Housing Wire

JANUARY 17, 2024

New home construction exploded early in the pandemic as soaring home demand squeezed existing inventory nationwide, giving homebuilders a much bigger share of a shrinking pie. Index values for most construction inputs are down from 2022 but remain above pre-pandemic levels. Index values for December published last week.

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Appraisal Buzz

JUNE 18, 2024

Despite the construction boom that happened shortly after pandemic restrictions began being lifted—that has since slowed—the U.S. The pandemic-era housing frenzy sparked a construction boom, but thus far, that boom has fallen short. The post A Closer Look at the Housing Market’s Inventory Deficits first appeared on The MortgagePoint.

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Housing Wire

JULY 19, 2024

“A national secondary market for construction financing could allow lenders, like state housing finance agencies and banks, to provide the investment capital needed to get multifamily housing projects built and keys in families’ hands.” This could make the overall cost to entry — which is already low — more digestible.

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Appraisal Buzz

MAY 25, 2021

With the demand for homes at an all-time high, new construction has been dampened by a drop in the number of workers. The post Decline in Construction Workforce Stunts Housing Inventory appeared first on theMReport.com. The post Decline in Construction Workforce Stunts Housing Inventory appeared first on Appraisal Buzz.

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Housing Wire

SEPTEMBER 26, 2023

Homebuilders are still benefiting from very low inventory of existing homes for sale, which has driven more buyers to consider new construction,” Bright MLS Chief Economist Lisa Sturtevant said. However, mortgage applications for new home purchases increased 4% between July and August, the strongest pace of sales in three months.

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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 The builders will pull back on construction when the supply is 6.5

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Housing Wire

JANUARY 12, 2023

However, the story of 2023 may be very different than what any of us expect due to the oncoming avalanche of inventory we may see and its implications. You have probably heard that low housing inventory got us into this mess. Increased inventory from short-term-rental gone wrong , aka the Airbnb bust.

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Housing Wire

JANUARY 3, 2024

Housing experts expect that a boost in apartment inventory in 2024 will dampen rent growth. About 900,000 units are currently under construction , and 440,000 new units are expected to be completed in 2024, according to the report. Construction completions have already peaked in Chicago, Washington, D.C. and Las Vegas.

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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

MAY 17, 2023

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 million homes.” month over month to a pace of 1.416 million, thanks to a 9.7%

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Housing Wire

DECEMBER 3, 2021

The construction sector added a total of 31,000 jobs in November, on par with the two prior months. Specialty contractors showed the largest gains with an increase of 13,000 jobs, while persons employed in construction of buildings, and civil and heavy engineering rose by 10,000 and 8,000 jobs, respectively. While this is a 0.4%

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Housing Wire

MAY 23, 2023

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. However, experts note that the existing home inventory trough won’t last forever. In April, the sales pace of new homes rose 4.1%

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Housing Wire

FEBRUARY 23, 2024

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 We need to think creatively, from innovative construction methods to office-to-residential conversions.

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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

APRIL 16, 2021

Suburban multifamily housing construction is also benefitting from this trend.” ” For now, Duncan said, the supply of existing homes for sale and an elevated level of new homes sold — but not yet constructed — should help bolster a strong construction pace of new housing starts moving into the spring buying season.

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Housing Wire

JULY 7, 2022

With a rapid spike in interest rates, inventory at historic lows, home prices rising at unprecedented levels above income, and a purchase market that is both highly anxious and digitally reliant, mortgage and real estate professionals must be strategic to capture the market opportunity today. Inventory rising, historically low.

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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. While home prices have started to inch down, more inventory is needed for a balanced housing market, the Federal Reserve Beige Book said.

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Appraisal Buzz

JULY 12, 2024

housing inventory so tight right now, how can vacant properties play a role? Brian Cullen: Vacant properties hold the potential to provide significant relief to today’s inventory challenge. Many of these properties can be repaired and listed for sale, resulting in increased inventory, and relieving some of the current pricing pressure.

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Housing Wire

MAY 10, 2022

The relative pressure of supply vs. demand in the housing market is gauged by the level of active inventory. Like dropping barometric pressure, plunging inventory usually foretells stormy conditions: Faster price growth and faster sales. The post When will housing inventory recover? appeared first on HousingWire.

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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. “We

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Housing Wire

OCTOBER 18, 2023

However, permits for future construction recorded a 4.4% “Slower construction activity in the Northeast could reflect cooler demand as well as challenges builders face in finding availability lots,” she said. Could multifamily construction stall? Department of Housing and Urban Development and U.S. They were 23.3%

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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. For housing, March gained 110,000 jobs in construction – a positive sign in an industry struggling with supply constraints. Labor Department.

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Housing Wire

MAY 26, 2022

It’s an excellent time to discuss housing inventory. How can housing inventory be so low today when it skyrocketed back in 2009? As you can see below, the inventory keeps falling from 2014 levels, and even with the weakness in demand this year, we are nowhere close to 2013 levels, let alone 2018 levels. What is going on here?

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Housing Wire

AUGUST 18, 2020

New home construction continues to climb, as privately owned single-family housing starts in July were at a seasonally adjusted annual rate of 1.496 million, a 22.6% Homebuilders have supported sales by drawing down existing inventories of homes previously started. The post New home construction shoots up 22.6% Census Bureau.

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Housing Wire

APRIL 11, 2022

Given the current housing inventory crisis, it might surprise people to realize this: we built too many homes during the housing bubble years. Yes, but this is where my work is much different from other housing economists and why we need to think of inventory in a new, modern 21st-century mindset. Wait, what?

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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

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.

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Housing Wire

NOVEMBER 29, 2023

Home construction New home construction ramped up early in the pandemic but moderated as interest rates ticked up and mortgage rates followed. The seasonally adjusted annual rates of homes permitted, started, under construction and completed all remain well above pre-pandemic levels but below the peaks reached in the last three years.

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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

AUGUST 1, 2023

Zillow Group ‘s new-construction listings will be automatically syndicated to Redfin. The deal between the listing platforms comes as new construction listings form roughly 30% of the housing sales market. “The partnership with Redfin extends this unique and valuable resource to a wider audience.

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Eyes on Housing

JUNE 27, 2024

Total (new and existing) home inventory is an important measure for gauging and forecasting home prices and home construction impacts. The intuition is clear: more inventory yields weaker or declining home price growth and home building activity. Lean inventory levels lead to price growth and gains for home building.

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Housing Wire

JANUARY 19, 2024

Despite a documented preference that older Americans have to age in place, the current housing inventory is inadequate to support the needs of an aging population. This is according to a report from MarketWatch in collaboration with Columbia University ’s Age Boom Academy.

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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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Appraisal Buzz

JUNE 19, 2024

The report shows that the inventory problem began during the pandemic – when detached homeowners were generally trying to stay isolated in their homes and many renters/multifamily owners were purchasing whatever detached homes were available. Mortgage rates were low and homes were generally more affordable, so inventory plummeted.

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Housing Wire

MARCH 29, 2022

Given the current housing inventory crisis, it might surprise people to realize this: we built too many homes during the housing bubble years. Yes, but this is where my work is much different from other housing economists and why we need to think of inventory in a new, modern 21st-century mindset. Wait, what?

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Housing Wire

MARCH 17, 2022

Census Bureau released their construction report for February, showing a positive trend in housing construction data with a lovely print in housing permits at 1,859,000 and housing starts at 1,769,000. So far, housing construction has done well during 2020-2022 considering the economic drama. Today, the U.S.

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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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