Housing Wire

JUNE 3, 2022

After a month of very little change in April , the construction sector had a solid month of job growth in May, according to the U.S. Construction gained 36,000 jobs in May, with residential building adding 5,000 jobs and residential specialty trade contractors gain 11,700 jobs. The post Residential construction jobs now 7.6%

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Construction Renovations Transportation Real Estate 436

Housing Wire

SEPTEMBER 20, 2021

Limited inventory, supply chain disruptions and concerns about inflation have led economists at Fannie Mae to lower their mortgage origination forecasts for the remainder of this year and into 2022. It also downsized its 2022 mortgage origination volume forecast by $55 billion to $3.25 trillion from the $4.36

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Supply Chain Inventory Government New Listings 413

Housing Wire

DECEMBER 21, 2023

This week’s dip is the largest weekly drop since November 2022. A rise in homebuilder confidence , followed by new home construction reaching its highest level since May, signals a response to meet heightened demand as current inventory remains low.” The 30-year, fixed mortgage rate averaged 6.67% for the week ending Dec.

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Mortgage Inventory Construction Marketing 493

Housing Wire

MARCH 27, 2024

Those advantages, coupled with cheap land, made the city a favorite for homebuilders like DR Horton and Lennar that brought plenty of new inventory to market. Listings jumped at both the state and city levels in 2021 and 2022. In this environment of high rates and tight inventory, brokerages have had to become sharp elbowed.

Brokerage 394

Brokerage Realty Real Estate Inventory 394

Eyes on Housing

OCTOBER 25, 2022

After bottoming out at 19% in the first quarter of 2022, the popularity of new homes continues to rebound, as the share of buyers looking for new construction rose to 21% and 27% in the second and third quarters of the year, respectively. A possible factor behind this trend is that the inventory of new homes for-sale is 25% higher.

Construction 190

Construction Buyers Inventory 190

Housing Wire

DECEMBER 16, 2021

Nevertheless, while we view the trends described below as the most likely path for the economy and mortgage market in 2022, this news highlights the elevated level of uncertainty we’ve all been living with the past few years. A silver lining is that we are expecting both 2022 and 2023 to be record years for purchase originations.

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Marketing Mortgage Supply Chain Inventory 449

Housing Wire

OCTOBER 26, 2023

Furthermore, inventory remains tight, which hinders sales but keeps home prices elevated.” Compared to 2022, NAR expects the sale of new homes to grow by 4.5% For those new construction units, the national median new home price is projected to drop by 5.9% between 2022 and 2023, settling at 1.39 in 2024, to $445,800.

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Inventory Contracts Housing Market Realtors 367

Housing Wire

NOVEMBER 30, 2021

As we look forward to 2022, the non-QM market is predicted to grow substantially. trillion in 2022, according to the Mortgage Bankers Association – non-QM will be part of that, of course. New construction has been hit hard by supply chain disruptions and materials and labor shortages, and inventory of existing homes is tight.

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Supply Chain Lending Investors Renovations 325

Housing Wire

SEPTEMBER 27, 2023

After experiencing a temporary hiccup between July 2022 to January 2023, the U.S. Fueling this increase is new construction, according to Divounguy, even though the 1.3% A steady flow of new homes have hit the market this spring and summer, as homebuilders worked diligently to remedy the housing inventory shortage.

Housing Market 504

Housing Market Marketing Inventory Construction 504

Housing Wire

MAY 30, 2023

Low housing inventory and still-strong demand kept prices high in March, according to the latest according to the S&P CoreLogic Case-Shiller National Home Price Index , released Tuesday. below its June 2022 peak.” increase in home prices in the first quarter of 2023 from the first quarter in 2022. House prices were up 0.5%

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Mortgage Inventory Construction New Listings 392

Housing Wire

NOVEMBER 15, 2023

Although high mortgage rates, elevated home prices and limited housing inventory have crippled the 2023 housing market, the outlook for 2024 is brighter, according to Lawrence Yun, chief economist with the National Association of Realtors (NAR). ” According to Yun’s forecast, mortgage rates will fall to between 6% and 7% by spring 2024.

Real Estate 450

Real Estate Inventory Sellers Realtors 450

Housing Wire

DECEMBER 13, 2023

As 2023 draws to a close, housing professionals hope for relief from the high mortgage rates, terrible inventory levels and slow sales that characterized the year. Home starts forecasts, meanwhile, don’t offer much certainty about the pace of construction next year. percentage points, the fastest pace of hikes in four decades.

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Inventory Construction Mortgage Buyers 457

Housing Wire

JULY 18, 2023

This is the index’s highest reading since June 2022. The NAHB attributes the continued rise in builder confidence to low existing home inventory. With shelter inflation accounting for 40% of the Consumer Price Index , the NAHB says the best way to combat this is to build additional for-rent and for-sale housing.

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Inventory Construction Buyers Housing Market 333

Housing Wire

JANUARY 6, 2022

This article is part of our HousingWire 2022 forecast series. After the series wraps early next year, join us on February 8 for the HW+ Virtual 2022 Forecast Event. The supply-demand imbalance fueling the housing market shows no signs of abating in 2022, even as homebuilders attempt to bridge the gap. What about existing homes?

Supply Chain 493

Supply Chain Housing Market Construction Inventory 493

Eyes on Housing

JULY 29, 2022

After falling steadily for five quarters, the popularity of new homes rebounded in the second quarter of 2022, as 21% of prospective buyers reported looking for a newly-built home – up from 19% a quarter earlier. Read More ›

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Buyers Construction Inventory 173

Housing Wire

JANUARY 18, 2024

However, as purchase demand continues to thaw, it will put more pressure on already depleted inventory for sale,” said Sam Khater, Freddie Mac’s chief economist. Housing starts declined 9% in 2023, an indication that homebuyers looking to purchase a new construction home may continue to struggle with the lack of inventory this year.

Mortgage 527

Mortgage Inventory Retail Construction 527

Housing Wire

JULY 26, 2023

It’s a unique housing market, unparalleled in recent years, for the active inventory to be so heavily skewed towards new construction. compared to June 2022. At the current sales pace this inventory represents 7.4 At the current sales pace this inventory represents 7.4 from a month prior, but down 3.6%

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Housing Market Marketing Construction Inventory 339

Housing Wire

JULY 7, 2023

since March 2022. Manufacturing activity remains quite weak, while consumer spending has held up somewhat better, and new home construction and sales have picked up. Employment in the construction industry has increased by an average of 15,000 per month thus far this year, compared with an average of 22,000 per month in 2022.

Construction 337

Construction Renovations Government Inventory 337

Housing Wire

APRIL 14, 2023

Since October of 2022, the share of buyers who are purchasing their home without a mortgage has been more than one quarter of the market. These all-cash homebuyers are happily avoiding the higher mortgage interest rates, which touched 7% in the fall of 2022 before trending down to the current rate of 6.28%. Today, the average is 2.7

Realtors 413

Realtors Buyers Inventory Sellers 413

Housing Wire

DECEMBER 12, 2023

While sellers of existing homes have struggled with rising rates and softening demand, homebuilders have not only survived, but thrived in this market thanks to the use of mortgage rate buydowns , a tool more widely used by builders since their business is selling homes and clearing inventory. 2022 to Dec.

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Tools Inventory Sellers Buyers 381

Housing Wire

NOVEMBER 3, 2023

million, falling somewhere between their March 2022 high (12 million) and their relative pre-pandemic November 2018 high (7.6 In October, construction employment continued to trend up, adding 23,000 more jobs, aligning with the average monthly gain of 18,000 over the prior 12 months. Job openings also kept steady in September at 9.6

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Marketing Construction Housing Market Government 332

Housing Wire

APRIL 27, 2023

For the first time since November 2022, pending home sales fell in March, posting a 5.2% The lack of housing inventory is a major constraint to rising sales,” Lawrence Yun , NAR’s chief economist, said in a statement. In the new construction sector , NAR predicts sales to increase 4.5% year over year. year over year to 4.56

Inventory 398

Inventory Realtors Contracts Construction 398

Housing Wire

JUNE 21, 2023

This slow growth highlights that while demand is there and rates have fallen for three consecutive weeks, activity continues to be constrained by low levels of affordable inventory. Census Bureau data on new residential construction showed that housing starts rose 21.7% from May 2022, to 1.63 On Tuesday, U.S.

Mortgage 346

Mortgage Inventory Construction Buyers 346

Housing Wire

SEPTEMBER 22, 2022

trillion in 2022. Homebuilders may have been reluctant to do so until recently as supply chain bottlenecks and labor shortages have resulted in an elevated share of homes for sale still being under construction compared to the historical norm,” according to the report by the ESR Group. trillion in 2023, according to Fannie Mae.

Housing Market 402

Housing Market Supply Chain Marketing Inventory 402

Birmingham Appraisal

MARCH 26, 2024

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. Prices have held steady and even increased in some areas due to limited inventory. The cost approach is most relevant for new or like new construction.

Construction 79

Construction Appraisal Process Appraisal Bracketing 79

Birmingham Appraisal

MARCH 26, 2024

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. Prices have held steady and even increased in some areas due to limited inventory. The cost approach is most relevant for new or like new construction.

Construction 71

Construction Appraisal Appraisal Process Bracketing 71

Housing Wire

SEPTEMBER 27, 2023

The top three opportunities mortgage pros see are new construction (15.3%), first-time homebuyers (14.5%) and cultivating referrals and building new relationships with buyers, builders and agents (13%), according to HousingWire ‘s Q4 2023 LenderPulse survey. Home price gains hit a new high , rising 0.6% Roughly 47.4% are optimistic.

Housing Market 381

Housing Market Mortgage Marketing Inventory 381

Eyes on Housing

JANUARY 26, 2023

economy continued to grow in the fourth quarter of 2022. As consumer spending and private inventory investment helped increase GDP, residential fixed investment dragged down the contribution to percent change in real GDP by 1.29 percentage points. More importantly, the data from the GDP report suggests that inflation is cooling.

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Investing Inventory Construction 147

Housing Wire

MARCH 28, 2022

In this HW+ Slack Q&A , Lead Analyst Logan Mohtashami gives the inside scoop on where rates are headed, whether or not he has updates to his 2022 forecast and more. HousingWire: To begin, how has your 2022 forecast changed so far? Inventory has been falling for years. What has remained the same?

Housing Market 322

Housing Market Marketing Supply Chain Inventory 322

Housing Wire

AUGUST 4, 2023

Job gains came in lower than both the 278,000 monthly average for the first half of 2023 and the 399,000 average of 2022. since March 2022. Employment in the construction industry continued to trend up in July, adding 19,000 jobs, especially in the residential construction space. In June, job openings eased back to 9.6

Marketing 290

Marketing Construction Renovations Home Improvement 290

Housing Wire

MARCH 8, 2024

The national unemployment rate ticked up for the first time in four months to 3.9%, its highest level since January 2022, but still below the full employment rate of 4%. In February, employment continued to trend up in construction, adding 23,000 jobs month over month. The number of unemployed Americans also rose to 6.5 and were up 4.3%

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Transportation Retail Housing Market Construction 422

Housing Wire

JUNE 2, 2023

since March 2022. The construction sector also saw job gains in May, adding 25,000 positions, thanks to a large uptick in heavy and civil engineering construction, which added 10,700 jobs. Residential building construction added 2,400 jobs during the month. The unemployment rate has remained between 3.4%

Construction 353

Construction Real Estate Housing Market Transportation 353

McKissock

AUGUST 14, 2022

The housing market has cooled since the intensity of the post-pandemic real estate rush, but the seller’s market we experienced has left us with plenty of discussion about what the nation’s housing inventory looks like. Housing Inventory So Low? Here are some things to be aware of as you move into the last part of 2022 and a new year.

Inventory 68

Inventory Construction Real Estate Renovations 68

Housing Wire

JULY 27, 2023

Home prices will be influenced by how much inventory is brought to market. Increased homebuilding will tame price growth, while limited construction will lead to home price appreciation outpacing income growth.” On the flip side, newly constructed home sales are forecast to increase 12.3% from 2022 to 2023, to 1.47

Construction 349

Construction Inventory Realtors Housing Market 349

Housing Wire

MARCH 1, 2022

The company says it will use the funding to scale its operations, accelerate its research and development and expand construction into new markets. Through this building process, Veev says it can build homes up to four times faster than standard construction industry standards, which in turn can bring down costs significantly.

Construction 380

Construction Development Design Inspection 380

Housing Wire

FEBRUARY 15, 2024

Census Bureau ’s one-year American Community Survey in 2022, the most recent year for which data is available. Homeowner tenure is projected to remain flat, but a larger share of homeowners remaining in place is also contributing to an inventory shortage, according to the report.

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Property Taxes Insurance Construction Inventory 451

Housing Wire

AUGUST 3, 2023

Some economists say that this development contributed to drive up the 10-year treasury yield to its highest level since November 2022. Despite higher rates and lower purchase demand, home prices have increased due to very low unsold inventory.” Scarce inventory leads to a modest pace of sales for existing homes.

Mortgage 326

Mortgage Inventory Government Buyers 326