Housing Wire

FEBRUARY 23, 2024

Department of Housing and Urban Development (HUD) on Friday announced a series of funding opportunities totaling roughly $3.86 million, which will go toward organizations aiming to boost housing inventory and availability through methods including off-site construction and office-to-residential conversions. “As

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Housing Wire

MAY 17, 2023

Department of Housing and Urban Development (HUD). Industry economists attribute the uptick in housing starts and builder confidence to the low level of existing home inventory. In April, the inventory of existing homes for sale totaled just 980,000, far lower than the long-term average of about 2.3 After falling 0.8%

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Housing Wire

NOVEMBER 4, 2021

To keep pace with current construction demand, and account for attrition, 740,000 new construction workers are needed each year for the next three years , a report by the Home Builders Institute contends. million new hires for construction. The construction worker shortage has reached crisis level.

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Housing Wire

OCTOBER 6, 2023

housing market continue to present challenges for the entire housing system: chronic inventory shortages and an alarming number of destructive natural disasters stemming from climate change. Advanced robotic construction is the most promising path forward.” Two ongoing stories that have rattled the U.S.

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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 Census Bureau and the Department of Housing and Urban Development. percent (±15.3

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Housing Wire

MAY 23, 2023

Census Bureau and the Department of Housing and Urban Development ( HUD ). Demand for newly built homes has been strong amidst the historically low inventory of existing homes for sale ,” Lisa Sturtevant, the chief economist at Bright MLS , said in a statement. In April, the sales pace of new homes rose 4.1%

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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.

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Housing Wire

JANUARY 19, 2023

Department of Housing and Urban Development. 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. Census Bureau and the U.S.

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Housing Wire

FEBRUARY 29, 2024

Fewer homes under construction and falling permits mean dwindling options for future buyers, adding more pressure to a market already strained by tight supply,” Point2 said. The total number of homes under construction fell by 9% in 2023 while the number of permits dropped 11% year over year.

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Housing Wire

FEBRUARY 13, 2024

While Alabama agents might feel good about their state’s prospects as a migratory hotspot, they must also face the repercussions of a growing population — namely increased pressure on the state’s already constrained housing inventory. Inventory was the theme last year and it is shaping up to be the theme this year,” Ellison said.

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Housing Wire

APRIL 2, 2021

Sectors that were hit hardest by the pandemic led job growth last month, with jumps in leisure, hospitality, public and private education and construction – good signs for the housing industry. Despite increased rate of tech adoption, the mortgage industry still has room for continued development and processes. Labor Department.

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Housing Wire

NOVEMBER 29, 2023

Census Bureau and the Department of Housing and Urban Development. Home construction New home construction ramped up early in the pandemic but moderated as interest rates ticked up and mortgage rates followed. The rate of homes under construction has roughly plateaued since April 2022. The figure – up 17.7%

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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.

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Housing Wire

MARCH 7, 2024

In the address, the president will call for a $10,000 tax credit for both first-time homebuyers and people who sell their starter homes; the construction and renovation of more than 2 million additional homes; and cost reductions for renters. The NHC lauded the development.

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Housing Wire

JUNE 10, 2024

metro areas that are embracing new development and “creating a more diverse and plentiful supply of homes.“ Pacaso said that these shortages have been exacerbated by various types of “municipal zoning and building ordinances [that] have historically restricted new housing construction.“ Other estimates are much higher. Washington, D.C.,

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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. In other words, if there were more inventory, we would have more sales happening.” through the first quarter of 2024.”

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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. Given the lack of existing home inventory, somewhat lower mortgage rates will price-in housing demand and likely set the stage for improved builder views of market conditions in December.”

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Housing Wire

JUNE 8, 2021

One issue is that among the low inventory, there are even fewer homes that are move-in ready, said Keith Lind, executive chairman and president of Acra Lending. “We We actually have a lower inventory of homes that people really want to live in turnkey,” Lind said.

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Housing Wire

JUNE 17, 2021

. “Since reaching a survey-high 927,000 units in October 2020, the annual pace of new home sales has now fallen around 20 percent, weighed down by low housing inventory and rising prices,” said Kan. The post New home sales fall due to low inventory and high prices appeared first on HousingWire.

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Housing Wire

NOVEMBER 10, 2022

In response, multifamily construction has skyrocketed over the last year, hitting a historic high of 841,000 units under construction nationwide in June of this year, according to research from the National Multifamily Housing Council and the National Apartment Association. Department of Housing and Urban Development.

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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

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Housing Wire

AUGUST 16, 2024

Department of Housing and Urban Development (HUD). While the increase in completed new home inventory is good news for many markets with tight housing inventory, economists say it might pose some challenges long-term, but other macroeconomic factors may keep things on track. Census Bureau and the U.S. monthly and 1.6%

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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

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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. Ground-up construction growth will be high to meet the population growth and meet the demand due to limited inventory.

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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. Builders note that additional declines in mortgage rates, to below 6%, will price-in further demand for housing.

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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.

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Housing Wire

MAY 8, 2023

A key source of affordable housing inventory was cut in half over the last three years, resulting from well-intended but heavy-handed efforts to keep delinquent borrowers in homes. That key source of affordable housing inventory: distressed properties sold to third-party buyers or repossessed by lenders at foreclosure auction.

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Housing Wire

MARCH 1, 2024

We were up year over year in inventory , but we were at a 25 year low on new listings.” From a seller’s standpoint it may make a bit more sense to sell now, so we are creating some more inventory and buyer are taking advantage of lower rates and more stable home prices.” Last year was a tough one for the Indiana real estate market.

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Housing Wire

JULY 31, 2024

Department of Housing and Urban Development (HUD) visited the University of Alaska at Fairbanks to tout the possibilities that 3D printing technology could bring to the construction of affordable housing in the U.S. A key goal for the project includes the deployment of local and sustainable resources for construction materials.

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Housing Wire

DECEMBER 16, 2021

Department of Housing and Urban Development and the U.S. Construction of single-family homes increased 11.3% million units, while the construction of multifamily units increased 12.9% ” HUD and the Census Bureau are attributing this increase in production to strong demand for new construction. .”

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Housing Wire

DECEMBER 29, 2023

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. Let’s look at the new construction forecast for 2024. million new single-family construction units in 2024.

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Housing Wire

APRIL 25, 2023

Census Bureau and the Department of Housing and Urban Development ( HUD ). The faster sales pace meant the inventory of unsold new homes continued to fall, dropping from 436,000 in February to 432,000 in March. New home sales posted yet another increase in March, rising 9.6% This represents 7.6

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Appraisal Buzz

JUNE 21, 2024

While the number of homes for sale remains low by historical standards, the months’ supply of inventory is progressively growing, which the ESR Group sees as consistent with a slowing of home price increase. The ESR Group also reduced its 2024 real GDP growth forecast to 1.6% In April, the month’s supply of new dwellings reached 9.1,

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Housing Wire

JUNE 27, 2023

Census Bureau and the Department of Housing and Urban Development. Strong new home sales have gotten the new construction industry back on track to deliver much-needed inventory for this undersupplied market. This has brought a resurgence to the new construction industry with sales rising and home builder confidence climbing.’

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Housing Wire

OCTOBER 25, 2023

Census Bureau and the Department of Housing and Urban Development ( HUD ). According to Alicia Huey, chairman of the National Association of Home Builders (NAHB), the lack of existing inventory is the reason why more homebuyers turn to new construction. On a year-over-year basis, new home sales were up 33.9%. It is down 5.4%

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Housing Wire

MARCH 6, 2024

Moderation in mortgage rates led to a pickup in demand for residential real estate, but limited inventories across the country hindered actual home sales , the Federal Reserve reported in its Beige Book survey of regional business contacts that was published Wednesday. Residential construction costs started to moderate this period.

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Housing Wire

MAY 20, 2024

Newly built homes have taken up an outsized portion of inventory since the pandemic for two main reasons, according to Redfin. 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.

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