Eyes on Housing

SEPTEMBER 28, 2023

According to the annual data from the Census Bureau’s Survey of Construction (SOC), a total of 29,000 5,000+ square-foot homes were started in 2022, down from 33,000 in 2021. In 2007, the number fell to 37,000. In the boom year of 2006, the number of new 5,000+ square foot homes reached a peak of 45,000. Read More ›

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Construction 149

Eyes on Housing

NOVEMBER 17, 2023

Despite weakness for single-family construction in 2023, townhouse construction recorded the best quarter for starts in 16 years.

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Construction Design 155

Housing Wire

OCTOBER 21, 2020

million annualized pace for new construction — the highest level since 2007. MBA Associate Vice President of Industry Analysis Joel Kan explained that current inventory rests at just a three-month supply. He said as builders work to replenish the supply with new homes, the most recent census data shows a 1.1

Mortgage 397

Mortgage Inventory Housing Market Construction 397

Housing Wire

MARCH 23, 2023

Back in 2007 — after existing home sales got as low as we have seen in the recent data as the chart below shows — total active listings were above 4 million. This is a massive difference in inventory data and a plus for the homebuilders, which they didn’t enjoy in 2007. The builders will pull back on construction when the supply is 6.5

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Inventory Housing Market Construction Marketing 537

Housing Wire

OCTOBER 19, 2023

for the first time since 2007, according to one index. Incoming data shows that the construction of new homes rebounded in September but as rates keep rising, home builders appear to be losing confidence. As a result, we expect construction to trend down in the short-term,” he said.

Mortgage 467

Mortgage Housing Market Inventory Construction 467

Housing Wire

JULY 26, 2022

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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Construction Housing Market Inventory Marketing 504

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.

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Construction Housing Market Inventory Mortgage 487

Housing Wire

MAY 23, 2023

This is different from the 2007 housing market when the builders’ sales were still collapsing and monthly supply spiked with rising cancellation rates. months and above, the builders will pull back on construction. The Inventory for homes under construction is 263,000 = 4.6 When supply is 4.4-6.4 When supply is 6.5

Inventory 520

Inventory Housing Market Construction Marketing 520

Housing Wire

JUNE 27, 2023

In 2007, we had more than 4 million total active listings, which was too much supply for the builders to compete effectively. months and above, the builders will pull back on construction The current data has seen significant improvement, as the chart below shows. When supply is 4.4-6.4 months , this is just an OK market for builders.

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Construction Inventory Marketing Buyers 494

Housing Wire

NOVEMBER 18, 2020

Single-family housing starts gained for the sixth consecutive month in October on an annualized pace not seen since April 2007, a Census Bureau report released Wednesday revealed. The post Increase in housing starts has construction playing catch-up appeared first on HousingWire. Housing starts overall rose 4.9% million, up 0.6%

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Construction Housing Market Marketing Mortgage 389

Eyes on Housing

DECEMBER 4, 2023

According to NAHB tabulation of data from the HUD/Census Bureau Survey of Construction (SOC), well over 20% of all single-family homes started had decks from 2005 through 2018—as many as 27% in 2007 and 2008. As discussed in Eye on Housing last year, builders have been including decks on fewer and fewer new homes recently.

Construction 172

Construction 172

Empire Appraisal Group

JULY 6, 2022

s rising demand and lack of construction will probably offset a potential cooldown. Still, most economists are not predicting the catastrophic housing crash of 2007-2009 when there was a surplus of homes nationwide and a market saturated with bad mortgages. Unlikely to Feel Impact from Slowing Market. markets, but Fla.’s

Marketing 78

Marketing Landlords Real Estate Tenants 78

Robinson Appraisal Group

NOVEMBER 16, 2018

This form has been a requirement since 2009 as a tool to establish the increase, decrease or stabilization of markets in the aftermath of the housing crisis occurring between 2007 – 2010 due to sub prime lending practices. So what is the 1004MC form? To perform true trend analysis you need to compare apples to apples.

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Tools Appraisal Lending Inspection 78

Housing Wire

DECEMBER 29, 2022

So, when housing peaked in 2005, we had a flood of inventory from home sellers who couldn’t buy a home, and that flood allowed the list to spike to over 4 million in 2007. As you can see below, today — a few days away from 2023 —with existing home sales trending at 2007 sales levels, it is strikingly different.

Housing Market 545

Housing Market Marketing Inventory Sellers 545

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.

Mortgage 384

Mortgage Construction Lending Real Estate 384

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!

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Inventory Housing Market Construction Marketing 506

Housing Wire

JANUARY 27, 2023

291,000 homes are still under construction: 5.7 The builders actually lucked out here because back in 2007, we had over 4 million active listings of existing home, which are usually cheaper than comparable new homes. The builders will pull back on construction when the supply is 6.5 months of supply. When supply is 4.3

Mortgage 538

Mortgage Buyers Construction Inventory 538

Housing Wire

JULY 26, 2023

During the housing bubble crash years, active listings grew to more than 4 million in 2007 because most of the inventory in the U.S. NAR active listings data (see chart below): 2007: 4 million active listings 2023: 1.08 months of the supply are homes that are still under construction, about 260,000 homes 1.7 months to 7.4

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Inventory Construction Sellers Marketing 320

Housing Wire

OCTOBER 4, 2023

The industry segment totaled 823,091 jobs in 2021, the highest total since 2007. Unlike in the construction industry, the BDS data does not distinguish between residential and non-residential, so it is unclear how residential lessors fared relative to retail, office, etc. That total was a 4.9%

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Landlords Agents Brokerage Supply Chain 375

Housing Wire

MAY 3, 2023

The Federal Reserve (Fed) raised its key federal funds rate for the 10th consecutive time, announcing a 0.25% rate hike Wednesday to 5% to 5.25%, a level they have not reached since 2007. “After the awful 9% consumer price inflation in the summer of last year, the latest data shows 5% inflation.

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Real Estate Agent Inventory Loan Officers Mortgage 378

Housing Wire

AUGUST 26, 2021

There are now almost 690,000 single-family homes under construction – the largest number since 2007,” said Mike Fratantoni, the MBA’s chief economist. Census Bureau reported that housing starts hit 1,534,000 for July, missing estimates by 7%, but still a year-over-year improvement.

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Mortgage Inventory Government Construction 473

Housing Wire

AUGUST 18, 2021

in July compared to the prior month, an indication that construction supply lines are still choked and near record-high home prices are shutting out scores of buyers. “There are now almost 690,000 single-family homes under construction – the largest number since 2007. Housing starts in the U.S. million units. .

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Supply Chain Construction Inventory Buyers 491

Housing Wire

NOVEMBER 17, 2022

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. Housing construction productivity has always been terrible compared to other sectors of our economy; I get that, as we still build homes with hammers and nails, not robots.

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Contracts Construction Supply Chain Marketing 541

Housing Wire

MARCH 12, 2024

This includes the pullback by homebuilders in the aftermath of the 2007-08 financial crisis, with “ completions falling from a peak of 2 million units in 2006 to just 585,000 in 2011,” she said. And housing construction never fully recovered after that.” LIHTC accounts for nearly all new federally funded affordable rental housing.”

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Construction Housing Market Insurance Finance 355

Housing Wire

DECEMBER 29, 2020

Larger homes have become more popular as more homeowners are working from home, becoming a main driver for construction. Single-family housing starts saw their highest gain since 2007 in November, according to the U.S. Census Bureau. Housing starts rose 1.2% in November compared to October and are up 12.8% million starts.

Buyers 543

Buyers Construction Realtors Inventory 543

Housing Wire

JUNE 16, 2021

The total number of homes under construction increased 1.2% — the 12th consecutive monthly increase and its highest level since 2007. Permits for new construction by homebuilders dropped 3%, largely because lumber and building material costs kept prices high. Single-family housing starts in May were at a rate of 1.1 from April.

Real Estate Agent 473

Real Estate Agent Construction Real Estate Inventory 473

Housing Wire

JUNE 18, 2023

million The peak in 2007 was a bit over 4 million Currently we’re at 1.04 This week we will get the NAR existing home sales report, which will update that inventory data line, but total inventory levels are still historically low NAR total Inventory levels : Historically inventory is between 2-2.5

Housing Market 469

Housing Market Marketing Inventory New Listings 469

DataMaster

JUNE 16, 2021

From 1993 to 2007, over one million homes were completed per year, ranging from just 1,039,400 to over 1,654,500. The number of constructed homes dropped below the million mark in 2008 for the first time since 1992. Clearly, construction is not keeping up. the rate of construction has decreased over the last couple of decades!

Construction 174

Construction Law Landlords Development 174

Simonson Real Estate

JANUARY 25, 2022

Apartment New Construction. New construction costs are reportedly up about 10% on average, or $20,000/unit more compared to 1 or 2 years ago. New Construction sales have been in the $250,000-$300,000 range. We will need to see rent growth to continue to justify new construction looking ahead. Let’s dive right in.

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Marketing Construction Real Estate Lending 131

Eyes on Housing

DECEMBER 5, 2022

These percentages may seem relatively high—and in fact they have increased significantly since July of this year—but they are nowhere near as high as they were during the 2007-2008 financial crisis. Questions on sales incentives have been a. Read More ›

Construction 205

Construction 205

Housing Wire

JUNE 2, 2022

Data shows homebuyers since 1954 built equity for decades ; those who did not build equity purchased between 2003 and 2007. A data point that explains the resiliency of the housing market: the number of households forming vs. the number of homes constructed. trillion, the most significant annual increase in equity.

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Housing Market Supply Chain Construction Clients 441

Housing Wire

OCTOBER 20, 2020

above the revised August figure of 1.021 million, and a level not seen since 2007, Doug Duncan, chief economist at Fannie Mae , said. million annualized units, a level not seen since 2007. . million annualized units, a level not seen since 2007. “While starts were up 10.4% “The former rose 8.5% over the month to 1.1

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Construction New Listings Housing Market Inventory 485

Appraisal Today

FEBRUARY 23, 2024

acre lot, built in 2007 The chateau was listed in 2014 for $12.8 A local lender gave me an appraisal assignment on the proposed construction of 7 units in the city. Excerpts: 8 bedrooms, 7.5+ baths, 12,770 sq.ft., million, then in June 2023 for $19.7 It was recently relisted at a markup. I researched and learned about the market.

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Appraisal Real Estate Contracts Reconsideration of Value 67

Appraisal Today

JULY 21, 2023

Shortly after, Oatman Architects was brought on for the construction, which wrapped three years later in 2013. The national foreclosure activity total in Q2 2023 was 65 percent below the pre-recession average of 278,912 per quarter from Q1 2006 to Q3 2007. Listed for $42.5

Appraisal 88

Appraisal Real Estate Contracts Business 88

DataMaster

JUNE 16, 2021

From 1993 to 2007, over one million homes were completed per year, ranging from just 1,039,400 to over 1,654,500. The number of constructed homes dropped below the million mark in 2008 for the first time since 1992. Clearly, construction is not keeping up. the rate of construction has decreased over the last couple of decades!

Construction 78

Construction Law Landlords Development 78

DataMaster

JUNE 16, 2021

From 1993 to 2007, over one million homes were completed per year, ranging from just 1,039,400 to over 1,654,500. The number of constructed homes dropped below the million mark in 2008 for the first time since 1992. Clearly, construction is not keeping up. the rate of construction has decreased over the last couple of decades!

Construction 78

Construction Law Landlords Development 78

Housing Wire

JUNE 21, 2022

Data from John Burns Real Estate Consulting shows that student loan debt has increased 100% since 2007, keeping many renters in place. Yes, there are some government programs that provide construction components on permanent loans, but they are not ideal for inexperienced home buyers. There’s an even more subtle consideration.

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Investors Renovations Inspection Government 400