Housing Wire

DECEMBER 13, 2023

Home starts forecasts, meanwhile, don’t offer much certainty about the pace of construction next year. Among all the experts’ forecasts for 2024, there is no number more tightly watched than mortgage rates, as those rates will undoubtedly impact sales, prices and construction as well. million to 5.07

Inventory 457

Inventory Construction Mortgage Buyers 457

Housing Wire

NOVEMBER 28, 2023

The Federal Housing Administration (FHA) is increasing the “floor” and “ceiling” FHA loan limits in 2024 to $498,257 and $1,149,825, respectively, the FHA announced Tuesday. Virgin Islands account for higher construction costs. The ceiling rate for these areas is $1,724,725 for a one-unit property in 2024.

Finance 465

Finance Construction Mortgage Government 465

Housing Wire

NOVEMBER 22, 2023

Going more in-depth than a Fed meeting, our virtual Housing Market Update event provides you with the strategy-building insights needed to operate in 2024. The number of home sales in 2023 will likely be at its lowest level since 2010, and while sales activity will pick up in 2024, transactions will still be below average.

Housing Market 476

Housing Market Marketing Inventory Sellers 476

Housing Wire

NOVEMBER 4, 2021

To keep pace with current construction demand, and account for attrition, 740,000 new construction workers are needed each year for the next three years , a report by the Home Builders Institute contends. From 2022 through 2024, this total represents a need for an additional 2.2 million new hires for construction.

Construction 522

Construction Renovations Training Development 522

Eyes on Housing

MAY 16, 2024

Year-over-year gains for townhouse construction continued at the start of 2024 as demand for medium-density housing continues to be strong.

Construction 153

Construction Design 153

Eyes on Housing

MAY 2, 2024

Reflecting persistent long-term labor challenges, wages in construction continue to rise, often outpacing and exceeding typical earnings in other industries.

Construction 78

Construction 78

Housing Wire

DECEMBER 19, 2023

The landscape of real estate is undergoing significant transformations in 2024, driven by a confluence of technological advancements, shifting market dynamics and evolving consumer behaviors. The housing market’s conditions, characterized by soaring prices and limited availability, have compounded these challenges.

Real Estate 437

Real Estate Marketing Technology Tenants 437

Housing Wire

FEBRUARY 28, 2024

Like many localities across the country, Marin County leaders describe a housing crisis in their area that they hope to alleviate through the construction of more ADUs. It is a notoriously expensive housing market and maintains an estimated population of more than 260,000 people, according to data from the 2020 U.S.

Construction 357

Construction Finance Mortgage Housing Market 357

Eyes on Housing

MARCH 1, 2024

NAHB analysis of Census data shows that private residential construction spending rose 0.2% in January 2024, the second month of gains in a row. The monthly increase in total construction spending is attributed to more single-family construction. Spending on single-family construction rose 0.6% in December.

Construction 166

Construction 166

Housing Wire

FEBRUARY 13, 2024

Walker said the prospect of lower mortgage rates is prompting many agents to feel more positive about the 2024 housing market. 9, 2024, Alabama had a 90-day rolling average of 11,894 active single-family listings, according to data from Altos Research. New construction is backed up,” she said. As of Feb.

Construction 353

Construction Supply Chain Inventory Agents 353

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

MARCH 26, 2024

Still, despite the gloomy news of late for SFR and fix-and-flip investors, some industry experts see better fortunes ahead in 2024 for both sectors. “We In addition, new-home construction — including in the hot build-to-rent (BTR) sector — is helping to slowly boost housing supply.

Investors 426

Investors Marketing Inventory Real Estate 426

Inman

FEBRUARY 20, 2024

Building costs will rise between 3 percent and 6 percent throughout 2024, depending on the market, according to data released Tuesday by cost management firm Currie and Brown.

Construction 137

Construction Marketing 137

Eyes on Housing

MAY 10, 2024

High interest rates and construction costs are the most serious impediments for new multifamily development according to the Q1 2024 NAHB Multifamily Market Survey (MMS).

Development 129

Development Construction Marketing 129

Housing Wire

JANUARY 30, 2024

Two complex factors are set to transform the rental market in 2024, creating new challenges and opportunities for property managers. The second is a more competitive rental market, driven by record-high construction of multifamily rental properties.

Property Management 335

Property Management Marketing Real Estate Technology 335

Eyes on Housing

FEBRUARY 16, 2024

Bureau of Labor Statistics, indicated that inputs to residential construction, goods less foods and energy (residential building materials, not seasonally adjusted) increased 1.28% between December 2023 and January 2024. The latest Producer Price Index, reported by U.S.

Construction 158

Construction 158

Housing Wire

AUGUST 24, 2023

Fannie Mae maintains its baseline call for a recession to occur – forecasting it to begin in the first half of 2024. In its July ESR note , Fannie Mae projected a modest recession beginning in Q4 2023 or Q1 2024. on a Q4/Q4 basis and revised its 2024 GDP growth prediction to a 0.2% decline from 0.1% This was 9.5%

Construction 262

Construction Retail Mortgage Contracts 262

Eyes on Housing

APRIL 29, 2024

to a seasonally adjusted annual rate (SAAR) of $4 billion in the first quarter of 2024, after a 2.3% According to the data released by Bureau of Economic Analysis (BEA), private fixed investment in student dormitories edged down 0.1% increase in the prior quarter. Private fixed investment in dorms was 10.4% higher than a year.

Construction 86

Construction Investing 86

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 440

Construction Housing Market Inventory Buyers 440

Housing Wire

MAY 22, 2023

For 2024, the agency anticipates volumes of $2.03 It continues to outperform our expectations, and we expect that its relative strength will help kickstart the economy into expanding again in 2024,” Doug Duncan, senior vice president and chief economist of Fannie Mae, said. Fannie Mae projected total originations for 2023 to be $1.65

Construction 379

Construction Inventory Government Contracts 379

Housing Wire

JANUARY 11, 2024

Although what lies ahead in the world of real estate and mortgage services in 2024 remains a bit uncertain, it’s now crystal clear that, beyond the already-tired suggestion that we “survive until ’25,” quite a few businesses will be seeking to find additional sources of revenue.

Brokerage 403

Brokerage Real Estate Business Construction 403

Housing Wire

MAY 15, 2024

Unfortunately, there is evidence that rents are going to be on the rise in the second half of 2024, according to Bright MLS chief economist Lisa Sturtevant. Record levels of new apartment construction in some markets in 2023 started bringing rents down,” Sturtevant said. That slowdown in new supply will increase pressure on rents.”

Construction 392

Construction Investors Marketing Mortgage 392

Housing Wire

FEBRUARY 5, 2024

single-family homes for sale were new construction, similar to the percentage from a year earlier and good for the highest level of any fourth quarter on record. High interest rates, rising inflation , growing labor costs and worker shortages weighed the most on homebuilders in 2023, and they’re poised to remain top of mind in 2024.

Construction 380

Construction Housing Market Buyers Sellers 380

Housing Wire

MAY 16, 2024

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%

Construction 363

Construction Law Finance Realtors 363

Eyes on Housing

JANUARY 24, 2024

According to the January 2024 survey for the NAHB/Wells Fargo Housing Market Index, high interest rates were a significant issue for 90% of builders in 2023, and 77% expect them to be a problem in 2024. The second most widespread problem in 2023 was rising inflation in US Economy, cited by 83% of builders, with 52% expecting it to be.

Housing Market 162

Housing Market Marketing Construction 162

Housing Wire

MAY 21, 2024

“It’s oddly enough in states where people are leaving,” said Florida-based real estate investor Paul Lizell of the markets where he is more focused on acquiring investment properties in 2024. REO auction volume in Q1 2024 was at just 38% of its Q1 2020 level, according to the Auction.com data. in Q1 2024, up from 55.0%

Marketing 422

Marketing Investors Real Estate Investing 422

Housing Wire

JANUARY 19, 2024

The government sponsored enterprise is projecting that rates will drop below 6% by the end of 2024, which in turn will boost refi volumes and help thaw the existing home sales market. Following years of volatility in mortgage rates, the housing market will begin its gradual return to a more normal balance in 2024. million in Q4 2023.

Mortgage 540

Mortgage Contracts Construction Government 540

Housing Wire

APRIL 4, 2024

Despite recent data indicating a poor affordable housing situation in Texas , the city of Houston must return $45 million in unused affordable housing funds to the state after failing to use them for construction of new homes. Instead, the city failed to begin construction on the homes in a timely manner.

Construction 387

Construction Government Housing Market Finance 387

Housing Wire

JANUARY 26, 2024

According to an NAR outlook, home sales are projected to rise significantly in 2024 and 2025 as the housing market steadily returns to normal. The trade organization projects a 13% increase in existing home sales between 2023 and 2024 for an annualized pace of 4.62 increase between 2024 and 2025 to a pace of 5.35 million units.

Contracts 445

Contracts Housing Market Construction Inventory 445

Housing Wire

DECEMBER 19, 2023

New construction rose to a seasonally adjusted annual rate of 1,560,000, according to the U.S. Single-family building activity drove November residential construction activity. Single-family building activity drove November residential construction activity. But permits for future construction fell 2.5% from October.

Construction 383

Construction Mortgage Development Buyers 383

Housing Wire

MAY 23, 2024

However, we need to keep an eye on the housing construction data in this report because it has huge implications for the economic cycle, our recession risk and mortgage rates. The future production of housing units at risk I am bringing this up because economic recessions tend to see residential construction workers lose their jobs first.

Marketing 394

Marketing Construction Mortgage Housing Market 394

Housing Wire

JANUARY 9, 2024

Heading into 2024, there are continuing and emerging financing options, grant programs and legislation all designed to help homeowners and builders create much-needed infill housing. Draw structures for loans supporting new construction of ADUs, especially for prefab, are still “clunky.”

Finance 435

Finance Construction Tenants Renovations 435

Housing Wire

JANUARY 19, 2024

Simultaneously, a historic boom in multifamily construction has increased the supply side, resulting in a national vacancy index hovering around 6.4% — slightly higher than the 2019 average. In summary, the 2024 rental market, shaped by economic and societal shifts, is likely to be very dynamic and poised to continue gaining relevance.

Marketing 429

Marketing Real Estate Construction Agents 429

Eyes on Housing

APRIL 12, 2024

Over the first two months of 2024, the total number of single-family permits issued year-to-date (YTD) nationwide reached 155,236. On a year-over-year (YoY) basis, this is an increase of 38.4% over the February 2023 level of 112,131. Year-to-date ending in February, single-family permits were up in all four regions.

Construction 153

Construction 153

Housing Wire

FEBRUARY 23, 2024

The year 2024 has started with cautious optimism that mortgage rates will drop, sparking much-needed activity in the sluggish U.S. Fannie Mae, however, remains optimistic that housing market activity will pick up as existing home sales and new single-family housing starts are expected to grow modestly in 2024. housing market.

Housing Market 449

Housing Market Marketing Retail Mortgage 449

Housing Wire

JUNE 7, 2023

The Mortgage Bankers Association (MBA) announced on Wednesday that Christine Chandler, the executive vice president, chief credit officer, and chief operating officer of M&T Realty Capital Corporation (RCC), has been nominated to serve as MBA’s vice chair for the 2024 membership year.

Real Estate 291

Real Estate Finance Realty Construction 291

Housing Wire

MAY 23, 2024

In the first quarter of 2024, 38% of a typical household’s income was needed to make a mortgage payment on a median-priced, new single-family home in the U.S. In Q1 2024, eight of 176 markets studied revealed that typical families were severely cost-burdened, spending more than 50% of their income on a median-priced existing home.

Supply Chain 358

Supply Chain Insurance Training Construction 358