Remove Construction Remove New Listings Remove Transportation
article thumbnail

Inventory needs to increase to balance housing market: Fed Beige Book

Housing Wire

High inflation has reduced consumers’ purchasing power, which has led to weakened sales and construction across all 12 Federal Reserve districts. Housing markets continued to weaken, with sales and construction declining across [all 12 Federal Reserve] districts,” according to the Federal Reserve Beige Book released on Wednesday.

Inventory 449
article thumbnail

Can we still avoid a recession?

Housing Wire

The downturn in the LEI reflects consumers’ worsening outlook amid high inflation and rising interest rates, as well as declining prospects for housing construction and manufacturing. In addition, prices paid for transportation of products from China to the U.S. However, for now, gas prices are down. of the consumer price index.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Will Springer Realtor - Untitled Article

Will Springer Realtor

Builders are trying to catch up and, according to federal officials , there are more housing units under construction today than at any time in the last 50 years. An annual survey released this month by the Federal Reserve Bank of New York said renters put the probability of ever owning a home at 40%, down from 44% last year.

HOA 36
article thumbnail

Will Springer Realtor - Untitled Article

Will Springer Realtor

Whether it was cutting red tape and construction costs or ensuring our cities allow more affordable options near transit and jobs, these bills, working together, mean more homes, at more affordable prices, in communities all across our state.” The home was constructed for olive-oil importer John Vittucci. This 5-bed, 4-bath , 6500 sq.

article thumbnail

A CALL FOR MORE ACCESSORY DWELLINGS AMID HOUSING CRUNCH

Will Springer Realtor

ADUs also help local economies by providing housing to people on the lower-to-middle economic scale to live within typically pricy urban areas that are closer to job centers and greater public transportation options. The number of new homes for sale fell 19% (4009) across the county from June to July and 9.5% CONDO NEWS.

article thumbnail

IS THE REAL ESTATE WINDOW CLOSING SHUT?

Will Springer Realtor

Construction could start as soon as 2022 on an ambitious three-tower project known as Cloudvue. Buyers will likely snap up any home to be within walking distance of the new transportation hubs. Coincidentally, one of my listings currently is in the UDistrict, three blocks from the rail station. New listings are up 6.3%

article thumbnail

SEATTLE ‘WALKING’ TOWARDS URBAN CONNECTEDNESS

Will Springer Realtor

A concrete and steel cover connecting First Hill to downtown, for example, would reduce traffic noise, potentially add more parkland and encourage construction of new housing. The few homes that are available are selling quickly and at or above list price.” fewer new listings, the number of sales rose 1.7%

Sellers 36