Remove Construction Remove Contracts Remove New Listings Remove Supply Chain
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The nation’s housing market is on a correction course

Housing Wire

Homes listed for sale are increasingly seeing asking-price reductions, and both construction and home sales — both existing and new — are slowing.”. New York — Housing markets have been mixed since the last report, with the rental market continuing to strengthen but the sales market weakening noticeably.

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Pending home sales drop, but there’s a silver lining

Housing Wire

But many would-be buyers have also been thwarted by comically low resale inventory, as well as supply chain constraints and escalating materials costs that have made life difficult for homebuilders. All four areas saw contract transactions increase from a year-over-year standpoint. January was illustrative.

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CITIES FACE DAUNTING OFFICE-VACANCY CHALLENGE

Will Springer Realtor

Our urban area accounts for about half of the city’s economic activity, and the Seattle Chamber noted that rising office vacancies coupled with less construction could lead to $2B in decreased revenue. We certainly see that in all forms of residential real estate – from new construction to finding items for the home.

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Will Springer Realtor - Untitled Article

Will Springer Realtor

month backlogs of contract work, as of Q4 (latest data available), which is down from the peak of 4.8 In many cases, the long lag time to complete projects is no longer from dreaded supply-chain issues. Four other residences have traded hands this year and two more are under contract for sale. Why the desire to leave?

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Will Springer Realtor - Untitled Article

Will Springer Realtor

This year’s “cold down” is stark, with 36% fewer new listings and about 26% fewer homes under contract (Pendings) for all King County home types combined as well as single-family structures alone – and that’s simply from October to November. A little more than a third of inventory is under contract. Prices declined 5.4%