article thumbnail

Will the Infrastructure Bill Affect the Real Estate Market?

Appraisal Buzz

These are a few ways it will affect real estate in the coming months. After months of paperwork and organizing teams, many experts believe the allocated funding will start positively affecting the real estate market. Secondary Real Estate Markets On the Rise. What does this have to do with real estate?

article thumbnail

DataDigest: Construction costs easing for homebuilders

Housing Wire

However, as mortgage rates hit multi-decade highs , cooling demand and shrinking the pool of qualified buyers for new homes, homebuilders slowed their pace of construction, which settled at a plateau that is still well above pre-pandemic levels. ” However, Basu notes supply chains are already facing new pressures in 2024.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

New Home Construction Expectations for 2022

Appraisal Buzz

Of course, the construction industry has been facing some pressing challenges, including hitches in global and national supply chains. Several real estate experts have identified this as a key aspect of the housing boom, with no signs of dissipating in 2022. Supply Prices May Begin to Drop.

article thumbnail

Pulte Group thrived in 2021, but it’s not celebrating

Housing Wire

On the other hand, they will not have the materials, labor, or efficient supply chain processes to meet that demand. For Pulte Group, buyers paid an average price of $463,000, up 11% from the year before. The homebuilder’s trade group continues to refer the supply chain as a “crisis.”. Horton and Lennar are no.

article thumbnail

Opinion: A merger to rewire the housing ecosystem

Housing Wire

Portals: These destinations become marketplaces that integrate the supply chain and allow consumers and their advisors to choose and close within minutes – not months. Real estate and mortgage brokers will be marginalized as friction is removed. Brokers : Digitization puts middlemen in every industry at risk.

article thumbnail

Inside Zillow’s misadventures in iBuying

Housing Wire

In May the real estate agent listed a two-bedroom home in Fountain Hills, Arizona, 30 miles north of Phoenix, for $342,000. With one of only a few companies that provide an iBuying offering halting business, it does present an opportunity to us as customer demand for streamlined, on-demand real estate solutions remain high.”.

article thumbnail

D.R. Horton sees ‘outstanding’ profits despite increased costs, build time

Housing Wire

Horton , the nation’s largest homebuilder by gross revenue and total closings, this week released its second quarter earnings for the fiscal year, which executives deemed “outstanding,” despite ongoing supply chain challenges , “a very tight labor market ,” and the massive uptick in mortgage rates. billion to $36.1