Housing Wire

FEBRUARY 8, 2022

Supply-side” solutions that focus on new construction and the preservation of the existing housing stock are equally important. since 2008. Despite unprecedented demand for new housing, just 28% of sales in the last 12 months went to first-time buyers, the lowest level in the? Low housing inventory. been falling sharply ?since

Construction 370

Construction Investing Development Landlords 370

Housing Wire

JANUARY 6, 2022

Homebuilders responded to the shortage of homes for sale, accelerating new home construction, even as they face severe supply-side challenges, including rising building material costs and supply-chain bottlenecks, a lack of affordable lots, and difficulty in finding skilled labor. Since 2018, the housing supply deficit has been growing.

Supply Chain 493

Supply Chain Housing Market Construction Inventory 493

Appraisal Buzz

SEPTEMBER 20, 2021

Nothing like the correction and recession of 2008 expected, but notable, nonetheless.). Buyers and sellers? The construction industry? But they’ll eventually deliver lucidity — allowing buyers, sellers, agents, appraisers, and lenders to plan and budget accordingly. And what does this mean for the economy? Interest rates?

Valuation 195

Valuation Property Appraisal Real Estate Sellers 195

Housing Wire

JULY 7, 2022

Slow construction and restrictive zoning laws. One of the major causes of low inventory has been due to slowed construction. After the housing crisis of 2008, many homebuilders went out of business, and for years following the recovery, building did not pick up to the level needed to accommodate demand.

Inventory 392

Inventory Marketing Mortgage Supply Chain 392

Housing Wire

DECEMBER 8, 2022

Over the last four weeks, mortgage rates have declined three-quarters of a point, the largest decline since 2008. The analysis considers a buyer of a median-price home for sale today making a 10% down payment. The extent of recent booms, current construction levels, and changes in migration patterns (e.g.,

Mortgage 363

Mortgage Home Value Construction Investors 363

Housing Wire

APRIL 24, 2023

In addition, some white neighborhoods had zoning laws that legally banned non-white buyers from owning homes in those neighborhoods. This means that the most likely buyer for many of these new retirees will be a minority family. Lower homeownership rates mean there will be fewer buyers. GDP, roughly $3 trillion.

Legal 330

Legal Housing Market Government Buyers 330

Housing Wire

JULY 25, 2023

I do a lot with new construction and homeowners’ insurance is cheaper on new builds because they are brand new,” Williams said. One of my recent new home buyers got their final quote on a property a 30-minute drive from the coast and it had gone up 40% from a year ago.

Insurance 348

Insurance Housing Market Marketing Agents 348

Housing Wire

NOVEMBER 16, 2022

The NAHB/HMI report is based on a monthly survey of NAHB members, in which respondents are asked to rate both current market conditions for the sale of new homes and expected conditions for the next six months, as well as traffic of prospective buyers of new homes. To bring in more buyers, 59% of builders surveyed reported using incentives.

Buyers 544

Buyers Mortgage Real Estate Housing Market 544

Will Springer Realtor

JULY 6, 2021

The Goodwin is the newest Belltown residential choice that is uniquely positioned for the modern buyer. Constructed in 2010 with high standards, the concrete-and-steel, eight-story structure was first opened as an apartment until owners decided to convert each unit and open as a condo later this year.

Modernization 36

Modernization Buyers Real Estate Development 36

Cleveland Appraisal Blog

APRIL 29, 2021

Generally speaking, real estate is one of the most secure investments you can make, and bar any situations like the crash in 2008, you are pretty much guaranteed a constant increase in value and desirability. Again, there is not much you can do about construction materials. What Buyers Look For. Materials used. Outdoor space.

Appraisal 249

Appraisal Investing Buyers Renovations 249

McKissock

AUGUST 14, 2022

Do we have enough houses to meet buyer demand, or will seller listings continue to be snatched up before they hit the market? In 2008, many people lost their homes when the housing bubble burst. Need for New Construction. Now that interest rates are rising, there’s a true lack of affordable housing for buyers.

Inventory 68

Inventory Construction Real Estate Renovations 68

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 447

Construction Housing Market Inventory Buyers 447

Housing Wire

SEPTEMBER 19, 2022

The NAHB/ HMI report is based on a monthly survey of NAHB members, in which respondents are asked to rate both current market conditions for the sale of new homes and expected conditions for the next six months, as well as traffic of prospective buyers of new homes. For 21% of respondents, however, “nothing” had improved.

Buyers 382

Buyers Housing Market Construction Marketing 382

D Fritz Appraisals

JUNE 28, 2022

The state of Victoria’s housing market is never far from anyone’s mind, especially for first-time home buyers, those moving to a new area or for people looking to sell. They have suggested this will happen as a result of buyers being pushed out of the market as interest and mortgage rate increases shrink their available budget by up to 15%.

Real Estate 105

Real Estate Marketing Inventory Housing Market 105

Lamacchia Realty

JULY 10, 2023

The presence of this harmful construction material can lead to a range of issues from the quality of the property to the health of its inhabitants. Between the years 2004-2008, large shipments of drywall were imported to the United States from overseas. What Exactly is Defective Drywall?

Inspection 68

Inspection Realty Agents Sellers 68

Housing Wire

APRIL 25, 2023

According to this theory, we have more homes under construction than any time in history. The truth is, it’s not 2008 all over again. I understand the lure of the housing 2008 story. months and above, the builders will pull back on construction. 267,000 homes are under construction, still.

Inventory 467

Inventory Housing Market Construction Marketing 467

Birmingham Appraisal

MARCH 21, 2023

Over the past several years we had a big increase in demand due to buyers taking advantage of lower interest rates. Since the housing crash in 2008, there has been limited new construction of homes which has negatively impacted the amount of housing supply. Impact on Interest Rates Interest rates can also impact property values.

Real Estate 83

Real Estate Appraisal Marketing Market Value 83

Housing Wire

DECEMBER 16, 2021

While the market has struggled with a lack of inventory in 2021 and builders have reported ongoing supply chain challenges, there are more than 700,000 homes under construction right now, and a growing inventory of new homes for sale. The inventory of existing homes remains quite tight at less than 2.5 The encouraging news?

Marketing 449

Marketing Mortgage Supply Chain Inventory 449

Housing Wire

JUNE 27, 2023

The builders have managed their backlog nicely to ensure this data line doesn’t explode higher on them like we saw in 2008. This means new homes — with all the bells and whistles — can peel some buyers from the existing home sales market, especially if they pay down mortgage rates. Now on to the report. This represents a supply of 6.7

Construction 488

Construction Inventory Marketing Buyers 488

Housing Wire

MARCH 23, 2023

This business model means that the builders are very mindful of the demand for their product and keep an eye out on their main competition, the existing home market, where supply is cheaper for a buyer. They can cut prices, pay down mortgage rates for their buyers, and do what they need to to make it work for them to move their products.

Inventory 537

Inventory Housing Market Construction Marketing 537

Housing Wire

FEBRUARY 24, 2023

They don’t ever have to have the conversation about how low their total payment is in the new home they’re buying, unlike some of their buyers (which explains higher cancellation rates). months of the supply is active listings, 68K 5 months of the supply is still under construction, 280K 1.6 Here is a breakdown of the supply data: 1.2

Inventory 435

Inventory Construction Housing Market Mortgage 435

Raleigh Realty

AUGUST 19, 2022

With the increase in student loan debt, frequent career shifts, and living through the 2008 housing crisis, many may consider millennials financially insecure and opposed to home ownership. 79 percent of millennials are first-time home buyers. However, research surprisingly points in the opposite direction. Marriage is on the decline.

Real Estate Agent 78

Real Estate Agent Real Estate Agents Buyers 78

Housing Wire

MAY 26, 2022

Now don’t get me wrong: demand is better in 2020 and 2021 than in any single year from 2008 to 2019. But we should ask: Why is inventory so much lower now if purchase application data is at 2009 levels — a period in time when inventory was rising noticeably in 2006, 2007, 2008 and 2009? Credit stress was evident from 2005 to 2008.

Inventory 501

Inventory Housing Market Construction Marketing 501

Housing Wire

OCTOBER 11, 2021

First and foremost, it is important to remember that more Americans are buying homes with mortgages in 2020 and 2021 than any single year from 2008-2019. From 2008 to 2019 we had the weakest housing recovery ever, following a bust. Don’t expect a buying or construction boom during this period.

Housing Market 532

Housing Market Marketing Construction Investors 532

Housing Wire

JANUARY 27, 2023

The builders don’t like to see supply of existing homes growing for fear that their buyers might cancel on them. The growth of supply means demand is getting weaker, which will require builders to give more incentives to buyers. 291,000 homes are still under construction: 5.7 months of supply. When supply is 4.4 But since Oct.

Mortgage 538

Mortgage Construction Buyers Inventory 538

Housing Wire

DECEMBER 20, 2022

After record sales in 2021, demand for new construction waned throughout 2022 as the Federal Reserve raised interest rates cutting into home buyer’s purchase power and making financing new development projects even more costly for builders. BH: What are you expecting to see in terms of demand for new construction heading into 2023?

Supply Chain 365

Supply Chain Construction Inventory Finance 365

Housing Wire

FEBRUARY 16, 2023

There is one simple reason for this: it’s not 2008. 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. Buyers have fewer choices than normal in the past eight years — but in reality, since 1982.

Construction 483

Construction Housing Market Inventory Mortgage 483

Housing Wire

NOVEMBER 27, 2023

One of the urban myths spouted by people needing more experience tracking housing data was that millions of homes would hit the marketplace in 2023 because the builders had so many homes under construction. Even in the worst housing bubble crash of our lifetime in 2008, the number of new homes for sale was under 200,000.

Construction 431

Construction Buyers Mortgage Inventory 431

McKissock

JANUARY 31, 2023

Sometimes a homes across the street are not the same pool of buyers as a home a block away, even if it is the same builder and floor plan. Because of where buyers want to live. 2008 illustrated to the market what happens when too many interested parties get a hand in sales transactions.” That determines value.

Real Estate Agent 97

Real Estate Agent Real Estate Agents Appraisal 97

Housing Wire

DECEMBER 7, 2020

months, builders will halt the rate of growth for new construction plans as they did in 2018 and again for a brief period this year. months, the builders are ok with construction as long as new home sales grow. 2) Tighten lending standards, so there are fewer buyers that qualify for the existing inventory. If supply goes over 6.5

Inventory 544

Inventory Construction Government Housing Market 544

Appraisal Today

JULY 21, 2023

This likely has to do with the cost of building a pool, cost of maintaining a pool, and even larger parcels at higher ranges – not to mention buyers at higher price points expecting a pool more often. In contrast, pools hardly exist in some locations, so it’s less of a factor because buyers don’t expect a pool.

Appraisal 90

Appraisal Real Estate Contracts Business 90

Housing Wire

MARCH 23, 2022

Though February’s new sales were below recent highs, builders are still selling homes at a higher seasonally adjusted rate than they did at any point between 2008 and 2019,” Zillow economist data analyst Dan Handy said in a statement. Buyers are facing a housing market that looks to be as competitive as ever,” Handy said in a statement.

Supply Chain 363

Supply Chain Housing Market Buyers Construction 363

Housing Wire

MAY 31, 2022

When we help bring distressed properties back to the market, it’s up to 31% less expensive than a new construction home.”. Since its establishment in 2008, the firm said it has bought and sold about $12 billion in residential real estate.

Mortgage 382

Mortgage Construction Lending Real Estate 382

Housing Wire

JULY 19, 2022

From the National Association of Home Builders : Looking at the housing starts report, the numbers came in slightly better than anticipated, driven by multifamily construction. Still, it’s backward-looking and the growth in multifamily construction, which we desperately need to cool down rental inflation, has recently been positive.

Housing Market 511

Housing Market Marketing Construction Real Estate 511

Housing Wire

MARCH 23, 2022

For 2020-2024, I set some critical parameters for sales and price growth, knowing that this marketplace will be different from the market we had from 2008 to 2019. It’s also driven more by mortgage buyers who tend to be older and make more money than the new-home buyers. First, total home sales should be 6.2

Mortgage 452

Mortgage Inventory Housing Market Construction 452

Housing Wire

SEPTEMBER 22, 2020

The context for this number is that from 2008-2019 my belief was that we would have the weakest housing recovery ever, but in the years 2020-2024, our demographics for housing became vastly improved. I have said for many years that we wouldn’t see total housing construction start a year at 1.5 million or higher until this year.

Housing Market 542

Housing Market Marketing Construction Buyers 542

Housing Wire

JANUARY 19, 2024

It happened in 2008 and then didn’t happen again until 2023. From NAR: First-time buyers were responsible for 29% of sales in December; Individual investors purchased 16% of homes; All-cash sales accounted for 29% of transactions; Distressed sales represented 2% of sales; Properties typically remained on the market for 29 days.

Housing Market 418

Housing Market Inventory Contracts Marketing 418