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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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The state of the homebuilding market

Housing Wire

This article is part of our 2022 – 2023 Housing Market Update series. After the series wraps, join us on February 6 for the HW+ Virtual 2023 Housing Market Update. With continued supply chain disruption, cost increases and fear of inflation , the market has felt tenuous at best.

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Despite lack of supply, existing home sales rise 6.7%

Housing Wire

Homes went under contract in just 19 days on average, down from 21 a year ago. “There were more listings at the higher end of the market and the median sales price increased for the third straight month, suggesting fewer entry-level and less expensive options, making home-purchase conditions more difficult for first-time buyers. .”

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The nation’s housing market is on a correction course

Housing Wire

Rising interest rates and a slowing economy overall are already taking some of the air out of the rapid home-price appreciation the housing market has experience over the past year, according to the recently released Federal Reserve Beige Book for July. The market is going to go into correction,” he said. “I

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Builders apply the brakes amid canceled contracts

Housing Wire

In previous expansions, builders’ housing completion data would move in line with housing starts and permits. However, for the first time in recent modern-day history — due to supply chain issues and other factors — housing completion data has lagged behind housing permits and starts. When supply is 4.3

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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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7 Problems to Watch Out for During a Home Renovation

Eppraisal

Supply chain disruptions as experienced in recent times can lead to shortages in construction materials. Construction Project Delays Construction project delays can cost homeowners both time and money. Detailed documentation of all project-related communications such as contracts and meeting notes is essential.