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Dearth of new construction strains migration hotspot of Alabama

Housing Wire

We are very bullish on Alabama and its long-term prospects,” Jeremy Walker, CEO of the Alabama Realtors Association , said. “We Although this is up from 9,962 active listings one year earlier, it is still below the 13,442 listings recorded in early February 2020, just prior to the onset of the COVID-19 pandemic. As of Feb.

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US housing market is short 5.5 million homes, NAR says

Housing Wire

The National Association of Realtors says the current state of the housing market is absolutely “dire,” the consequence of a housing shortage 30 years in the making. According to the lobbying group, construction of long-term housing fell 5.5 In fact, coming off the Great Recession, new home construction in the U.S.

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Keller Williams launches KW New Homes Community

Housing Wire

Department of Housing and Urban Development and the U.S. The June number follows downward revisions to the May estimate and marks the lowest rate since April 2020. While lumber prices have shown some improvement in spot markets, these declines take time to translate into lower construction costs. Census Bureau.

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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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Indiana’s housing market is primed to bounce back in 2024

Housing Wire

Sales from 2022 to 2023 were down 14%,” Mark Fischer, the CEO of the Indiana Realtors Association , said. “We 23, 2024, the 90-day average for single family listings in the state was 9,927, down from 14,314 single family listings in late February 2020. “It Very few new construction homes are going up in our area,” Diamond said.

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Can a New Construction Sale be Used as a Comp for an Older Home?

Birmingham Appraisal

A Different Market I think we can all agree that the real estate market we are currently in, as of the writing of this post, is not the same one we were in from 2020 to 2022. They wanted to know if it was okay to use a new construction sale as a comp for an older home. The market dynamics have changed namely interest rates.

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Can New Construction Sales be Used in an Appraisal of an Older Home?

Birmingham Appraisal

A Different Market I think we can all agree that the real estate market we are currently in, as of the writing of this post, is not the same one we were in from 2020 to 2022. They wanted to know if it was okay to use new construction sales in an appraisal of an older home. The market dynamics have changed namely interest rates.