Remove 2019 Remove Construction Remove Housing Market Remove Realtors
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Low inventory creates challenging conditions in North Carolina’s housing market

Housing Wire

We’ve been a sellers’ market here for at least the past eight years, but probably closer to 10 or 11.“ While this is up from a record low of 7,336 listings set in late April 2022, it is still well below the 29,951 listings in early May 2019, about a year prior to the onset of the COVID-19 pandemic.

Inventory 288
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The housing market is losing steam

Housing Wire

year over year, suggesting a slowdown in the housing market, according to a recent report from the Mortgage Bankers Association. “Last year was the strongest year in the housing market for new home sales in over a decade,” he said. In 2018-2019, total housing market inventory was in the range between 1.52

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First-time homebuyers fueling hot Des Moines housing market

Housing Wire

The Des Moines housing market has had a record-setting year for home sales, which local Realtors credit to low mortgage rates, the work from home phenomenon and Des Moines’ affordable lifestyle. Housing inventory in the Des Moines housing market is tight. I haven’t had anybody so far downsize.”.

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Homebuilders are primed for an even better 2024

Housing Wire

And with the ability to buy down consumers’ mortgage rates while still maintaining double-digit margins, new construction grew to comprise roughly 30% of total housing inventory in 2023, more than double a normal year. Let’s look at the new construction forecast for 2024. million new single-family construction units in 2024.

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Sun Belt cities lead the way for new home sales

Housing Wire

A key conclusion is that while new construction creates additional supply for first-time and move-up buyers alike, it comes with an additional expense. While many metro areas currently offer an advantage where you can purchase a new construction home for a similar price or even less than the average area home, there is still a 23.8%

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Why housing inventory is so low right now

Housing Wire

The big theme of my housing work since 2010 has been that the housing market would have its weakest recovery from 2008 to 2019 because we simply built too many homes versus the real demand curve, and monthly supply proves that. Inventory from 2010 to 2019 was high enough that we didn’t see major bidding wars.

Inventory 493
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Housing starts hit highest pace since 2006

Housing Wire

An estimated 1.380 million housing units were started in 2020 – 7% percent above the 2019 figure of 1.29 Remarkably, most industry experts believe construction rates will climb even higher in 2021. Privately-owned housing starts in December also jumped from November — a 5.8% That’s also 5.2%