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DataDigest: Construction costs easing for homebuilders

Housing Wire

New home construction exploded early in the pandemic as soaring home demand squeezed existing inventory nationwide, giving homebuilders a much bigger share of a shrinking pie. High mortgage rates and home prices quelled the surge in buyer demand, and time seems to have moderated the supply chain shocks.

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What another strong jobs report means for the mortgage industry

Housing Wire

Since August 2023, the unemployment rate has hovered between 3.7% Job gains were most notable in the health care (+72,000), government (+71,000) and construction (+39,000) sectors. In March, employment continued to trend up in construction, adding 39,000 jobs month over month. month over month to $34.69 and were up 4.1%

Mortgage 286
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May jobs report complicates things for the Fed

Housing Wire

Even though the pace of layoffs has picked up, many businesses, particularly in transportation, healthcare, and hospitality, continue to have strong demand for workers,” Mike Fratantoni , the Mortgage Bankers Association’s chief economist, said in a statement. Residential building construction added 2,400 jobs during the month.

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Expectations for 2023 in Seattle/King County Real Estate

Will Springer Realtor

For 34 consecutive months ending in March, buyers enjoyed mortgage interest rates of 4.0% Sellers, meantime, could put nearly any home on the market and expect a reaction of irrational exuberance from financially sound consumers submitting high-priced offers without buyer-favorable contingencies. early in 2023 and drop to 7.1%

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Will Springer Realtor - Untitled Article

Will Springer Realtor

In March 2023, we had an undersupply of 1.7M Builders are trying to catch up and, according to federal officials , there are more housing units under construction today than at any time in the last 50 years. home sales in 2023, the highest level since 2014. We are now experiencing historic shortages. shy of the need.

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Washington Legislators Drive Home More Real Estate Measures in 2024

Will Springer Realtor

Despite a short session this year, lawmakers in Olympia were successful in passing 14 known pieces of legislation that serve to help home buyers and sellers as well as landlords and tenants. The 3-month, 2023 session was deemed the Year of Housing, with 23 pieces of relevant legislation becoming law.

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Appliances for FHA appraisals

Appraisal Today

Acre lot, built in 2023 as a spec home. The tremendous growth in the creation of infrastructure for the expansion of major cities, water systems, canals for transportation of goods, road and street systems, inevitably required acquisition of private property. single-family homes for sale in the fourth quarter were new construction.