article thumbnail

HECM program study assesses policy impacts of recent years

Housing Wire

Department of Housing and Urban Development (HUD) Office of Policy Development and Research (PD&R) in 2022 aimed to assess the state of the Home Equity Conversion Mortgage (HECM) program over a 20-year period. The bulk of losses came from loans that originated between 2006 and 2010,” the report stated.

article thumbnail

Building material prices take their toll on new home sales

Housing Wire

Census Bureau and the Department of Housing and Urban Development. In order to account for uncertain prices and availability of materials, homebuilders are holding off on making homes available until they are further along in the construction process. to the highest level since 2006.

Insiders

Sign Up for our Newsletter

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

article thumbnail

Regulatory costs add nearly $94K to new home prices

Housing Wire

Of that $93,870, $41,330 is attributable to regulation during development, and $52,540 is due to regulation during construction. The study was filed out by 2,071 NAHB members and 57 developers, and nearly all of the builders — 98.9%, per the study — reported experiencing some type of regulatory cost during construction.

article thumbnail

New home sales juggernaut continues

Housing Wire

higher than the same time last year, according to the Census Bureau and the Department of Housing and Urban Development. With October’s data in, new home sales have had the strongest three-month stretch since mid-2006, with each month falling just short of 1 million. below September’s 1,002,000 revised rate but still a massive 41.5%

article thumbnail

As prices rise, builder confidence falls from record highs

Housing Wire

Robert Dietz, chief economist for NAHB, said the issues that have limited housing supply in recent years, including land and material availability and a persistent skilled labor shortage, will continue to place upward pressure on construction costs. According to the NAHB, the price of lumber isn’t helping builder confidence either.

article thumbnail

Can 3-D printed homes help solve the housing crisis?

Housing Wire

A former Texas A&M cross country and track athlete and Episcopalian minister, Ballard in 2011 co-founded TreeHouse , a retailer to sell environmentally friendly home construction materials. This means that the doors, windows, electrical all are done by contractors after the walls have been constructed.”. Khater wrote.

article thumbnail

New home sales fell again in February

Housing Wire

Department of Housing and Urban Development and the U.S. “This points to potential for more homes being built later in the year, but the number of homes sold that are under construction fell 9.1% After dropping 4.5% month-over-month in January , new home sales were down again in February, decreasing 2.0% in February. after a 10.4%