Housing Wire

DECEMBER 7, 2020

The reasons for that are solid demographics and low mortgage rates , which will not change much in 2021. 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.

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Inventory Construction Government Housing Market 545

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. For the builders, they have a new problem: they had homes under contract and then mortgage rates jumped in the biggest fashion ever recorded in history. percent (±10.6

Contracts 545

Contracts Construction Supply Chain Marketing 545

Hank Miller Team

DECEMBER 17, 2021

The Jan/Feb inventory bounce always happens; and it did in 2020 until the world stopped. The bump kinda sorta returned in 2021 but what happens in 2022? See the inventory bumps as we head into the first quarter? Is new construction the answer? If you are a battered and bruised buyer from 2021, expect more of the same.

Buyers 98

Buyers Supply Chain Inventory Real Estate 98

Housing Wire

JUNE 17, 2021

Overall, the MBA estimates new single-family home sales were running at a seasonally adjusted annual rate of 741,000 units in May 2021. “Since reaching a survey-high 927,000 units in October 2020, the annual pace of new home sales has now fallen around 20 percent, weighed down by low housing inventory and rising prices,” said Kan.

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Inventory Construction Contracts Mortgage 500

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. percent (±14.9

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Construction Housing Market Inventory Buyers 465

Appraisal Today

APRIL 5, 2024

With shifts in existing and pending home sales, new home sales, construction activity, and economic indicators such as inflation and mortgage rates, appraisers are navigating a complex landscape. Appraisers must consider regional economic conditions, inventory levels, and buyer sentiment when evaluating properties. percent from 6.93

Appraisal 75

Appraisal Contracts Business Construction 75

Houston Properties

JANUARY 13, 2021

Houston Housing Market Forecast: Current Data & 2021 Predictions. SUMMARY: Coming off a record year, the Houston real estate market started 2021 in a seller’s market. The debt level, both current and anticipated in 2021, is worrisome. We believe the bill won’t come due in 2021 and potentially not in 2022 either.

Housing Market 68

Housing Market Marketing Real Estate Realtors 68

Housing Wire

JANUARY 19, 2023

compared to 2021, according to a report released Thursday by U.S. Housing starts fell again in December, but there are hopeful signs that builders will see a boost in buyer traffic in the coming months and new housing construction may have bottomed,” Lisa Sturtevant, BrightMLS’ chief economist, said in a statement. from December 2021.

Inventory 397

Inventory Construction Development Housing Market 397

Eppraisal

NOVEMBER 30, 2021

Housing starts increased right along with home values in 2021. According to a release from census.gov on November 17, 2021, housing starts were 0.4 This is partly due to the shortage of available housing inventory this year. Home values are increasing, so it is a smart idea to write a contract before they raise the prices.

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Contracts Home Value Design Development 36

Housing Wire

DECEMBER 20, 2022

After record sales in 2021, demand for new construction waned throughout 2022 as the Federal Reserve raised interest rates cutting into home buyer’s purchase power and making financing new development projects even more costly for builders. BH: What are you expecting to see in terms of demand for new construction heading into 2023?

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Supply Chain Construction Inventory Finance 382

Empire Appraisal Group

JANUARY 11, 2023

But even though mortgage rates and home prices are expected to moderate, home sales may still sag under persistent inventory shortages, housing economists predict. Housing inventory is expected to remain tight in 2023, with housing starts below historical averages and fewer homeowners willing to sell, said NAR Chief Economist Lawrence Yun.

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Real Estate Marketing Buyers Sellers 78

Housing Wire

OCTOBER 26, 2022

percent) below the September 2021 estimate of 732,000. The builders will pull back on construction when the supply is 6.5 From Census: For Sale Inventory and Months’ Supply, The seasonally?adjusted When rates rose back in March, there was a considerable risk to the business model with many homes under construction.

Construction 465

Construction Inventory Contracts Buyers 465

Housing Wire

SEPTEMBER 12, 2023

So, the author tried to use new construction prices from back in April to describe the whole U.S. New contracts dipped as affordability is out of reach for so many. Inventory is very low and just inching up now week over week late in the summer. Before that change, it looked as though inventory had peaked for the year.

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Contracts Inventory Housing Market Buyers 403

DataMaster

JANUARY 15, 2021

Appraising in 2021. While we have no crystal ball, we will examine 2020’s real estate and make a foray into predicting what 2021 will do. Will appraising in 2021 be better or worse than in 2020? With all of this selling going on, appraising in 2021 will stay strong! Is this rate of selling sustainable for 2021?

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Appraisal Construction Business Real Estate 147

Housing Wire

OCTOBER 21, 2021

“The gain in existing home-sales in September reflects contracts signed earlier in the summer,” Mike Fratantoni, MBA SVP and chief economist said in a statement. Year-over-year, inventory of unsold homes decreased 13% in September to 1.27 Year-over-year, inventory of unsold homes decreased 13% in September to 1.27

Inventory 410

Inventory Buyers Realtors Contracts 410

Housing Wire

OCTOBER 18, 2021

Sentiment among homebuilders for newly build single-family homes rose four points in October to 80, the index’s highest reading since July 2021. This will spur more construction and help ease upward pressure on home prices.”. NAHB attributes this increase to strong consumer demand for homes. Treasuries and mortgage-backed debt.

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Supply Chain Inventory Buyers Housing Market 535

Housing Wire

FEBRUARY 25, 2021

And inventory shortages are the culprit. But many would-be buyers have also been thwarted by comically low resale inventory, as well as supply chain constraints and escalating materials costs that have made life difficult for homebuilders. All four areas saw contract transactions increase from a year-over-year standpoint.

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Supply Chain Inventory Housing Market Contracts 402

Housing Wire

JULY 25, 2022

Housing demand weakened noticeably as growing concerns about affordability contributed to non-seasonal declines in sales, resulting in a slight increase in inventory and more moderate price appreciation,” states the Federal Reserve’s most recently released Beige Book report — based on data and reports current as of mid-July.

Housing Market 397

Housing Market Marketing Supply Chain Real Estate 397

Housing Wire

JUNE 23, 2021

A new home sale occurs when a sales contract is signed or a deposit is accepted. The home can be in any stage of construction: not yet started, under construction or completed. Supply-side challenges remained a persistent issue, with the count of new homes sold that had not started construction, up 76% over the last year.

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Supply Chain Construction Buyers Development 450

Appraisal Today

DECEMBER 8, 2023

That’s partly because sale-price data is a lagging indicator, reflecting deals that went under contract a month or two ago. Growth in sale prices may slow in the coming months as it starts to reflect sales that went under contract as mortgage rates hit 8% in October. The average contract interest rate for 5/1 ARMs decreased to 6.58

Appraisal 66

Appraisal Real Estate Contracts Design 66

Appraisal Today

SEPTEMBER 22, 2023

I wrote an article in the June 2021 issue of Appraisal Today: Retirement, To Stay or Not to Stay. Home prices in many markets have been supported by low inventory and resilient housing demand for available homes.” The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA increased to 7.08

Appraisal 85

Appraisal Training Inspection Real Estate 85

Housing Wire

SEPTEMBER 14, 2022

Since the spring, inventories were substantially lower in Rhode Island, Maine, and Vermont, but moderately higher in Massachusetts (including Boston proper) and New Hampshire. In New York City, as well as across most of the district, homes sales tapered off, and the inventory of available homes, though still very low, edged higher.

Construction 370

Construction Real Estate Inventory Supply Chain 370

Housing Wire

JUNE 21, 2021

But like the rest of the country, low housing inventory has hit the city hard. The KAAR also said housing inventory dropped for six straight months to start the new year. You set your appointments the night before, and when you get there that morning, they might already be under contract.” year-over-year.

Housing Market 432

Housing Market Marketing Realtors Inventory 432

Appraisal Today

OCTOBER 20, 2023

Fannie Mae Filed a Complaint Against Me October 18, 2023 Excerpts: In June of 2021, I completed an appraisal for a conventional purchase. Note: This update does not apply to newly constructed manufactured homes because these items must be present on all new units. The average contract interest rate for 5/1 ARMs increased to 6.52

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Appraisal Design Contracts Inspection 70

Cleveland Appraisal Blog

MARCH 30, 2021

There is a lot of demand out there, with very little inventory. Within the past couple of weeks, I have appraised several properties for purchases, where my opinion of the market value of these homes was significantly below the contract price. It may be due to inventory levels continuing to drop.

Housing Market 367

Housing Market Marketing Reconsideration of Value Contracts 367

Appraisal Today

JUNE 10, 2022

Construction started in 2001 and took three years to complete with two bedrooms, 2 bathrooms, and a swimming pool. ” The most popular reason for respondents rebuffing the bubble thesis is strong market fundamentals, including demographics, scarce inventory and shifting housing preferences. Available to rent on Airbnb, of course.

Appraisal 52

Appraisal Contracts Business Mortgage 52

Housing Wire

MAY 24, 2022

Except now, we have had massive price gains in 2020, 2021 and 2022. percent) below the 2021 estimate of 809,000. months and above, the builders will pull back on construction. My biggest thing is getting total inventory back to 2018-2019 levels, which can range from 1.52-1.93 This is 16.6 percent (±10.4 percent (±13.7

Housing Market 397

Housing Market Inventory Construction Marketing 397

Housing Wire

FEBRUARY 23, 2021

Rates have slowly climbed back towards 3% in the past few months, but inventory is still low , keeping prices high. Finally, lumber and other building materials are still scarce, forcing construction companies to delay projects and prevent an inventory build-up. December 2020’s 10.4%

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Inventory Finance Contracts Construction 441

Appraisal Today

MAY 19, 2023

The home was essentially hand-built from scratch, and it took two years to construct,” says listing agent Damian Hall, of Blackstream International Real Estate. Good video UAD Redesign the Movie (from 2021 but still relevant) I have written about this twice before in this newsletter. This version is comprehensive and easy to use.

Appraisal 52

Appraisal Business Contracts Real Estate 52

Housing Wire

AUGUST 23, 2022

So for now, the builders will take their time with the homes under construction and make sure they offer enough incentives to unload the new home supply they’re dealing with. percent) below the July 2021 estimate of 726,000. This time, we have less production of homes and more multifamily construction. This is 12.6 percent (±16.9

Construction 370

Construction Housing Market Sellers Marketing 370

Housing Wire

MARCH 26, 2021

During a four-week period ending March 21 and covering 400 metros, 58% of homes that went under contract had an accepted offer within the first two weeks on the market. Builders will then be spending less on new builds, which will help the backlogging of inventory.

Inventory 545

Inventory Contracts Construction Lending 545

Housing Wire

JANUARY 9, 2023

Construction starts in the BFR market are being propelled by the ongoing demand for single-family rental units as high mortgage rates and limited for-sale inventory push home-purchase prospects further out of reach of many would-be homebuyers. In addition, JP Morgan Chase & Co.

Housing Market 545

Housing Market Marketing Construction Development 545

Housing Wire

DECEMBER 31, 2021

Refinancing’s represented nearly two-thirds of mortgage loan originations in the first three quarters of 2021, and total refi volume for the year was projected to reach north of $2.2 Industry experts also predict that home inventory will increase in 2022, creating more options for borrowers. trillion, according to the MBA.

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Marketing Law Government Mortgage 431

The Robert Weiler Company

SEPTEMBER 7, 2022

The sector’s inventory levels, sales volume, and average sales prices indicate that momentum will continue this year. increase from the May 2021 sales level of 13,955. The average home sales price across Ohio in May 2022 soared to $277,452, a 13% increase from the $245,485 price in May 2021. Residential Real Estate Sales.

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Marketing Real Estate Investing Retail 78

Appraisal Today

SEPTEMBER 8, 2023

It’s been on and off the market since 2014, four years after a lengthy construction project there was completed. But that popularity did not translate into a sale, and the stately dwelling returned to the market more recently in 2021 for $35 million. After all, this isn’t the first time the unique property has been listed.

Appraisal 79

Appraisal Contracts Business Construction 79

Listing Spark

SEPTEMBER 25, 2023

Increasing Days on Market and Months Supply of Inventory Days on market and the months’ supply of inventory have witnessed a steady climb, indicating that homes on the market are taking longer to sell. The Rise of New Construction Homes New construction is stepping up to fill the void in the market.

Real Estate 69

Real Estate Sellers New Listings Inventory 69

Will Springer Realtor

SEPTEMBER 8, 2021

The company forecasts an 8% YoY increase in new communities for 2021 across the U.S. Others – Meritage Homes (+20% YoY in 2021) and Tri Point Homes (+15-30% YoY in 2022) – expect tremendous growth of new communities. Builders began construction on just under a million single-family homes in 2020. and another 10% boost in 2022.

Construction 36

Construction Inventory Buyers Real Estate 36