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Opinion: The “profitless boom” in residential construction

Housing Wire

The residential construction industry is facing a crisis as builders manage the critical shortage of building materials and labor. Explosive supply and labor costs are forcing long delays and leaving builders out of pocket, as the United States’ property fervor drives insatiable demand. . Be cautious when signing fixed-price contracts.

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Despite lack of supply, existing home sales rise 6.7%

Housing Wire

months of supply; a healthy market generally has between four and six months of supply. Buyers were likely anticipating further rate increases and locking in at the low rates, and investors added to overall demand with all-cash offers,” said Lawrence Yun, NAR’s chief economist. That translates to just 1.6 “While the 6.7

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Pending home sales reach highest May mark in 16 years

Housing Wire

Pending home sales reached its highest mark for the month of May since 2005, up 8% from the previous month of April as low inventory continues driving buyers to snatch up available real estate. “Buyers are still lining up a feverish pace,” Yun said. ” Contract signings on new homes increased 13.1% All four U.S.

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Home Buyer Frustration Will Increase in 2022

Hank Miller Team

It's not a rosy outlook; expect home buyer frustration to increase in 2022. So what's in store for home buyers and sellers that have to make a move this spring? So what's in store for home buyers and sellers that have to make a move this spring? Home buyers are teed up and ready to write…once something decent pops.

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What to expect from homebuilders in 2023

Housing Wire

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. What are you expecting to see next year in terms of supply chain issues?

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New home sales fall to lowest pace in a year

Housing Wire

Related supply chain issues have resulted in a big jump in the price of a new home over the past year. A new home sale occurs when a sales contract is signed or a deposit is accepted. A new home sale occurs when a sales contract is signed or a deposit is accepted. For new homes, that supply is sitting at roughly 5.1

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Homebuilders growing very concerned about affordability

Housing Wire

The report is based on a monthly survey of NAHB members, in which respondents are asked to rate market conditions for the sale of new homes at the present time and in the next six months as well as the traffic of prospective buyers of new homes. Policymakers must focus on fixing the broken supply chain.