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DataDigest: What the latest data says about home prices, construction and sales

Housing Wire

Census Bureau and the Department of Housing and Urban Development. Home construction New home construction ramped up early in the pandemic but moderated as interest rates ticked up and mortgage rates followed. The rate of homes under construction has roughly plateaued since April 2022. The figure – up 17.7%

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US housing market is short 5.5 million homes, NAR says

Housing Wire

According to the lobbying group, construction of long-term housing fell 5.5 The NAR is calling for a “major national commitment” to build more housing of all types by expanding resources, addressing barriers to new development and making new housing construction an integral part of a national infrastructure strategy.

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White House announces new housing initiatives to boost homeownership

Housing Wire

homebuyers to “obtain access to affordable mortgage credit when seeking to purchase properties with ADUs, add ADUs to existing structures, or construct new homes with ADUs,” with such flexibilities designed to allow first-time homebuyers, seniors and inter-generational families to establish generational wealth, the announcement said.

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Homebuilders are feeling pretty good right now

Housing Wire

New home construction is taking on an increased role in the marketplace because many home owners with loans well below current mortgage rates are electing to stay put, and this is keeping the supply of existing homes at a very low level ,” Alicia Huey, the NAHB chair, said in a statement. That share from 2000-2019 was a 12.7%

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New home sales make it clear: Housing is in a recession

Housing Wire

This data line confirms what we all know to be the case: The housing market, at least as it relates to construction, is in a recession. We talked about this in March , and even last year, when I wrote about the problem with the housing construction boom premise. “I don’t expect a boom in housing construction.

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HW+ Member Spotlight: Nicollette Chapman

Housing Wire

I appreciate HousingWire’s diversity in approaching all sides of real estate, from technology to economics. Nicollette Chapman: One of my first jobs in the real estate industry was working as a business development representative for a title company. There is always an opportunity to learn and grow.

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The new home sales recession continues

Housing Wire

So for now, the builders will take their time with the homes under construction and make sure they offer enough incentives to unload the new home supply they’re dealing with. Census Bureau and the Department of Housing and Urban Development. This is below the recession levels of 2000 and back to 1996 levels. This is 12.6