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 526

Housing Wire

JULY 24, 2024

Homebuilders are still getting squeezed by high mortgage rates. The drop in sales is causing a rapid rise in unsold inventory. Though new home inventory in June remained elevated at a 9.3-month Though new home inventory in June remained elevated at a 9.3-month That’s according to the U.S. That represents a decline of 7.4%

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Inventory Construction Realtors Marketing 458

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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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

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 417

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%

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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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Construction Housing Market Inventory Buyers 488

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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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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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

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%

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Construction Renovations Insurance Landlords 535

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 482

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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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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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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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.

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Mortgage Inventory Construction Marketing 511

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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Inventory Construction Development Housing Market 418

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?

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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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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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Inventory Construction Development Buyers 418

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.

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Construction Buyers Agents Marketing 487

Housing Wire

OCTOBER 19, 2022

As someone concerned about the housing inflation story since inventory channels broke to all-time lows in 2020, I am frustrated by this housing completion data. All housing inventory data points to the second factor. The new home sales market gets hit harder by higher mortgage rates than the existing home market.

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Mortgage Construction Inventory Housing Market 533

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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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

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Mortgage Marketing Construction Inventory 529

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 467

Housing Wire

NOVEMBER 10, 2022

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. . Some of his would-be buyers are renting apartments until mortgage rates markedly improve. Mortgage rates are more than double what they were at the start of the year.

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Construction Supply Chain Buyers Development 482

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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Housing Wire

JANUARY 27, 2025

Without more clarity on mortgage rates , substantial growth in housing permits is unlikely. We are maintaining a steady level, with the best results appearing when mortgage rates approach 6%. For sale Inventory and months supply : The seasonally-adjusted estimate of new houses for sale at the end of December was 494,000.

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Construction Inventory Mortgage Development 452

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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Housing Wire

JUNE 2, 2021

Mortgage applications dropped for the second straight week , this time down 4% for the week ending May 28, 2021, according the Mortgage Bankers Association ‘s weekly mortgage applications survey. This week’s data was compared to mortgage applications from the week of Memorial Day in 2020. the previous week.

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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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Inventory Housing Market Marketing Real Estate 414

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.

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Mortgage Real Estate Inventory Construction 447

Housing Wire

DECEMBER 23, 2024

New home sales grew over last month in the latest Census report , but homebuilders are now facing a supply issue their inventory is building up. When mortgage rates decline, sales improve, but it becomes more challenging for builders and buyers when rates rise. This situation poses a risk to construction labor in 2025.

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Construction Inventory Mortgage Development 525

Housing Wire

AUGUST 16, 2022

Tuesday’s housing starts report clearly shows that homebuilders are going to be done with single-family construction until mortgage rates fall. If it wasn’t for solid rental demand boosting multifamily construction this year — 18% year to date —this data line would have looked much worse.

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Mortgage Construction Inventory Buyers 533

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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Appraisal Buzz

OCTOBER 7, 2024

The housing market is poised for modest appreciation over the next year amidst falling mortgage rates and increasing inventory, Veros says in its Q3 report. On the supply side, inventory levels are expected to remain relatively unchanged over the next year, Veros says.

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Inventory Housing Market Valuation Home Value 361

Housing Wire

FEBRUARY 29, 2024

Mortgage rates continued to trend up this week and dampen homebuyer momentum. The 30-year fixed-rate mortgage averaged 6.94% as of Feb. 29, an increase from last week ’s figure of 6.90%, according to Freddie Mac ’s Primary Mortgage Market Survey released on Thursday.

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