Remove 2007 Remove Construction Remove Inventory Remove New Listings
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Housing Market Tracker: Purchase apps surprise

Housing Wire

Active housing inventory grew while new listing data fell. Here’s a quick rundown of the last week: Active inventory grew 8,041 weekly. Weekly housing inventory This year’s housing inventory theme has been a walking dead musical chorus of a zombie trying to escape a grave. 6% for a year.

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The homebuilders got lucky this time

Housing Wire

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. This is why construction workers haven’t been laid off while other jobs in the housing market have been. months of supply.

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September single-family housing starts reached highest level since 2007

Housing Wire

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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HINTS OF SHARP INCREASE IN NEW CONSTRUCTION

Will Springer Realtor

Others – Meritage Homes (+20% YoY in 2021) and Tri Point Homes (+15-30% YoY in 2022) – expect tremendous growth of new communities. And many of the new projects are larger than in years past. Builders began construction on just under a million single-family homes in 2020. That’s the most since 2007. That’s fair.

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Will Springer Realtor - Untitled Article

Will Springer Realtor

years, according to recent data, when it was only about five years just before the housing market crash of 2007. Falling new inventory is constraining transaction volumes while also supporting higher home prices. The average tenure for homeownership is now at a historic high of 10.7 And, opening this year, Graystone.

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Home Prices Rising Toward Record Highs – Again

Will Springer Realtor

The county saw the combined number of single-family, townhome and condo listings increase in June by 4.4% While that percentage may appear strong, it’s nothing compared to the April-to-May rise of 18%, signaling a probable cooling of new listings in the future. New single-family-home listings rose 3.8%

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FED’S ACTIONS TAKE STEAM OUT OF HOUSING MARKET

Will Springer Realtor

Waller went on to say this adjustment is in no way like the horrific housing/financial crises of 2007-2010. Counties in and near Chicago and New York City were seen as the most vulnerable to today’s economic headwinds. The number of new listings in the previous month and remaining on the market as of Oct. last month.