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New home sales fall to lowest pace in a year

Housing Wire

in May to a 769,000 seasonally adjusted annual rate, according to data released Wednesday by the Department of Housing and Urban Development and the U.S. Related supply chain issues have resulted in a big jump in the price of a new home over the past year. Census Bureau. Sales grew 33% in the Northeast, 6.7% in the South.

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Keller Williams launches KW New Homes Community

Housing Wire

Department of Housing and Urban Development and the U.S. Sales continued to trend lower in June as some builders slow sales contracts to manage supply-chains, amidst longer delivery times and higher construction costs,” said NAHB Chairman Chuck Fowke. “We Census Bureau. on a year-to-date basis.

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The state of the homebuilding market

Housing Wire

With continued supply chain disruption, cost increases and fear of inflation , the market has felt tenuous at best. Our upcoming State of the Residential Construction Industry (SORCI) Report will reflect how builders have braced for impact: Despite the rate of new contracts slowing, margins didn’t decrease.

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FHFA to increase GSE fourth-party oversight

Housing Wire

The Federal Housing Finance Agency (FHFA) will increase its oversight of fourth parties – companies that contract with firms doing business with Fannie Mae and Freddie Mac. For the FHFA, the pandemic “demonstrated the fragility of the supply chain and raised awareness of fourth-party risk,” the report said.

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Opinion: The “profitless boom” in residential construction

Housing Wire

Builders are having to delay project start times, resulting in cost blowouts and developments not being completed. Be cautious when signing fixed-price contracts. It’s taking some building companies to the breaking point after more than a year of supply shortages. Enter into contracts that are malleable to market prices.

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Dave Stevens on understanding this housing market

Housing Wire

In fact, it was the skills I developed selling loans that helped develop my ability to influence policy leaders and others in industry during my time as Federal Housing Commissioner and as CEO of the Mortgage Bankers Association. economy, especially the mortgage and housing sector.

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The nation’s housing market is on a correction course

Housing Wire

Both in New York City and across the metropolitan region, there has been a steady and pronounced decline in signed contracts in both May and June, going against normal seasonal trends. … Philadelphia — On balance, contacts reported that sales traffic and contract signings for new homes fell modestly, more so for high-end houses.