Housing Wire

MAY 17, 2023

Department of Housing and Urban Development (HUD). Industry economists attribute the uptick in housing starts and builder confidence to the low level of existing home inventory. In April, the inventory of existing homes for sale totaled just 980,000, far lower than the long-term average of about 2.3 After falling 0.8%

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Inventory Construction Development Housing Market 360

Housing Wire

MAY 23, 2023

Census Bureau and the Department of Housing and Urban Development ( HUD ). Demand for newly built homes has been strong amidst the historically low inventory of existing homes for sale ,” Lisa Sturtevant, the chief economist at Bright MLS , said in a statement. In April, the sales pace of new homes rose 4.1%

Inventory 376

Inventory Construction Development Buyers 376

Housing Wire

JANUARY 23, 2024

For what felt like a moment in time, buyers enjoyed the luxury of being incredibly picky, carefully selecting what felt like their dream homes in a market that had shifted towards more favorable conditions. The changing tides Previously, buyers were able to look for over a month, as average days on market continued to climb.

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Real Estate Agent Real Estate Buyers Agents 404

Housing Wire

JANUARY 19, 2023

Department of Housing and Urban Development. Housing starts fell again in December, but there are hopeful signs that builders will see a boost in buyer traffic in the coming months and new housing construction may have bottomed,” Lisa Sturtevant, BrightMLS’ chief economist, said in a statement. Census Bureau and the U.S.

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Inventory Construction Development Housing Market 379

Housing Wire

NOVEMBER 16, 2023

On the construction side, homebuilders as well as land developers found it hard to finance projects because of high short-term interest rates. On the consumer side, a large number of prospective buyers sat on the sidelines as housing affordability worsened. The gauge measuring traffic of prospective buyers declined to 21.

Inventory 391

Inventory Construction Housing Market Finance 391

Housing Wire

NOVEMBER 29, 2023

Census Bureau and the Department of Housing and Urban Development. Cutting prices is one of several mechanisms homebuilders have employed to keep buyers interested since rates began skyrocketing. The rate of homes under construction has roughly plateaued since April 2022. The figure – up 17.7%

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Construction Finance Inventory Development 365

Housing Wire

MAY 20, 2024

Newly built homes have taken up an outsized portion of inventory since the pandemic for two main reasons, according to Redfin. home construction at the onset of the pandemic. We have a fair amount of new-construction homes for sale, and thank goodness we do,” Nicole Dege, a Redfin Premier agent in Orlando, said in the report.

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Construction Inventory Buyers Sellers 401

Housing Wire

APRIL 2, 2021

Sectors that were hit hardest by the pandemic led job growth last month, with jumps in leisure, hospitality, public and private education and construction – good signs for the housing industry. Despite increased rate of tech adoption, the mortgage industry still has room for continued development and processes. Labor Department.

Inventory 497

Inventory Construction Housing Market Business 497

Housing Wire

JULY 6, 2023

It boils down to two factors, according to housing-industry experts: a lack of housing inventory , or supply; and high demand for that limited housing stock — which also is fueling a jump in new-home sales. In other words, if there were more inventory, we would have more sales happening.” through the first quarter of 2024.”

Inventory 448

Inventory Renovations Real Estate Government 448

Housing Wire

MARCH 1, 2024

We were up year over year in inventory , but we were at a 25 year low on new listings.” Both buyers and sellers are coming back to the market,” Fischer said. Like elsewhere in the country, Indiana has struggled with housing inventory. Very few new construction homes are going up in our area,” Diamond said. 23, 2024.

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Housing Market Marketing Inventory Construction 396

Housing Wire

MARCH 16, 2022

The NAHB/HMI report is based on a monthly survey of NAHB members, in which respondents are asked to rate market conditions for the sale of new homes at the present time and in the next six months as well as the traffic of prospective buyers of new homes. The component tracking traffic of prospective buyers, however, rose two points to 67.

Buyers 370

Buyers Supply Chain Construction Inventory 370

Housing Wire

NOVEMBER 10, 2022

With mortgage rates hovering around 7% and home prices still at record highs, buyers across America are calling off the house hunt and finding multifamily apartments. . Some of his would-be buyers are renting apartments until mortgage rates markedly improve. Department of Housing and Urban Development. It could be a while.

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Construction Supply Chain Buyers Development 407

Housing Wire

JUNE 8, 2021

With tightened housing stock supply, the competition for home buyers is fierce this year. One issue is that among the low inventory, there are even fewer homes that are move-in ready, said Keith Lind, executive chairman and president of Acra Lending.

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Inventory Renovations Lending Construction 324

Housing Wire

MARCH 6, 2024

Moderation in mortgage rates led to a pickup in demand for residential real estate, but limited inventories across the country hindered actual home sales , the Federal Reserve reported in its Beige Book survey of regional business contacts that was published Wednesday.

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Mortgage Real Estate Inventory Construction 348

Housing Wire

APRIL 17, 2023

As existing home inventory continues to fall, builder confidence is on the rise, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) report, released Monday. More buyers looking at new homes, along with the use of sales incentives, have supported new home sales since the start of 2023.”

Inventory 361

Inventory Loan Conditions Buyers Housing Market 361

Housing Wire

MAY 8, 2023

A key source of affordable housing inventory was cut in half over the last three years, resulting from well-intended but heavy-handed efforts to keep delinquent borrowers in homes. That key source of affordable housing inventory: distressed properties sold to third-party buyers or repossessed by lenders at foreclosure auction.

Inventory 371

Inventory Renovations Supply Chain Buyers 371

Housing Wire

APRIL 30, 2021

More than a quarter of single-family homes for sale during the first quarter were new-construction homes — nearly 26%, and March housing starts jumped nearly 20% month over month to the highest level since 2006, per the latest report from Redfin. A healthy housing market is considered roughly six months of supply. ” However, the U.S.

Buyers 441

Buyers Construction Inventory Housing Market 441

Housing Wire

APRIL 25, 2023

Census Bureau and the Department of Housing and Urban Development ( HUD ). Buyers have begun to adjust to the elevated mortgage rate levels, especially in areas where home prices have adjusted downwards to compensate,” Kelly Mangold, the principal of RCLCO Real Estate Consulting , said in a statement. This represents 7.6

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Construction Inventory Buyers Real Estate 399

Appraisal Buzz

MAY 23, 2024

Department of Housing and Urban Development. The last four weeks mortgage rates have been above 7 percent and this is clearly causing many potential home buyers to sit on the fence,” says Carl Harris, chairman of the National Association of Home Builders (NAHB), in a statement. compared with March and down 7.7%

Mortgage 221

Mortgage Construction Buyers Inventory 221

Housing Wire

AUGUST 16, 2023

In certain parts of the Phoenix AMA that do not have a designated water provider, builders and developers need a certificate of AWS to obtain a building permit. Kamps added that he anticipates the prices of the 80,000 lots that already have AWS will also increase if developers chose to sell them, since there currently is a finite supply.

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Construction Agents Development Real Estate Agent 309

Housing Wire

FEBRUARY 26, 2024

Department of Housing and Urban Development ( HUD ). Mortgage rates rose last week to their highest level since mid-December, but homebuilders continue to navigate this landscape by offering interest rate buydowns and other concessions to buyers. New homes constitute slightly more than 30% of the total active inventory in the market.

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Construction Development Housing Market Government 406

Housing Wire

SEPTEMBER 27, 2023

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. Over the past year, the value of the U.S. housing market has surged by more than $2.6

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Housing Market Marketing Inventory Construction 500

Housing Wire

MAY 15, 2024

“The market has slowed down since mortgage rates increased and this has pushed many potential buyers back to the sidelines,” NAHB Chairman Carl Harris, a custom home builder from Wichita, Kansas, said in a statement. “We In May, 25% of builders cut prices, up from 22% in April.

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Buyers Housing Market Insurance Construction 332

Housing Wire

MAY 11, 2024

This can be partly due to a higher percentage of cash buyers in the sales mix that purchase applicatoins won’t account for. Weekly housing inventory data Last week was another week that missed my inventory growth model with higher rates. Rates have fallen recently and inventory growth was higher last week than the previous week.

Mortgage 395

Mortgage Inventory New Listings Housing Market 395

Housing Wire

JUNE 27, 2023

Census Bureau and the Department of Housing and Urban Development. Strong new home sales have gotten the new construction industry back on track to deliver much-needed inventory for this undersupplied market. This is 20% above the May 2022 estimate of 636,000. from April. This represents a supply of 6.7

Inventory 353

Inventory Construction Technology Development 353

Housing Wire

OCTOBER 25, 2023

Census Bureau and the Department of Housing and Urban Development ( HUD ). According to Alicia Huey, chairman of the National Association of Home Builders (NAHB), the lack of existing inventory is the reason why more homebuyers turn to new construction. On a year-over-year basis, new home sales were up 33.9%. It is down 5.4%

Inventory 361

Inventory Construction Housing Market Finance 361

Housing Wire

MARCH 25, 2024

Department of Housing and Urban Development ( HUD ). Additionally, mortgage applications for new homes surged in February as a lack of existing homes for sale continued to fuel the demand for new construction. In that context, homebuilders have more options to attract buyers. Census Bureau and the U.S. from a year ago.

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Construction Inventory Housing Market Finance 368

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 365

Construction Law Finance Realtors 365

Housing Wire

APRIL 19, 2023

But the landscape is changing, and ADU buyers (and ADU builders and makers) are adapting to it. The sharper focus on cost is now boosting interest in modular factory-built ADUs, which tend to be less expensive and faster to build than custom onsite construction. That vision is still under construction, so to speak.

Buyers 323

Buyers Real Estate Construction Finance 323

Housing Wire

MAY 16, 2023

The NAHB/HMI report is based on a monthly survey of NAHB members, in which homebuilders 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. That share from 2000-2019 was a 12.7%

Construction 398

Construction Inventory Buyers Housing Market 398

Housing Wire

APRIL 18, 2023

Department of Housing and Urban Development (HUD). Construction of homes in buildings with five or more units, which generally is going to include apartment buildings, has been running at a faster pace than last year,” Lisa Sturtevant, Bright MLS ’ chief economist, said in a statement. “We million in March, down 0.8% annual increase.

Construction 331

Construction Inventory Buyers Finance 331

Housing Wire

MARCH 16, 2023

Department of Housing and Urban Development (HUD). The pace of new construction had been picking up over the past two years. Completions have outpaced starts since July 2022 and that will likely continue to put downward pressure on the number of single-family homes under construction. Census Bureau and the U.S.

Buyers 407

Buyers Construction Finance Housing Market 407

Housing Wire

JULY 26, 2023

Census Bureau and the Department of Housing and Urban Development ( HUD ). It’s a unique housing market, unparalleled in recent years, for the active inventory to be so heavily skewed towards new construction. At the current sales pace this inventory represents 7.4 In June, the sales pace of new homes fell 2.5%

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Housing Market Marketing Construction Inventory 329

Housing Wire

FEBRUARY 15, 2024

Buyer traffic is improving as even small declines in interest rates will produce a disproportionate positive response among likely home purchasers,” NAHB Chairman Alicia Huey, a custom home builder and developer from Birmingham, Alabama, said in a statement. The gauge measuring the traffic of prospective buyers increased to 33.

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Buyers Housing Market Construction Inventory 380

Housing Wire

MAY 14, 2024

Department of Housing and Urban Development (HUD) exists to facilitate the needs that Americans have for housing — needs that are challenged by affordability, inventory, mortgage rates and more — recent policies of the Biden administration have hindered affordability by focusing on climate-related housing issues instead of costs.

Construction 320

Construction Design Government Inventory 320

Housing Wire

FEBRUARY 26, 2024

It’s not the safest business model either because builders take a contract to buy a home and then, from start to finish, hope that mortgage rates don’t jump on the buyer by the time the home is ready. Census Bureau and the Department of Housing and Urban Development. months , the builders will pause construction. percent (±19.9

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Construction Business Contracts Marketing 523

Housing Wire

NOVEMBER 27, 2023

Census Bureau and the Department of Housing and Urban Development ( HUD ). However, new home sales were still up year-over-year due to a lack of housing inventory in the resale market. Builders have been struggling with the increased cost of borrowing, while many buyers were priced out of an unaffordable housing market.

Housing Market 353

Housing Market Construction Inventory Buyers 353