this reason, the number of housing units “under construction” is the largest ever recorded in history because they were taking so long to finish.

Contracts 527
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Opinion: The “profitless boom” in residential construction

Housing Wire

The residential construction industry is facing a crisis as builders manage the critical shortage of building materials and labor. Explosive supply and labor costs are forcing long delays and leaving builders out of pocket, as the United States’ property fervor drives insatiable demand. . Be cautious when signing fixed-price contracts.

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New construction vs. resale homes: How agents can guide buyers in today’s market

Housing Wire

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.

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New home sales fall to lowest pace in a year

Housing Wire

Related supply chain issues have resulted in a big jump in the price of a new home over the past year. A new home sale occurs when a sales contract is signed or a deposit is accepted. A new home sale occurs when a sales contract is signed or a deposit is accepted. For new homes, that supply is sitting at roughly 5.1

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Keller Williams launches KW New Homes Community

Housing Wire

“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. Moreover, other items like OSB remain elevated.”. “The

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The state of the homebuilding market

Housing Wire

With continued supply chain disruption, cost increases and fear of inflation , the market has felt tenuous at best. 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.

Marketing 450
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Homebuilders growing very concerned about affordability

Housing Wire

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. Policymakers must focus on fixing the broken supply chain. Treasuries and mortgage-backed debt.