Eyes on Housing

NOVEMBER 23, 2021

According to NAHB analysis of quarterly Census data, the market share of rental units of multifamily construction starts declined to 93.4% In contrast, the historical low share of 47% was set during the third quarter of 2005, during the condo building boom. during the third quarter of 2021. Read More ›

Construction 163

Construction Marketing 163

Eyes on Housing

MAY 24, 2021

According to NAHB analysis of quarterly Census data, the market share of rental units of multifamily construction starts remained elevated at 96% during the first quarter of 2021. In contrast, the historical low share of 47% was set during the third quarter of 2005, during the condo building boom.

Construction 174

Construction Marketing 174

Housing Wire

DECEMBER 23, 2020

Construction continued to play catch-up also as Novembers new-home inventory rose nearly 14% to a 4.1-month a record low in the series dating back to 1963, while the share of homes sold-but-not-yet-started was at a level only seen during the housing bubble in 2005.” The West came in second at a 17.3%

Construction 348

Construction Inventory Buyers Marketing 348

Eyes on Housing

DECEMBER 18, 2023

to help with persistent labor shortages, the construction industry reversed this trend and managed to attract over 90,000 new immigrant workers, levels unseen since the housing boom of 2005-2006. After years of being unable to ratchet up the number of new workers coming from outside the U.S.

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Construction 193

Housing Wire

JUNE 30, 2021

Pending home sales reached its highest mark for the month of May since 2005, up 8% from the previous month of April as low inventory continues driving buyers to snatch up available real estate. ” Ruben Gonzalez, Keller Williams chief economist, added that he is “optimistic” new home construction will pick up.

Supply Chain 421

Supply Chain Inventory Buyers Realtors 421

Housing Wire

DECEMBER 29, 2021

Housing permits are growing and this is a good thing for the economy and construction jobs. While I have never been a housing construction boom guy because mature economies typically don’t have a construction boom, the fact that permits are keeping their uptrend is a big positive for the United States of America.

Housing Market 532

Housing Market Marketing Construction Mortgage 532

Housing Wire

NOVEMBER 4, 2022

As you can see, the construction sector was barely positive; this is one area of the marketplace that should be losing jobs next year. The builders are now holding onto their labor due to the backlog of homes under construction. Below is a breakdown of the jobs created this month. At this point it’s all about timing.

Marketing 502

Marketing Construction Mortgage Housing Market 502

Eyes on Housing

FEBRUARY 23, 2022

According to NAHB analysis of quarterly Census data, the market share of rental units of multifamily construction starts increased to 94.2% In contrast, the historical low share of 47% was set during the third quarter of 2005, during the condo building boom. during the fourth quarter of 2021.

Construction 88

Construction Marketing 88

Housing Wire

JUNE 2, 2022

Unlike the housing bubble years, where credit pushed home prices with demand, we just had a raw inventory shortage with demand picking up for sure, but nothing like we saw from 2002-to 2005. Months are homes under construction 0.8 Then this happened. However, out of that nine months of supply for new homes: 6.0 Ghost Supply 2.2

Training 427

Training Inventory Housing Market Real Estate Agent 427

Housing Wire

MARCH 28, 2022

HousingWire: How will rising rates affect new home construction? Housing construction will be impacted if the monthly supply for new homes breaks above 6.5 This is much different from the marketplace we saw from 2002-2005, a massive credit bubble. What does this mean for first-time homebuyers? months on a 3-month average.

Housing Market 353

Housing Market Marketing Supply Chain Inventory 353

Housing Wire

JULY 8, 2022

Looking at the jobs data and which sector added jobs in March, construction and manufacturing jobs came in positively, and we only lost jobs in the government. Job openings in construction and manufacturing have picked up recently. And the unemployment rate currently stands at 3.6%.

Construction 519

Construction Housing Market Marketing Government 519

Housing Wire

JUNE 3, 2022

Look at the jobs data and which sector added jobs in March: Construction jobs came in positively, but retail trade took a big hit. Job openings in construction and manufacturing have picked up recently. Months are homes under construction 0.8 And the unemployment rate currently stands at 3.6%. Ghost Supply 2.2

Construction 526

Construction Retail Transportation Marketing 526

Housing Wire

MAY 6, 2022

We haven’t seen that yet; the -12% YoY decline is a noticeable weakness, but nothing too dramatic yet like what we saw from 2005-to 2008. New home sales fall, which will create a slowdown in housing construction. This data line is trend survey data. 2022 will be the first actual negative purchase application data year since 2014.

Inventory 362

Inventory Housing Market Marketing Construction 362

Empire Appraisal Group

AUGUST 10, 2023

It consists of stocks whose revenue is primarily derived from the housing and construction sector. That index peaked in 2005 – shortly before the housing bubble burst – and subsequently collapsed. Today Stack’s housing index is twice as high as in 2005, causing him to worry about future housing prices. Buy or sell?

Investing 78

Investing Finance Mortgage Construction 78

Housing Wire

DECEMBER 29, 2022

The housing market of 2002-2005 had four years of sales growth facilitated by credit. As we can see below, the purchase application data had four years of growth, peaking in 2005 and then collapsing. However, what isn’t identical is that we have not had a massive sales boom like we saw from 2002-2005. million in 2005.

Housing Market 545

Housing Market Marketing Inventory Sellers 545

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.

Construction 465

Construction Housing Market Inventory Buyers 465

Housing Wire

NOVEMBER 2, 2020

The peak in this metric for this century was in 2005, and the real bottom was 2008. months, builders pull back, and new construction stalls. Existing home sales, on the other hand, are not as extreme as pending home sales. Existing homes sales didn’t have either the worst or best print in 2020. When monthly supply goes above 6.5

Housing Market 545

Housing Market Marketing Inventory Design 545

Housing Wire

OCTOBER 21, 2020

million annualized pace for new construction — the highest level since 2007. trillion in 2005. MBA Associate Vice President of Industry Analysis Joel Kan explained that current inventory rests at just a three-month supply. He said as builders work to replenish the supply with new homes, the most recent census data shows a 1.1

Mortgage 408

Mortgage Inventory Housing Market Construction 408

Housing Wire

JUNE 27, 2023

As we can see in the chart below, new home sales aren’t booming like what we saw at the peak of 2005 but are getting back to trend sales growth from the bottom we saw when rates got 5% in 2018. Also, in the chart below, we can all agree it isn’t housing 2005 or housing 2008 with new home sales. When supply is 4.4-6.4 When supply is 6.5

Construction 506

Construction Inventory Marketing Buyers 506

Housing Wire

FEBRUARY 24, 2023

If sales are working from an elevated number, like what we saw from 2003-2005, it’s a different subject altogether. months of the supply is active listings, 68K 5 months of the supply is still under construction, 280K 1.6 The builders will pull back on construction when the supply is 6.5 When supply is 4.3 When supply is 4.4

Inventory 472

Inventory Construction Housing Market Mortgage 472

Housing Wire

MAY 26, 2022

That’s not the case now because we have’t had a credit boom post-2010 as we did from 2002 to 2005. However, the spike in inventory that we saw from 2006 to 2011 can be attributed to the massive credit bubble we had from 2002 to 2005. Credit stress was evident from 2005 to 2008. What is going on here?

Inventory 520

Inventory Housing Market Construction Marketing 520

Housing Wire

SEPTEMBER 28, 2022

million level we saw in 2005. However, it does show that the builders are in a much better spot to deal with their massive supply, compared to the 2005-2008 period. The builders will pull back on construction when the supply is 6.5 months are under construction, 1.86 below the August 2021 estimate of 686,000.

Construction 487

Construction Sellers Inventory Housing Market 487

Annarbor Appraisal

JANUARY 20, 2020

Below is a direct comparison of all sales in the Ann Arbor school district excluding new construction and “to be built”. This information takes into account all listed houses in the Ann Arbor school district other than “to be built” and new construction. The December figures that came out a couple of days ago indicate a 7.3%

Construction 78

Construction Realtors Appraisal Valuation 78

Housing Wire

JULY 26, 2022

This data line confirms what we all know to be the case: The housing market, at least as it relates to construction, is in a recession. We talked about this in March , and even last year, when I wrote about the problem with the housing construction boom premise. “I don’t expect a boom in housing construction.

Construction 504

Construction Housing Market Inventory Marketing 504

Housing Wire

APRIL 13, 2022

However, the demand curve of what we have in housing too doesn’t resemble the speculation demand curve of what we saw from 2002-to 2005. So the type of boom and bust we would need to see to reflect bubble speculation demand isn’t in this market like we saw from 2002-to 2005. Have more questions for Logan?

Housing Market 444

Housing Market Marketing Mortgage Inventory 444

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. Why do I call it a housing recession?

Mortgage 531

Mortgage Construction Inventory Buyers 531

Housing Wire

AUGUST 23, 2022

So for now, the builders will take their time with the homes under construction and make sure they offer enough incentives to unload the new home supply they’re dealing with. can’t have a credit sales boom like we saw from 2002-2005. This time, we have less production of homes and more multifamily construction. months and above.

Construction 370

Construction Housing Market Sellers Marketing 370

Housing Wire

FEBRUARY 24, 2022

It gives an idea of what to expect for housing construction. months and above, the builders will pull back on construction. The builders will pull back on construction growth if new homes sales start to head lower. The MBA purchase application data from 2002-2005 is much different than what we have seen from 2018-2022.

Construction 407

Construction Housing Market Marketing Mortgage 407

Housing Wire

NOVEMBER 17, 2022

For this reason, the number of housing units “under construction” is the largest ever recorded in history because they were taking so long to finish. Housing construction productivity has always been terrible compared to other sectors of our economy; I get that, as we still build homes with hammers and nails, not robots.

Contracts 545

Contracts Construction Supply Chain Marketing 545

Housing Wire

NOVEMBER 25, 2020

However, demand has construction playing catch-up , as the estimate of new houses for sale at the end of October was just 278,000. Sales are increasingly being driven from homes not yet under construction. And more sales means more construction means more sales: A large share (38.5%, up from 28.5% This represents a supply of 3.3

Construction 527

Construction Development Mortgage Housing Market 527

Robinson Appraisal Group

MARCH 22, 2018

The vast majority of new construction is for move-up products vs. entry level homes. People that rented their home made up 36% of households in the third quarter of 2017, up from 31% in 2005, according to the Census Bureau. So, there is no sense of urgency for them to move. And lastly…the all mighty investor.

Advertising 78

Advertising Landlords Real Estate Inventory 78

Housing Wire

APRIL 25, 2023

According to this theory, we have more homes under construction than any time in history. As we can see in the chart below, it’s not like the new home sales market is booming at all; we aren’t anywhere near the top of sales in 2005 or in 2020. months and above, the builders will pull back on construction. percent (±15.2

Inventory 484

Inventory Housing Market Construction Marketing 484

Housing Wire

SEPTEMBER 21, 2022

Housing construction in the U.S. Just to give you some perspective here, at the peak of 2005, we had about 2.24 months of homes they have under construction or have not even started yet. Now that mortgage rates have spiked up so much, the housing construction growth we have seen in single-family construction is done.

Construction 519

Construction Housing Market Marketing Business 519

Eyes on Housing

DECEMBER 4, 2023

According to NAHB tabulation of data from the HUD/Census Bureau Survey of Construction (SOC), well over 20% of all single-family homes started had decks from 2005 through 2018—as many as 27% in 2007 and 2008. As discussed in Eye on Housing last year, builders have been including decks on fewer and fewer new homes recently.

Construction 187

Construction 187

Housing Wire

SEPTEMBER 26, 2023

As we can see in the chart below, sales levels aren’t exactly booming like they were from 2002-2005. months, the builders will pause construction. months, and we had a big miss on housing starts last week , mostly coming from multifamily construction. They will build as long as new home sales are growing. When supply is over 6.5

Inventory 499

Inventory Construction Housing Market Marketing 499

Housing Wire

MARCH 23, 2023

We didn’t have the credit stress issue from 2010-2023 like we did from 2005 through 2008. The builders will pull back on construction when the supply is 6.5 We have had many people on social media sites saying a massive housing supply will hit the market soon because we have a record amount of homes under construction.

Inventory 544

Inventory Housing Market Construction Marketing 544

Housing Wire

MAY 24, 2022

As you can see, sales levels were never elevated like what we saw from 2002-2005. This housing cycle is and will always be based on real demand, versus the credit boom we saw from 2002 to 2005. months and above, the builders will pull back on construction. However, this is much different than what we saw from 2002-to 2005.

Housing Market 397

Housing Market Inventory Construction Marketing 397