2007 Buyers Construction Sellers 
Housing Wire
JANUARY 27, 2023
The builders don’t like to see supply of existing homes growing for fear that their buyers might cancel on them. The growth of supply means demand is getting weaker, which will require builders to give more incentives to buyers. 291,000 homes are still under construction: 5.7 months of supply. When supply is 4.3
Housing Wire
JUNE 27, 2023
They’re effective sellers and don’t want to create a backlog of completed units for sale because that would ruin their business model. In 2007, we had more than 4 million total active listings, which was too much supply for the builders to compete effectively. Now on to the report. When supply is 4.4-6.4 When supply is 6.5
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Housing Wire
DECEMBER 29, 2022
Part of the issue is that mortgage rates moved up so fast that many sellers quit this year as well. Key thing to remember: A traditional seller is also usually a buyer. When mortgage rates spiked up as much as they did this year, it wasn’t financially appealing to some sellers to purchase their homes at rates of 6.25%-7.37%.
Housing Wire
FEBRUARY 16, 2023
However, the glaring difference today versus the recession of 2008, is that in 2007 the builders had to deal with over 4 million active listings as competition for their pricey new homes. In an odd twist of fate, the delays due to COVID-19 are currently an infrastructure and jobs program for Americans in the construction industry.
Housing Wire
MAY 31, 2022
Geneva Financial, founded in 2007 by Aaron VanTrojen, has more than 130 branch locations in 46 states, according to the firm. When we help bring distressed properties back to the market, it’s up to 31% less expensive than a new construction home.”. Department of Agriculture (USDA). Chicago’s housing market started out hot in 2022.
Housing Wire
MAY 26, 2022
But we should ask: Why is inventory so much lower now if purchase application data is at 2009 levels — a period in time when inventory was rising noticeably in 2006, 2007, 2008 and 2009? Housing tenure ran at five to seven years from 1985-2007 and now is 11-13 years from 2008 2022. This is true except for one big reality!
Appraisal Today
JULY 21, 2023
This likely has to do with the cost of building a pool, cost of maintaining a pool, and even larger parcels at higher ranges – not to mention buyers at higher price points expecting a pool more often. In contrast, pools hardly exist in some locations, so it’s less of a factor because buyers don’t expect a pool. Listed for $42.5
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