Housing Wire

MARCH 17, 2022

Census Bureau released their construction report for February, showing a positive trend in housing construction data with a lovely print in housing permits at 1,859,000 and housing starts at 1,769,000. So far, housing construction has done well during 2020-2022 considering the economic drama. Today, the U.S.

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Housing Wire

MARCH 27, 2024

Those advantages, coupled with cheap land, made the city a favorite for homebuilders like DR Horton and Lennar that brought plenty of new inventory to market. Its listings in 2023 fell below its 2019 level, although the drop was less steep than that experienced outside of Florida and far less steep than other metros like San Diego.

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Housing Wire

FEBRUARY 21, 2024

billion in sales is still 40% above 2019 levels. In the multifamily space, by contrast sales are down 65% from where they were in 2019. Similarly, construction has slowed but remains elevated. Even at the reduced pace of construction, that still means about 20% of all build-to-rent inventory is under construction today.

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Housing Wire

DECEMBER 29, 2023

And with the ability to buy down consumers’ mortgage rates while still maintaining double-digit margins, new construction grew to comprise roughly 30% of total housing inventory in 2023, more than double a normal year. Let’s look at the new construction forecast for 2024. million new single-family construction units in 2024.

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Housing Wire

JULY 22, 2021

You can thank a rise in housing inventory for the gains. million in June 2020 as housing inventory has slowly improved in recent months. Total housing inventory at the end of June amounted to 1.25 from May’s inventory and down 18.8% ” Unsold housing inventory sits at a 2.6-month share in June 2019.

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Housing Wire

JANUARY 31, 2024

CoreLogic Principal Economist Molly Boesel told HousingWire the 2022 price boom was largely “a spillover from the for-sale market,” which has been stuck in a prolonged inventory crunch in the present high-mortgage-rate environment. Nationally, multifamily construction has grown at a faster rate than single-family construction.

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Housing Wire

MARCH 8, 2023

It is no secret that the housing market is suffering from an ongoing inventory drought. Existing housing inventory fell by 11,021 homes week over week for the week ending March 6, according to data from Altos Research. This resulted in the gap between single family home construction and household formation growing to 6.5

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Housing Wire

AUGUST 16, 2023

Under the new regulations, construction of new residential buildings can continue in areas that have a designated water provider since homebuilders and developers do not need an AWS certificate to obtain a building permit. Phoenix, said Vogel, was already dealing with low housing inventory and increasing affordability issues.

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Housing Wire

APRIL 15, 2024

These metros also continue to grapple with below-average inventory recovery, maintaining pressure on buyers. Recovering inventory in these areas has helped to ease competition and bring price appreciation under control. Bidding wars are commonplace in these areas, exacerbated by a scarcity of options.

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Housing Wire

FEBRUARY 9, 2024

Lot inventory tightened on a quarterly basis, however, a signal of rising builder activity. The market saw a brief reprieve in lot availability as starts slowed, but the fourth quarter data captures the return of tightening as builders step up construction activity,” Zonda chief economist Ali Wolf said in a statement. “75%

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Housing Wire

JUNE 7, 2021

During the previous economic expansion from 2008 to 2019, the housing market was subject to the constant refrain of build more homes. The previous economic expansion from 2008 to 2019 was the weakest housing recovery ever. Because that period followed a housing boom and bust when inventory was overbuilt. Here is why.

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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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Housing Wire

OCTOBER 26, 2020

When mortgage rates got to 4.75% -5% in 2018, demand fell and inventory for new homes went up. This dramatically slowed the rate of growth in construction in 2019. We had to work off the excess housing supply created with those higher rates to get housing starts to be roughly flat for 2019. Anytime inventory dips below 4.3

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Housing Wire

DECEMBER 7, 2020

months, builders will halt the rate of growth for new construction plans as they did in 2018 and again for a brief period this year. For now, though, the low inventory means housing starts have legs to move higher. months, the builders are ok with construction as long as new home sales grow. If supply goes over 6.5

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Housing Wire

JULY 20, 2021

” Mark Palim, deputy chief economist at Fannie Mae , said anecdotal reports of builders delaying or turning down orders to clear a growing construction backlog appears to be borne out by the recent housing starts data. With lumber prices recently pulling back, we expect some near-term strength in construction. million and 1.92

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Housing Wire

MAY 16, 2023

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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Housing Wire

APRIL 27, 2023

The lack of housing inventory is a major constraint to rising sales,” Lawrence Yun , NAR’s chief economist, said in a statement. Sales of new homes are already matching 2019 pre-COVID activity and are expected to increase in 2023, largely due to plentiful inventory in this segment of the market.” year over year.

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Housing Wire

JULY 13, 2022

Looking at the housing market in the years 2020-2024, one risk i identified early on was that home prices could accelerate more in this period than we saw in the previous expansion if inventory channels broke to all-time lows. Back then, we had higher sales, higher inventory, and less price growth, but we had a massive credit bubble.

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Housing Wire

MARCH 23, 2022

For 2020-2024, I set some critical parameters for sales and price growth, knowing that this marketplace will be different from the market we had from 2008 to 2019. Second, because of the downtrend in inventory since 2014 and the demand pick-up we will see in the years 2020-2024, we had a risk of home prices accelerating too much.

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Housing Wire

NOVEMBER 25, 2020

I have been consistent in my stance that during the years 2008 to 2019, we had the weakest housing recovery ever. Only then would we see enough demand from the new home sales market to warrant that much construction. Higher levels of Inventory in the range of 4.4 If inventory breaks over 6.5 Anything below 4.3

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Housing Wire

DECEMBER 23, 2020

This is 11% (±9.5%) below the revised October rate of 945,000, but is 20.8% (±19.5%) above the November 2019 estimate of 696,000.” We don’t need to be concerned about the moderation in the new home sales data because inventory is still low. ” I’m sure you’ve heard the thesis that low inventory suppresses sales.

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Housing Wire

JANUARY 5, 2023

The 2022 housing market was savagely unhealthy , with all-time lows in inventory leading to massive bidding wars and price spikes until the Fed put a screeching halt to all of it with rate hikes that resulted in the most significant one-year spike in mortgage rate history. Housing Inventory. Home price s. million in 2023.

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Housing Wire

FEBRUARY 24, 2023

Homebuilders’ for-sale inventory and months’ supply The seasonally-adjusted estimate of new houses for sale at the end of January was 439,000. months of the supply is active listings, 68K 5 months of the supply is still under construction, 280K 1.6 However, this isn’t how inventory grows in America. When supply is 4.3

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Housing Wire

JUNE 22, 2023

Total housing inventory recorded at the end of May was 1.08 Unsold inventory is at a 3.0-month Available inventory strongly impacts home sales,” Lawrence Yun, chief economist at NAR, said. Available inventory strongly impacts home sales,” Lawrence Yun, chief economist at NAR, said. million units, up 3.8% from May 2022 (1.15

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Housing Wire

AUGUST 31, 2022

In 2019, they teamed up to make a $450 million equity commitment to develop 2,000 new “build-for-rent” homes. Tricon is contributing to a nationwide surge in single-family build-for-rent (SFBFR) construction. Toronto-based Tricon Residential Inc., This latest deal represents the second joint venture between Tricon and ASRS.

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Housing Wire

JANUARY 21, 2021

An estimated 1.380 million housing units were started in 2020 – 7% percent above the 2019 figure of 1.29 Remarkably, most industry experts believe construction rates will climb even higher in 2021. above the December 2019 rate of 1.587 million. “More construction also means more local job creation,” he said.

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Housing Wire

APRIL 18, 2023

Without rents taking off, the CPI data would look much more tame, like what we saw from the years 2000-2019. Currently, new home sales have been trending better as the builders are taking advantage of low existing inventory. However, because of the COVID-19 delays, we are still working through a backlog of homes under construction.

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Housing Wire

JANUARY 22, 2021

from 2019 and the most since before the Great Recession, according to Lawrence Yun, NAR’s chief economist. from December of 2019 – as prices increased in every region. Total housing inventory at the end of December totaled 1.07 The median price in the Northeast was $362,100, up 19% from December 2019.

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Housing Wire

AUGUST 12, 2020

Historically low inventory continues to reinforce and even increase prices in some areas.”. Yun said he doesn’t see home prices decreasing anytime soon, as low mortgage rates are attracting new buyers while there is record-low inventory. lower than total inventory at the end of Q2 2019. For measure, in Q2 1.57

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Housing Wire

JANUARY 19, 2022

You always want to be skeptical of any housing starts data that comes in too strong or too negative from the trend, and we had some specific factors in this report that boosted multifamily construction. However, with that said, the low bar this data line had enjoyed from 2008-to 2019 is gone and we do need to earn growth in this sector.

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Housing Wire

OCTOBER 20, 2020

above the September 2019 rate of 1.274 million, the Bureau said. “The housing market is being constrained by the lack of inventory, with both new and existing homes being sold faster than new listings are arriving.”. above the September 2019 rate of 1.437 million. .” “While starts were up 10.4%

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Housing Wire

JUNE 22, 2021

“Lack of inventory continues to be the overwhelming factor holding back home sales, but falling affordability is simply squeezing some first-time buyers out of the market,” said Lawrence Yun, NAR’s chief economist. Total housing inventory at the end of May grew to 1.23 Unsold inventory sits at a 2.5-month

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Annarbor Appraisal

APRIL 1, 2019

The current monthly stats, run today, show most markets with limited inventory compared to the past 12-months sales, with only Dexter and Saline running over three months’ worth of inventory. Both of these markets have an abundance of new construction and that is considered to be partly to blame for the higher supply levels.

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Housing Wire

AUGUST 18, 2020

The Census report on new construction showed a whopping 22.6% This is 22.6% (±14.7%) above the revised June estimate of 1,220,000 and is 23.4% (±12.4%) above the July 2019 rate of 1,212,000. We spent parts of 2019 whittling down the excess inventory. increase above the revised June estimate in housing starts in July.

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Housing Wire

JANUARY 10, 2022

Even with this increase, fixed-rate loans will still be cheaper than they were before the pandemic: In the 2010-2019 decade the interest rate averaged 4.1% In addition, more for-sale inventory will likely be available on the market. for 30-year fixed-rate loans.

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Housing Wire

MARCH 2, 2022

So-called iBuyers purchased a total of 70,402 homes in 2021, more than doubling the number purchased in 2019, according to a report from Zillow released on Tuesday. Beyond just a record number of purchases by the iBuying companies, the number of completed home sales (44,933) also exceed the previous high from 2019 (28,265).

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Housing Wire

DECEMBER 28, 2021

By the end of 2019, just 4,608 people called the town home, However, by early 2021, the population was already rebounding, with roughly 6,000 people living in Paradise. We have had over 200 lots active on the market at one time since 2019, so we are a little low on inventory.”. So, it’s coming along, but it’s a slow process.”.

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