Housing Wire

JULY 17, 2024

Higher mortgage rates have increased recession risk by targeting the one sector that always falls before every recession: residential construction workers. Housing completion data is picking up and the faster the builders finish their historic backlog of homes, the sooner construction workers are unemployed. This is 10.1 percent (±10.6

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Housing Wire

MARCH 7, 2024

In the address, the president will call for a $10,000 tax credit for both first-time homebuyers and people who sell their starter homes; the construction and renovation of more than 2 million additional homes; and cost reductions for renters.

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Appraisal Buzz

SEPTEMBER 10, 2024

In 2024, multifamily construction completions are at all-time highs; in many places, supply now exceeds demand. The post New Construction Boom Fuels Rising Rent Prices first appeared on The MortgagePoint. The post New Construction Boom Fuels Rising Rent Prices appeared first on Appraisal Buzz.

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Housing Wire

OCTOBER 18, 2024

Anyone who thinks we are on the verge of a housing construction boom is kidding themselves, with the policy still this restrictive. Now, over time, the falling Fed funds rate can create better demand for apartment construction, but that’s not today, my friends. recession isn’t far away.

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Construction Mortgage Housing Market Marketing 379

Housing Wire

JULY 22, 2024

HUD encourages existing CoCs to use awarded funds for construction, acquisition or rehabilitation of additional PSH units with other funding sources, so that the amount of housing can be “maximized” to “meet the needs of individuals and families experiencing homelessness,” HUD said.

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Appraisal Buzz

AUGUST 9, 2024

is expected to set new records for apartment construction. Notably, by the end of December, the combined metro areas of Dallas and Austin are predicted to welcome about 10% of all newly constructed apartments countrywide. On the other hand, some markets are seeing a slowdown in new construction starts due to the economic environment.”

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Appraisal Buzz

NOVEMBER 14, 2024

The number of renters who favor the construction of affordable housing in their local communities is far higher than that of homeowners. The opinions of homeowners and renters on the potential remedy of increasing housing construction in their neighborhood to alleviate affordability issues differ noticeably.

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Construction Development Local Properties Government 341

Housing Wire

AUGUST 16, 2024

One key data line that is flagging a path to recession is the loss of residential construction workers. A while back, HousingWire Editor in Chief Sarah Wheeler and I discussed the risk of recession due to a lack of construction labor. Let’s look at today’s residential construction report and see where we are. From the U.S.

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Housing Wire

JANUARY 25, 2024

The new home sales sector employs construction workers and stimulates the purchase of goods and services to build those homes: everything from windows to garage doors, flooring and more. In 2023, residential constructions workers weren’t laid off like in previous economic cycles. months , the builders will pause construction.

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Construction Housing Market Inventory Marketing 514

Housing Wire

NOVEMBER 19, 2024

A lower Fed funds rate can assist with land purchases and apartment construction, but that process would take considerable time before we see any development. The key takeaway from today’s housing data is that there simply isn’t enough demand to justify additional construction — at least as far as the builders are concerned.

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Housing Wire

AUGUST 16, 2024

. “The large inventory of new homes is suppressing building at this point, but with mortgage rates dropping and likely to fall more, we should see a pick up in construction later this year,” Robert Frick, a corporate economist at Navy Federal Credit Union , said in a statement. Single-family permits also declined, falling 0.1%

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Construction Inventory Development Marketing 481

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 476

Housing Wire

FEBRUARY 16, 2024

We can see a clear difference between the two markets in the housing construction data. Apartment permits Single family permits We should all be grateful that the builders are paying down mortgage rates and finishing their significant backlog of homes that are under construction or haven’t started construction yet.

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Construction Mortgage Marketing Housing Market 505

Housing Wire

MAY 23, 2024

However, we need to keep an eye on the housing construction data in this report because it has huge implications for the economic cycle, our recession risk and mortgage rates. The future production of housing units at risk I am bringing this up because economic recessions tend to see residential construction workers lose their jobs first.

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Housing Wire

MAY 7, 2024

It is shipped from the Boxabl manufacturing facility in Las Vegas and is “designed to unfold into a fully functional dwelling unit in just a few hours,” reducing construction costs and minimizing environmental impacts, according to a company news release.

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Construction Tenants Design Finance 476

Housing Wire

AUGUST 13, 2024

Construction of accessory dwelling units (ADUs) is taking off, but is it bringing down housing costs? A new report from John Burns Real Estate Consulting casts doubt on it, citing uneven geographic distribution of deregulations and the high cost of construction. As a result, the most impactful ADUs are in new construction.

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Construction Real Estate Development Marketing 435

Appraisal Buzz

NOVEMBER 1, 2024

According to a new Redfin research, in Q3 of this year, an estimated 28% of single-family homes for sale nationwide were newly constructed, the lowest percentage in three years. Census reports that in September 2024, sales of newly constructed single-family houses increased 6.3% Overall construction has slowed. a year ago.

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Construction Inventory Real Estate Agent Agents 370

Housing Wire

JULY 24, 2024

Will the Federal Reserve pivot in time to save construction workers? This is key because, traditionally, residential construction workers are the first to lose their jobs before every recession since higher mortgage rates hit housing first. months , the builders will pause construction. months 274K homes under construction = 5.3

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Construction Inventory Mortgage Marketing 488

Housing Wire

DECEMBER 22, 2023

Housing starts aren’t booming, primarily due to 5-unit construction slowing down. months , the builders will pause construction. Also, mortgage rates spiked this fall, so the builders are mindful of those homes that haven’t started construction yet. This represents a supply of 9.2 months at the current sales rate.

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Mortgage Marketing Construction Inventory 529

Housing Wire

FEBRUARY 21, 2024

Similarly, construction has slowed but remains elevated. The number of units under construction peaked in the fourth quarter of 2022 at above 53,000 and fell to about 36,500 in the fourth quarter of 2023, according to Cushman & Wakefield. In 2022, build-to-rent transactions totaled about $2.1

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Housing Wire

DECEMBER 19, 2023

Housing permits declined, as the 5-unit construction boom ended, negatively impacting the permit data. If we had growth in 5-unit construction, the permit data would look very different. However, the mega-bull run we had in 5-unit construction post-COVID-19 is coming to an end. percent above the November 2022 rate of 1,402,000.

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Construction Housing Market Investors Marketing 526

Appraisal Buzz

DECEMBER 5, 2024

While immigrants add to housing demand, they also play a crucial role in expanding housing supply due to their significant presence in the construction industry. In 2023, immigrants made up 34% of workers in construction trades, a notable figure compared to their 18% share of the overall workforce. As the U.S.

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Construction Housing Market Marketing Buyers 418

Housing Wire

JANUARY 9, 2024

Here are a few trends in financing that will continue to catalyze the construction of more ADUs: Expanded access to mortgage financing The Federal Housing Authority announced a new policy in October 2023 that has made it easier to finance construction of new ADUs, as well as making it more achievable to buy or refinance a house with an existing ADU.

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Finance Construction Tenants Renovations 501

Housing Wire

JULY 31, 2024

Department of Housing and Urban Development (HUD) visited the University of Alaska at Fairbanks to tout the possibilities that 3D printing technology could bring to the construction of affordable housing in the U.S. A key goal for the project includes the deployment of local and sustainable resources for construction materials.

Construction 459

Construction Technology Design Development 459

Housing Wire

OCTOBER 25, 2024

Davis also highlights Deephaven’s edge in products like their Ground-Up Construction and Fix-and-Flip products, offering originators essential tools and training. HW : We’re seeing an uptick in ground-up construction. Ground-up construction growth will be high to meet the population growth and meet the demand due to limited inventory.

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Investors Construction Training Realtors 448

Housing Wire

JUNE 6, 2024

A private planning firm in California is launching a new tool to help local governments there prepare for a pending law designed to spur more construction of accessory dwelling units (ADUs). Digital tools like the ADU Plans Gallery reduce the time and cost of building ADUs and accelerate housing construction.”

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Tools Law Government Construction 476

Housing Wire

JULY 11, 2024

Transitioning to factory building from on-site construction reduces building costs by 20% and significantly improves delivery time; and by using green materials, developers can open up new financing options that, together, turn project economics right-side-up. The result is a sharp increase in labor costs, and longer construction times.

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Development Construction Finance Investors 435

Housing Wire

SEPTEMBER 18, 2024

Slowdowns in new single-family construction over the summer reflected sagging builder confidence, but homebuilders appear to be more confident as mortgage rates have fallen over the past few weeks and as the Federal Reserve gets set to cut interest rates. monthly and 6.2% annually to a rate of 333,000 starts. month over month and 5.2%

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Marketing Construction Development Housing Market 488

Housing Wire

OCTOBER 24, 2024

We had no growth in residential construction work hiring earlier in the year when rates were higher. I recently raised this concern about housing construction and new home sales in an interview on CNBC. Today’s report shows that 258,000 homes are under construction, which amounts to 4.2 Then mortgage rates fell from 7.5%

Construction 488

Construction Property Taxes Inventory Mortgage 488

Housing Wire

SEPTEMBER 4, 2024

The only viable solution to these problems, as other municipal leaders and housing industry experts have previously suggested, is the construction of more homes. The plan also addresses environmental impact concerns of new construction, Rubio said, by paying attention to the floodplain of Portland’s urban center.

Construction 448

Construction Development Law Finance 448

Housing Wire

OCTOBER 21, 2024

The construction activity is likely to place the housing industry and its financing partners on a “collision course” with insurers, the outlet said. The construction figure in Florida far exceeds the next most prominent states. million built in total in that period, the First Street analysis found.”

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Insurance Real Estate Agent Construction Development 497

Housing Wire

AUGUST 2, 2024

Job gains in July were most notable in industries like health care (55,000 jobs), transportation and warehousing (14,000 jobs), and construction (25,000 jobs), a positive for the housing industry. Overall, for the past year, the construction sector has added an average of 19,000 jobs per month.

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Marketing Mortgage Construction Transportation 493

Housing Wire

NOVEMBER 29, 2024

New-home construction in the U.S. StorageCafe describes this discrepancy as the “missing middle,” and analysts blame zoning laws and rising construction costs. has focused on single-family and multifamily inventory growth to boost supply and affordability. One Texas city has something to say about that.

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Inventory Construction Law Development 397

Housing Wire

JULY 10, 2024

After enlisting a local architect who understood the needs of aging, a new ADU of 650 square feet was constructed after four years at a cost of roughly $400,000. In Los Angeles County, stormwater regulations that cause construction delays have been lifted for those seeking to immediately commence small-scale residential construction projects.

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Tenants Mortgage Construction Landlords 476

Housing Wire

JULY 19, 2024

Meanwhile, construction labor is another issue facing the market. We’re worried about construction labor,” Mohtashami said. But Mohtashami notes that it’s too early for lower interest rates to impact the market. Recent data shows that building permits for single-family and multifamily homes are historically low.

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Inventory Construction Mortgage Development 468

Housing Wire

MAY 16, 2024

A key conclusion is that while new construction creates additional supply for first-time and move-up buyers alike, it comes with an additional expense. While many metro areas currently offer an advantage where you can purchase a new construction home for a similar price or even less than the average area home, there is still a 23.8%

Construction 468

Construction Law Finance Realtors 468

Housing Wire

JULY 15, 2024

It would not apply to units that haven’t been built yet so as to not discourage construction of new housing, which the Biden administration has made a cornerstone of its housing policy. Affordable housing advocates also support policies that lead to the construction of new housing.

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Landlords Property Taxes Construction Mortgage 476