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. High mortgage rates and home prices quelled the surge in buyer demand, and time seems to have moderated the supply chain shocks.

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Construction Supply Chain Transportation Buyers 481

Housing Wire

OCTOBER 15, 2024

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.

Construction 467

Construction Buyers Agents Marketing 467

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 result has been worsening affordability, now exacerbated by stubbornly high mortgage rates. “The The pandemic-era housing frenzy sparked a construction boom, but thus far, that boom has fallen short.

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Inventory Construction Law Real Estate 448

Housing Wire

SEPTEMBER 26, 2023

However, mortgage applications for new home purchases increased 4% between July and August, the strongest pace of sales in three months. 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.

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Inventory Buyers Construction Sellers 508

Housing Wire

AUGUST 15, 2023

With strong demand and limited options for existing homes, many homebuyers are turning to new construction. Mortgage applications for new construction home purchases increased 35.5% in July on a year-over-year basis, according to the Mortgage Bankers Association (MBA) Builder Application Survey (BAS) data. in June.

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Construction Mortgage Inventory Buyers 370

Housing Wire

SEPTEMBER 14, 2023

Demand for newly constructed homes continues to remain high as existing for-sale inventory remains historically low. Mortgage applications for new home purchases increased 20.6% MBA’s survey tracks application volume from mortgage subsidiaries of homebuilders across the country. in August on a year-over-year basis.

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Construction Mortgage Inventory Marketing 396

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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Inventory Housing Market Construction Marketing 544

Housing Wire

JULY 13, 2024

In 2023, following the collapse of Silicon Valley Bank , the spreads between the 30-year mortgage and 10-year yield were at their worst, leading to new cycle highs. This meant mortgage rates were significantly higher than average. Mortgage spreads Last year, the 10-year yield hit 5% and mortgage rates got above 8%.

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Mortgage New Listings Inventory Contracts 512

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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Construction Finance Development Marketing 473

Housing Wire

OCTOBER 18, 2023

However, permits for future construction recorded a 4.4% To boost sales, builders have been offering different concessions such as upgrades or buying down mortgage rates. “Slower construction activity in the Northeast could reflect cooler demand as well as challenges builders face in finding availability lots,” she said.

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Construction Development Inventory Mortgage 464

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

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

MAY 11, 2024

Mortgage rates and the bond market have fallen a bit recently and the spreads between the 10-year yield and 30-year mortgage rate have improved over last year’s levels. In the past two years, demand has always picked up whenever mortgage rates have moved lower with some duration. That’s a 0.50% difference in rates.

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Mortgage Inventory New Listings Housing Market 462

Housing Wire

DECEMBER 21, 2023

Mortgage rates stayed below 7% for the second week in a row, a welcome relief after a 17-week streak of above-7% rates. The 30-year, fixed mortgage rate averaged 6.67% for the week ending Dec. 21, according to Freddie Mac ‘s Primary Mortgage Market Survey. This week’s dip is the largest weekly drop since November 2022.

Mortgage 511

Mortgage Inventory Construction Marketing 511

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. In our view, it becomes a real missed opportunity for a market desperate for inventory. Q: With U.S.

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Inventory Supply Chain Construction Property Taxes 221

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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Construction Transportation Inventory Government 467

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. of mortgaged U.S.

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Construction Inventory Real Estate Agent Agents 370

Housing Wire

JANUARY 19, 2023

As the housing market slowed from its frenzied peak in 2022 due to soaring mortgage rates, homebuilders pulled back. During the second half of 2022, the pace of new single-family housing starts decelerated quickly as mortgage rates escalated. Builders watched inventories rise as buyers canceled contracts and new orders dried up.

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Inventory Construction Development Housing Market 417

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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Inventory Housing Market Marketing Construction 438

Housing Wire

OCTOBER 22, 2024

Mortgage rates continue to rise, serving as a bucket of cold water for lenders and consumers that were warming to lower borrowing costs just a few months ago. According to HousingWire ‘s Mortgage Rates Center , the average 30-year conforming rate was 6.61% on Tuesday. 18 to 6.15% on Tuesday. On a yearly basis, prices grew by 6%.

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Sellers Mortgage Marketing Construction 447

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. The Mortgage Bankers Association expects this heightened pace to drop unemployment numbers to below 5% by the end of the year.

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Inventory Construction Housing Market Business 514

Housing Wire

APRIL 16, 2021

. “An extremely tight supply of existing homes for sale combined with still-favorable mortgage rates and an improving labor market will continue to support demand for new housing. Suburban multifamily housing construction is also benefitting from this trend.” That’s depleting inventory across the country.

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Inventory Housing Market Marketing Supply Chain 545

Housing Wire

MAY 26, 2022

It’s an excellent time to discuss housing inventory. As the 10-year yield broke above 1.94% and mortgage rates rose, we saw the impact on housing data. How can housing inventory be so low today when it skyrocketed back in 2009? I don’t believe housing inventory below 1.52 The housing market shifted in March of this year.

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Inventory Housing Market Construction Marketing 521

Housing Wire

JULY 6, 2023

The nation’s housing industry has entered a new normal in which the dynamics of the market appear perplexing — marked by high mortgage rates and high home prices, along with shrinking mortgage originations. trillion in mortgage originations in 2021. The perplexing part: Why are home prices not declining in this environment?

Inventory 487

Inventory Renovations Real Estate Government 487

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. This would act as an equivalent to reducing the mortgage rate by more than 1.5%

Construction 535

Construction Renovations Insurance Landlords 535

Housing Wire

OCTOBER 19, 2023

Rates on the 30-year fixed-rate mortgage eclipsed 8% this week as the Treasury yield surpassed 4.9% Per Mortgage News Daily , mortgage rates touched 8.03% on Wednesday, up from 7.69% the previous week. By contrast, the 30-year, fixed-rate mortgage was at 6.94% a year ago at this time.

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Mortgage Housing Market Inventory Construction 492

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

Inventory 357

Inventory Housing Market Marketing Real Estate 357

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.

Construction 545

Construction Inventory Buyers Mortgage 545

Housing Wire

FEBRUARY 13, 2024

Walker said the prospect of lower mortgage rates is prompting many agents to feel more positive about the 2024 housing market. 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. “It New construction is backed up,” she said.

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Construction Supply Chain Inventory Agents 418

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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Inventory Housing Market Marketing Modernization 513

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 rate of homes under construction has roughly plateaued since April 2022. Homebuilders are also pacing the number of homes they bring to market.

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Construction Finance Inventory Development 432

Housing Wire

DECEMBER 22, 2023

Mortgage rates rising to 8% in October impacted the data line, which I spoke about on CNBC recently. We did have three negative revisions, which ran with the period when mortgage rates rose to 8%. We have seen three months of negative revisions on the data due to those higher mortgage rates. This is 12.2 percent (±15.6

Mortgage 524

Mortgage Marketing Construction Inventory 524

Housing Wire

JUNE 3, 2022

After a month of very little change in April , the construction sector had a solid month of job growth in May, according to the U.S. Construction gained 36,000 jobs in May, with residential building adding 5,000 jobs and residential specialty trade contractors gain 11,700 jobs. The post Residential construction jobs now 7.6%

Construction 479

Construction Renovations Transportation Real Estate 479

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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Inventory Construction Mortgage Appraisal 195

Housing Wire

NOVEMBER 16, 2023

Elevated mortgage rates sank builder confidence again in November, but recent economic data suggests housing conditions will pick up in the coming months. On the construction side, homebuilders as well as land developers found it hard to finance projects because of high short-term interest rates.

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Inventory Construction Housing Market Finance 459

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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Construction Advertising Real Estate Real Estate Agent 363

Housing Wire

OCTOBER 24, 2024

The big publicly traded builders have money to pay down mortgage rates and manage their pipelines better than smaller homebuilders. We had no growth in residential construction work hiring earlier in the year when rates were higher. We had no growth in residential construction work hiring earlier in the year when rates were higher.

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Construction Property Taxes Inventory Mortgage 478