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Realtor.com has revealed its Top HousingMarkets for 2025 , highlighting the areas ready for growth in the year ahead. Among the top 10 metros, eight have seen year-over-year growth in single-family home construction, with builders increasingly focusing on more affordable and smaller homes to meet demand. Miami leads with 42.7%
The bulk of the job gains in December occurred in the care (+46,000 jobs), government (+33,000 jobs), retail trade (+43,000 jobs), and social assistance (+23,000 jobs) sectors. The construction sector showed little month-over-month change, adding just 8,000 jobs.
Federal government employment declined. economy can withstand job losses in the government sector, reduced spending in the economy, and a housingmarket on the brink of losing residential construction projects. It’s important to distinguish between federal workers and state and local government job hiring.
Although October’s job gains were modest, strong gains still occurred in the health care (+52,000 jobs) and government (+40,000) sectors. Construction was another sector that posted gains in October, adding 8,000 jobs. Residential construction gained 1,300 jobs in October, while residential specialty trade contractors shed 6,600 jobs.
” Residential construction workers are at risk of facing job losses for the first time in this recovery yet the Fed often takes a hawkish stance in its statements at key points, which tends to drive mortgage rates higher. It’s not falling.” However, we know that this is unlikely to happen.
These off-market listings not only harm sellers, but they limit exposure to potential buyers, possibly deepening inequities that have long existed in real estate. We must maintain transparency in the housingmarket so we dont go back to the dark ages of real estate.
A bullish housingmarket. economic recovery was a false story and that we were about to embark on a second housing bubble crash due to forbearance. The housingmarket didn’t crash at all, in fact, more Americans bought homes with mortgages in 2021 than in 2020. What a year 2021 has been. The excellent.
HousingMarket Supply and Demand: An analysis of housing inventory trends and construction pressures affecting pricing and availability. HousingMarket Supply and Demand: An analysis of housing inventory trends and construction pressures affecting pricing and availability.
The number of housing units that came online in September showed a big year-over-year jump, but data on earlier stages of construction suggest not much is coming through the pipeline. That’s according to monthly data on new residential construction from the U.S. But housing completions rose 14.6% month over month.
Our nations builders are willing to meet buyers where they are and construct a high-quality home to meet their familys needs. Home Builders Adapt to HousingMarket Conditions Due in part to concerns about housing affordability, home builders are building smaller homes. Census Bureau data.
As much of the nation continues to reckon with critical shortages to housing inventory that exacerbate affordability woes, housing advocates in California are seeking to exempt homebuilding projects in urban areas from being subjected to a key climate law that critics say has slowed construction. The law was signed by then-Gov.
The majority of Novembers job gains occurred in health care (+54,000 jobs), leisure and hospitality (+53,000 jobs), government (+33,000 jobs), and social assistance (+19,000 jobs), while retail trade lost 28,000 jobs. The construction sector posted modest jobs gains in November, gaining a total of 10,000 jobs from the month prior.
housingmarket. And according to Freddie Mac ‘s Primary Mortgage Market Survey, the average rate inched closer to 7% this week. Fannie Mae, however, remains optimistic that housingmarket activity will pick up as existing home sales and new single-family housing starts are expected to grow modestly in 2024.
New Hampshire s hot housingmarket has spiraled the Granite State into crisis mode. But as the states population has grown, its housing supply which was already beginning to tighten more than a decade ago has failed to keep pace. It is encouraging to see some uptick in apartment construction in some of our larger communities.
The construction sector, meanwhile, had only a slight gain, according to the U.S. But employment showed little change over the month in other major industries, including construction, retail trade, financial activities, government and other services. Job growth in the U.S. jobs report , released Friday. in June 2021.
David Meyer is thankful that his business is still plugging along during the wildest housingmarket in decades. With mortgage rates hovering around 7% and home prices still at record highs, buyers across America are calling off the house hunt and finding multifamily apartments. . Department of Housing and Urban Development.
A significant issue is what happens to government workers this year: how many are laid off or receive buyouts ? The situation will be challenging in 2025, especially since a critical growth driver in 2024 was government jobs, while manufacturing jobs were lost during the same year.
This hybrid summit brings together leaders from the federal government, private sector, and housing industry to discuss the critical role of independent mortgage banks in the housing finance ecosystem. Census Bureau Advance Monthly Retail Sales (Thursday) Freddie Mac Primary Mortgage Market Survey (Thursday) U.S.
A private planning firm in California is launching a new tool to help local governments there prepare for a pending law designed to spur more construction of accessory dwelling units (ADUs). Local governments are uniquely positioned to help residents through the daunting process of building an ADU.
With low housing inventory and rapid home-price growth, homeownership can seem less and less attainable for several groups of potential homebuyers. HousingWire sat down with Radian CEO Rick Thornberry to learn more about the state of the housingmarket and how Radian is helping further homeownership.
Walker said the prospect of lower mortgage rates is prompting many agents to feel more positive about the 2024 housingmarket. In Birmingham, ERA King Real Estate agent Anna-Maria Ellison said that even without lower mortgage rates, she is seeing buyers return to the market. New construction is backed up,” she said.
The industry, he says, refers to this principle as “ the housing theory of everything.“ Unaffordable housing spills into every other aspect of life that affects working-class people and forces them to move to lower-quality areas. Next, Furth dives deeper into the primary issues facing the housingmarket.
Senate and House of Representatives have reintroduced a bill designed to address housing issues by rehabilitating or constructing millions of additional units in an effort to bring down costs for renters and homeowners. A coalition of Democratic lawmakers in the U.S.
While Fannie Mae expects sales to soften somewhat later in the year, the new housingmarket appears more upbeat than it was at the start of the year. government on its debt obligations. Housing remains exhibit number one for why we expect the recession to be modest. New home sales jumped 9.6%
Shes urging House Speaker Mike Johnson to take up the bill, which would require the Government Accountability Office (GAO) to conduct a study to assess wildfire and insurance threats and responses. What can we do to prevent what we can with construction? What can we do with the materials that are used? Waters said.
Most of the job gains in September occurred in food services and drinking places (+69,000 jobs), health care (+45,000 jobs), government (+31,000 jobs), social assistance (+27,000 jobs), and construction (+25,000 jobs). Over the past 12 months the construction sector has averaged a gain of 19,000 jobs per month.
Job gains in June were most notable in industries like government (70,000), health care (49,000), social assistance (34,000) and construction (27,000), a positive for the housing industry. Overall, for the past year, the construction sector has added an average of 20,000 jobs per month. in June, with 6.8
housingmarket was the single best outperforming economic sector globally during the COVID-19 pandemic in 2020. Due to the solid demand for homes, housing supply for both new and existing homes are at all-time lows. For now, though, the low inventory means housing starts have legs to move higher. New Home Supply.
Stowell currently sits on the Board of Directors at Toll Brothers, Pacific Mutual Holding Company, and HomeAid America, a non-profit organization whose mission is to help people experiencing or at risk of homelessness build new lives through construction, community engagement, and education. housingmarket.”
. “Supply chain constraints are holding back a housingmarket that should otherwise be picking up speed, given the strong demand for buying fueled by an improving job market and low mortgage rates,” Fratantoni said.
Fear of this outcome is why, for the better part of the past 12 years, ATR safe-harbor determinations were, in large part, simply punted to the black box underwriting systems of the government-sponsored enterprises Fannie Mae and Freddie Mac. The post The mortgage industry should build ATR rule governance appeared first on HousingWire.
Housing inflation post-2020 was one for the record books, not only because home prices accelerated in such a short time, but more importantly for the inflation data, rents took off, something that didn’t happen during the housing bubble years. The government accounts for housing inflation by looking at rents, not home prices.
increase from the revised December rate of 651,000, it falls slightly below market expectations. The uptick in new-home sales underscores the persistent strength of demand in the housingmarket despite the challenges posed by winter weather. New homes constitute slightly more than 30% of the total active inventory in the market.
Exemptions would be provided to new construction and units with “substantial” renovation and rehabilitation. While the odds are stacked against this proposal ever passing Congress, a federal rent control law would be catastrophic to renters and our nation’s rental housingmarket.” Government watchdog Accountable.US
labor market in the past few months, something I talked about on a recent HousingWire Daily podcast. This is very important to the housingmarket because what the real estate market needs to grow sales is lower mortgage rates. Fed policy disproportionately impacts the housingmarket more than other sectors of our economy.
2%, and the Conventional MCAI that measures loans not backed by the government fell.3%. The Government MCAI that includes mortgages backed by the Federal Housing Administration , the Veterans Administration and the U.S. 7% while the Jumbo MCAI measuring high-balance loans rose.2%, Department of Agriculture rose.3%, 3%, MBA said.
years in prison — the maximum the federal government said it would seek — as well as three years of supervised release. As the housingmarket changes, so does lending fraud. Housingmarket conditions are changing in ways that may increase fraud risk and fraud schemes are becoming increasingly sophisticated.
According to Fannie, the slimming in projections by the Economic and Strategic Research (ESR) Group are a result of supply chain disruptions and labor market tightness, which “impede the housingmarket.”. Overall, the government sponsored enterprise forecasts that purchase mortgage originations will increase by 6.3%
Government-sponsored enterprise Fannie Mae announced on Thursday the appointment of Scott D. homebuilding industry to Fannie Mae’s accomplished and diverse board, which guides the company’s efforts to responsibly expand access to mortgage credit and finance quality, affordable rental housing ,” the company said in a statement.
Despite recent data indicating a poor affordable housing situation in Texas , the city of Houston must return $45 million in unused affordable housing funds to the state after failing to use them for construction of new homes. Instead, the city failed to begin construction on the homes in a timely manner.
In October, health care, government, and social assistance posted some strong job gains. What to expect in the housingmarket ? In October, construction employment continued to trend up, adding 23,000 more jobs, aligning with the average monthly gain of 18,000 over the prior 12 months.
This article is part of our 2022 – 2023 HousingMarket Update series. After the series wraps, join us on February 6 for the HW+ Virtual 2023 HousingMarket Update. planting us firmly in the first days of 2023 where higher rates and prices threaten to completely paralyze the housingmarket.
Via Unsplash The first quarter of 2025 is already drawing to a close, but let’s take the time to review how the Portland Region’s condominium market performed in 2024. High mortgage interest rates have been a concern in all segments of the housingmarket and condominiums were no exception.
The lion’s share of the job growth in April came from gains in the professional and business services sector (up 64,000 jobs), the leisure and hospitality sector (up 48,000 jobs), the government sector (up 56,000 jobs), and the health care sector (up 52,000 jobs). Residential building construction added 2,400 jobs during the month.
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