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HINTS OF SHARP INCREASE IN NEW CONSTRUCTION

Will Springer Realtor

Others – Meritage Homes (+20% YoY in 2021) and Tri Point Homes (+15-30% YoY in 2022) – expect tremendous growth of new communities. And many of the new projects are larger than in years past. Builders began construction on just under a million single-family homes in 2020. That’s the most since 2007. ——-.

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The homebuilders got lucky this time

Housing Wire

However, the glaring difference today versus the recession of 2008, is that in 2007 the builders had to deal with over 4 million active listings as competition for their pricey new homes. This is why construction workers haven’t been laid off while other jobs in the housing market have been. months of supply.

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Housing Market Tracker: Purchase apps surprise

Housing Wire

Active housing inventory grew while new listing data fell. New listings data is another big story with housing inventory. Since the second half of 2022, it has been trending at all-time lows This trend has continued all year long, so we have limited new housing to work with.

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Will Springer Realtor - Untitled Article

Will Springer Realtor

The number of new listings for all home types – single-family, townhomes and condos combined – in King (887) fell 47% from November and declined 36% from December 2021. The construction crane was recently removed from the 8 th Avenue and Columbia Street location and interiors are being filled out with high-quality finishes.

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Home Prices Rising Toward Record Highs – Again

Will Springer Realtor

The county saw the combined number of single-family, townhome and condo listings increase in June by 4.4% While that percentage may appear strong, it’s nothing compared to the April-to-May rise of 18%, signaling a probable cooling of new listings in the future. New single-family-home listings rose 3.8%

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CAN HOUSING SHORTAGE CATCH UP TO EASTSIDE DEMAND?

Will Springer Realtor

just as Google opens another office building in Kirkland and Microsoft expands its 120-structure Redmond campus with plans for 17 new office buildings. All this tech construction gives new meaning to IT architecture! “A This looks a lot like the housing boom that we saw prior to the 2007–09 financial crisis.” million sq.

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IS THE HOUSING MARKET HEADED FOR A CRASH?

Will Springer Realtor

There are at least five factors that make this housing environment far different – and more stable – than roughly a decade ago: Low inventory and lack of supply – There were some 4 million homes on the market nationally in July 2007 compared with about 1.1 million people work in residential construction, or about 2.8% of the U.S.