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‘Gray tsunami’ comes to South Carolina, testing local resources

Housing Wire

The state of South Carolina is experiencing an influx of retired baby boomers , which could test the capacity of its infrastructure in areas such as health care and transportation services, as well as resources for dealing with isolation and the job market, according to reporting by Charleston-based newspaper The Post and Courier.

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

Housing Wire

While home prices have started to inch down, more inventory is needed for a balanced housing market, the Federal Reserve Beige Book said. In other markets, including the Cleveland district, low inventory levels hindered home prices from dropping further.

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Florida struggles with affordable housing despite bulking up construction

Housing Wire

This is according to a 2024 annual report from the University of Floridas Shimberg Center for Housing Studies, which examines recent trends in housing production, home prices and rents, and the affordable housing inventory.

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Residential construction jobs slowly return

Housing Wire

With housing inventory reaching a new all-time low the week ending November 28, according to a Redfin report , an increase in new homes, would clearly be welcome. The lion’s share of the month’s employment growth came in the professional and business services (90,000 jobs), and transportation and warehousing (50,000 jobs), sectors.

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U.S. hiring slowed in April, missing estimates

Housing Wire

Job gains were most notable in health care (+56,000), in social assistance(+31,000), and in transportation and warehousing (+22,000). A pullback in housing demand, at the same time inventory is starting to increase, could lead to fewer home sales transactions and slow-growing, or even declining, home prices in some markets.”

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Affordability boosts Indianapolis housing market 

Housing Wire

According to Zillow ’s annual predictions, Indianapolis will be the fourth-hottest real estate market of 2024, thanks to its solid economy, housing inventory, affordability and pent-up demand. The top three spots in the ranking were Buffalo, New York, and Cincinnati and Columbus, Ohio. The real estate market As of Jan.

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Residential construction jobs now 7.6% above pre-COVID level

Housing Wire

Although housing inventory is beginning to increase, demand continues to exceed supply even as mortgage rates have spiked,” Mike Frantantoni, the Mortgage Bankers Association’s SVP, said in a statement. Employment in the construction sector is 40,000 higher than its level in February 2020, while employment in residential building is 7.6%