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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. Be cautious when signing fixed-price contracts. Tye Alroe, director of Alroe Constructions , was recently let down by a subcontractor who pulled out of a job at the last minute. “I

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Pulte Mortgage Contracts with Black Knight for MSP Servicing System

Appraisal Buzz

focuses solely on the financing of new construction homes for PulteGroup homebuyers. Pulte Mortgage, a wholly owned financial services subsidiary of PulteGroup Inc.,

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Pending home sales surged in December: NAR

Housing Wire

For comparison, the index is benchmarked at a reading of 100 based on 2001 contract activity. New home sales , another measure of contract signings, rose 8% in December on the back of declining mortgage rates. The Northeast was the only region to see a decline in contract signings, with a drop of 3% month over month and 3.9%

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New home sales continue to climb in 2023

Housing Wire

January marked a surge of people signing contracts to buy new homes. The increase in contract signings can be attributed to a decline in mortgage rates in January after a run-up in rates in October and November ,” Holden Lewis, NerdWallet ’s home and mortgage expert, said in a statement. months in December.

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Residential AD&C Loan Volume Contracts During 4Q23

Eyes on Housing

The volume of total outstanding acquisition, development and construction (AD&C) loans posted a decline during the fourth quarter of 2023 as interest rates increased and financial conditions tightened. The volume of 1-4 unit residential construction loans made by FDIC-insured institutions.

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Cherokee Nation engages in HUD housing program for skilled workers

Housing Wire

Department of Housing and Urban Development (HUD) program designed to allow for the construction of rental housing units is getting a new participant: the Cherokee Nation. They are one of the first tribes to be approved for the program, according to the announcement. The program’s initial roll-out will take place in Ochelata, Okla.

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The state of the homebuilding market

Housing Wire

Our upcoming State of the Residential Construction Industry (SORCI) Report will reflect how builders have braced for impact: Despite the rate of new contracts slowing, margins didn’t decrease. of builders showed profitability with $1 million plus contracts on average. Homebuilding Contract Values.

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