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DataDigest: Construction costs easing for homebuilders

Housing Wire

New home construction exploded early in the pandemic as soaring home demand squeezed existing inventory nationwide, giving homebuilders a much bigger share of a shrinking pie. Index values for most construction inputs are down from 2022 but remain above pre-pandemic levels. That could set the backdrop for a slower pace of construction.

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Inventory needs to increase to balance housing market: Fed Beige Book

Housing Wire

High inflation has reduced consumers’ purchasing power, which has led to weakened sales and construction across all 12 Federal Reserve districts. While home prices have started to inch down, more inventory is needed for a balanced housing market, the Federal Reserve Beige Book said. However, housing affordability worsened.

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Will the Infrastructure Bill Affect the Real Estate Market?

Appraisal Buzz

The housing market has experienced a turbulent few years, so what can industry experts expect in the future? These are a few ways it will affect real estate in the coming months. Construction Sites Will Stay on Schedule. construction sites. Secondary Real Estate Markets On the Rise.

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May jobs report complicates things for the Fed

Housing Wire

Even though the pace of layoffs has picked up, many businesses, particularly in transportation, healthcare, and hospitality, continue to have strong demand for workers,” Mike Fratantoni , the Mortgage Bankers Association’s chief economist, said in a statement. Residential building construction added 2,400 jobs during the month.

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Strong jobs report suggests rate cuts won’t come ‘til summer

Housing Wire

Job gains occurred mainly in health care, government, food services, social assistance, transportation and warehousing. In February, employment continued to trend up in construction, adding 23,000 jobs month over month. The jobs report contains two conflicting implications for the housing market, according to Sturtevant.

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Stronger than expected job growth raises specter of more Fed hikes

Housing Wire

Employment in the construction industry was up by 20,000 jobs from October, thanks to large gains in nonresidential building (up 8,200 jobs) and residential specialty trade contractors (up 6,500 jobs). How can brokers get ahead in a tight market? Residential building lost 2,600 jobs from the month prior.

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What Impact Will the Infrastructure Bill Have on the Housing Crisis?

Appraisal Buzz

The infrastructure upgrades inside the bill could significantly impact some of the housing market’s problems. The Current Housing Crisis. In the past few years, home prices have risen to the point where we are in another housing crisis. This was due to an all-time housing shortage. The Infrastructure Bill.