Housing Wire

NOVEMBER 4, 2021

To keep pace with current construction demand, and account for attrition, 740,000 new construction workers are needed each year for the next three years , a report by the Home Builders Institute contends. From 2022 through 2024, this total represents a need for an additional 2.2 million new hires for construction.

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Housing Wire

JANUARY 26, 2024

The housing market is off to a good start this year, as consumers benefit from falling mortgage rates and stable home prices,” NAR chief economist Lawrence Yun said in a statement. Job additions and income growth will further help with housing affordability, but increased supply will be essential to satisfying all potential demand.”

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Contracts Housing Market Construction Inventory 454

Housing Wire

DECEMBER 29, 2021

A bullish housing market. economic recovery was a false story and that we were about to embark on a second housing bubble crash due to forbearance. The housing market didn’t crash at all, in fact, more Americans bought homes with mortgages in 2021 than in 2020. What a year 2021 has been. The excellent.

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Housing Wire

SEPTEMBER 22, 2023

The Federal Reserve ‘s effort to temper inflation has cooled the housing market that remains subdued with mortgage rates north of 7%. However, a silver lining in the subdued housing market is the strength in new-home sales. It’s a bifurcated market in that sense.

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Housing Wire

NOVEMBER 30, 2023

Historically high rates harmed the housing market in October Annualized existing home sales remained below 4 million in October, the lowest rate since 2010. Meanwhile, new home sales posted a better performance as homebuyers pivoted to new construction amid waning existing home supply. New home sales fell 5.6%

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Housing Market Inventory Realtors Construction 475

Housing Wire

MARCH 28, 2022

Due to this reality, I have downgraded the housing market from unhealthy housing to a savagely unhealthy housing market. 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 Market Marketing Supply Chain Inventory 370

Inman

JANUARY 26, 2024

With listings still in short supply, homebuyers are "dealing with an affordability shock" and new homes will play an outsize role in housing markets, Zonda Chief Economist Ali Wolf said at ICNY.

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Housing Wire

APRIL 4, 2024

Despite recent data indicating a poor affordable housing situation in Texas , the city of Houston must return $45 million in unused affordable housing funds to the state after failing to use them for construction of new homes. Instead, the city failed to begin construction on the homes in a timely manner.

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Construction Government Housing Market Finance 446

Housing Wire

JANUARY 9, 2024

Additionally, ADUs present an excellent solution for housing family members in need including aging parents by adding infill housing in the most desirable neighborhoods. Fannie Mae and Freddie Mac already have some guidelines for ADU financing, but they have yet to have a major impact on the overall supply in the market.

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Housing Wire

FEBRUARY 27, 2023

NAR expects the economy to continue adding jobs throughout 2023 and 2024, and the 30-year fixed rate mortgage to steadily drop to an average of 6.1% in 2024 Despite these conditions, Yun still expects annual existing home sales to drop 11.1% In 2024, however, he anticipates an increase in existing home sales of 17.7%

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Housing Wire

JANUARY 3, 2024

The recent decline in rates has given the housing market some cause for optimism going into 2024, but purchase applications have not yet picked up in response, with the overall level of purchase activity 12% lower than a year ago,” Kan said in a statement. from 15% the week prior.

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Mortgage Housing Market Construction Inventory 443

Housing Wire

OCTOBER 26, 2023

in 2024, hitting 800,000 new homes. For those new construction units, the national median new home price is projected to drop by 5.9% in 2024, to $445,800. This underscores the importance of increased inventory in helping to get the overall housing market moving,” Yun added. In 2024, they should rise by 13.5%

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Inventory Contracts Housing Market Realtors 407

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. million openings one year prior, according to other recent job market data. month over month to $34.69 and were up 4.1%

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Mortgage Transportation Construction Housing Market 353

Housing Wire

JANUARY 18, 2024

This is an encouraging development for the housing market and in particular first-time homebuyers who are sensitive to changes in housing affordability. Housing starts declined 9% in 2023, an indication that homebuyers looking to purchase a new construction home may continue to struggle with the lack of inventory this year.

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Mortgage Inventory Retail Construction 529

Housing Wire

JULY 27, 2023

in 2024, according to NAR’s forecast. million in 2024. Increased homebuilding will tame price growth, while limited construction will lead to home price appreciation outpacing income growth.” On the flip side, newly constructed home sales are forecast to increase 12.3% in 2024, to 820,000.

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Construction Inventory Realtors Housing Market 370

Housing Wire

JANUARY 19, 2024

It requires economic and income growth and, most importantly, a steady buildup of home construction.” Befitting a challenging year for the housing market , existing home sales closed out 2023 at a seasonally adjusted annual pace of 3.78 Heading into 2024, there were 1 million existing home units on the market, representing a 3.2

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Inventory Realtors Housing Market Construction 437

Housing Wire

MAY 10, 2022

This article is part of our housing market economic update series. At the end of this series, you can join us on May 10 for a Housing Market Update webinar. The housing market is heading toward an inflection point — a rebalancing that will mean the end of the record-high price appreciation we’ve seen over the past year.

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Inventory Housing Market Construction Sellers 395

Housing Wire

FEBRUARY 4, 2024

” In December, the Fed talked about three rate cuts in 2024 but some people made a case for four, five or even six rate cuts given a Fed pivot. However, for me it’s always been about the labor market and jobless claims data, and that data line hasn’t broken enough for the Fed to be more aggressive.

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Housing Market Marketing Mortgage Construction 501

Housing Wire

FEBRUARY 12, 2024

An abundance of new apartments recently hit the market, giving renters more options to choose from. Meanwhile, more apartments are under construction. Redfin chief economist Daryl Fairweather expects apartment completions to peak in 2024. Landlords have less pressure to fill vacancies in these markets, Redfin reported.

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Landlords Construction Mortgage Marketing 427

Inman

SEPTEMBER 27, 2023

New-construction homebuilders are using incentives to garner an outsized share of the current housing market and capitalize on buyer demand. Windermere Chief Economist Matthew Gardner checks the numbers to see how their strategy is working now and what it means for 2024.

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Marketing Construction Housing Market Buyers 152

Housing Wire

JULY 7, 2023

“Manufacturing activity remains quite weak, while consumer spending has held up somewhat better, and new home construction and sales have picked up. Our forecast is for a slowdown in economic activity in the second half of 2023, with a recovery in early 2024. The June employment report reinforces that forecast.”

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Construction Renovations Government Inventory 370

Housing Wire

APRIL 27, 2023

in 2024, and housing starts will fall 7.3% annual in 2024 to 1.54 annual increase in 2024, bringing existing home sales back up to 5.26 In the new construction sector , NAR predicts sales to increase 4.5% to $390,000 in 2024. In addition, NAR forecasts that mortgage rates will drop to 6.0% in 2023 and 5.6%

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Inventory Realtors Contracts Construction 427

Housing Wire

JANUARY 1, 2024

The 2023 housing market faced one of the same roadblocks we saw in 2022: mortgage rates were too high for home sales growth. Now that we’re in 2024, the Federal Reserve ‘s rate hike cycle is over, so let’s look at what that means for housing demand and home prices. Instead, they closed 2023 at 6.67%.

Housing Market 527

Housing Market Marketing New Listings Construction 527

Housing Wire

MARCH 1, 2024

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-June 2023, the statewide 90-day average Altos Market Action Index score hit a high for year of 53.99, before sliding down to a trough of 40.03 in mid-January 2024. as of February 29, 2024.

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Housing Market Marketing Inventory Construction 437

Housing Wire

APRIL 24, 2023

New home construction is expected to pull back later in 2023 – consistent with Fannie Mae’s forecasted recession – which is due, at least in part, to tighter credit availability for construction lending. For 2024, Fannie Mae anticipates volumes of $2.02 In 2024, home prices will decline by a further drop of 2.2%

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Construction Inventory Lending Mortgage 383

Housing Wire

MAY 10, 2023

According to Yun, the Fed’s rate hikes have hurt regional banks and the housing market. Rent growth will decrease because apartment construction – entry units coming on the market – is already in the pipeline. He also anticipates new and existing home sales to bottom out in 2023 before rising again in 2024.

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Housing Market Insurance Realtors Buyers 383

Housing Wire

APRIL 1, 2024

While many proptech companies have struggled to adapt to the slower housing market conditions and challenging venture capital environment, Flyhomes is viewing this as a time to grow. By the end of second-quarter 2024, Flyhomes hopes to be licensed and operational in 40 states. “So, This is just one more arrow in their quiver.”

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Loan Officers Clients Mortgage Construction 417

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 recession. That would be a positive for demand.

Housing Market 543

Housing Market Marketing Inventory New Listings 543

Housing Wire

DECEMBER 19, 2023

The landscape of real estate is undergoing significant transformations in 2024, driven by a confluence of technological advancements, shifting market dynamics and evolving consumer behaviors. The housing market’s conditions, characterized by soaring prices and limited availability, have compounded these challenges.

Real Estate 469

Real Estate Marketing Technology Tenants 469

Appraisal Today

NOVEMBER 3, 2023

Advisory Opinions For 2024, the ASB has retired Advisory Opinion 16 (AO-16) and replaced it with two new Advisory Opinions, AO-39 and AO-40. These requirements are carried forward in the 2024 edition of USPAP. USPAP 2024 is effective January 1, 2024. Care was taken to move as little earth as possible during construction.

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Appraisal Contracts Architecture Mortgage 76

Housing Wire

SEPTEMBER 13, 2023

Additionally, apartment construction is strong , which puts an additional pressure on landlords to avoid vacancy. “The recent rent and house price declines are only just starting to show up in the CPI and will likely drag down headline CPI through 2024,” added Potapov. The rent index was up 7.2% a year earlier.

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Landlords Insurance Construction Realtors 395

Housing Wire

JANUARY 4, 2023

This article is part of our 2022 – 2023 Housing Market Forecast series. Bringing together some of the top economists and researchers in housing, the event will provide an in-depth look at the top predictions for this year, along with a roundtable discussion on how these insights apply to your business. percent to 5.24

Housing Market 529

Housing Market Marketing Mortgage Contracts 529

Housing Wire

JULY 20, 2023

Fannie Mae’s Economic & Strategic Research (ESR) group in its July commentary projected that if a recession were to occur it would be a modest one, which is likely to begin in Q4 2023 or Q1 2024. The reason, if a recession occurred was going to be mild, was because of housing.

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Housing Wire

JUNE 2, 2022

One top question he addresses is how the industry is reacting to this savagely unhealthy housing market. HW+ Member: What’s the number one question you are getting from the real estate agent community on the economy and housing market? Months are homes under construction 0.8 Ghost Supply 2.2

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Training Inventory Housing Market Real Estate Agent 427

Housing Wire

DECEMBER 29, 2022

As we close out 2022, it’s time to reflect on a historic year for the housing market, which was even crazier than the COVID-19 year of 2020. A few months ago, I was asked to go on CNBC and talk about why I call this a housing recession and why this year reminds me a lot of 2018, but much worse on the four items above.

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Housing Market Marketing Inventory Sellers 546

Eyes on Housing

JANUARY 24, 2024

According to the January 2024 survey for the NAHB/Wells Fargo Housing Market Index, high interest rates were a significant issue for 90% of builders in 2023, and 77% expect them to be a problem in 2024. Read More ›

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Housing Market Marketing Construction 183

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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Appraisal Contracts Business Construction 76