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New apartment construction hasn’t lowered rents in many areas

Housing Wire

Rent prices have fluctuated alongside home prices in this year’s housing market. More inventory can bring down prices, but some renters still struggle to meet the rental price hikes found in new construction. increase in asking rents for newly constructed apartments in 2024 the biggest spike in 18 months.

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Where Is SFR Construction Booming?

Appraisal Buzz

The build-to-rent market is on fire, with occupancy levels at 95% and strong construction activity in most states and metros in the U.S. Nationwide, more than 110,000 new single-family homes for rent are currently under construction, and Point2Homes has just released a report about this rental construction boom.

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Red Tape Held Back December Housing Construction

Appraisal Buzz

New construction has struggled to keep up with demand. Rising construction costs, zoning restrictions, and a shortage of labor have all contributed to the inability to build enough homes. There are two main reasons the new home market was stronger in 2024, added Bright MLS Chief Economist Lisa Sturtevant.

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2025 labor market holds key for mortgage rates

Housing Wire

Today, the BLS jobs report showed that the labor market is getting softer, but it’s not breaking. However, there is a limit to the downside on mortgage rates until the labor market breaks, or we get more than 1% rate cuts from the Fed. This leads us back to the private sector and residential construction jobs.

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The Southern housing markets poised to become boomtowns

Housing Wire

Southern housing markets have dominated growth lists over the last few years, and a report by CoreLogic today shows Southern markets are still hot. Using growth indicators that measure upcoming construction and development, southern metros take eight spots in the top 10 list. in new construction, 7.2% in recent permits.

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Midwest, Northeast housing markets stay hot amid national cooldown

Housing Wire

housing market has shown signs of slowing, demand remains strong in key Midwest and Northeast cities, where homes are selling weeks faster than the national average, according to Realtor.com s Hottest Markets Report for February. There’s still a lot of first-time homebuyers in the market too. They keep the market healthy.

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Higher mortgage rates keep the market subdued even as more sellers list their homes

Housing Wire

” Last week, following the release of construction data for September from the U.S. While the Fed’s policy rate range of 4.75% to 5% is lower than where it was for the past year, it is still much higher than what many market observers consider a neutral rate needed to spur borrower demand. “We

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