Housing Wire

NOVEMBER 30, 2023

Meanwhile, new home sales posted a better performance as homebuyers pivoted to new construction amid waning existing home supply. Home sales should perform better in 2024 even if affordability remains a challenge According to Bright MLS’s forecast , mortgage rates will continue to trend downward in 2024, finishing the year at 6.2%.

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Housing Market Inventory Realtors Construction 474

Housing Wire

MARCH 4, 2024

The persistent scarcity of existing homes drove buyers toward newly built properties, allowing builders to maintain double-digit margins. New construction accounted for approximately 30% of active for-sale housing inventory, doubling the usual figures for a standard year.

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Construction Inventory Sellers Buyers 359

Appraisal Buzz

MARCH 26, 2024

The median sales price of new home sold in February 2024 was $400,500. As interest rates subside over the course of 2024, additional home buyers will be priced into the market and new construction will be needed to meet this demand.” “A compared with January but up 5.9% compared with February 2023, according to the U.S.

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Housing Wire

JULY 27, 2023

in 2024, according to NAR’s forecast. Given the ongoing job additions, any meaningful decline in mortgage rates could lead to a rush of buyers later in the year and into the next.” million in 2024. Home prices will be influenced by how much inventory is brought to market. in 2024, to 820,000.

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Construction Inventory Realtors Housing Market 363

Housing Wire

APRIL 5, 2024

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. Overall, there will be more home sales in 2024 than there were last year but the timing is uncertain,” Sturtevant said.

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Housing Wire

MARCH 28, 2022

The one thing that has happened in 2022 that has been worse is that national inventory levels have worsened in 2022 to start the year. Inventory has been falling for years. HousingWire: How will rising rates affect new home construction? Housing construction will be impacted if the monthly supply for new homes breaks above 6.5

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Housing Wire

MARCH 1, 2024

We were up year over year in inventory , but we were at a 25 year low on new listings.” But as the calendar flipped to 2024 and as we inch closer to the spring selling season, Fischer said things have started to pick up. in mid-January 2024. as of February 29, 2024. According to Altos Research, as of Feb.

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Housing Wire

SEPTEMBER 22, 2023

But somebody has to replace the Fed, and the Fed is not an economic buyer. So they are a policy buyer. They may require wider spreads than the Fed because the Fed is not an economic buyer. We expect production volumes to remain low through 2024 and start to pick up maybe toward the end of 2024.

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Housing Wire

FEBRUARY 13, 2024

Walker said the prospect of lower mortgage rates is prompting many agents to feel more positive about the 2024 housing market. Lower rates are likely to make homeownership accessible to more buyers and it should prompt some potential sellers who are locked in at a rate of 3% or less to list. New construction is backed up,” she said.

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Housing Wire

JANUARY 3, 2024

Housing experts expect that a boost in apartment inventory in 2024 will dampen rent growth. Real Estate Market Outlook 2024. About 900,000 units are currently under construction , and 440,000 new units are expected to be completed in 2024, according to the report. However, affordability woes will persist.

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Housing Wire

AUGUST 3, 2022

This is why I focused my readers on the years 2020-2024, because if home prices only grew by 23% over five years, we would be ok. They have to move as well, so a traditional seller is a buyer most of the time when it’s a primary resident owner. Also, we have to know that we aren’t working from a high level of inventory data as well.

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Mortgage Inventory Sellers Housing Market 504

Appraisal Today

APRIL 5, 2024

To see the listing with 19 photos, Click Here == LoanDepot Appraisal Discrimination Settlement By Peter Christensen, March 28, 2024 Connolly and Mott v. The second development in the case is that on March 22, 2024, the attorneys for Drs. a state-of-the-art home gym, salon, yoga room. No pickleball court. District Court, Maryland.

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Eppraisal

MARCH 17, 2023

From COVID-19 interventions to supply chain disruptions to record inflation, the hits kept coming against a real estate market that was already experiencing diminished inventories and a growing pool of buyers. Prior to COVID, i.e. March of 2020, inventory was already falling. Where Have We Been? Where Do We Stand Now?

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Supply Chain Home Value Inventory Construction 69

D Fritz Appraisals

JUNE 28, 2022

The state of Victoria’s housing market is never far from anyone’s mind, especially for first-time home buyers, those moving to a new area or for people looking to sell. Significantly reduced housing inventory. In the Victoria, BC housing market, low inventory has continued to result in record low sales numbers.

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Housing Wire

NOVEMBER 16, 2023

On the construction side, homebuilders as well as land developers found it hard to finance projects because of high short-term interest rates. On the consumer side, a large number of prospective buyers sat on the sidelines as housing affordability worsened. The gauge measuring traffic of prospective buyers declined to 21.

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Inventory Construction Housing Market Finance 435

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

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. million or higher during 2020-2024. The demographic bump in 2020-2024 is giving us a push in demand. months and above, the builders will pull back on construction.

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Mortgage Inventory Housing Market Construction 477

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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Construction Housing Market Inventory Buyers 464

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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Housing Wire

APRIL 18, 2024

“There are nearly six million more jobs now compared to pre-COVID highs, which suggests more aspiring home buyers exist in the market.” The inventory of existing homes has been steadily increasing, despite elevated mortgage rates. At the end of March, total housing inventory sat at 1.11 Meanwhile, unsold inventory sat at a 3.2-month

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Inventory Real Estate Agent Sellers Buyers 384

Housing Wire

MARCH 26, 2024

Still, despite the gloomy news of late for SFR and fix-and-flip investors, some industry experts see better fortunes ahead in 2024 for both sectors. “We In addition, any reprieve in the housing inventory shortage created by more multifamily units hitting the market is expected to be short-lived.

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Investors Marketing Inventory Real Estate 454

Housing Wire

SEPTEMBER 21, 2023

Until interest rates come down, affordability challenges will continue to put first-time buyers on the sidelines, housing industry observers said. In an elevated rate environment, the lack of inventory continues to be the biggest challenge for many potential buyers, the Mortgage Bankers Association said. in 2024 and 5.1%

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Real Estate Mortgage Buyers Inventory 406

Housing Wire

APRIL 25, 2023

You know, the one that says we have too much inventory and millions of vacant homes in the U.S.? According to this theory, we have more homes under construction than any time in history. population growth means we will become Japan, but I’ve been focused on demographics and how that will affect housing from 2020-2024.

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Inventory Housing Market Construction Marketing 483

McKissock

SEPTEMBER 7, 2021

If NAR’s prediction is correct, the space tech boom could also mean a housing boom, which would create opportunities for builders, buyers, and real estate agents alike. By 2024, SpaceX plans to transport passengers to Mars from its locations in Cameron County, Texas and Santa Barbara, California. So what does that mean for real estate?

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Real Estate Agent Real Estate Transportation Agents 69

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 Hard pass.

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Inventory Construction Government Housing Market 545

Housing Wire

FEBRUARY 21, 2024

But 2024’s deals show investor interest has persisted. Those sales include “major buyers” like Inland , Blackstone, Starwood and American Realty Advisors , the company pointed out in its report. Similarly, construction has slowed but remains elevated. billion in sales is still 40% above 2019 levels.

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Investors Construction Real Estate Inventory 459

Housing Wire

NOVEMBER 27, 2023

However, new home sales were still up year-over-year due to a lack of housing inventory in the resale market. Builders have been struggling with the increased cost of borrowing, while many buyers were priced out of an unaffordable housing market. single-family homes for sale in the third quarter were new construction, up from 28.9%

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Housing Market Construction Inventory Buyers 394

Housing Wire

FEBRUARY 26, 2024

It’s not the safest business model either because builders take a contract to buy a home and then, from start to finish, hope that mortgage rates don’t jump on the buyer by the time the home is ready. months , the builders will pause construction. Well, builders are in business to make money, they’re not a charity.

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Construction Business Contracts Marketing 530

Housing Wire

JANUARY 19, 2024

Today, we need context for the growth we’ll see in existing home sales in 2024. Remember, with median sales prices and inventory, it’s very seasonal. However, remember, the dive in inventory is normal at this time of the year. This is a positive for housing in 2024 as most sellers are buyers.

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Housing Market Inventory Contracts Marketing 449

Housing Wire

FEBRUARY 15, 2024

Buyer traffic is improving as even small declines in interest rates will produce a disproportionate positive response among likely home purchasers,” NAHB Chairman Alicia Huey, a custom home builder and developer from Birmingham, Alabama, said in a statement. Meanwhile, NAHB is forecasting that single-family starts will rise about 5% in 2024.

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Buyers Housing Market Construction Inventory 424

Housing Wire

SEPTEMBER 12, 2023

The point of the editorial seemed to be to scaremonger over government programs to help home buyers and student loan borrowers. So, the author tried to use new construction prices from back in April to describe the whole U.S. Supply of homes for sale is very low, and most of the year we’ve had more buyers than sellers.

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Contracts Inventory Housing Market Buyers 397

Housing Wire

JANUARY 18, 2024

New construction starts fell to a seasonally adjusted annual rate of 1.460 million units, down 4.3% Looking ahead, homebuyers who may be looking to purchase a new construction home may continue to struggle with lack of inventory in 2024, as the overall estimated number of building permits issued in 2023 was down 11.7%

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Construction Real Estate Housing Market Buyers 441

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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Inventory Construction Realtors Marketing 364

Will Springer Realtor

DECEMBER 19, 2023

Buyers and sellers tiptoed through caution. As the year dims, all eyes fixate on 2024’s potential: a hopeful dance fueled by dreams of lower rates and a wave of new homes for sale. We experienced yet another unusual year for residential real estate – high interest rates, leading to affordability challenges amid low inventory.

Real Estate 68

Real Estate Buyers Sellers Inventory 68

Housing Wire

DECEMBER 20, 2021

One of my longer-term forecasts in the previous expansion was that the MBA Index would not reach 300 until 2020-2024. million total housing starts until the years 2020-2024 and we have finally gotten here much like the 300 level in the MBA index. each year during the five-year period of 2020 to 2024, for a cumulative 23% growth.

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Housing Market Inventory Mortgage Marketing 543

Housing Wire

JANUARY 20, 2023

Inventory remains tight , and the overall housing stock is well below what long-run demographic trends suggest is needed, according to the group. In return, first-time home buyers are turning to new homes, as existing homeowners are disincentivized to list their homes for sale and move due to “lock-in” effects. over the next two years.

Mortgage 381

Mortgage Housing Market Buyers Contracts 381

Housing Wire

DECEMBER 29, 2022

Key thing to remember: A traditional seller is also usually a buyer. This now goes into a subject matter that is a striking difference between 2022 versus 2008: Inventory and Credit. Housing inventory. Total housing inventory today — using the NAR data — stands at 1.14 So is housing in a recession? Yes, it is.

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Housing Market Marketing Inventory Sellers 545