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Supply chain issues still stymieing homebuilders

Housing Wire

Homebuilder confidence in single-family homes jumped one point to 84 in February from 83 in January , according to the National Association of Home Builders and Wells Fargo Housing Market Index. Strong buyer demand in February helped offset supply chain challenges and a surge in lumber prices, according to Chuck Fowke, NAHB chairman.

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Housing market inventory is starting to recover

Housing Wire

Single-family housing starts rose 15.3% That’s up 37% from a year ago, but it’s important to take into account that the COVID-19 virus first took hold of the housing market in March 2020, said Doug Duncan, chief economist at Fannie Mae. That’s depleting inventory across the country. from February.

Inventory 545
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The nation’s housing market is on a correction course

Housing Wire

Rising interest rates and a slowing economy overall are already taking some of the air out of the rapid home-price appreciation the housing market has experience over the past year, according to the recently released Federal Reserve Beige Book for July. Inventories are rising across the country. in 2021, Freddie Mac reports.

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The housing market slowdown has only just begun: Fannie Mae

Housing Wire

Economists at Fannie Mae say the Federal Reserve ‘s fiscal policy is having its desired effect on the housing market – home price growth began to slow in the summer, and the GSE says the housing slowdown will continue through 2023. The mortgage market is projected to slip further to $2.17 month supply, up from 1.6

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Mortgage market affordability and inventory challenges

Housing Wire

We are in a unique moment in the history of housing. We interviewed more than 25 mortgage industry experts to gather the best insights, strategies, and recommendations to pivot and win in today’s market. 2022 State of the Mortgage Industry: Affordability and Inventory. Inventory rising, historically low.

Inventory 388
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Fewer housing permits equate to further inventory, affordability challenges

Housing Wire

Theoretically, new construction should be bolstered by the acute shortage of housing on the market,” Point2 said. However, with supply chain issues piling up and loan rates for builders continuing to rise, developers’ confidence is going in the opposite direction.

Inventory 378
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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. High mortgage rates and home prices quelled the surge in buyer demand, and time seems to have moderated the supply chain shocks.