Remove 2002 Remove Construction Remove Inventory Remove Modernization
article thumbnail

Builders apply the brakes amid canceled contracts

Housing Wire

However, for the first time in recent modern-day history — due to supply chain issues and other factors — housing completion data has lagged behind housing permits and starts. For this reason, the number of housing units “under construction” is the largest ever recorded in history because they were taking so long to finish.

Contracts 542
article thumbnail

Appraisers and Local Market Analysis

Appraisal Today

Inventory levels. The vault is constructed with 4-foot-thick, reinforced concrete walls and is plumbed for a fire suppression system. It’s a modern Cape with two bedrooms upstairs and two downstairs,” Maiser says. percent – the highest level since 2002,” said Joel Kan, MBA’s Vice President and Deputy Chief Economist.

article thumbnail

FED’S ACTIONS TAKE STEAM OUT OF HOUSING MARKET

Will Springer Realtor

We are now seeing “7s” in front of some rates to new mortgage consumers – a figure not seen since April 2002 – causing applications for new loans to hit a 25-year low this month. ( months’ inventory for all homes on the market and in the single-family category. months (or 40 days) worth of inventory is on the market. last month.